Petrol prices- when does the madness end?
Discussion
alangla said:
JmatthewB said:
£1.79 for V-Power at Styal near me.
I paid £1.90 for it at the weekend. That was at a Shell owned site next to the M80 but not an official motorway services. Was about a 15p difference vs E10 from what I remember.alangla said:
https://www.bbc.co.uk/news/uk-scotland-tayside-cen...
Oh brilliant. Panic buying in 5,4,3….
It would probably help if Ineos could at least put out a statement saying something like “all deliveries to petrol stations are operating as normal”
To be fair after the first media induced "shortage" people have been far more pragmatic about reported supply issues, even genuine ones.Oh brilliant. Panic buying in 5,4,3….
It would probably help if Ineos could at least put out a statement saying something like “all deliveries to petrol stations are operating as normal”
It's been said on here for weeks that supermarkets are slower than other retailers to lower prices on fuel. Looks like some extra pressure is finally being applied.
https://www.bbc.co.uk/news/business-62494404
https://www.bbc.co.uk/news/business-62494404
WilsonWilson said:
It's been said on here for weeks that supermarkets are slower than other retailers to lower prices on fuel. Looks like some extra pressure is finally being applied.
https://www.bbc.co.uk/news/business-62494404
I definitely believe they’re not lowering prices as much as I could- before prices went crazy there was always about 5p a litre difference in the price of standard unleaded between my nearest Costco and my nearest Asda… it’s currently about 17p with Costco selling it at 157.9- interestingly if you apply the traditional 5p difference you get to 163, which is basically the price the RAC are suggesting supermarket fuel should be.https://www.bbc.co.uk/news/business-62494404
I think a few people on here have linked the sale of Asda by Walmart to EG Group to the fact supermarket prices are being slower to come down. Walmart always used to drive the prices down to get people into the store, but when the parent company predominantly runs petrol stations they’re going to prefer to keep the price high…
DonkeyApple said:
Not sure why the RAC spokesman is referencing a 10p retailer mark-up. That hasn't been the base reference figure for a couple of decades and given that every single retailer cost has increased it most certainly won't be now!
If the markup is less than 10p then the price would have been less that the 1.60 odd quoted. That was giving them a very generous margin covering any increase in running costs. 98elise said:
alangla said:
https://www.bbc.co.uk/news/uk-scotland-tayside-cen...
Oh brilliant. Panic buying in 5,4,3….
It would probably help if Ineos could at least put out a statement saying something like “all deliveries to petrol stations are operating as normal”
To be fair after the first media induced "shortage" people have been far more pragmatic about reported supply issues, even genuine ones.Oh brilliant. Panic buying in 5,4,3….
It would probably help if Ineos could at least put out a statement saying something like “all deliveries to petrol stations are operating as normal”
Dog Star said:
alangla said:
I paid £1.90 for it at the weekend. That was at a Shell owned site next to the M80 but not an official motorway services. Was about a 15p difference vs E10 from what I remember.
For a Skoda VRS? Why?
WilsonWilson said:
It's been said on here for weeks that supermarkets are slower than other retailers to lower prices on fuel. Looks like some extra pressure is finally being applied.
https://www.bbc.co.uk/news/business-62494404
My local garages are £1.73. The local Sainsburys (Hempstead Valley) was recently reported to be the cheapest in the area, and yesterday I went to Asda (Bluebell Hill) and it's £1.66.https://www.bbc.co.uk/news/business-62494404
Supermarkets aren't under any obligation to be the cheapest. They do it for commercial reasons, and that hasn't changed.
hotchy said:
DonkeyApple said:
Not sure why the RAC spokesman is referencing a 10p retailer mark-up. That hasn't been the base reference figure for a couple of decades and given that every single retailer cost has increased it most certainly won't be now!
If the markup is less than 10p then the price would have been less that the 1.60 odd quoted. That was giving them a very generous margin covering any increase in running costs. 'Meanwhile the average for the delivered wholesale petrol price last week was £1.24, while diesel was £1.38.
After factoring in VAT, fuel duty and a "generous" retailer margin of 10p per litre, the RAC said "forecourts should soon be selling unleaded for no more than £1.62".
(124p+10p)x1.2= 161
The week before the wholesale was 132p and 10p retailer markup isn't generous but out of date.
98elise said:
WilsonWilson said:
It's been said on here for weeks that supermarkets are slower than other retailers to lower prices on fuel. Looks like some extra pressure is finally being applied.
https://www.bbc.co.uk/news/business-62494404
My local garages are £1.73. The local Sainsburys (Hempstead Valley) was recently reported to be the cheapest in the area, and yesterday I went to Asda (Bluebell Hill) and it's £1.66.https://www.bbc.co.uk/news/business-62494404
Supermarkets aren't under any obligation to be the cheapest. They do it for commercial reasons, and that hasn't changed.
Our local Tescos say they aim to be cheapest among the local petrol stations. They are a mile outside of the local town where petrol prices are 173.9ppl, so they simply match that.
2 miles down the carriageway from them theres a huge petrol station selling at 163.9ppl.
Five miles the other direction in the next nearest town ASDA are 163.9ppl, as are most of the local stations there.
They're clearly feeling no compulsion to drop their prices and are quite happy to stiff their local customers.
If thats happening at petrol station level, then its hardly a giant leap to think its happening at regional and national levels among fuel suppliers, borne out by the frankly ridiculous profits being seen.
DonkeyApple said:
Not sure why the RAC spokesman is referencing a 10p retailer mark-up. That hasn't been the base reference figure for a couple of decades and given that every single retailer cost has increased it most certainly won't be now!
Not sure why the BBC are referencing duff RAC information in the first place.Fuel retailers were making nothing like 10ppl margin 20 years ago.
Deep Thought said:
98elise said:
WilsonWilson said:
It's been said on here for weeks that supermarkets are slower than other retailers to lower prices on fuel. Looks like some extra pressure is finally being applied.
https://www.bbc.co.uk/news/business-62494404
My local garages are £1.73. The local Sainsburys (Hempstead Valley) was recently reported to be the cheapest in the area, and yesterday I went to Asda (Bluebell Hill) and it's £1.66.https://www.bbc.co.uk/news/business-62494404
Supermarkets aren't under any obligation to be the cheapest. They do it for commercial reasons, and that hasn't changed.
Our local Tescos say they aim to be cheapest among the local petrol stations. They are a mile outside of the local town where petrol prices are 173.9ppl, so they simply match that.
2 miles down the carriageway from them theres a huge petrol station selling at 163.9ppl.
Five miles the other direction in the next nearest town ASDA are 163.9ppl, as are most of the local stations there.
They're clearly feeling no compulsion to drop their prices and are quite happy to stiff their local customers.
If thats happening at petrol station level, then its hardly a giant leap to think its happening at regional and national levels among fuel suppliers, borne out by the frankly ridiculous profits being seen.
They offer a product at a price and you choose to buy or not. The wholesale prices are known so how much should they be making on a litre?
I've just filled up at my local morrisons and petrol is £1.60. Yesterday it was £1.62 according to the petrol price app so its still dropping in my area.
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