Petrol prices- when does the madness end?
Discussion
Easternlight said:
Without going back over the thread, might have been covered already.
I've never had to look further than my local Tesco for the cheapest unleaded, but over the last few weeks they have been a few 3/4p a litre up on the other retailers around them.
Diesel is the same as the local competition.
Seems odd that they appear to have given up their undercutting?
We all know retailer margins are slim and nobody wants to be out of kilter with another - the differences will come down to when they purchased the fuel and the prices they paid. I've never had to look further than my local Tesco for the cheapest unleaded, but over the last few weeks they have been a few 3/4p a litre up on the other retailers around them.
Diesel is the same as the local competition.
Seems odd that they appear to have given up their undercutting?
kingston12 said:
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.
it may be cheaper for you to use taxis?
I used to get the train into work (WFH now) and virtually everything else is within easy walking distance. Most social meet-ups are either local or on the train into central London. I never go shopping, as have everything delivered now.
The car is used for family visits and occasional longer journeys to more rural areas, but spends a lot of time in my garage...
For the forseeable i've given up on supermarket fuels completely, when they were 7p or 17p a litre cheaper than the branded garage which was again cheaper than an MSA, and fuel was £1.20 then 7p could be a worthwhile saving.
Now the difference is 2 or 3p on a litre costing £2, even if it was 7p cheaper it isn't worth worrying about.
Just out of interest i was one who never thought much about the difference in quality between supermarket and branded fuels, but with my Forester XT back in April it proved impossible to find LPG, so i filled up with Texaco premium petrol (only about 4p more expensiive than the local supermarkets), the car went like a scalded cat on that tankful, more power low down than on LPG obviously but noticeably more responsive than when running on supermarket petrol too.
From now on branded fuel it is.
For the first time ever, couple of weeks ago when Diesel was £2.06 at Esso Swindon, it was cheaper at Leigh Delamare MSA, £1.99ish i think but don't quote me, the only time i can recall seeing cheaper fuels at an MSA before is sometimes with LPG, costs of which can vary enormously.
Now the difference is 2 or 3p on a litre costing £2, even if it was 7p cheaper it isn't worth worrying about.
Just out of interest i was one who never thought much about the difference in quality between supermarket and branded fuels, but with my Forester XT back in April it proved impossible to find LPG, so i filled up with Texaco premium petrol (only about 4p more expensiive than the local supermarkets), the car went like a scalded cat on that tankful, more power low down than on LPG obviously but noticeably more responsive than when running on supermarket petrol too.
From now on branded fuel it is.
For the first time ever, couple of weeks ago when Diesel was £2.06 at Esso Swindon, it was cheaper at Leigh Delamare MSA, £1.99ish i think but don't quote me, the only time i can recall seeing cheaper fuels at an MSA before is sometimes with LPG, costs of which can vary enormously.
Fastpedeller said:
kingston12 said:
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.
it may be cheaper for you to use taxis?
I used to get the train into work (WFH now) and virtually everything else is within easy walking distance. Most social meet-ups are either local or on the train into central London. I never go shopping, as have everything delivered now.
The car is used for family visits and occasional longer journeys to more rural areas, but spends a lot of time in my garage...
My comment..... It may be cheaper for you to sell the car and use taxis
Han Solo said:
I do 600 p/w commuting from the North.
FFRR fuel bill was getting on for £800 p/m, that was when fuel was 170 or so.
Swapped to my e class and with fuel at 195 or so it’s around £110 per fill up (55litres) so still £500 or so per month.
Getting beyond a joke now.
I commuted 450 miles per week for many years. Time lost in congestion and high fuel costs were significant factors in my decision to retire. That's without today's elevated prices.FFRR fuel bill was getting on for £800 p/m, that was when fuel was 170 or so.
Swapped to my e class and with fuel at 195 or so it’s around £110 per fill up (55litres) so still £500 or so per month.
Getting beyond a joke now.
But dear chap, the joke is on you. So is the pressure to find a way of reducing your commuting costs. After all, who else cares about your plight?
Easternlight said:
Without going back over the thread, might have been covered already.
I've never had to look further than my local Tesco for the cheapest unleaded, but over the last few weeks they have been a few 3/4p a litre up on the other retailers around them.
Diesel is the same as the local competition.
Seems odd that they appear to have given up their undercutting?
