Oil price is not lower than in 2008 wen you convert it into pounds. The pound has massively lost value since then.
2008 1£=1.99$ Brent 139$ - > 69£
2024 1£=1.27$ Brent 90$ - > 71£
Plus you dont put oil in your car, all the cost of turning oil into petrol have gone up with inflation.
Diesel has been particularly affected as lots of Diesel processing plants closed with covid leading to the diesel price relative to oil price to be alot higher post pandemic.
This is the actual correct answer that doesn't just knee-jerk blame profiteers/capitalism, but yes OPEC have an influence over the oil price. Nothing that the UK can do about that though.
My petrol Focus in 2008 would do around 35MPG, my current car, also a petrol Focus will do around 45MPG.... once you start factoring wage/CPI inflation in too it's probably cheaper in real terms to travel a mile than it was in 2008 despite the GBP devaluing so much against the USD.
> nothing that the UK can do
Actually there's a lot the UK can do:
1) The UK is taxing petrol at the pump: 52.95p per liter + VAT that's a considerable amount of taxes on a product.
2) Stop relying on short term gains (this one is a tough one): we (the UK) decided to refine diesel overseas because "it's cheaper" (and the same can be said about a lot of industries, yes Uranium I am looking at you!).
All of this is a political decision.
Nowhere have I said that petrol duty wasn't the same, if you read my post carefully you can still see that this product is taxed at an incredible rate.
I don't care what France, Germany and Italy are doing they have huge issues coming up and not sure they are a reference to follow regarding their energy policy (that's just my opinion).
I referenced those countries as in Europe - political decisions have been made to have high fuel taxes - it isn’t a UK specific decision.
Eta - think how high duty would be had rates not been frozen in 2011 and then reduced in 2022. Applying 3% inflation to the 59p in 2011 means without the rate freezes - duty would be 87p per litre now - without regard to how high inflation was in 2022/2023.
It's not a UK specific decision but there's a lot the UK could do with this (which was the point originally made). We decided to go in this direction, now we pay the consequences...
On top of this, wages for the people involved in all aspects of the UK supply line have increased and transport costs have significantly increased post pandemic.
Interestingly, I live in a part of the country where when Diesel prices went to their highest, my local Morrisons & Asda were charging £1.89 p/l. The next town over it was 1.76 p/l at both Asda & Tesco. When the CMA announced an investigation, almost overnight the local to me supermarkets dropped their prices to some of the lowest in the country, and as of this week are still 1.46 p/l of Diesel compared to 1.50 p/l most places elsewhere.
There is a lot of profiteering going on
Be careful on 2008 - the highest rate in March 2008 was $2.10 to the £1 (I remember as I transferred money to the US to buy a house) but my December when I visited it was $1.45.
Yes it is but as I understand it the way the refinery is setup determines what Fuels you get more of.
It Just seems like there were alot of refineries geared towards producing more diesel were in need of alot of Investment and with diesel consumption growth preditions being smaller than petrol due to in other things a shift away from diesel cars and heating, it didnt make sense to make the Investment and many shut down.
https://time.com/6315039/diesel-shortage/
A lot of it comes down to fuck you you need me, so they charge what you want and for some petrol stations there's no competition to drive the price down, as there's a single Esso here which rarely drops below 1.509 a litre, and the BP up the road charges the same as it's in the middle of the A420 with no station within 10 miles of it except for the Esso.
I always use petrolprices to check who's cheapest in the area, and usually for me Abingdon Tesco is around 10p a litre cheaper others.
But then you’ve got to go to Abingdon /s
I feel like OP must be young, I remember paying about £1 p/l petrol 10 years ago, then around covid they really shot up and there’d be days I’m pending £1.8 p/l.
I was going to say, I remember it being closer to 45-50p a litre in those days, not like I used to pay for fuel back then cos I was a kid, but my mum used to meticulously record her fuel spends and mileage in an exercise book, and I remember getting disproportionately excited about it being 44.4p at some point.
