£1.29 per liter.

[Dr Jekyll]

mazdajason said:

I'm considering the effort it takes to get a litre of crude oil from the earth and refine it etc to get it to petrol - that to me would make petrol 'cheap' at £1 a litre.

Jet fuel is around £1 a litre, and heating oil (chemically very similar to diesel fuel) is less than that.

[mat777]

hmph this sounds about typical... just as I'm looking for a diesel shed to run on chip oil, fuel prices plummet!!

[wackojacko]

sparks_E39 said:

I paid £1.39 for V Power on Sunday. I hope it keeps dropping.

Indeed 139.9 at my nearest BP (ultimate) is a great price.

[willld]

Toro Rosso said:

Why would they not vary the price depending on your location? It will cost a different amount to get fuel to different areas of the country and it doesn't make sense to make everyone else share the cost of this.

It's little to do with location. Rugby is very close to the M1, M6, A14, A45 etc and petrol is consistently 3-5p dearer than in Leamington Spa only 11 or so miles away.

It's more like blatent price-fixing by the supermarkets, charging what the few remaining local other petrol stations are charging.

[cuprabob]

uuf361 said:

+1 - softens the blow a little and easier for the government to 'justify'.....

There is no doubt, this tax rise will definitely happen and the drop in price is making it easier to sell.

I can hear posh buy now saying "even after the 3p rise it's still much cheaper than it was 6 months ago"

[ge0rge]

jbi said:

3p a litre tax increase on the way

My thoughts exactly.

[s2ooz]

jay140285 said:

Try living in and around Worcester, seems to be the most expensive place for fuel.

I commute from Worcester to Buxton 3days a week for fuel, I always fill up when I am up north as its as much as 5 or 6p cheaper for diesel.

Even Droitwich is cheaper than Worcester.. where is the logic in that?

[deeen]

Crude oil is more than 20% off its high, petrol has not fallen 20% yet, though.

[s2ooz]

Dr Jekyll said:

mazdajason said:

I'm considering the effort it takes to get a litre of crude oil from the earth and refine it etc to get it to petrol - that to me would make petrol 'cheap' at £1 a litre.

Jet fuel is around £1 a litre, and heating oil (chemically very similar to diesel fuel) is less than that.

£1 is not cheap, its only about 30p the rest is tax of course.

[12gauge]

Tel Aviv/Washingtons embargo on Iranian oil starts soon, doesnt it? Saudi production is already racketed up, should send prices back up nicely.

[stewjohnst]

Glad I was running late yesterday morning, range said 10 miles but drove past Shell at 1.38 for diseasel and on the way home it was at 1.34 so brimmed it, oddly this morning it was back to 1.37, maybe somebody misread their price sheet but I should be good for another 600 miles before it matters

[Dr Jekyll]

deeen said:

Crude oil is more than 20% off its high, petrol has not fallen 20% yet, though.

It won't. Only a tiny proportion of the pump price is crude oil.

[bakerstreet]

paulmoonraker said:

I dare say it's the demand at the forecourt that drives prices, rather than the price per-barrel. Sure, if the barrel price goes up, so does the cost across the piece. However, price drops are passed on when custom moves and/or demand drops...

I drive all the time for work, and without question the roads are not quite as busy and people are driving slower. 80 is the new 90 on the motorway. Couple this with more fuel efficient cars and then demand drops...

As previously stated, I don't think you are right about what dicates the price of fuel.

I aggree with you on the 80 is the new 90. I'm currently doing 20kpa and most peopleI see on the road are all cruisting ata steady 70 to 75mph. I believe this is all to do with people trying to save money on fuel.

[Dusty964]

Interestingly (or not) petrol is the same price over here in Dubai at whichever station you use to fill up. I guess thats as its seen as something thats required for the economy to work rather than something to sustain the economy through huge taxation though.

[bazza1000]

It's good that its come down a bit, I noticed the other day as well

[crofty1984]

bakerstreet said:

paulmoonraker said:

I dare say it's the demand at the forecourt that drives prices, rather than the price per-barrel. Sure, if the barrel price goes up, so does the cost across the piece. However, price drops are passed on when custom moves and/or demand drops...

I drive all the time for work, and without question the roads are not quite as busy and people are driving slower. 80 is the new 90 on the motorway. Couple this with more fuel efficient cars and then demand drops...

As previously stated, I don't think you are right about what dicates the price of fuel.

I aggree with you on the 80 is the new 90. I'm currently doing 20kpa and most peopleI see on the road are all cruisting ata steady 70 to 75mph. I believe this is all to do with people trying to save money on fuel.

I'll agree with that. I trundle along the dual carriageway at 60 with the lorries on the way to work now.

Though funny enough, I seem to drive a lot faster when heading home!

[mazdajason]

s2ooz said:

Dr Jekyll said:

mazdajason said:

I'm considering the effort it takes to get a litre of crude oil from the earth and refine it etc to get it to petrol - that to me would make petrol 'cheap' at £1 a litre.

Jet fuel is around £1 a litre, and heating oil (chemically very similar to diesel fuel) is less than that.

£1 is not cheap, its only about 30p the rest is tax of course.

Yea agreed, but how much is alitre of water and how much easier is it to purify a litre of water than it is to get a litre of petrol? Thats a story for a different hread though I feel.

Back on topic, i'm happy that the petrol price is heading south.

[deeen]

Dr Jekyll said:

deeen said:

Crude oil is more than 20% off its high, petrol has not fallen 20% yet, though.

It won't. Only a tiny proportion of the pump price is crude oil.

I thought the tax was proportinate? If petrol was 1p a litre, how much would the tax be?

Momentum 137.9 here

[BoostMonkey]

deeen said:

I thought the tax was proportinate? If petrol was 1p a litre, how much would the tax be?

Momentum 137.9 here

132.9p in Leicester - your being mugged chap.

[Dr Jekyll]

deeen said:

I thought the tax was proportinate? If petrol was 1p a litre, how much would the tax be?

I think it's about 58p fuel duty plus vat. So about 70p tax on a 1p litre.

Edited by Dr Jekyll on Thursday 14th June 15:11