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Petrol - up 5p a litre at the weekend?

gavan

Well-known Member
http://news.bbc.co.uk/1/hi/business/7409166.stm

The Petrol Retailers Association says that average prices could go up as much as 5 pence a litre by the weekend.

"I expect that motorists and diesel users in particular are going to pay more at the pumps in the coming weeks, possibly as soon as the bank holiday, from where they are now," said Ray Holloway, director of the Petrol Retailers Association.

"The simple reason is that the wholesale price of oil sent diesel up 3 pence last week and there's more to come."



OK, diesel costs more because of a refining capacity issue but I don't see why the gap between it and petrol should increase with oil price. Sounds like profiteering to me.

Even worse news for oil burners is that apparently there is soon supposed to be a change to ULSD (same as road diesel) from the current high sulphur diesel for marine use which will put even more upward pressure on diesel prices.
 

JamesCTR

Active Member
Bloody nora, as if we dont pay enough anyway ! ***
 

pcookie

Active Member
A little bird working for Eddie Stobbart told me that petrol could rise to £1.50 a litre by the end of June/July!

cookie
 

eric pisch

Distinguished Member
One of the problems is that investment funds are buying oil like crazy since property has gone down the toilet

and yep expect £1.50 ppl
 

DVD-Man

Distinguished Member
Seen £1.30L for diesel today, southwest Scotland!

109.9 for UL though.

Liam
 

gibbsy

Moderator
Since Sunday locally prices are up:
Tesco 3p on UL and Derv
Esso 2p on both
Texaco 3p on both
Cheapest in my neck of the woods is now UL £113.9 and Diesel £124.9

Guess who's just bought a new Volvo V50 Diesel?:oops:
Got to take the pain of running in the engine as well as the high prices.

An Algerian OPEC spokesman said he fully expected prices to hit $200 a barrel by the end of July.
 

stevefish69

Well-known Member
OMG will it ever stop - It seems to be going up by a couple of pence every time i fill up :mad:

Although the price of oil has a direct reflection at the pump price, don't forget that the the fuel Tax and VAT added is a % of the pump price.

In the region of 81.5% :eek: if this website is correct.

That means the government have been making bucket loads in the last 3 months or so since it's gone through the roof.

The knock on effect this will have in the shops due to increased haulage costs doesn't bear thinking about :suicide:
 

IronGiant

Moderator
Before I ring up my local LPG converter can anyone give me a ball park figure?

It's a 2.5 V6 in a Kia Sedona.

Dave
 

FMC

Active Member
Its already at 130p/litre for diesel in the Scottish Borders and Edinburgh isn't much of that now aswell.Glad I've got a company car!!!.

On a side note I hit a new record for me last week.It cost £71 to fill my Zafira with 52 litres of diesel.

Anyone else remember those good old days of paying £40 to fill a 60 litre tank:rolleyes:
 

bigjb

Distinguished Member
Before I ring up my local LPG converter can anyone give me a ball park figure?

It's a 2.5 V6 in a Kia Sedona.

Dave



There is a website which gives a guide to prices but the name escapes me at the moment.I did enquire a couple of years back about converting the volvo i had at the time and it was going to cost around £1000.
 

IAN P

Distinguished Member
I think i know what the scum will start thieving next,yep,petrol out of our bloody tanks,it's a knocking bet i tell ya':thumbsdow
 

IronGiant

Moderator
There is a website which gives a guide to prices but the name escapes me at the moment.I did enquire a couple of years back about converting the volvo i had at the time and it was going to cost around £1000.

Thanks, I had an idea it was about that much.

Dave
 

RMCF

Distinguished Member
The thing that I find strange about all this is the Gov's reaction.

They don't seem to mind that so many people are struggling as fuel costs rise, be it me or you or pensioners come next winter or haulage companies or whoever.

They are trying to fend off a recession, but if fuel continues to rise at the rate its going then many of us will stop spending money foolishly and only spend on the essentials, and this can only start a full blown recession.

Surely they need to have a look at reducing their taxes on fuel soon.

Or perhaps its time that the public took a stand. This dramatic increase just isn't affordable to the public or industry.
 

gavan

Well-known Member
The thing that I find strange about all this is the Gov's reaction.

They don't seem to mind that so many people are struggling as fuel costs rise, be it me or you or pensioners come next winter or haulage companies or whoever.

They are trying to fend off a recession, but if fuel continues to rise at the rate its going then many of us will stop spending money foolishly and only spend on the essentials, and this can only start a full blown recession.

Surely they need to have a look at reducing their taxes on fuel soon.

Or perhaps its time that the public took a stand. This dramatic increase just isn't affordable to the public or industry.


There's nothing strange about it - they are making a massive amount of cash from tax, as a result of the price rises.