Actually knowing my mum being the hoarder that she is, she probably still has the book in a box or drawer somewhere, I should ask her next time I see her, it might make for interesting (or more likely, infuriating) reading and a few calculations could be quite enlightening when it comes to working out how far you can go for how much money adjusted for inflation.
For quite a long time I stuck to petrol engined cars, 30-40mpg average fuel economy. I remember the cost of driving to London and back from where I live in Devon was about 45 quid in 2010, eventually in 2017 or so, it got closer to 80 quid, whereupon I got myself a 2 litre diesel which could easily do 65 MPG on a run, which brought my costs down to a slightly more affordable 55 quid again. Of course not long later the ULEZ came in which immediately brought the cost of a trip to the City back to 85 quid, even if I didn't use the car whilst I was there. The knock on effect is that I now rarely go up there and don't see my friends often if ever.
For those asking why I don't just get the bus or the train, the quickest train costs close to £300 return and isn't much faster than driving, the cheaper train is still about 160 return and takes five hours, the bus is considerably cheaper but takes at least five hours if not longer if the traffic is bad, and smells of piss. A railcard is fairly pointless unless you're using it regularly. Of course the fact I'd be travelling at weekends also pushes the fare up.
However considering my weekly pay is a shade under 300 per week after tax and NI, this makes a quick trip up to the capital an expansive and rare luxury.
It's not even that far... 165 miles or so as the crow flies.
In covid it went to 99p a litre for a while for petrol...which was nice as my DC2 drank alot as all the roads were empty due to lockdowns, so i could nail it everywhere. It was like driving in the early 90s.
I can remember paying 37p a litre for reference when I turned 16 and recall seeing 55p a litre as expensive when I was 18...
37p a litre? I remember my first fill was 3 shillings and sixpence - OK a motorcycle but it was well over a gallon so in this new fangled decimal - Is that just shy of 4p a litre?
You never thought about the cost of fuel. You did wonder if you'd have a shot of Redex though :)
The wonderful Redex treatment which lay down a smoke screen the navy would be proud of :) I'm pretty certain it did no good at all. But I too did it in my old Rover V8.
Pull the pancake airfilter off, pour bottle in to carb, slam bonnet, leave retail park in a massive smoke screen...that was my way...it did have a nice smell though...
It's not as bad as where I work (Didcot)
As a kid I remember when £10 would give you half a tank, even when I passed in 2018 It was still like £1.10 a liter which was great, and managed 2100 miles on just £120 worth of petrol.
I remember when it was just over a quid during covid. Your anecdotal point in time isn't a long term reflection of the price. Just like every other comment in this thread saying they remember it was x when they were y.
No, I remember those days too, soon after I started driving all the forecourts had to add an extra digit to their signs cause it’s the first time it went over £1.
I’d change to electric, but can’t put the money aside to do so cause it gets eaten away with the increasing fuel cost and all the other increasing bills
Far more of it comes down to tax. I know we, as motorists, are one of the most despised groups on earth but the taxation of fuel is absolute fucking horseshit.
First you pay the duty, that’s 35% and then, when that’s added on to the cost of fuel you also then pay VAT on all of it.
For all the whinging I’ve heard about ULEZ, and how the poor suffer, I hear almost nothing about the double taxation on fuel and the effect that has on low income families (and that’s before we go near the stupid cost of electricity vs natural gas for home supply).
I appreciate that cars are polluters - but honestly the shit state of roads and the piss take of VED+fuel tax really does boil my piss.
The actual garages, for what it’s worth, are making fuck all profit really.
No, it is not set as a %, it is a pence per litre amount. Freezing it for so long has in effect meant it has gone down in that time considering inflation. I know that doesn’t fit your “war on motorists” narrative but it’s the truth. Fuel duty is not what has made fuel more expensive. It takes up less and less % of the cost of fuel as the prices rise.
Not even capitalism, just market pricing. Even if the ownership model was different, but the pricing was still set by the market, we'd see the same behaviour.
>Oil companies are making bigger profits than ever - if the excuse is investment in green energy then why the profit? Surely investment means the money is spent elsewhere in the business not shown as profit?
