No i'm not going to grumble that it's going down. But my Local Sainsburys station is gone down a few pence to 112.9 ( local asda a few miles away is going to be a penny less I would have gathered) So do we think this is going to keep going down? and will it stay down rather than bump up before the summer. Always a shame the price has gone down so much in the winter instead of all of us enjoying it in our cars and bike over the summer on Track days, Blats out etc... And 120.9 per ltr for Super is good for the wifes 86
I believe prices are set to drop much lower over the coming months, this is due to the US producing their own oil from Fracking and therefore not importing it and the Arab countries continuing with a high level of production even though there is a surplus. At the same same time they're hitting Russia and Iran hard as they suffer most from lower oil prices..
It's about time the consumer actually got the benefit of the low oil price it's been low for some time but the forecast have keep prices High for no reason than to fill their coffers the robbing gits.
. Are they selling at a loss? Duty (tax) per litre is around 57p, so this will be your base cost. You then have the cost of the labour and plant to retrieve, refine and transport the fuel. You also have the costs of labour, maintenance and possibly rents or rates at the forecourt. These costs will not have changed much. This is apparently around 48p, bringing the base cost per litre up to £1.05. We then have VAT at 21p. Total £1.26. So the cost of the barrel is unlikely to actually have a huge effect on the end user price. Oh and don't forget that the UK, up until quite recently, was a net exporter of oil so a drop in the barrel price is 'hitting' the treasury. The government must be dying to re-introduce the so-called fuel escalator to make up for the lost revenue both in the barrel price and also the VAT returns from the pump prices. However there's a General Election next spring so the present Coalition is unlikely to piss us all off by jacking up the Duty/VAT 'take' this side of next May. But after? I recon we'll be paying £1.45/L next June.
All I know in simple man economics I learnt during the University of Life education I received, is that I paid £27:50 for a return train ticket to London as I am on the lash tonight, and that's the same as a weeks fuel for commuting in the Blade. On the Blade I don't have to share a crowed cattle wagon with a bunch of sour faced bar stewards and save 2 hours a day round trip, so who cares if they are selling at a loss or not. In fact it could be 2 quid a litre and it would still be worth it compared to Southeastern trains.
I wonder if the price of everything will start to fall,food,clothing etc,as price rises have always been blamed on higher fuel/transport costs in the past.
Filled the Van up funnily enough Safto at Tesco in Crewe and did a double take at the Pump proclaiming that the Diesel I was filling up with was £1.10/Litre
HAHA NO What amazes me is that if the price of crude oil goes up then that goes straight to the pumps. if it goes down it takes ages to filter through
no chance of oil going up in price anytime soon.. so expect Petrol prices to remain low - I think for at least a year. All to punish Putin and his "necessary" invasion of Ukraine. My guess is another 35% drop in oil price still to come... scary stuff, I expect $45/bbl before end of Jan.
What was the price of petrol the last time oil was $60 a barrel?A damn sight less than £1.15 it is now.Someone is still making a killing,it needs to get around the £1 mark before the tide turns on this small section of Rip Off Britain.
The RAC are predicting it's going to keep falling: BBC News - Low oil price to push petrol below £1 a litre, says RAC Always hankered after an M5, but been scared off by the fuel bills...... maybe now is the time
