RE: Oil price hits new high
Wednesday 22nd June 2005
UK motorists suffer mostCrude oil hit new heights this week, with prices scraping $60 a barrel. Prices at the petrol pump have, as ever when the price goes up, responded fast. And UK prices are, predictably, the highest in Europe.
Oil price hits new high
Petrol prices rise and are highest in UK
UK motorists suffer most
In Germany, motorists are paying up to 1.235 euros (82p) a litre for petrol and 1.092 euros a litre for diesel. And in the UK, it's up to 86p a litre, which is only just shy of the 86.1p per litre level that it hit in April. Diesel in the UK also hit just under a record high of 89.9p per litre on Friday, which makes it the most expensive in Europe. Prices last attained these levels in mid-April, and peaked at 90p a litre on 15 April.
As Reuters reports, "UK prices still surpass levels that brought the country to a standstill in September 2000, when hauliers and farmers led nationwide fuel blockades and protests, triggered by an average price of 85.3 pence per litre in June of that year."
Oil analysts reckon that there's still a need for more upward price movement in the UK because the retail margin at 4.3p per litre is lower than the 6p per litre they see as the sustainable level for a petrol retailer.
Discussion
vote for good politicians that have at heart this country instead of their pockets
Taxes on petrol should go down but then how do you fill the coffers for squandering the money?
Also where are the protesters for this rip-off? On holiday? Or there is now some sort of russian acceptance of the situation?
No wonders that consumer confidence is dropping in UK and people are deserting the streets to buy on the net.
As usual it has to get worse before it gets better but with socialists at the helm of England...
They will never tag cars because there will be a revolution for good and they are too scared to do it. And about trains? They should be renationalized and run with political prices low enough to incentivate their use.
Aston67
Taxes on petrol should go down but then how do you fill the coffers for squandering the money?
Also where are the protesters for this rip-off? On holiday? Or there is now some sort of russian acceptance of the situation?
No wonders that consumer confidence is dropping in UK and people are deserting the streets to buy on the net.
As usual it has to get worse before it gets better but with socialists at the helm of England...
They will never tag cars because there will be a revolution for good and they are too scared to do it. And about trains? They should be renationalized and run with political prices low enough to incentivate their use.
Aston67
The one thing that is never mentioned anywhere is that the £-$ has changed so much since 2000 when it was $1.30 to the pound not the $1.85-90 that it is now.
Am I the only one who thinks we are getting even worse ripped off now??? That means the price of a barrel in the UK has gone from approx £46 in 2000 to £33 now..... But the pump prices keep going up....
IT DRIVES ME NUTS!! And the press never comment on it!
Am I the only one who thinks we are getting even worse ripped off now??? That means the price of a barrel in the UK has gone from approx £46 in 2000 to £33 now..... But the pump prices keep going up....
IT DRIVES ME NUTS!! And the press never comment on it!
I'm having to pay 92.9ppl (desiel) around my area, it's absolutly discusting 
that with the new road charging idea and conjestion charging on trains for chri$t sake, especially when you consider the amount of tax they (yonder tea leafing ones) take off from transport of all types compared to the amount they spend on them!! someone up on high needs to be asking some sperious questions about where all the money is going!
oh i forgot, they are the ones benefiting from it.
I'll get off my
now.
that with the new road charging idea and conjestion charging on trains for chri$t sake, especially when you consider the amount of tax they (yonder tea leafing ones) take off from transport of all types compared to the amount they spend on them!! someone up on high needs to be asking some sperious questions about where all the money is going!
oh i forgot, they are the ones benefiting from it.
I'll get off my
now.all our money is going to pay the pensiono of civil servants, politicias, friend of politicians with incredibly expensive projects, to teenager paid to stay at school and list goes on and on
When in this country there will be someone to say "ENOUGH OF THIS SHIT!" and start making some changes.
There is too much state, too much control where it is not needed and too little where instead it would be.
Labour is eating away all resources and just pray that the Lottery money will last for a while. Then when they will finish that carcas...
Aston67
When in this country there will be someone to say "ENOUGH OF THIS SHIT!" and start making some changes.
There is too much state, too much control where it is not needed and too little where instead it would be.
Labour is eating away all resources and just pray that the Lottery money will last for a while. Then when they will finish that carcas...
Aston67
roosevelt said:
What makes me sick is the levels of profit petrol companies announce, now they expect to make 6p per litre instead of the current 4.3p...
