Petrol prices to hit £1-20

[SO16_Saint]

http://news.bbc.co.uk/1/hi/business/8569525.stm

 

bloody disgrace if you ask me.

 

When are they going to pass on the reduction in the wholesale cost...oh, they wont.

 

:mad:

[bungle]

Never mind.

 

At least the real terms cost of motoring has gone DOWN since 1997. The all-powerful motoring lobby always gets the best deal, but always whinges.

[SO16_Saint]

Never mind.

 

At least the real terms cost of motoring has gone DOWN since 1997. The all-powerful motoring lobby always gets the best deal, but always whinges.

 

so has my bank balance since 2009

[bungle]

so has my bank balance since 2009

 

Well, as a driver you are lucky as things are now cheaper for you.

 

If you had to use the train you would be paying more in real terms.

[GenevaSaint]

Fromt he BBC....

 

"The price of oil is a major determinant of the price of petrol, and yet the current oil price of about $80 a barrel is far below the $147 a barrel-high seen in the summer of 2008, the last time petrol prices neared £1.20 a litre."

 

Fecking disgrace

[GenevaSaint]

Another disgrace is the price of Gas, not got any figures but they've not reduced prices significantly since the wholesale price plummeted.

[Gingeletiss]

I had a 'join us' request on facebook, and it all seems so simple. Mr Brown will not intervene, as he is sucking tax revenue out of this, the oil companys will not drop their prices, as they are not under any presure to do so. The Arabs are holding the world to ransom, even though the oil reserves in the USA, are greater than anything that the deserts can anti up.

 

Solution...we all boycott the two biggies, Esso and BP. We stop going to their garages, we stop buying their fuel, we stop going to their forecourt shops, don't buy their oils etc etc. I know they supply supermarkets, but thems the places we go. If we all done this, then they would drop their prices quite quickly. The others would all fall into line, or else, we just buy from Esso and BP........lets make the ferkers lower their prices. They hold great sway over our goverments, let them make Brown drop his extortionate takes on fuel, because they will!.

[JackFrost]

It's amazing to think 7-8 years ago, people were blockading and protesting because it had reached 90.9 or thereabouts.

[SNSUN]

Fill up at Tesco or Sainsbury's, especially if they've got their 5p a litre off voucher running.

 

Ok, it may not be of great quality, but it makes my car go, and that's all I'm really looking for from petrol.

[$$$]

Fromt he BBC....

 

"The price of oil is a major determinant of the price of petrol, and yet the current oil price of about $80 a barrel is far below the $147 a barrel-high seen in the summer of 2008, the last time petrol prices neared £1.20 a litre."

 

Fecking disgrace

 

What was the pound/dollar exchange rate back then?

[hutch]

What was the pound/dollar exchange rate back then?

Will it come down then, when the rate improves after the election?

[warsash saint]

 

Solution...we all boycott the two biggies, Esso and BP. We stop going to their garages, we stop buying their fuel, we stop going to their forecourt shops, don't buy their oils etc etc. I know they supply supermarkets, but thems the places we go. If we all done this, then they would drop their prices quite quickly. The others would all fall into line, or else, we just buy from Esso and BP........lets make the ferkers lower their prices. They hold great sway over our goverments, let them make Brown drop his extortionate takes on fuel, because they will!.

 

Never use BP & Esso anyway...not cause of this boycott BUT cause they are always the most f**king expensive.

 

Gas, electric, petrol - these huge companies that make millions of $ a minute are just taking the p*ss :-x

[GenevaSaint]

What was the pound/dollar exchange rate back then?

 

July 08 was $1.99, oil was $147 approx £73 per barrel

March 10 is $1.50, oil is $80 so approx £53 per barrel

 

So even with these VERY crude (sorry!) comparisons the price hike is unjustified.

[Whitey Grandad]

July 08 was $1.99, oil was $147 approx £73 per barrel

March 10 is $1.50, oil is $80 so approx £53 per barrel

 

So even with these VERY crude (sorry!) comparisons the price hike is unjustified.

How about the 'fuel price escalator' ?

[Joey-deacons-left-nut]

 

Ok, it may not be of great quality, but it makes my car go, and that's all I'm really looking for from petrol.

 

It's exactly the same quality, they have an iso standard to adhere too..

 

The lower quality stuff is just a rumour.... probably started by the supermarkets competitors...

[Hatch]

Why is everything I do , drinking, driving etc, taxed so heavily.

 

Why don't they put massive tax rates on knitting, horse riding, watching Eastenders etc.

[buctootim]

Oil is ridiculously cheap - around 19p for a pint of crude. For £2.40 (2 litres) of petrol you can take 5 people to the New Forest and back.

 

The problem isnt the price of petrol - its the fact that people have got used to travelling stupid distances every day and now think its their God given right to do it at whatever price they feel like.

[GenevaSaint]

How about the 'fuel price escalator' ?

 

The FPE was ended in 1999, although obviously replaced by another method of taxation. Worst case scenario is 1% above inflation, so at best, that's a 7% rise since 08 taking a wild guess.