Don't expect them to do anything about bringing prices down. Their two options are higher interest rates to boost the value of the pound (not going to happen because they want rates low to try to shore up the housing market and stimulate the economy) or to lower fuel taxes (ha ha ha, yeah right:rotfl: :rotfl:)
 

RMCF

Distinguished Member
I have been watching the petrol rises where I live in Ireland and it has increased twice per week for the last month.

This just isn't sustainable.
 

gavan

Well-known Member
I have been watching the petrol rises where I live in Ireland and it has increased twice per week for the last month.

This just isn't sustainable.

You could say the same thing about the house price bubble but it went on for years before it popped.

It's the same thing stoking the rampant price rises in fuel and food that powered the rapid house price rises - inflation in the monetary system meaning that investors pile into a sector that is showing demand and pump up a huge bubble, which attracts even more investment and so on.


As long as people keep consuming oil and there's excess money sloshing around the system to invest in these commodities, these prices very much can continue to keep rising.

As soon as consumption drops off due to demand being curbed we should see a collapse in prices. But that could be some time off and it will probably take a recession to really prick the bubble.


And until inflation is tackled, we will just see these sorts of crazy price increases occur for something else that's in demand, after the oil/food bubble bursts.
 

eric pisch

Distinguished Member
The thing that I find strange about all this is the Gov's reaction.

They don't seem to mind that so many people are struggling as fuel costs rise, be it me or you or pensioners come next winter or haulage companies or whoever.

They are trying to fend off a recession, but if fuel continues to rise at the rate its going then many of us will stop spending money foolishly and only spend on the essentials, and this can only start a full blown recession.

Surely they need to have a look at reducing their taxes on fuel soon.

Or perhaps its time that the public took a stand. This dramatic increase just isn't affordable to the public or industry.

They love the oil prices hikes

The tax wasters love it, 80% of all the increase comes back to them as tax :smashin:

The ecomental policys makers in the government love it as it will force huge amounts of people out of there cars (the poorest again, this labour government really loves to kick the poor squarely in the nadgers when there down) and it will force everyone else to downsize so they can claim kudos for reducing the UKs CO2. So its WIN WIN WIN for them, lots of taxes and they can claim there transport/environmental policies are working.

The fact its screwing over millions of the poorest families in the country seams to be of no concern to them. Mrs Thatcher must have a tear in here eye as they are crushing the poor in ways she couldn't have dreamed of.
 

eric pisch

Distinguished Member
I think i know what the scum will start thieving next,yep,petrol out of our bloody tanks,it's a knocking bet i tell ya':thumbsdow

Bilkin is already at record highs, thanks to the governments policy of leniency on drivers with no license or insurance. "yeah give me more points and crush my car , i only paid £50 for it and tank of petrol costs £70"

When a tank of fuel costs £100 there is a real possibility of this. I remember as a young kid or the fuel theft that went on during the opec strike.
 

jenic

Well-known Member
2.4 volvo v70

£1500 to convert to gas including first service and a 2 year (i think) warranty at a little place in huddersfield.

My uncles car, he used to get just below 30mpg on petrol, now he gets about 65 mpg on petrol prices worth of gas.
 

gus607

Active Member
The Petrol Retailers Association says that average prices could go up as much as 5 pence a litre by the weekend.

Course it will, it's a bank holiday !! Always the same.
 

Dom996

Active Member
Well this is all excellent news as I commute around 85 miles a day, paid from my own pocket.

I can't wait to go bankrupt. :rotfl:
 

RidleyDeckard

Well-known Member
My wife's in the same boat, she does a 130 mile round trip every day, thankfully she's leaving there at the end of next month.

However I've just had a look on Wiki (http://en.wikipedia.org/wiki/Gasoline_usage_and_pricing#Average_gasoline_prices_around_the_world) at petrol prices around the world and we are the 8th most expensive place in the world for petrol (as of last month) but with the prices hikes over the last couple of months we could be at number 2 or 3.

At this rate I'd almost consider moving back to Saudi Arabia, where it's only £0.06 a litre!!!

The whole situation is getting out of control and what I didn't realise is that not only do we pay duty on the fuel, but we also pay VAT on it as well.

I can't believe the haulage companies aren't making a fuss about this like they did back in 2000, surely it has to be hitting them the hardest.
 

Epicurus

Well-known Member
You know what's really scary?

At the moment wholesale prices are going up faster than pump prices, which I expect most of you will struggle to believe.

We are paying 127.8p per litre right now for diesel, yet having to sell it at 125.9ppl to match the major oil company and supermarket sites. Unlike the supermarkets and oil companies, we do not have other activities to subsidise this below cost price selling so we are literally losing 2ppl right now, and will probably not survive for long. In the past few months the wholesale price has gone up virtually every day by record amounts of 0.5ppl to as much as 2.5ppl in one day! This is unheard of in our industry.

Oil companies aren't making record profits by selling petrol and diesel, they are making record profits by producing the stuff.
 

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