I think this refers to what the retaier, i.e. the garage owner makes, not what the oil company makes. 6ppl is not much when the public expects you to be open 24/7 and any losses from "drive offs" come out of the retailers pocket. I remember a mate who was an Esso retailer in NE Scotland telling me that most of his profit came from the sweets, cigs and magazines he sold in the shop, not the fuel
cjrv8 said:
I'm having to pay 92.9ppl (desiel) around my area, it's absolutly discusting
At that price it's worth mail ordering biodiesel www.simplybiodiesel.co.uk/products.asp
Who voted for this idiot goverment??? not that there is any viable alternative, it seems it a sign of the times that its "trendy" to bash the motorist, screw them to the floor for every penny, after all its the motorist like myself owning 3 cars and 2 bikes that are creating the floods here in North Yorkshire, the Ice cap melt in Antartica, the decline of the lesser spotted turd newt... nothing to do with industry pumping tonnes per second of crap in the air!!! the motorist pays billions per year into the Treasury and all we get is grief!!! how would things look in this country alone if we could stop all car/ automotive and related industries for one week, no money??, mass unemployment??, infrastructure of the country would fail, but at least the air would be clean, and all the fluffy bunnies would be hopping nicely... Right thats it, am off to kick the dog!!! 
Not one comment on my info above about the real cost of oil going down in the UK due to the exchange rate..... the oil companies set the price and the government then just puts (theft) on top.... So you also need to have a pop at the oil companies using dollar prices to justify the rises ignoring the strong pound we all use to buy the stuff....
[pessimist (or realist??)]
Watch for the new "Pasta Tax" to be announced at the next budget, as that's what powers my bicycle, and thats the only way we can now travel...
As we are supposed to get fat and watch TV all day every day when at home on the dole (as we can't afford to get to work), Bugger King and McD's are to recieve a government subsidy to encorage us not to exercise. Thus there will be no revolution as no-one is fit to do anything.
Postal Voting will become mandatory as it would be to easy for people to mix and become dis-enchanted at a polling station (well, we are not allowed to go anywhere else). Also, the current government have proved that postal voting is a far more secure (at least it secures the vote they want...)
And, if I don't pay £300, or £500, or whatever it is this week for an ID card, then I won't be able to leave the country either as I won't be able to board a flight. It's a long walk to Dover to get a boat, and I'm huge and unfit as I sit infront of the TV all day eating McD's/BK so I can't do that.
[/pessimist]
Pete
Watch for the new "Pasta Tax" to be announced at the next budget, as that's what powers my bicycle, and thats the only way we can now travel...
As we are supposed to get fat and watch TV all day every day when at home on the dole (as we can't afford to get to work), Bugger King and McD's are to recieve a government subsidy to encorage us not to exercise. Thus there will be no revolution as no-one is fit to do anything.
Postal Voting will become mandatory as it would be to easy for people to mix and become dis-enchanted at a polling station (well, we are not allowed to go anywhere else). Also, the current government have proved that postal voting is a far more secure (at least it secures the vote they want...)
And, if I don't pay £300, or £500, or whatever it is this week for an ID card, then I won't be able to leave the country either as I won't be able to board a flight. It's a long walk to Dover to get a boat, and I'm huge and unfit as I sit infront of the TV all day eating McD's/BK so I can't do that.
[/pessimist]
Pete
some facts for those who may not know:
the oil companies do not set the oil price. the price is established by international trading via supply and demand, ie, a bloody big auction for the main types of oil. Brent, Texas and Saudi and russian. they are currently enjoying good years because the price is up. they can eventually supply more but it will take time.
the oil companies, certainly in the UK pay big taxes, Petroleum Revenue Tax, i mean HUGE.
the supply of oil is determined by the number of producing wells and the number of tankers to deliver it to refineries. if the demand goes up, the supply chain (ships and pipelines) cannot always meet it, there is a shortage of some types of tankers. there are is also a finite refinery capacity, you might supply more crude, but it can only be refined at a finite rate. and refineries have to shut down for maintenance from time to time.
it takes a few years to drill, develope then bring on stream wells. due to previously low oil prices ($10-$20/bbl a few years back) there was no bussiness incentive for the oil companies to drill/develope wells in expensive areas. now with higher prices the oil companies are drilling/developing again. these supplies from these wells will take time to enter the supply chain.
the products, gasoline, diesel, heavy fuel oil, etc, are also traded internationally, and shipped round the world to the location with the best price.
the european fuel prices and especially the UK, what you pay at the pump....its all tax.
if oil were $100/bbl, petrol would only cost 50p/litre. compare with the US, at todays price they pay about half what we do.
the duty is the problem, not the oil price. there is no shortage, still plenty in the ground.
