Fuel Price on the up

[Dodsy]

Fuel prices have risen slightly at our local tesco - is this the sign of things to come ? Ok its only gone up 1p/Litre from 106.9 to 107.9 for unleaded but experience tells me we can probably expect things to start to creep upwards now.

Has anyone else noticed increases ?

[scotty_d]

I hope so, fingers crossed....

[Mound Dawg]

scotty_d said:

I hope so, fingers crossed....

You work for Greenpeace?

[Funk]

Unless there's a valid reason (ie. oil goes up) then I can't imagine it being looked on favourably by the public

[MartinQ]

Still 103.9 around here.

[va1o]

Diesel has been creeping up arround here, dipped to 112.9 and it's now up a couple of pence this month

[rossub]

The oil price has gone up. It was as low as 48, but now it's 61.

[RosscoPCole]

Our local Esso had two 1p increases this week. It is almost as if they think if the price increases 1p at a time no one will notice.

[rigga]

RosscoPCole said:

Our local Esso had two 1p increases this week. It is almost as if they think if the price increases 1p at a time no one will notice.

It worked well for them before.

[J4CKO]

Yeah, back to normal by the end of this year I reckon.

[Greengecko]

J4CKO said:

Yeah, back to normal by the end of this year I reckon.

It shouldn't go much above $75 a barrel, at least for the next 2 years.

Data from the US showed the largest oil inventory since the 80's last month. As the US stops drilling, as it is not worth it financially and these inventories are used up, the price per barrel will increase.

However, there has been a massive amount of investment in US Shale drilling, especially from smaller firms. These drills can be put back online within a number of days, as they become economically viable at around $75 a barrel.

Therefore, unless we see a huge new demand from Europe or China in the next 2 years, I can't see petrol going back above £1.20/litre.

[scotty_d]

Mound Dawg said:

scotty_d said:

I hope so, fingers crossed....

You work for Greenpeace?

Ha ha the opposition, oil and gas are my main industry and it is rocky times for my company just now!

[MG CHRIS]

Staying the same around 1.05 around blackwood south wales been like that for a while now.

[Turn7]

Prives vary daily round here...lowest was 102, currently 107 and local Esso went up from 106 to 108 overnight....

[Matt UK]

Holding steady at 107.9

[Turn7]

Im convinced petrol stations prices relate to how much fuel in stock and whn next delivery is due, prices can and do change daily round here.

[mybrainhurts]

BP, Sheffield, up 1p

[mp3manager]

[Triumph Man]

I hope we see £1.50 a litre for unleaded soon to price those irritating poor people off the road so there's more room for us eh chaps? What ho!

[MissChief]

Up to 108.9 here. Only a penny but it's never been the cheapest round here anyway.