Depends how it was invested. Capital expenditure doesn't hit bottom line profits as it'll go through as depreciation over time. If I spend £100m on capital assets that have a useful life of 50 years, I can depreciate that over those 50 years. So £2m a year hits my profit and loss accounts instead of the full £100m. This is a fundamental principle of accounting. R&D expenditure could be similar if it meets particular criteria and be capitalised as an intangible asset then amortised over time (which is just depreciation but for intangibles). Only revenue expenditure will hit the P&L in the way you expect.
I think the rest of what you're moaning about is "capitalism" and the magic of a captive market (but I skimmed the rest).
In my town we have 4 garages, 3 are owned by the same group. The last one used to be quite competitive, they’ve now realised they can charge the same as the other three.
This kind of cartel playing should be illegal.
Thats strange, I nearly always find them to be cheaper. They have less demand so they can’t set the prices as high as places with high demand like in large towns, cities and near motorways.
Expensive af anywhere here in brum, but when I go for a drive out to lovely welsh country roads i see petrol at much lower prices.
When you have a car like that, using premium can prevent knocking, which is when the fuel in the cylinder doesn’t all combust. I’d say for a F type it would be worth it. They also tend to have more effective cleaning agents to maintain the engine (prevent soot/carbon) and of course - less fucking ethanol.
As far as I know it’s fuel not igniting “when it’s supposed to” so presumably it could be either way around. I’m not an expert, but certainly cars designed for performance should ideally be using higher octane. But I’m always happy to be corrected!
Yes - they do for the F-Type - from the manual:
“It is recommended to use a premium unleaded fuel, with a minimum octane rating of 95 RON to contribute to optimum performance, fuel economy and driveability.
If premium unleaded fuel is not available, you may use unleaded fuel with a lower octane rating, down to a minimum of 91 RON , but this may reduce engine performance, increase fuel consumption, cause audible engine knock and other driveability problems.”
E10 is 95 octane isn't it?
I'm not being difficult it's just that I follow the manufacturer's guidelines for stuff like this. I can well believe they might have specified a higher octane. Bear in mind in the US some fuel is quite low octane. I think their super is 95. In fact checking super premium is 93.
"In Europe, the octane rating on the pump is simply the RON figure. America, by contrast, uses the average of the RON and the MON figures, called the AKI (anti-knock index). Thus, 97 octane “super unleaded” in Britain is roughly equivalent to 91 octane premium in the United States."
Hmm, not sure what to make of that.
Jaguar says up to 10% ethanol is fine, and yes I think E10 is 95 RON so it is fine, they just say “premium” which is sort of vague and pointless given the range that encompasses
Almost nobody is going to be buying petrol in 30 years.
The corporations have realised this, so they’re squeezing out as much profit as possible while they still can. The oil industry is effectively a cartel (OPEC) so nobody can stop them.
You know owning a car is subsidised in the UK?
The cost of road maintenance/building and healthcare impacts of vehicles to the taxpayer is less than the income from Fuel Duty and VED.
Money that could be going to social care or education from income tax goes to maintaining roads because fuel duty has been frozen while beer duty and VAT has gone up.
Fuel duty and VED pay for the roads three times over. I'd like to see your into on how private motor cars specifically cost the NHS 20% of its entire 160 billion pound budget every year.
Well the tax income is now less than £30bn and the DFT spends £15bn alone on road maintenance so not sure where your figures come from.
This doesn't include local authorities spending like London's £1.2bn silver town tunnel, or the 10miles of road outside Milton Keynes for £1bn.
Councils also need an _extra_ £16bn just to fix the current potholes, let alone new ones.
This doesn't include drainage, lighting etc etc
Oh and car and van emissions cost the NHS £6bn a year.
So no, they aren't paid 3 times over.
1, 3, 4 and 5 have the same answer. If your company isn't making a large percentage increase in profits over previous years, it's a failure.
