Energy companies refuse to budge
Yet more and more pressure is been put on energy companies to lower their rates by government today, but yet they do not seem to want to budge. This time last summer when fuel price reached their peak at around $150 a barrel which made struggling logistic companies have to close down through lack of profits and could not handle the scale of the rise of crude oil. As it stands now crude oil has reached it’s lowest in over 30 years, today a barrel of crude oil is around $43 a barrel a third of the original cost of the summer of this year, a massive drop. Which just goes to show how fast the economy has been slowed down.
The watch dog of fair trading a putting increasing pressure on energy companies to lower the price of the service, as they will stand to make record profits in spring next year. The people struggling most from this are the elderly, who are struggling a lot to keep their homes warm this winter. With the interest rates been slashed as low as they have been since the 1990s recession, people’s saving are being hit hard. With council tax going up to a staggering rate next spring it’s a really hard time not just for the elderly but for every other working family as well.
Experts say that even though the price of crude oil has dropped to a massive low it will continue to shrink in cost and they say it could drop to as low as $23 a barrel, the lowest records have seen. There clearly are room for cuts in our energy bills as much as double figures, which should really come into place by spring of next year. If watch dog, and government continue to put pressure on the energy companies. One of the larger energy companies British Gas, have some customer who may not be able to take advantage of a considerably lower rate by next year, as many have signed fixed rate plans that end in 2009, when fuel prices were at their all time high, a rather clever move from the energy company.