 

And to keep Dune happy, it was introduced by the Tories not the loony left :-)

[buctootim]

Why is everything I do , drinking, driving etc, taxed so heavily.

 

Why don't they put massive tax rates on knitting, horse riding, watching Eastenders etc.

 

Why dont you take up knitting, horse riding and watching Eastenders?

[GenevaSaint]

Why is everything I do , drinking, driving etc, taxed so heavily.

 

Why don't they put massive tax rates on knitting, horse riding, watching Eastenders etc.

 

You might as well start smoking as well Hutch.

[Johnny Bognor]

What was the pound/dollar exchange rate back then?

 

 

Bang on the money $$$ (well you would be with a name like that).

 

In Aug 2008, £1 = $2. We are currently at £1 = $1.50. So 50p would buy $1 then and now it costs 66p. This represents a 32% increase in the cost of the dollar and hence the cost of oil (as it is traded in dollars).

 

Add in the 3p extra fuel duty that will be added in a few weeks time and that pretty much explains the problem. They are a sneaky bunch though as they added 2p duty to the cost of fuel to offset the cut in VAT to 15%. Now VAT has gone back up to 17.5%, do we now get the 2p taken off????? Do we ****, they have managed to get away with adding 5p per litre to the price of fuel in 15 months. Not to mention the extra VAT generated by the increased duty (yes, we get taxed on the tax) and rising oil prices (due to the mismangement of the economy). Maybe the magic socialist money tree does exist afterall???????

 

Therefore lay off the Oil companies and look at who was responsible for the plunging value of the pound and the fuel duties......... to me it doesn't take a blind person to work it out, as the answer is jaw-droppingly obvious.

Edited 16 March, 2010 by Johnny Bognor

[GenevaSaint]

and rising oil prices (due to the mismangement of the economy).

 

Johnny, please do explain to a blind man why the rising oil prices are due to the mismanagement of the economy by the socialist (wtf) government?

 

I always though oil prices were driven by the global economy rather and the cartel of oil producing nations that rise or lower production as they see fit to keep prices high (generally).

[RedAndWhite91]

If the govt. didn't tax petrol so heavily they could reduce the price per litre by up to 50p.

[buctootim]

If the govt. didn't tax petrol so heavily they could reduce the price per litre by up to 50p.

 

 

If the govt didn't let people have free healthcare they could reduce the price per litre by up to 50p.

[RedAndWhite91]

If the govt didn't let people have free healthcare they could reduce the price per litre by up to 50p.

 

Touché.

[Hatch]

If the govt didn't let people have free healthcare they could reduce the price per litre by up to 50p.

 

 

Now theres an idea.

[warsash saint]

 

Therefore lay off the Oil companies

 

Hmmmmmm ... what those same oil companies that make the obscene billion $$$$$ profits each year ?????

[bridge too far]

What I genuinely don't understand is why petrol is currently so high when crude is trading at around $80 a barrel whereas they were so much lower in 2007 when it was trading at $132 a barrel :confused:

 

It can't ALL be down to tax, surely?

 

http://www.mongabay.com/images/commodities/charts/crude_oil.html

[Ponty]

It still costs twenty quid to buy twenty quid's worth of petrol.

[fish fingers]

What I genuinely don't understand is why petrol is currently so high when crude is trading at around $80 a barrel whereas they were so much lower in 2007 when it was trading at $132 a barrel :confused:

 

It can't ALL be down to tax, surely?

 

http://www.mongabay.com/images/commodities/charts/crude_oil.html

 

Companies may expect the price of a barrel to rise again shortly, they may charge a price that covers the cost of their future purchases of oil. The whole cost to us does not reflect the current trading price but also factors in the cost of their futures.

[Johnny Bognor]

What I genuinely don't understand is why petrol is currently so high when crude is trading at around $80 a barrel whereas they were so much lower in 2007 when it was trading at $132 a barrel :confused:

 

It can't ALL be down to tax, surely?

 

http://www.mongabay.com/images/commodities/charts/crude_oil.html

 

See the first bit of my earlier post, which explains a significant part of the rise.....

 

In Aug 2008, £1 = $2. We are currently at £1 = $1.50. So 50p would buy $1 then and now it costs 66p. This represents a 32% increase in the cost of the dollar and hence the cost of oil (as it is traded in dollars).

 

So effectively, prices have gone up 32% due to the fall in the £!!!!!

 

There was a song about Gordon once, I seem to remember it being something along the lines of calling him a moron.

[JonnyLove]

It still costs twenty quid to buy twenty quid's worth of petrol.

 

Yes but your getting less petrol for your £20.

 

The most annoying thing about this is (as people who drive for a living will know) that the Gov has not changed the level of tax relief on the fuel for business purposes and infact de-creased it last time even though petrol had gone up. So those of us who drive for a living are being royally done over.

[bridge too far]

Companies may expect the price of a barrel to rise again shortly, they may charge a price that covers the cost of their future purchases of oil. The whole cost to us does not reflect the current trading price but also factors in the cost of their futures.

 

So a lot of it is down to the traders and speculation? Funny how that only ever works one way

[hutch]

You might as well start smoking as well Hutch.

