Why when wages are going down are prices going through the roof ?

[muppet]

Don't let them kid ye. There is oil available and for a far lower price but the greedy oil merchants know that we all need it so are putting their prices higher and higher. Greed is the problem and always will be.

Incidently there maybe a oil drivers strike in britain so the army are getting prepared to oversee the duties of the striking drivers. A woman said on tv this morn that the government should do what reagan did when air traffic controllers went on strike in the U.S.; sack them all. Would not put it past the Tories!!!!!

A barrel of oil can be traded up to 90 times before a drop is used. Since futures trading on oil was allowed it has become prone to the boom and bust cycle, same as everything else. Meanwhile supply & demand have remained largely the same.

BTW oil is not at an all time high. That was 2008.

Whiskeysteve has a better explanation above of why oil prices have become so volatile and it has nothing to do with supply.

[rosnarun]

oil is at an all time high in euro term which us people in the real economy down south use .
not sure what the english situation is like

[seafoid]

Whiskeysteve is right. The UK is trying to deal with its mountain of debt by inflation which reduces the real value of the debt. The Bank of England has pumped  hundreds of billions of fresh pounds into the financial markets via its quantitative easing programme and the result has been a fall in the value of sterling compared to other currencies. So for a given value of foreign curency you get more pounds over time.   As the UK imports a large proportion of the goods it consumes the price of imported goods expressed in sterling increases.   

[Ulick]

Stamps - about half to three quarters of the letters you receive won't have the stamps franked  so peel them off and reuse by sticking them down with Pritt Stick. Haven't had to buy any for years.

[The Iceman]

Cancel your mobile phone contracts and go pay as you go or get rid of it altogether...... massive saving every month.
Not sure if you can do this in Ireland but we clubbed together with some family members and purchased a whole side of beef and got a butcher in the family to carve it up.... a lot cheaper and have a freezer full. In laws are also in a co-op where they pay into a farm every year and get veg and meat every month.....

Lots of things you can do to counter the price increases......

[thejuice]

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8131

[orangeman]

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8131

There's no chance of an investigation into the alleged fixing of prices. It might well be criminal but there's no chance of this being established.

Banks were too big to fail.

Oil companies can bring the world to a halt. Nobody is going to mess with them or the oil traders / speculators.