Petrol prices- when does the madness end?

Petrol prices- when does the madness end?

Author
Discussion

bigothunter

5,031 posts

40 months

98elise said:
Governments are also driven by the need to stay in power. Big fuel bills is not a vote winner.
Labour policy is to increase road fuel duty for environmental reasons.

Labour even suggested a Fuel Price Stabiliser where any reduction in retail prices would be balanced by permanently increased fuel duty. So pump prices would be 'stabilised' by staying the same or going up, never down. That suggestion proved unpopular and soon died.

More vote winning ideas from the left wing jokers hehe



alangla

3,598 posts

161 months

bigothunter said:
Labour policy is to increase road fuel duty for environmental reasons.
It may be their policy now, but did it not originally start under John Major?

DonkeyApple

45,277 posts

149 months

98elise said:
The spinner of plates said:
DonkeyApple said:
bigothunter said:
SidewaysSi said:
Esso 169.9 for E10 which doesn't seem terrible.
169.9p per litre is terrible, just not as terrible as before biglaugh

Traffic volumes have not reduced much even at elevated fuel prices. Wonder how far price could be pushed before traffic reduces significantly? £3 per litre perhaps?

Plenty of scope for more taxation on road fuel - the market is tolerant...
That's the risk. People have been frothing about how the evil corporates will keep fuel at £2 and then drive it ever upwards as they collude in the grand conspiracy against the poor downtrodden man. And they probably are still banging on about their tinfoil thickery despite watching prices step down and down as market forces and competition carries on working.

The true risk is that the last 6 months have created a completely new ONS dataset which will be used in transport and taxation policy calculations and decisions going forward by governments.

The last 6 months has shown that you could technically double fuel duty and very little would change. Raising fuel duty would be politically toxic which is why no one has risked it for years but there are plenty of other factors that this data will possibly work against us on such as the drive to EV, road pricing etc.

It's not the corporates that we should fear but what any future government will do on the back of the data.
Agreed.
Corporations are governed by the need to be competitive.
Government’s on the other hand… that’s the real elephant in the room on this one. They’ve been watching, reviewing data and thinking “interesting…”
Governments are also driven by the need to stay in power. Big fuel bills is not a vote winner.
Yes but what the latest data shows is that that issue is waning. There was once a time that road users would have protested over large and swift rises. This time they've just been happy to pay and haven't even bothered to slow down like previously.


DonkeyApple

45,277 posts

149 months

bigothunter said:
98elise said:
Governments are also driven by the need to stay in power. Big fuel bills is not a vote winner.
Labour policy is to increase road fuel duty for environmental reasons.

Labour even suggested a Fuel Price Stabiliser where any reduction in retail prices would be balanced by permanently increased fuel duty. So pump prices would be 'stabilised' by staying the same or going up, never down. That suggestion proved unpopular and soon died.

More vote winning ideas from the left wing jokers hehe
No one quite hates the poor as much as a poor person who's tasted taxpayer subsidised champagne. biggrin

Labour hasn't represented working class values nor protected the working class for over 25 years.

Bit like the fatcat Union leaders who haven't got their members a proper pay rise for 20 years despite taking all their subs and paying themselves nice salaries. It's like they've suddenly realised they need to something before they get busted.

bigothunter

5,031 posts

40 months

DonkeyApple said:
No one quite hates the poor as much as a poor person who's tasted taxpayer subsidised champagne. biggrin

Labour hasn't represented working class values nor protected the working class for over 25 years.

Bit like the fatcat Union leaders who haven't got their members a proper pay rise for 20 years despite taking all their subs and paying themselves nice salaries. It's like they've suddenly realised they need to something before they get busted.
Bob Crow was a legend. Living in a council house despite his £145k income without a pang of conscience (in 2013). Bob was brilliant on HIGNFY. Great shame he died at just 52 frown

DonkeyApple

45,277 posts

149 months

bigothunter said:
Bob Crow was a legend. Living in a council house despite his £145k income without a pang of conscience (in 2013). Bob was brilliant on HIGNFY. Great shame he died at just 52 frown
His best quality was that he was genuinely more intelligent than the bulk of his opposition. Just a shame he took a home from a family that needed it and achieved little for his subscribers.

