On Wednesday 30 April 2008 18:42:45 ken barber wrote:
> yes, th oil is priced in dollars but the less euros the dollars will but,
> the higher the oil producer price the oil so as to make up for the dollars
> buying less and then the increase is passed on to the consumers in a higher
> at the pump price.
>

The oil market is global, so the price, in dollars, is the same for any 
country wishing to purchase. The price is set by the ratio between supply and 
demand. What you describe (the producer setting an artiificiallly high price) 
only occurs when a cartel operates the market.

Cheers

Deri

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