Price at the pumps won't drop by 10% - more likely by about 3p a litre if anything. ALthough prices at the pump have shot up in recent months, they haven't shot up as much percentage wise compared to oil due to the heavy tax burden on petrol. 90% increase in oil - pump prices weren't 70p last year!

Nick, Rickmansworth, Herts

We seem to be held to ransom over oil and the nonsensicle link to gas and electricity. The true price of gas to those that produce it cannot possibly merit the greedy rises that we're experiencing. Oil does'nt need to be so expensive - its all the greedy people trying to make extra money on its back

michael j kay, northwich , england

The fundamentals are in place for crude to be way below 120 - stocks of refined products ,refinery utlisation and crude reserves at a high and during the US peak driving season - has anyone else noticed that when crude loses its trousers there is always a Nigeria "problem to help push it back up?

Patrick, Hague, Netherlands

I read that oil prices went up today because Nigeria expierenc ed a drop in pressure in their pipeline which reduced production by 47,000 a day. So now Nigeria dictates the price of oil not the Saudis. Why not just call what it is. As long as we buy it they will sell it for what ever price.

Louie, phoenix, usa

"Trading at 90% above the price a year ago...." the only shortage of supply is artificially engineered, there is no real underlying crisis / economic drivers pushing the prices this high.. Wall street is using credit cruch bailout money from the Fed to claw back profits lost on subprime..SPECULATION

BankerMeyer, Dublin, Ireland

UK gas prices are high because of link to EU supply that is linked lock step to oil prices.To infer it is a UK policy that causes todays prices is wrong, it is EU policy! The EU market must be liberalised. EUROPE has lots of gas storage. It costs less to balance EU than each member state separately.

Mike, Newmarket, UK

When I got home last night, my wife demanded that I take her someplace expensive.... so, I took her to a gas station.....

SAli, Hertford, UK

This is Capitalism gone mad!

Time for a new system to govern us.

Any IDEAS????????????

sulaiman, Lanarkshire,

Gas prices etc going up and up - wonder when Mrs Thatcher will start to apologise for being so hell bent on selling UK fuel, water supplies, railways etc - soeventual foreign subsequently don't really care about UK citizens as long as they still extract huge profits and bleed us all

N J Appleby, Lincoln, England

The price at the Esso outside my window went up to 132.9 for diesel when oil was at 143. Oil is now at 131 - guess how much the diesel costs now? You guessed it - 132.9.

Richard, Shenfield, UK

A 10% fall since Monday.
I wonder how long it will be before this is reflected at the pumps. ?
A little longer than it took them to put the prices up I suspect.

V Cooper, Somerset, UK

I wonder how long it will take for pump prices to fall then. Strange thing is every day the barrel price went up so did the pump price. However there has been no reduction at present. We must be bigger mugs than I thought.

Mark Websper, Margate, England

So the price at the pump should drop 10%
Yeah right

Phill , The Wirral, England