It'll be interesting to see if the current incarnation can create the Momentum revolution and seize all the money and power this time around. biggrin

Mr Spoon

1,977 posts

18 months

DonkeyApple said:
Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
Explain how. Please give, clear, well thought out reasoning as to how this will work and who will be doing it.

Please also bear in mind that within the next 40 years the cheapest oil to extract on the planet will have been exhausted and so there won't be the $10 supply to keep the average market price anywhere near $100. But in the U.K. we will actually be one of the few countries to be OK as we will have accidentally transitioned mostly to EVs by then on the back of some silly eco drive.
If you can't work this out from my post, then I'm afraid Mr donkey apple, you aren't all that clever.



Roman Rhodes

4,153 posts

69 months

Saturday
quotequote all
Mr Spoon said:
DonkeyApple said:
Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
Explain how. Please give, clear, well thought out reasoning as to how this will work and who will be doing it.

Please also bear in mind that within the next 40 years the cheapest oil to extract on the planet will have been exhausted and so there won't be the $10 supply to keep the average market price anywhere near $100. But in the U.K. we will actually be one of the few countries to be OK as we will have accidentally transitioned mostly to EVs by then on the back of some silly eco drive.
If you can't work this out from my post, then I'm afraid Mr donkey apple, you aren't all that clever.
Just because you say the same thing “many times” doesn’t make it correct. The only person you’ve convinced is yourself.

Mr Spoon

1,977 posts

18 months

Saturday
quotequote all
Roman Rhodes said:
Mr Spoon said:
DonkeyApple said:
Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
Explain how. Please give, clear, well thought out reasoning as to how this will work and who will be doing it.

Please also bear in mind that within the next 40 years the cheapest oil to extract on the planet will have been exhausted and so there won't be the $10 supply to keep the average market price anywhere near $100. But in the U.K. we will actually be one of the few countries to be OK as we will have accidentally transitioned mostly to EVs by then on the back of some silly eco drive.
If you can't work this out from my post, then I'm afraid Mr donkey apple, you aren't all that clever.
Just because you say the same thing “many times” doesn’t make it correct. The only person you’ve convinced is yourself.[/quote

touche. ]

ingenieur

1,775 posts

161 months

Yesterday (09:10)
quotequote all
In to the 1.50s now...!

159.1 for unleaded at my local

Antony Moxey

6,743 posts

199 months

Yesterday (09:16)
quotequote all
Not quite reached Cornwall yet. Here on holiday at the moment and nowhere this week (we’re touring the north coast) have I seen anywhere advertising unleaded for less than high £1.80s or diesel for low to mid £1.90s.

Fortunately I filled up (at high £1.80s for diesel) before I left last weekend anticipating the Cornish being behind the times.

Fusion777

813 posts

28 months

Yesterday (09:19)
quotequote all
Oil prices are so bizarre. WTI is now $89, was over $120 in June. What's changed? Is demand really much lower two months later, or is more just coming on stream? Perhaps much of it has been driven by speculation?

I'm not complaining...

cuprabob

11,494 posts

194 months

Yesterday (09:23)
quotequote all
Fusion777 said:
Oil prices are so bizarre. WTI is now $89, was over $120 in June. What's changed? Is demand really much lower two months later, or is more just coming on stream? Perhaps much of it has been driven by speculation?

I'm not complaining...
I think a lot of it is traders speculating and the price is falling due to the anticipated drop in demand due to the forthcoming recession.

Smint

784 posts

15 months

Yesterday (09:37)
quotequote all
cuprabob said:
I think a lot of it is traders speculating and the price is falling due to the anticipated drop in demand due to the forthcoming recession.
Its not just the forthcoming recession at work here, though agree we're rushing headlong into serious trouble economically thanks partly to politicians throwing fake money around like confetti.

