£1.29 per liter.

[paulmoonraker]

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...

Of course, the government will slap more tax on, so don't get too excited...

-P

[AJI]

mazdajason said:

I wouldn't say 'cheap'. Petrol will never be cheap again I doubt. I'll consider it cheap when it's £1 a litre.

I would say £1/litre was a fair price. 50p/litre would be cheap. Anything over £1/litre is too much.

All IMO of course.

[chris7676]

paulmoonraker said:

I dare say it's the demand at the forecourt that drives prices, rather than the price per-barrel.

You are wrong, it's the market price + taxes. Price elasticity is very limited and differences are only a few %.

paulmoonraker said:

Of course, the government will slap more tax on, so don't get too excited...

You are right, unfortunately.

[Z4monster]

jet_noise said:

Dear OSL,

OdramaSwimLaden said:

The "if it hits £1.00 a litregallon, it will be armageddon" days are long gone!

Fixed that for you.



I'm old(er)

regards,
Jet

I remember when petrol went up to £1 per gallon. It was around July 1980 as we went on holiday to Scotland and my mum thought it was MAD to be driving all that way when petrol was so expensive. Ah happy days!

[s2ooz]

AJI said:

mazdajason said:

I wouldn't say 'cheap'. Petrol will never be cheap again I doubt. I'll consider it cheap when it's £1 a litre.

I would say £1/litre was a fair price. 50p/litre would be cheap. Anything over £1/litre is too much.

All IMO of course.

it was 37p a litre when I passed my test....
just 25 years and 1.5 million miles ago.

In 1998 it took £50 to fill up my TVR and I thought that was expensive..

[hollydog]

Trouble is with fuel its been tested on how much we are willing to pay for it now and will not come down that much now. In my way of thinking if the fuel prices do come down it would encourage people to go out more and spend money. Which would be good for the world economy. High fuel price are effecting peoples spending.

[paulmoonraker]

chris7676 said:

paulmoonraker said:

I dare say it's the demand at the forecourt that drives prices, rather than the price per-barrel.

You are wrong, it's the market price + taxes. Price elasticity is very limited and differences are only a few %.

So if people shop around more it wont help pull prices down? I guess if this is the case then there can be hardly any margin in petrol, so you may be right... Damn... People Power FAIL...

[Harji]

Chrisw666 said:

I filled up at 1.32.9 on Sunday and still have almost a full tank.

I might go for a run out tonight to empty it, that way I'll save money when I buy more.

Man logic at it's best. Think I'll give the RX-8 a run over the weekend, should last for about 2 hours.

[s2ooz]

hollydog said:

Trouble is with fuel its been tested on how much we are willing to pay for it now and will not come down that much now. In my way of thinking if the fuel prices do come down it would encourage people to go out more and spend money. Which would be good for the world economy. High fuel price are effecting peoples spending.

absolutley. When I paid 37p I would happily wonder off to blackpool or bristol or edinburgh for a beer and b+b and maybe buy some clothes or a pretty lady a drink.

Now I wouldn't. It takes £60 in fuel just to get to the seaside and buy an ice cream. no thanks.

So yeah if the gov want to bounce us out of recession ignore the traffic levels and commitment to co2 gases and do an amnesty price on fuel tax for a month or two. They certainly plough millions into regeneration funds for a pot of different schemes that have little effect.

That, and make weather forecasters predict the potential for sun, not the likely hood of rain...

[Chris Type R]

http://www.investmentweek.co.uk/investment-week/ne...

We may have even cheaper fuel in the near future (if Brent Crude does drop to $50pb).

UK Plc will be in big trouble though.

[pistonchris]

hollydog said:

Trouble is with fuel its been tested on how much we are willing to pay for it now and will not come down that much now. In my way of thinking if the fuel prices do come down it would encourage people to go out more and spend money. Which would be good for the world economy. High fuel price are effecting peoples spending.

I have always thought this if fuel was cheaper people would think nothing of driving further.
Then they would fill up more.
Are they would still drive the same but have more spare money that they would then spend in shops so helping the country that way.

[croyde]

jet_noise said:

Dear OSL,

OdramaSwimLaden said:

The "if it hits £1.00 a litregallon, it will be armageddon" days are long gone!

Fixed that for you.



I'm old(er)

regards,
Jet

I'm sure I remember my Dad filling up his Daf 44 for 30 odd p a GALLON back in the 70s and I remember saying that if beer got to a £1 a pint, I'd give up drinking.

Pints of Skol for 30 odd p back in the early 80s, but then I was on 90p an hour working in a shop.

[Composite Guru]

pistonchris said:

I have always thought this if fuel was cheaper people would think nothing of driving further.
Then they would fill up more.
Are they would still drive the same but have more spare money that they would then spend in shops so helping the country that way.

Unfortunately we don't have people that think like that running the country at the mo (not that i like labour either).

Maybe there is more to it than that but it makes sense.

[jay140285]

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.

[mazdajason]

s2ooz said:

AJI said:

mazdajason said:

I wouldn't say 'cheap'. Petrol will never be cheap again I doubt. I'll consider it cheap when it's £1 a litre.

I would say £1/litre was a fair price. 50p/litre would be cheap. Anything over £1/litre is too much.

All IMO of course.

it was 37p a litre when I passed my test....
just 25 years and 1.5 million miles ago.

In 1998 it took £50 to fill up my TVR and I thought that was expensive..

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.

A couple of years ago When I had my Subaru it was £1.19 for V-power I think though so it has shot up. And to think I grudgingly( spelling??) paid that!

[Chris Type R]

pistonchris said:

I have always thought this if fuel was cheaper people would think nothing of driving further.
Then they would fill up more.
Are they would still drive the same but have more spare money that they would then spend in shops so helping the country that way.

% wise, the tax take on fuel is probably higher than that of stuff in shops.

[Matthen]

paulmoonraker said:

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...

Sure didnt look like that on saturday night - A303/M3 was running at 80mph in the slow lane, with people blasting past at 100+... Of course, that was when there were other cars to observe... Never driven from the Mere bypass to Winterbourne Stoke without seeing aother sole before..

[AJI]

mazdajason said:

s2ooz said:

AJI said:

mazdajason said:

I wouldn't say 'cheap'. Petrol will never be cheap again I doubt. I'll consider it cheap when it's £1 a litre.

I would say £1/litre was a fair price. 50p/litre would be cheap. Anything over £1/litre is too much.

All IMO of course.

it was 37p a litre when I passed my test....
just 25 years and 1.5 million miles ago.

In 1998 it took £50 to fill up my TVR and I thought that was expensive..

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.

A couple of years ago When I had my Subaru it was £1.19 for V-power I think though so it has shot up. And to think I grudgingly( spelling??) paid that!

Well my view is that considering the amount of profit the oil cartels/companies make along with the amount of money the government rakes in from double taxing the product, any price over £1/litre (as a round number bench mark) is too much.

If it were a case that the big oil companies were only scraping by in order to survive and that the government took a 'fair' tax from the product and the price was still over £1/litre then I would begrudginly say 'fair enough'..... but this isn't the case.

[uuf361]

jbi said:

3p a litre tax increase on the way

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

[paulmoonraker]

Matthen said:

paulmoonraker said:

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...

Sure didnt look like that on saturday night - A303/M3 was running at 80mph in the slow lane, with people blasting past at 100+... Of course, that was when there were other cars to observe... Never driven from the Mere bypass to Winterbourne Stoke without seeing aother sole before..

For regular business drivers like me it is. Sure, get me on the road late at night and that's a different case...