On Fri, 22 Jun 2012 16:57:24 +0100, The Natural Philosopher
wrote:

MM wrote:
BoilerJuice is quoting 52.13 pence per litre for 500 litres as of
10:21 am on 22/Jun/12.

This is the lowest I've recorded since 31/Jan/2011.

Is it going to fall further?


yes, for about two months.

Reasons are a mixture of political and financial...worldwide demand is
down due to recession and japan restarting its reactors later this year,
and the speculators have started to go short rather than long.

Also Saudi Arabia is in an interesting position which is so complex I
cant really understand it myself.

Suggest you subscribe to the FT and read it up yourself.

Well, two months sounds good! At the rate it's going down, it should
be below 50p by then. I haven't bought any oil since August 2010 when
I paid 38.5 pence a litre to Goff Petroleum.

MM