I and many others are doing all they can not to pay through the nose for everything, we've cut right back on all non essential motoring until such time as fuel prices go back to more sensible levels, not playing end of.
This includes food shopping etc where staple foods from the likes of Lidl are considerable cheaper than the same items from the main supermarkets, maybe i'm wrong, often am, but i get the feeling out and about that people are getting ever more fed up of being ripped off and doing whatever they can not to feed the monster.

swamp

896 posts

169 months

Yesterday (09:47)
quotequote all
Fusion777 said:
Oil prices are so bizarre. WTI is now $89, was over $120 in June. What's changed? Is demand really much lower two months later, or is more just coming on stream? Perhaps much of it has been driven by speculation?

I'm not complaining...
Interest rates have risen, especially in the US. This will increase the cost of borrowing and put a downward pressure on the economy and so reduce future demand for oil.

There is also a desire amongst western governments to see oil prices reduce even further, to stop Putin from financing his war in Ukraine (Russian oil is very expensive to produce). Some people are predicting $60 a barrel by December, which would be great news for drivers.

ingenieur

1,775 posts

161 months

Yesterday (10:05)
quotequote all
Smint said:
cuprabob said:
I think a lot of it is traders speculating and the price is falling due to the anticipated drop in demand due to the forthcoming recession.
Its not just the forthcoming recession at work here, though agree we're rushing headlong into serious trouble economically thanks partly to politicians throwing fake money around like confetti.

I and many others are doing all they can not to pay through the nose for everything, we've cut right back on all non essential motoring until such time as fuel prices go back to more sensible levels, not playing end of.
This includes food shopping etc where staple foods from the likes of Lidl are considerable cheaper than the same items from the main supermarkets, maybe i'm wrong, often am, but i get the feeling out and about that people are getting ever more fed up of being ripped off and doing whatever they can not to feed the monster.
Part of the problem is the subscription life we have now. Things which just didn't used to cost anything are suddenly part of monthly bills, all areas of live have become monetised. And maybe computerisation is to blame but it seems the idea of saving money is now a thing of the past as they've found a way to applying costs to everything you do, I'm assuming through analysis of data. Costs for just existing like council tax and car insurance. The bloody mortgage as well.. I think ours is relatively small compared to what some are paying but it would have been a big mortgage 20 years ago.

time waster

584 posts

221 months

Yesterday (10:34)
quotequote all
swamp said:
Fusion777 said:
Oil prices are so bizarre. WTI is now $89, was over $120 in June. What's changed? Is demand really much lower two months later, or is more just coming on stream? Perhaps much of it has been driven by speculation?

I'm not complaining...
Interest rates have risen, especially in the US. This will increase the cost of borrowing and put a downward pressure on the economy and so reduce future demand for oil.

There is also a desire amongst western governments to see oil prices reduce even further, to stop Putin from financing his war in Ukraine (Russian oil is very expensive to produce). Some people are predicting $60 a barrel by December, which would be great news for drivers.
The energy companies make super profits, as it costs them the same to extract. Hence recent profits from shell bp etc

bigothunter

5,031 posts

40 months

Yesterday (10:53)
quotequote all
Smint said:
I and many others are doing all they can not to pay through the nose for everything, we've cut right back on all non essential motoring until such time as fuel prices go back to more sensible levels, not playing end of.
This includes food shopping etc where staple foods from the likes of Lidl are considerable cheaper than the same items from the main supermarkets, maybe i'm wrong, often am, but i get the feeling out and about that people are getting ever more fed up of being ripped off and doing whatever they can not to feed the monster.
Tensions are building and will be amplified as cold weather approaches. Not just petrol prices but exorbitant costs across the board. Something has to give.

Historically such times have led to social unrest and political upheaval. General strikes, street rioting, far left socialist government - anything is possible. Can't imagine Liz or Rishi being up to the challenge...

Mirinjawbro

324 posts

44 months

Yesterday (11:03)
quotequote all
smash this country to the ground.

what it deserves.

greed, lies, filth, corruption.

that's the world these days, and its only going to get worse

ingenieur

1,775 posts

161 months

Yesterday (11:15)
quotequote all
Mirinjawbro said:
smash this country to the ground.

what it deserves.

greed, lies, filth, corruption.

that's the world these days, and its only going to get worse
That's what's known as "declinism"

"the tendency to see the past in an overly positive light and to view the present or future in an overly negative light"