Petrol prices- when does the madness end?

[Antony Moxey]

Ankh87 said:

okgo said:

TyrannosauRoss Lex said:

Friend of mine doing about 1400ish miles per month spending an extra £120/month compared to if fuel was 130p/L. That's significant for a lot of people.

I barely do that monthly figure a year. I’d very much say your mate is doing hugely more than most.

A bit like the impact of food prices rising when you have 4 children.

How the heck do you do less than that a year? Even if you did 1400 miles a year that works out at 3.83 miles per day. You should be walking that or buy a bicycle for that little.

I’m pretty sure okgo is a keen and very prolific cyclist.

[Gweeds]

GetCarter said:

Out of interest, you'll be getting 50% .. or even 75% of ALL motoring costs against tax? So an EV will be a shed load cheaper to buy or lease.

I know this as I am in the same position (photography) and have just got an EV and have saved over £500 in fuel costs in the past two months.(I also do 8k a year, but most of my miles are under 30 a day, so my hybrid means I'll only fill with fuel 2 or 3 times a year, so that does mean I'm in a rather unusual position).

Yes - but I still want a few more years of a really good straight six. This car is paid for and mine, and means I don't have any monthlies to service.

For instance I'm about to leave for Stratford-upon-Avon, from Hants, for a wedding tomorrow, and from there after I'll be heading to Rutland for Saturday's before driving back. That's an unusual weekend, but I will enjoy the car for another 3 years I think.

[Silverage]

Texaco station in my village, never the cheapest, I noticed diesel at the magic 199.9 the day before yesterday. Went past yesterday and it was 204.9.

[GetCarter]

Gweeds said:

GetCarter said:

Out of interest, you'll be getting 50% .. or even 75% of ALL motoring costs against tax? So an EV will be a shed load cheaper to buy or lease.

I know this as I am in the same position (photography) and have just got an EV and have saved over £500 in fuel costs in the past two months.(I also do 8k a year, but most of my miles are under 30 a day, so my hybrid means I'll only fill with fuel 2 or 3 times a year, so that does mean I'm in a rather unusual position).

Yes - but I still want a few more years of a really good straight six. This car is paid for and mine, and means I don't have any monthlies to service.

For instance I'm about to leave for Stratford-upon-Avon, from Hants, for a wedding tomorrow, and from there after I'll be heading to Rutland for Saturday's before driving back. That's an unusual weekend, but I will enjoy the car for another 3 years I think.

Fair enough. Enjoy.

[Tyre Smoke]

Silverage said:

Texaco station in my village, never the cheapest, I noticed diesel at the magic 199.9 the day before yesterday. Went past yesterday and it was 204.9.

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

[Smiljan]

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

[Court_S]

Smiljan said:

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

There were various reports about the wholesale price of fuel dipping a few weeks ago, yet the prices have only gone one way since.

[GetCarter]

Smiljan said:

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

Indeed. It's not crude oil that powers our cars, that's way down the production line.

[hotchy]

So a car forum where the majority "don't drive much"

Mumsnets may suit you better.

[DonkeyApple]

Tyre Smoke said:

Silverage said:

Texaco station in my village, never the cheapest, I noticed diesel at the magic 199.9 the day before yesterday. Went past yesterday and it was 204.9.

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

How much oil do you think was bought during that very short lived price spike? Sweet FA is the answer which is why it was barely noted downstream in petrol pricing.

Conversely, the price has been steadily climbing in reality. For simplicities sake, just stick an imaginary line through the last 4 months of this chart and you'll be able to see very clearly the trend:

[Court_S]

Smiljan said:

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

There were various reports about the wholesale price of fuel dipping a few weeks ago, yet the prices have only gone one way since.

[Tyre Smoke]

GetCarter said:

Smiljan said:

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

Indeed. It's not crude oil that powers our cars, that's way down the production line.

Ok, for clarity because of the nitpicking...

I know we don't use Brent Crude in our cars, but it is a recognised barometer of the wholesale oil market.

