Petrol prices- when does the madness end?

Petrol prices- when does the madness end?

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Discussion

DonkeyApple

45,277 posts

149 months

Tuesday 2nd August
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The Hypno-Toad said:
DonkeyApple said:
wiliferus said:
Following Shells record profits. No profiteering here… nothing to see…

https://www.bbc.co.uk/news/business-62382624
It's interesting how the BBC are attempting to link the profits of BP from extraction somehow to the cost of a household utility bill.

What's your opinion as to why the journalist would be seeking to link two different things that they know aren't connected because they went to university and are educated?
I don't know why anyone would be remotely surprised that the oil companies are making massive profits. COVID wasn't anything to do with them, so why should they take a massive hit in profits? Getting some it back in the UK was easy; manufacturer a completely artificial fuel panic, rely on the British public not to question when its over why the fuel price at the pumps hasn't dropped down to where it was before the panic and then use a war to push the price up yet again.

Just like the Governments, they have to get their money back from somewhere and the UK is one of the easiest places to get it from.
I agree. The real failure of all governments was that during Covid they let the oil producers wear all the losses, which is absolutely fine but it meant they logically shut expensive wells and halted exploration. We knew at the time that the closing of wells would trigger a supply squeeze when we finally exited Covid and as such it was a failure of all such governments to not prevent that, of necessary by paying to keep those wells on standby not mothballed. In reality, the current oil price is a function of government oversight.

craig1912

2,580 posts

92 months

Tuesday 2nd August
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bigothunter said:
I'm intrigued. Which other company develops and supplies JCB's hydrogen (and diesel) engines? scratchchin
You’d think it would be well known if that was the case, wouldn’t you? Every piece I’ve read state the engine is based on JCBs existing diesel max 448 engine with a modified top end, all developed and built in JCBs engine factory in Derbyshire

Vipers

30,584 posts

208 months

Tuesday 2nd August
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Thought I was onto a winner today, logged into petrolmaps.co.uk and this came up, thought wow, and updated today, had a look on google maps looks like it shut a few years ago frown

Location is AB15 7SE


Jawls

402 posts

31 months

Tuesday 2nd August
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sideshowfred said:
Jawls said:
I’m not so convinced by the popular wisdom there, at least for anything around Birmingham. You have more than one pipe connection into the Kingsbury area and also a pipe to Esso Birmingham. At wholesale level, midlands traditionally a dumping ground with extremely aggressive price competition due to ease of getting molecules there. Leads to refiners sacrificing margins.

Of course, if we are talking miles and miles south of Brum, different issues may apply. But you’ve got Northampton, Hemel etc competing for that kind of envelope inland.


Edited by Jawls on Tuesday 2nd August 10:30


Edited by Jawls on Tuesday 2nd August 10:42
Might be reading your post the wrong way so forgive me if I am but are you saying prices should be more competitive around that area?

I'm in Northampton and most garages are around the £1.93/£1.94 mark for diesel including Wellingborough, and anything around that area. I've only seen one station selling diesel under £1.90 which was in Buckinghamshire, including on a trip to the Cotswolds a few weeks ago. Problem is you have to pay it, unable to work from home but it's almost doubled my commuting costs.
I’m saying that proximity to a refinery isn’t the only factor in terms of the small wholesale cost differentials, since there are a bunch of regional competitive factors. In the case of the Midlands (and Northampton is sort of the the southern end of the Midlands envelope) multiple companies have easy and relatively cheap mechanisms of getting large amounts of product there, and they want to get returns to their fixed costs (terminal costs, share of pipe costs if a JV etc). This would, holding all other factors constant, push prices lower.

But some major caveats.

1. Wholesale pricing differentials are small. Refiners will measure margins in dollars per tonne. It’s a volume game. So you ain’t gonna see huge differentials at retail level purely due to this; even if you live arse end of nowhere miles from any terminal

2. Retail pricing will be much more influenced by local competitive factors. Eg. If there are lots of sites near each other. Or how good the store is (and so how much convenience store margin you might get etc). Or the need to generate cashflow short term etc. Years since I’ve been in central Northampton so I can’t comment there.

None of this is something I fret about. I generally fill up at the station closest to my house. The price is the price.


Edited by Jawls on Tuesday 2nd August 21:43

Pica-Pica

10,644 posts

64 months

Tuesday 2nd August
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Shell B7 diesel was £1.859 a litre at Caeathro (Caernarfon) today. Thought I had better have £93 worth.

ChocolateFrog

17,439 posts

153 months

Tuesday 2nd August
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Filled up a couple of days ago at 1.77.9 for Unleaded,
psychologically it felt good getting back into the 170's, which is a disturbing thought in itself.

Weirdly the Esso, which is 100m from the A1 was cheaper than the Morrisons and Tesco local to us.

bigothunter

5,031 posts

40 months

Wednesday 3rd August
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In the last 3 days, my expenditure on petrol and diesel was £520 irked

Mr Spoon

1,977 posts

18 months

Wednesday 3rd August
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bigothunter said:
In the last 3 days, my expenditure on petrol and diesel was £520 irked
Not a powerfully built director that sts money continuously then?

bigothunter

5,031 posts

40 months

Wednesday 3rd August
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Mr Spoon said:
bigothunter said:
In the last 3 days, my expenditure on petrol and diesel was £520 irked
Not a powerfully built director that sts money continuously then?
No, actually a retired old fart who has started to feel the financial pinch...

Vipers

30,584 posts

208 months

Wednesday 3rd August
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ChocolateFrog said:
Filled up a couple of days ago at 1.77.9 for Unleaded.
Today local Sainsburys 1.709, in old money that’s a difference of about 6 bob a gallon.

ARHarh

2,150 posts

87 months

Wednesday 3rd August
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taken from my pertol prices email. For unleaded


RazerSauber

1,536 posts

40 months

Wednesday 3rd August
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Link

Another price fall after a rise earlier this week. Slowly coming in the right direction, long may it last.

Drezza

1,225 posts

34 months

Thursday
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Diesel has just dropped 9p from 195.9p to 186p overnight at my local Tesco

Fusion777

813 posts

28 months

Thursday
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A Shell near me dropped from 197.9 to 192.9p for diesel yesterday. Still expensive going by some of the posts in here, but going the right way for a change.

Philvrs

226 posts

77 months

Thursday
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Price still falling at costco, E10 now £1.59. First ive seen dip under £1.60.

popegregory

1,211 posts

114 months

Thursday
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On holiday in lynmouth and seen diesel at 178.9, are we headed back towards six months ago

Fusion777

813 posts

28 months

Thursday
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184.9p for diesel at another local garage. Healthy drops, but can still only dream of sub-180p like some are seeing.

matt21

4,084 posts

184 months

Thursday
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My local Costco is now 159.7p for petrol and 169.9 for premium diesel. Almost feels acceptable

jrinns

312 posts

163 months

Thursday
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Leicester Costco £1.60 Cheap 167 premium and 172 for diesel this morning .

matt21

4,084 posts

184 months

Thursday
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It’s come down again