Petrol Prices sneaking up again!

[Jay2 0]

Not sure if its just local but noticed that petrol has slowly sneaked back over the £1 mark, well yesterday varied from £1.01 to £1.03, depending on which Petrol Station you visited.

 

Coincidence that its just starting to creep up in price when everyone starts using their cars more often for events, holidays, etc. :mad2:

[junkie 0]

Yep agree, 3 months ago Shell V Power was 96p a litre now its 1.13p a litre.

[Jim 2]

Did a bit of Googling around and found this which was quite interesting - historic chart of the price of Crude Oil in the last 10 years or so...

 

http://futures.tradingcharts.com/chart/CO/M

 

We're currently at about the same price wise as we were in 2006 and doing some more digging on BBC news suggests that around this time in 2006 we were actually paying about the same. The price always peaks in the summer because of the demand of all the extra miles people do (driving to holiday destinations, days out, etc) - I suspect it might come down a little as we run in to the winter.

 

Don't forget of course that fuel duty has also gone up since 2006 so even though I still think we pay an extortionate amount, it's not really any worse than it was 3 years ago when the crude prices were about the same.

[james28 0]

i agree joke really tesco sell 99 ron and its now 113 :(

[swiftkid 1]

Notice how its sneaking up as the row about mp's expenses continues... coincidence, i think not. :bad-words:

[craigowl 0]

I recently found the regional variation of the diesel/petrol differential puzzling.

 

Here in the more densely populated central belt, diesel has usually been about 10p/ltr dearer, though it does vary a little.

 

A couple of weeks ago I noticed that in rural areas of Argyll/Stirlingshire the differential was less than 5p/ltr. Overall, prices there were higher, but why only a few pence difference between diesel and petrol?

 

Any similarities to this pattern out in the sticks in rural England and Wales?

[coullstar 0]

Price of oil is going up as well. :clap:

[BigTartanJudge 0]

Yep, woo-hoo :D

[Adz The Rat 0]

Im a manager at a petrol station and you wouldnt believe the amount of abuse we get about petrol prices.

They all think we are raking it in and making millions when in fact at the min we are actually losing money on unleaded and making about 1.5 pence per litre on diesel.

The worst is when someone puts in super unleaded and doesnt realise and then realises after, they go mad!!

[StuartFZR400 0]

yeh, its bound to huh.

got speaking to a guy who works for a big oil brnd; he says they're pumping it out nice and cheaply still in the east (pence per barrel); and theres plenty left, and didnt seemed about any 20 year forecasts. Also said theres a massive downturn in demand, as theres less need in plastics - less cars being built. Once thats gone, apparently theres equal amounts in Canada - onply problem is that it costs 5 times more to extract and clean up; £5/ltr in our lifetime im sure; how soon, who can tell.

[Timbo 0]

I wonder if the $/£ rate has any effect as it has recently made a come back...

[vwdeviant 0]

Notice this as I filled up for the first time in a month, thanks to HG fail and holiday!

 

Tesser's 99 ron is up to 1.06!

 

So that's an Ar*e Ra*ing for a tank of fuel again... today I will be walking with a definate waddle...

 

Thanks god I don't fill up with Shell super expensive V-power!

 

Will also explain the increased number of muppets driving slowly in the middle lane of the M25 again... yesterday.... W*nkers!

 

 

BTW, workes to about 60p/ltr for V-Power in Vietnam! :shock:

[coullstar 0]

yeh, its bound to huh.

got speaking to a guy who works for a big oil brnd; he says they're pumping it out nice and cheaply still in the east (pence per barrel); and theres plenty left, and didnt seemed about any 20 year forecasts. Also said theres a massive downturn in demand, as theres less need in plastics - less cars being built. Once thats gone, apparently theres equal amounts in Canada - onply problem is that it costs 5 times more to extract and clean up; £5/ltr in our lifetime im sure; how soon, who can tell.

 

Pretty much always been more demand than supply available but with the downturn the oil companies are cancelling or not looking at new exploration or production wells. Problem will be when the demand picks up again and it takes a couple of years of drilling/completing to catch therefore the price will skyrocket. The Canadain stuff is heavy oil which is difficult to produce, you need to inject steam just to get it to flow but the reserves are massive.

[MonkeyVR6 0]

Petrol has creeped up for me to...its now about 70 cents (59p) a litre of Shell V-Power Racing 100! :shock:

[Storm Warning 0]

I wonder if the $/£ rate has any effect as it has recently made a come back...

 

Oil is mainly traded in $, you need to buy $ to buy Oil, this gives the states lots of control of course. So, expensive $ mean expensive fuel. When Oil bottomed, the £ was very weak which stopped fuel going very cheap. Now we are being hit with oil going up at a time where the £ is still weak hence a sharp climb again and no doubt will exceed previous highs soon enough at the pump. Lets not get started on duty!

 

There was a country that started up a Euro Oil trade system to stop the $ stranglehold, Some would say they were not too popular with the US doing this. Little old Iran carried on though. :norty:

[WigsVR6 0]

Wait till September when the taxman puts an extra 2p/l on. Last week the local garage put his prices up 3 times. Supply and demand is a factor however its the greedy Government with its exopbitent Tax regeme which is to blame for the price of fuel in this country.