PETROL PRICES AND PROFITS

At a time when most of the world is in recession and people are suffering financial difficulties, the big oil companies are posting record profits.

Bear in mind we are talking profits not turn over, so the numbers we are seeing are what they have left after they have paid all their costs. They are paying huge dividends to their shareholders, usually corporate investors.

We, the consumers have been told our pump prices have increased due to the Ukraine/Russia conflict. I might not be an accountant, but surely if raw material prices go up, profits come down.  If profits are rising, there can be only one reason...profiteering. The oil companies have passed on the raw material increase and a little more to the customers.

Surely, during these hard days when we are all paying record prices at the pumps, the BP's and Shell's could restrict profits and reduce pump prices.

PRICES HAVE GONE UP, BET THEY DON'T COME BACK DOWN!