Price of oil

[TrayofRoses]

It all went up over the past few days.

Do you think is that just panic right now or will it come down?

Nobody knows. It depends how long this war continues for and how much damage Iran inflicts on the oil and gasd production facilities in the middle east. If you can answer either of those you may have an answer.

My guess is it will last a long time. Energy prices have a habit if increasing dramatically and never coming down again.

It’ll come down eventually.

I ordered on 17/2, when the Gerald R Ford was approaching the Mediterranean, clearly things were going to escalate. It’s more than doubled in price since then. I won’t need any more for 8 months, so I hope it’s settled down by then.

I'm getting my tank filled because I think the price will continue to increase. The oil company said they think this too, though of course they have an interest in selling oil 🤷. They won't guarantee prices til the day it's delivered, so I DREAD to think what it will actually cost when it arrives. (Their quote for that day was £1.09/litre, it was 59p/l at the end of December). But I would kick myself if I leave it til autumn and the price has risen further.

So I guess it's a rock and a hard place situation. I heard that some oil companies are unable to commit to deliveries over a certain amount of litres due to the supply uncertainties.