Friday 21st November 2008

Experts Predict 83p Fuel by Christmas

Morrisons is first to push prices below 90p a litre

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Petrol prices could drop by over 10p a litre by Christmas, it has been reported. Due to a drop is the price of crude oil to below $50 a barrel experts now predict that forecourt prices will be considerably lower next month.

Average pump prices yesterday were 94.53p a litre for unleaded and 108.66p for diesel. Supermarket chain Morrisons is now planning to drop its prices below 90p. From this morning unleaded will cost 89.9p at its forecourts and this is likely to force other retailers to slash their prices.

Brendan McLoughlin, the founder of PetrolPrices.com, said: ‘Our calculations suggest that the price of unleaded could fall to 82.9p a litre by Christmas, but don’t underestimate the influence the value of the pound has.

‘Compared to August, the pound has dropped by around 25 per cent against the dollar. If it strengthens we’ll get better value for money when buying oil and pump prices could drop below 75p a litre.’

[Gatso Hater]

Well it's about time we got some half reasonable prices at the pumps

[martaay]

its funny theres always 'something' working against the price we pay at the pumps... all i know is im still paying £1.08 at the pumps for diesel and yet the Oil price is the lowest in over 3 years

Edited by martaay on Friday 21st November 11:34

[Mclovin]

what happened to peak oil and all that st about prices being £2 a litre by now...love how the press ramped up the stories about oil to make a load of dosh for a chosen few...

[spicjt]

dont the oil companies take like 2-3 months to pass on the reductions, hence why 'we' are now only seeing it. coming from the plastic industry, based on oils, it has gone up but fuel is just a joke at the increase we have had.

i cant see why in this diffcult time the govenment dont just drop tax on it by 10-15% for a short time frame, mind you once it goes down who wants to pay more!?

[leon9191]

Deer santa for christmas I would like... to fill the car up for less than fifty quid! If it drops to 75p I'm buying a TVR!

[Scho]

[Batfink]

i dont understand how a lower value pound works in our favour. Surely if 1 pound is worth 2 dollars I can buy oil cheaper?

edit - sorry being retarded - I still dont understand how petrol was not this cheap while the pound was strong, I guess thats how the oil giants made their profit the last few quarters

Edited by Batfink on Friday 21st November 11:50

[Stig]

Batfink said:

i dont understand how a lower value pound works in our favour. Surely if 1 pound is worth 2 dollars I can buy oil cheaper?

Well done, except a pound is only worth about 1.5 dollars at the mo!

[dublet]

Batfink said:

i dont understand how a lower value pound works in our favour. Surely if 1 pound is worth 2 dollars I can buy oil cheaper?

They were saying it doesn't work out in our favour.

[varsas]

Wow, I'm gonna start driving the XJ-S to work!

Batfink said:

i dont understand how a lower value pound works in our favour. Surely if 1 pound is worth 2 dollars I can buy oil cheaper?

I think they were saying that the pound has fallen a lot, if it comes back up a bit petrol will get even cheaper.

[nakedninja]

leon9191 said:

Deer santa for christmas I would like... to fill the car up for less than fifty quid! If it drops to 75p I'm buying a TVR!

You sir, have the right idea!

[205gtinut]

I still don't understand why there is such a gulf (no pun intended) between petrol and diesel! I'm starting to think theres no point in having a diesel, may as well get a petrol car, it'll cost me a lot less to fill up and I won't get much worse economy than I'm geting now!! Bizzare.....

On a more positive note I've just bought an MX-5 so really pleased to see petrol prices falling, more hooning around for less spondoolies!!

[j3gme]

What about GAS and ELECTRIC my pence per kilowatt hasnt dropped in price but yet it shot up 40% this year and that was blamed on oil prices!!

[tonytifoso]

Great news, now Captain Darling(read tw@t!) can re-introduce the fuel tax ladder with a clear conscience. Still mustn't grumble.

[northandy]

Shame the petrol price is the only headline... still dont know how we've gone from Diesel being a few pence more per litre, to now beiing close to 20p per litre more.

I'd like to see an fuel producer actually answer that question

[Batfink]

its about oil refineries. Apparently even though demand is higher theres been no investment in infrastructure (ie more diesel refineries) so theres more demand than supply so high prices.

[baptistsan]

So jut wait for Gordo et. al. to ramp up the tax

[Paul GTS]

Yay the Skyline can come out to play a little bit more now.

Pity the day car runs on Diesal though, can believe that hasnt really fallen much at all!

[tivver500]

nakedninja said:

leon9191 said:

Deer santa for christmas I would like... to fill the car up for less than fifty quid! If it drops to 75p I'm buying a TVR!

You sir, have the right idea!

YIPPEE if it drops to 75p - I've GOT a TVR.....
At least the difference between 95ron and 98ron is less now (so the Griff gets more of the good stuff)

[Kieran XJR]