>> Edited by ian d on Wednesday 22 June 16:37
the oil companies do not set the oil price. the price is established by international trading via supply and demand, ie, a bloody big auction for the main types of oil. Brent, Texas and Saudi and russian. they are currently enjoying good years because the price is up. they can eventually supply more but it will take time.
the oil companies, certainly in the UK pay big taxes, Petroleum Revenue Tax, i mean HUGE.
the supply of oil is determined by the number of producing wells and the number of tankers to deliver it to refineries. if the demand goes up, the supply chain (ships and pipelines) cannot always meet it, there is a shortage of some types of tankers. there are is also a finite refinery capacity, you might supply more crude, but it can only be refined at a finite rate. and refineries have to shut down for maintenance from time to time.
it takes a few years to drill, develope then bring on stream wells. due to previously low oil prices ($10-$20/bbl a few years back) there was no bussiness incentive for the oil companies to drill/develope wells in expensive areas. now with higher prices the oil companies are drilling/developing again. these supplies from these wells will take time to enter the supply chain.
the products, gasoline, diesel, heavy fuel oil, etc, are also traded internationally, and shipped round the world to the location with the best price.
the european fuel prices and especially the UK, what you pay at the pump....its all tax.
if oil were $100/bbl, petrol would only cost 50p/litre. compare with the US, at todays price they pay about half what we do.
the duty is the problem, not the oil price. there is no shortage, still plenty in the ground.
>> Edited by ian d on Wednesday 22 June 16:37
absolutely correct...there is plenty of oil around...my uncle worked for BP on the rigs for 15 years....he was never going to be out of a job...albeit it's slowing down in the North Sea and they are having to use ever more inventive ways of squeezing every last drop out.
The problem with North Sea oil (refer to an earlier post about UK being an exporter) is that is the heavy type not really suitable for refining into petrol, it is I believe more used for lubricants etc. So although an exporter, we are not exporting petrol.
The crux of it all is that there are approx 24 million cars in the UK and over £44 billion is raised each year by the government on fuel duty and road tax. Only £9 or £10 billion is actually spent on transport, the rest is spent on all the other things this government believe is more important.
So - given the majority of us are all car users, lets excercise our right to vote with our feet/cars and just organise another go slow etc to try and get something done? Although, who the chuff is going to volunteer to organise it?!
The other thing to mention is that Aviation fuel is exempt from tax - they pay approx 0.20p per litre for fuel, yet a single flight from London to New York generates more carbon dioxide than a 4.2 litre Range Rover does in an entire year....
Considering it's the smelly, inefficient jet engines that are producing the most pollution, it's about time the government did something about it.
AND FINALLY - what is the point of the rest of europe being squeezed until the pips squeek over "polluting" cars and ever increasing fuel tax, when the world's largest economy, the USA, are still encouraging 3 ton SUV's with 6 litre petrol engines doing knack all to the gallon and chucking out twice or more emissions.
We are on a losing battle, no matter how much Europe reduces emissions on cars, you always have the USA (and China probably) with no legislation and no incentives to reduce pollution just filling the emissions gap Europe has created.
Sorry, bit of a ramble...but by god this f**king pis*es me off..
The problem with North Sea oil (refer to an earlier post about UK being an exporter) is that is the heavy type not really suitable for refining into petrol, it is I believe more used for lubricants etc. So although an exporter, we are not exporting petrol.
The crux of it all is that there are approx 24 million cars in the UK and over £44 billion is raised each year by the government on fuel duty and road tax. Only £9 or £10 billion is actually spent on transport, the rest is spent on all the other things this government believe is more important.
So - given the majority of us are all car users, lets excercise our right to vote with our feet/cars and just organise another go slow etc to try and get something done? Although, who the chuff is going to volunteer to organise it?!
The other thing to mention is that Aviation fuel is exempt from tax - they pay approx 0.20p per litre for fuel, yet a single flight from London to New York generates more carbon dioxide than a 4.2 litre Range Rover does in an entire year....
Considering it's the smelly, inefficient jet engines that are producing the most pollution, it's about time the government did something about it.
AND FINALLY - what is the point of the rest of europe being squeezed until the pips squeek over "polluting" cars and ever increasing fuel tax, when the world's largest economy, the USA, are still encouraging 3 ton SUV's with 6 litre petrol engines doing knack all to the gallon and chucking out twice or more emissions.
We are on a losing battle, no matter how much Europe reduces emissions on cars, you always have the USA (and China probably) with no legislation and no incentives to reduce pollution just filling the emissions gap Europe has created.
Sorry, bit of a ramble...but by god this f**king pis*es me off..
Paid 97.8p/litre for Super U/L at Oxford services on the M40 last night.
With public transport using high fuel prices as a lever to extort even higher prices as well,, I think the time is probably coming for another fuel protest.
We should all buy a few extra gallons, go to London and set fire to Gordon Brown
>> Edited by corozin on Wednesday 22 June 17:20
With public transport using high fuel prices as a lever to extort even higher prices as well,, I think the time is probably coming for another fuel protest.
We should all buy a few extra gallons, go to London and set fire to Gordon Brown
>> Edited by corozin on Wednesday 22 June 17:20
philbar said:
Couldn't have put it better myself
ian d said:
some facts for those who may not know:
the oil companies do not set the oil price. the price is established by international trading via supply and demand, ie, a bloody big auction for the main types of oil.
While strictly true, Is it not also true that OPEC up the market by restricting supply.
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