as for you thinking oil should go down to $40 as "norm" pfft..
I didn't say it is norm, I said for the energy related issues to "relax" it needs to go that low.Quote
if you think oil and UK petrol should go down to pre 2008 levels (under $40 and under £1 respectively) as norms.. sorry but no, just no.
I actually think it should go up in price to be "norm" since the value is higher. I'm just putting two and two together:1) I've already mentioned oil price being high per barrel ($80).
2) There are increased additional costs for anything that reaches Europe from the sea (since US decided to turn the sea into a battlefield in support of genocide in Palestine)
2.1) The travel costs went up since certain vessels have to change course and instead of passing Red Sea they have to go around the entire African continent. This adds 30-40 days travel time which means higher cost
2.2) The insurance cost went up too since the risks are higher.
That's the situation in the past ~4 months. Early on some reports talked of a 2x rise. That has only gone up with more tensions.
2.3) Specific to UK, all these costs are higher because UK decided to join US and London in support of genocide, declared war on Yemen that supports Palestine. That effectively turned all British vessels into legitimate targets which has not only increased all those costs but also increased shortage (nobody wants to work for UK and British or British linked ships are attacked/damaged).
Not a week goes by without 3-5 UK or US ships being attacked like HMS Diamond (royal navy destroyer that was incapacitated) or Marlin Luanda (the British tanker that burned for 2 days).
By all logic, an oil product like petrol has to go up in price not down. That's unless it is being kept down.