Some of the issue will be the high volatility of the underlying product at the moment. When the market is stable then everyone is buying at much similar prices even if dealing a day or more apart. But at the moment the u deleting market is whipsawing within a wider than normal range so even intra day differences are in percentage points. This just means it's hard to then run an end price that consistently undercuts. At the same time, I'm not entirely sure many people are being that price sensitive at the moment. I'd wager that even a penny or more dearer few people are bothering to travel further or differently for a penny saving. I've never had to look further than my local Tesco for the cheapest unleaded, but over the last few weeks they have been a few 3/4p a litre up on the other retailers around them.
Diesel is the same as the local competition.
Seems odd that they appear to have given up their undercutting?
a_dreamer said:
tescorank said:
No they aren't. This ignores a number of factors including the fact that the pound is week as f
k. This isn't a conspiracy by the oil companies to make you go ev
At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
Megaflow said:
This got me curious so I googled some stuff, 14/06/2008 oil was $133 a barrel and the exchange rate was 1.944, so oil was £68.41 a barrel.
At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
I didn’t vote for Brexit but it isn’t anything to do with brexit!At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
tescorank said:
No. It's just that the person who sent you that is an old woman who likes tin foil. The data that makes up the price of oil is all out there and freely available. Indeed, it's been posted in this thread several times. Back then the price briefly hit 140 but it had run up from 80 in a very quick time and then promptly crashed to the 60s. There were huge forward hedges in place that meant the amount paid was, in reality, much lower than the spot market.
Fast forward to today and the recent price spike wasn't hedged so refiners are paying full spot. At the same time the GBP was in March 2008 at a near all time high with £1 buying $2!!!! Today that £1 buys just $1.2. Add to that we now have quite a large cost for the eco element of E10 which adds around 10% to the cost and everyone can clearly see the reason for the difference.
In short, in March 2008 when oil was briefly at $140 that converted to an oil price in GBP of £70. Today, oil at $120 costs us £100.
Explain to your mate that we use a currency called the British Pound in the U.K. and that oil is priced in a currency called the US Dollar and then explain that the value of currencies against each other changes. Or send him some tin foil and then delete him from your records.
craig1912 said:
Megaflow said:
This got me curious so I googled some stuff, 14/06/2008 oil was $133 a barrel and the exchange rate was 1.944, so oil was £68.41 a barrel.
At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
I didn’t vote for Brexit but it isn’t anything to do with brexit!At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
We were at $1.70 in 2014 when the saga began and got as low as $1.23 on the result. We've bounced off that since but as of today we are back at the Brexit level of $1.23.
It's this weakness which is needing us to raise rates as the US raises rather than being able to lag 6-12 months or not have to at all. The more we let the GBP weaken against the USD the more inflation we import on USD prices commods, ie oil.
However, it's the French that are really to blame as it was the failure of Suez that led to London losing control of the oil market to the US.
Megaflow said:
This got me curious so I googled some stuff, 14/06/2008 oil was $133 a barrel and the exchange rate was 1.944, so oil was £68.41 a barrel.
At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
You have conveniently ignored that Sterling plummeted to $1.450 by end-2008 due to the financial crash. $1.944 was a short term peak.At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
Brexit vote knocked about $0.10 from Sterling which was already weak.
Great Depression and Adolf Hitler are the biggest culprits. Without their meddling, the Pound could/should/would be worth almost $5.00
Edited by bigothunter on Sunday 26th June 20:46
bigothunter said:
Megaflow said:
This got me curious so I googled some stuff, 14/06/2008 oil was $133 a barrel and the exchange rate was 1.944, so oil was £68.41 a barrel.
At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
You have conveniently ignored that Sterling plummeted to $1.450 by end-2008 due to the financial crash. $1.944 was a short term peak.At $119 a barrel at todays rates is 1.219 which makes the same barrel £97.62.
Congratulations to everybody who voted for Brexit.
Brexit vote knocked about $0.10 from Stirling's value.
m3jappa said:
All of this is valid yes but how many litres of actual fuel comes from a barrel of oil? is it hundreds of litres or is there lots of waste oil in the process?
Non of it is waste, but how much is petrol/diesel/jet fuel etc depends on the oil. Brent has a different make up to WTI, which has a different make up to Saudi or West African etc. A barrel is 187 liters of raw oil.
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