Discussion
A.J.M said:
Yesterday I passed an Esso with 106 for petrol and 113 for diesel.
I can see petrol going back below £1 by March.
Local Shell station here keeps dropping the price at weekends - its been 105.9 the last couple of days. Texaco down the road from there was 106.0 - and the Shell and Tesco in the next village 2miles away being 109.9I can see petrol going back below £1 by March.
Well if the rate continues to drop at the speed it is then we may see WTI at $50 by Wednesday! Brent will follow a few days behind as it tends to be a few £ higher on average.
Good news all round for petrol heads! Now if chemicals can fall at the same rate then race fuel will be cheaper to!
Good news all round for petrol heads! Now if chemicals can fall at the same rate then race fuel will be cheaper to!
Mr Whippy said:
Better yet oil prices are dropping hard.
Heating oil has gone from about 60p to 40p now over the year. Winter demand just doesn't even register on the price vs time.
Win win for everyone... for now.
Until we get deflation. I forget what part of the price index fuel contributes (esp indirect)?Heating oil has gone from about 60p to 40p now over the year. Winter demand just doesn't even register on the price vs time.
Win win for everyone... for now.
Vaud said:
Mr Whippy said:
Better yet oil prices are dropping hard.
Heating oil has gone from about 60p to 40p now over the year. Winter demand just doesn't even register on the price vs time.
Win win for everyone... for now.
Until we get deflation. I forget what part of the price index fuel contributes (esp indirect)?Heating oil has gone from about 60p to 40p now over the year. Winter demand just doesn't even register on the price vs time.
Win win for everyone... for now.
turbobloke said:
Vaud said:
Mr Whippy said:
Better yet oil prices are dropping hard.
Heating oil has gone from about 60p to 40p now over the year. Winter demand just doesn't even register on the price vs time.
Win win for everyone... for now.
Until we get deflation. I forget what part of the price index fuel contributes (esp indirect)?Heating oil has gone from about 60p to 40p now over the year. Winter demand just doesn't even register on the price vs time.
Win win for everyone... for now.
You could argue that low oil prices are masking inflation of other elements in the pipeline. No pun intended.
Even for national stats, inflation looks low, so against stagnant salaries we may not feel so bad off.
But it is certainly a case of 'for now'... because the longer it stays low or drops more the worse it's gonna be in far more important areas of our finances I think!
Dave
Mr Whippy said:
TwoLeadFeet said:
Mr Whippy said:
Win win for everyone... for now.
Not for those working in offshore oil production...Just saying like...it's not win win for everyone
Presumably fuel duty is still 58p per litre so HMG will rake in even more (and the VAT on top) if petrol and diesel sales grow on the back of low oil prices, reversing a 6-year fall in sales totalling around 25%.
Article from May 2014 said:
The cost of filling with diesel in the UK the 80-litre tank of a Ford Transit van – the staple of small businesses often characterised as ‘white van man’ - amounts to £108.74 of which £63.79 is tax.
If the duty is a percentage rather than a fixed amount however...turbobloke said:
Presumably fuel duty is still 58p per litre so HMG will rake in even more (and the VAT on top) if petrol and diesel sales grow on the back of low oil prices, reversing a 6-year fall in sales totalling around 25%.
It is fixed and currently at £0.5795 (plus VAT)Article from May 2014 said:
The cost of filling with diesel in the UK the 80-litre tank of a Ford Transit van – the staple of small businesses often characterised as ‘white van man’ - amounts to £108.74 of which £63.79 is tax.
If the duty is a percentage rather than a fixed amount however...With the example above of 80 litres at a price of £1.20 per litre (about the national average today) then £0.415 is the fuel, £0.5795 is duty and £0.20 is VAT, giving a total of £95.56 for the tank (a total of £62.36 in taxes and £33.20 for the fuel).
Edited by Grumfutock on Monday 5th January 14:51
Grumfutock said:
turbobloke said:
Presumably fuel duty is still 58p per litre so HMG will rake in even more (and the VAT on top) if petrol and diesel sales grow on the back of low oil prices, reversing a 6-year fall in sales totalling around 25%.
It is fixed and currently at £0.5795 (plus VAT)Article from May 2014 said:
The cost of filling with diesel in the UK the 80-litre tank of a Ford Transit van – the staple of small businesses often characterised as ‘white van man’ - amounts to £108.74 of which £63.79 is tax.
If the duty is a percentage rather than a fixed amount however...
ds!Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff