Petrol Prices - how bad will it get this year ?
Discussion
The highest is 133.9 for super near me, can anyone top that I wonder
http://www.petrolprices.com/search.html?search=w4
http://www.petrolprices.com/search.html?search=w4
Bursar said:
Tax is due to increase at the start of April, so I'd expect about £1.20 by then. By the end of the year I would guesstimate about £1.40/litre
The thing is we just don't know. Last time it was up at about £1.20-£1.30 a litre and i remember 'Experts' saying they couldn't imagine prices going down, but they did.It depends on so many factors that it's impossible to predict.
As an example I once got talking to a very senior person in the company I work for (A large multinational petrochemical company). At the time the high oil price was killing us and I asked him what he thought would happen to the price over the course of the year. His response was, "we pay people millions to predict these things and we still have no idea". If these guys don't know, what chance do we have.
In short, what's going to happen is going to happen. No new government will change that, despite talk of oil in the South Atlantic. The reality is, that unless you do mega miles or drive a Hummer, the price of petrol isn't that significant in the big scheme of things and a 20p per litre increase if you 12,000 miles a year and average 25mpg only works out at £35 a month. If you do more miles and are getting less than 25mpg then you drive a crazy car and could probably afford it if fule was £5 a litre.
Devil2575 said:
In short, what's going to happen is going to happen. No new government will change that, despite talk of oil in the South Atlantic. The reality is, that unless you do mega miles or drive a Hummer, the price of petrol isn't that significant in the big scheme of things and a 20p per litre increase if you 12,000 miles a year and average 25mpg only works out at £35 a month. If you do more miles and are getting less than 25mpg then you drive a crazy car and could probably afford it if fule was £5 a litre.
The problem with petrol prices (for individuals) is largely psychological. Yes there are a few people whose lives will be significantly affected by having to spend an extra £35 a month on fuel (and of course most cars average much more than 25mpg), but they must be in a tiny minority. Its effect on businesses is harder to quantify, I think.
Edited by kambites on Thursday 11th March 14:41
I think it's up 25% already in less than a year. Local petrol station on streetview showing 89.9, now 112.9, and I'm sure the pics were taken last spring.
Where will it end? Who knows, but right now I'm glad to have offloaded my 4.6 Rangie last week.
Edit: Christ! up another 2p to 114.9 in half a day.
Where will it end? Who knows, but right now I'm glad to have offloaded my 4.6 Rangie last week.
Edit: Christ! up another 2p to 114.9 in half a day.
Edited by richardxjr on Thursday 11th March 18:36
musclecarmad said:
ShadownINja said:
I'd like to see how the $140/barrel rate when adjusted for the then gbp/usd rate is compared to today's $80/barrel rate. I'm sure it's just basic maths but I'm too lazy.
it's roughly 1p for every $2 isn't it? that is a VERY rough guess/rule of thumb!musclecarmad said:
ShadownINja said:
musclecarmad said:
ShadownINja said:
I'd like to see how the $140/barrel rate when adjusted for the then gbp/usd rate is compared to today's $80/barrel rate. I'm sure it's just basic maths but I'm too lazy.
it's roughly 1p for every $2 isn't it? that is a VERY rough guess/rule of thumb!if oil was $147 today as it was a year or two ago then petrol would be MUCH more than it was at the last peak due to weaker pound and the vat that's been added on and the increased duty
musclecarmad said:
Tallbut Buxomly said:
The higher the better methinks as my petrol costs are paid by the company!!!!
This would mean that most big engined high fuel use cars will drop in price and be much easier to afford as a weekend toy.
yeah, sadly I too want petrol prices to go sky high as it will affect other people more than it will me so that will mean less traffic on the roads and cars becoming cheaper and so on.This would mean that most big engined high fuel use cars will drop in price and be much easier to afford as a weekend toy.
i traded from a 30mpg car to a 60mpg car so it can double before i'd even be at a level I was a year or two ago. It'd have to treble before i'd even think about petrol costs and probably quadruple before i'd start thinking seriously about the costs.
Tallbut Buxomly said:
musclecarmad said:
Tallbut Buxomly said:
The higher the better methinks as my petrol costs are paid by the company!!!!
This would mean that most big engined high fuel use cars will drop in price and be much easier to afford as a weekend toy.
yeah, sadly I too want petrol prices to go sky high as it will affect other people more than it will me so that will mean less traffic on the roads and cars becoming cheaper and so on.This would mean that most big engined high fuel use cars will drop in price and be much easier to afford as a weekend toy.
i traded from a 30mpg car to a 60mpg car so it can double before i'd even be at a level I was a year or two ago. It'd have to treble before i'd even think about petrol costs and probably quadruple before i'd start thinking seriously about the costs.
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