Have you ever wondered how you can find out the current price of Oil?
It is often reported but is not always easy to find.
You may ask why do I care how much oil costs?

Well the cost of petrol at the pumps, and the reviews
on your gas and electric bills are closely linked to these values.

As the Big energy companies buy oil in bulk it will often take time to filter through the system,
aand the bulk buying also helps to mask a small rise if it is not sustained for a long period of time.

It may take a week or two for a rise in the cost of Oil to filter through to the pumps as the big oil
companies stock pile to help mak small changes that are short lived. However with long term rises the
cost will be passed through to you at the pumps as im sure you well no.

So here is the info you need, this is the current cost of oil

 (At the end of 2007 it was around $100 or £50 - Approx)

The Current Oil Price in Pounds is - £50.05  
(This has been calculated based on the Central European Bank Exchange Rate of 1.56197  as at 29/07/2010 )

Now you know how much a barrel of oil costs, has that helped a lot? I'm guessing its not helped too much!
Im guessing the question you want us to answer is what can you get from a barrel of Oil?

Well if you look at the chart below it will show you all the things that come from a barrel of Oil
(A Standard Barrel of Oil is 42 US Gallons)

I'm sure many of you will have added this all up and come to the conclusion we are totally wrong as the figures dont add up!
Well you are correct in one sense but these figures are indeed right!
This is because during the filtering process you are actually able to produce more than you actually started with.

So it is absolutely correct that you get 44.68 gallons of oil based products from a 42 gallon barrel of Crude Oil
Thats a gain of over 6% during the processing.

The graph below shows how the cost of petrol has changed over the last year or so.
We hope you find this useful, as it allows you to track the price change over time

With this information you can hopefully make informed money saving decisions based on facts instead of
trying to remember the price from around 6 months or so ago.
 
If you would like to try and save money by finding the cheapest petrol stations in your area, please check out
our latest prices page where you can find the cheapest prices based on your PostCode
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