I do, but only because I can buy them for about £1 a packet.

 

Don't know about Hatch, though.

[Ponty]

Yes but your getting less petrol for your £20.

 

I hadn't thought of it like that.

[Chez]

Companies may expect the price of a barrel to rise again shortly, they may charge a price that covers the cost of their future purchases of oil. The whole cost to us does not reflect the current trading price but also factors in the cost of their futures.

 

funny cos they always bang on about the price being a reflection of what they paid in the past as they have to buy well in advance. Strikes me they change their tune to whatever fits.

[dune]

The lion share of the cost is tax. Petrol will remain at record prices until we have made in roads into paying off the Socialists debt mountain.

[Thedelldays]

maybe we could find some oil in one of our last remaining over seas dependancies..hold, we have...!!!!!

[saintwarwick]

Never use BP & Esso anyway...not cause of this boycott BUT cause they are always the most f**king expensive.

 

Gas, electric, petrol - these huge companies that make millions of $ a minute are just taking the p*ss :-x

 

Me neither, BP have the right initials for their policy, Big Profits. Sainsburys are 5p a litre cheaper around here and thats without money off coupons etc. The government will never intervene either as the higher the price the more in their coffers. It always amazes me how these companies hike the price up on the forecourts the moment the price of a barrel goes up but take months to reduce when the price of a barrel comes down. Pity this government didn't enforce the windfall tax more often, at least some of the huge profits could of been used for better purposes rather lining the already enormous pockets of the fat cats.

[Whitey Grandad]

It's exactly the same quality, they have an iso standard to adhere too..

 

The lower quality stuff is just a rumour.... probably started by the supermarkets competitors...

It's all down to the additives. My business is next to the storage tanks at Hamble and all the tankers fill up with the same product but just before they leave the terminal they get topped up with the anti-knock chemicals and other stuff that make it burn more cleanly. There is a definite difference in the performance and some engines can have problems with their valve seats. My missus's car always used to stall at traffic lights until I told her to stop using ASDA in Chandlers Ford and then she was ok. Their tanks were always full of water.

[GenevaSaint]

There was a song about Gordon once, I seem to remember it being something along the lines of calling him a moron.

 

So answer the question Johnny, why are oil prices the "fault" of the government?

[GenevaSaint]

The lion share of the cost is tax. Petrol will remain at record prices until we have made in roads into paying off the Socialists debt mountain.

 

Hey Dune, look up the fuel price escalator, introduced by the Tories in 93. 6% price rises year on year. Phased out by the Socialist scum in 99 and linked to RPI.

 

They were pushing up prices way before Labour. Did you know that before the FPE the UK had some of the lowest fuel prices in Europe.

[saintwarwick]

Hey Dune, look up the fuel price escalator, introduced by the Tories in 93. 6% price rises year on year. Phased out by the Socialist scum in 99 and linked to RPI.

 

They were pushing up prices way before Labour. Did you know that before the FPE the UK had some of the lowest fuel prices in Europe.

 

Are you suggesting labour are not pushing up prices through stealth taxes?

[Whitey Grandad]

Prices were always going to rise whatever the government. It's an easy target and one that's almost impossible to avoid, unless you stay at home all day.

[bungle]

Again, the motoring lobby likes to ignore the fact that the cost of motoring has gone DOWN 13% since 1997.

 

This is compared to an INCREASE for public transport users.

 

Motorists have rarely had it so good, yet all they want to do is whinge. The motoring lobby is too powerful, and it is high-time motorists were ignored.

[dune]

On a brighter note at least diesel prices are the same as petrol now. I was well ****ed off when they were 15p/litre higher.

[GenevaSaint]

Are you suggesting labour are not pushing up prices through stealth taxes?

 

Warwick, not at all, read it again, seems clear to me.

 

But anyway, I'll rephrase, the Tories started pushing up the price of fuel way before Labour, who carried it on under a different scheme.

[stevegrant]

It's all down to the additives. My business is next to the storage tanks at Hamble and all the tankers fill up with the same product but just before they leave the terminal they get topped up with the anti-knock chemicals and other stuff that make it burn more cleanly. There is a definite difference in the performance and some engines can have problems with their valve seats. My missus's car always used to stall at traffic lights until I told her to stop using ASDA in Chandlers Ford and then she was ok. Their tanks were always full of water.

Did you call in Trading Standards? If that allegation were true, it would be illegal practice on ASDA's part...

[Doctoroncall]

The lion share of the cost is tax. Petrol will remain at record prices until we have made in roads into paying off the Socialists debt mountain.

 

But hasn't the stockmarket speculators created this false price to make money in buying up crude?

 

Brown sold the UK's gold at rock bottom prices to help him out of a jam, but I don't think you can blame socialists entirely for this problem.

[stevegrant]

Again, the motoring lobby likes to ignore the fact that the cost of motoring has gone DOWN 13% since 1997.

Where are the facts to back up that statement?

 

Even allowing for inflation, when I passed my test in 2000, the price of a litre of unleaded petrol was about 75p. I paid 117p on Saturday. That's a 56% increase...