I know it isn't as simple as measuring base product against retail price. However, refining doesn't cost more to carry out whether the product is $1 a barrel or $1000. The price of diesel and petrol in May wasn't £1.95 when Crude was $135.

[Smiljan]

hotchy said:

So a car forum where the majority "don't drive much"

Mumsnets may suit you better.

Anyone starting a sentence with So should be forced to drive a Honda Jazz for the rest of their life

[yellowbentines]

Tyre Smoke said:

Ok, for clarity because of the nitpicking...

I know we don't use Brent Crude in our cars, but it is a recognised barometer of the wholesale oil market.

I know it isn't as simple as measuring base product against retail price. However, refining doesn't cost more to carry out whether the product is $1 a barrel or $1000. The price of diesel and petrol in May wasn't £1.95 when Crude was $135.

Our currency is also £, not $, and isn't doing too well against the $ these days, so that's not going to help.

[anonymous-user]

Tyre Smoke said:

GetCarter said:

Smiljan said:

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

Indeed. It's not crude oil that powers our cars, that's way down the production line.

Ok, for clarity because of the nitpicking...

I know we don't use Brent Crude in our cars, but it is a recognised barometer of the wholesale oil market.

I know it isn't as simple as measuring base product against retail price. However, refining doesn't cost more to carry out whether the product is $1 a barrel or $1000. The price of diesel and petrol in May wasn't £1.95 when Crude was $135.

Is it nitpicking to point out Brent Crude wasn't $135 in May?

Is it nitpicking to point out that the £ buys less $ than in May?

[DonkeyApple]

hotchy said:

So a car forum where the majority "don't drive much"

Mumsnets may suit you better.

Arguably shows a lack of understanding of the world though. Not everyone is a travelling salesmen or even need a car for commuting. Some people have partners who do the school run and the shopping. For plenty of people the car is about pure fun as opposed to being a compromised tool for daily chores.

I'd hazard that the average daily travels by car could be higher for users of mumsnet than many car fans on PH.

I have to keep the cars on trickle charge due to not having to use them for commuting, school runs or shopping.

[RochdalePioneers]

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

It hit a peak of $128 - briefly. But if you look at the trend line the price has been steadily rising all year. And the pound has continued to devalue against the dollar. So the price in dollars going heavily up and the value of dollars that a pound buys going down.

[rallycross]

I’m finding it painful paying £10 a gallon especially when 80-90-% of it is going to the government .

[petop]

rallycross said:

I’m finding it painful paying £10 a gallon especially when 80-90-% of it is going to the government .

But thats not really relevant....or correct. If it was £1.20 (including the 5% reduction which really didnt have any effect) the same amount is taken as you say by the Government. Ignore the 20% VAT though as its standard for most things we buy. So if you look at £1.99 only 50p or so goes to the Government.
Include Duty and VAT its around 45%.
Its the wholsale price for refining and supply which is the other majority of the cost so blame the oil companies.

Edited by petop on Thursday 23 June 20:51

[D4rez]

Roman Rhodes said:

Tyre Smoke said:

GetCarter said:

Smiljan said:

Tyre Smoke said:

And yet Brent Crude is $106 a barrel compared to $135 in May. But prices continue to rise??

It's not profiteering though.

If only it was a simple as comparing the raw material vs the end product price. Sadly there are many other variables that are making the prices painful for us.

Indeed. It's not crude oil that powers our cars, that's way down the production line.

Ok, for clarity because of the nitpicking...

I know we don't use Brent Crude in our cars, but it is a recognised barometer of the wholesale oil market.

I know it isn't as simple as measuring base product against retail price. However, refining doesn't cost more to carry out whether the product is $1 a barrel or $1000. The price of diesel and petrol in May wasn't £1.95 when Crude was $135.

Is it nitpicking to point out Brent Crude wasn't $135 in May?

Is it nitpicking to point out that the £ buys less $ than in May?

Is it nitpicking to mention that the price is a forward contract and that $106 isn’t for delivery until September… and the $135 is what’s working it’s way through refineries right now? Honestly…