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Originally Posted by johnep Ah! but what we pay for in pounds is priced in dollars in the US. My nephew is always complaining about the cost of petrol had to pay $3/gallon last month!
johnep |
Can't work that one out - if oil is priced in dollars and the pound is high (2 for 1) against the dollar surely it must get cheaper.
Someone once told me that if the price of oil comes down then we lose out because North Sea oil is worth less, so we have to pay more to keep the price high. If the price goes up we have to pay more because it is paid for in dollars. Either way we pay more. Best way for us to pay less would be to get them re-classified as drugs and in tariff part VIII category M, at the moment at least.