2 is because those petrol stations have more demand, so they can sell fuel for higher prices. It's why I prefer buying petrol in rural areas with low traffic vs buying fuel at a motorway service station.
I live rurally and while the prices are lower than motorways they are not generally the cheapest. Low traffic does not imply low prices trust me.
We have two stations within 4 miles. One is always 5p a litre more than the other. Why? Because they can and people are daft enough to use them over the other one. But still nowhere near motorway prices.
There is a BP in a village I go through commuting that is at £1.61 for diesel. 5 miles down the road at an *unbranded* petrol station, its £1.49 a litre. I think you're right.
There was post a while back by some guy who was in the industry explaining how these different prices crop up. It made sense but I'm convinced they operate something of a cartel locally :)
Just one station kicks the trend.
Simple answer. Because we're bent over a barrel (no pun intended) and they want all the money, and because we can't do anything about it.
What else are you gonna do? Cycle the 10-20-30-40 mile commute every day? Carry your weekly shop home from the supermarket? Wait an hour for the bus to drop you 3 miles away from the rural village where your Nan lives when you go to visit?
Captive market. Everyone needs fuel and a relatively small amount of countries/ organisations can provide it.
Barrel price is determined by supply and demand. The top guys don't set the price. The buyer does. But, they can manipulate it by producing more oil or restricting their output.
In the UK, I believe 45% of your fuel bill is actually tax.
We are a country that loves taxing our money at every opportunity.
The U.K. public are all cowards
If this country had any gumption (see France) we would barricade the fuel stations and demand they stop scamming the entire country.
Record profits for oil companies though, oh and don’t forget Sunak and his family’s shares in BP. Everything’s fine, shut up and pay for your fuel like a good sheep.
Not a defense of their practises, just as much of an explanation I can offer.
1. Capital expenditure in a business (such as investment in green technology) doesn’t impact profitability. The profit is made, reported and then re-invested.
2. Major oil brand stations (BP, Shell, Esso et al) are now usually operated bt the brand itself. The forecourts are ran bt franchises who have discretion to set their own fuel pricing.
3. Pass
4. Oil is traded in dollars. You buy fuel at the pump with pounds. The exchange rate between the two currencies has worsened a lot over time, not in our favour. This is the reason for some of the disparity between historical barrel pricing and the price at the pump today.
5. The supermarkets price fuel differently by area to maximise what they believe they can get away with on pricing. There is no supply chain reasoning for this. Though supermarkets will source fuel from the nearest supply terminal. These are operated by a number of different suppliers across the country and so cost to supermarkets may vary between Manchester and London for example. But that doesn’t explain the difference in a much smaller local area.
I had to scroll down so far to find this. Every other comment bashing oil companies that really don't charge that much in the first place! The reason the price is so high is the tax, not oil companies haha.
Yeah, fuel prices are shite. It's exactly why I switched to electric. I'm lucky enough to have free charging at work. I've had my Volkswagen ID4 just over a month now, done 1200 miles and haven't paid a penny to charge it up. I know EVs aren't to solution for everyone, they seem to get a lot of unwarranted hate (I know a lot of EV owners are quite smug about having one, so I kind of get it).
I've seen a lot more posts and comments from ICE drivers (which I am) SAYING that EV drivers are smug than I have seen of EV drivers actually being smug. People just hate change. EV's have their downsides (which is why I don't have one yet) but the amount of obnoxious people slating them for made up or overblown out of proportion nonsense is mad.
Dunno, not seen any smugness yet. Although I do appear to have upset someone by suggesting sometimes EV's can be a viable option in another comment despite saying they don't make sense for me personally 😂
There will always be that few lol. I'm similar to you, I have a van for work with a fuel card so my car is just for SD&P use, and I will bask in the grumble of my V6 until I grow bored, grow up or I'm priced out of driving it and am forced to get an EV.
I actually like the idea of an EV, as most cars on the road aren't exactly what you'd call exciting anyway, just boring boxes to get us about so if they can do that more quickly, quietly and cheaply then I'm 100% for that as my day to day. If every car on the road today was an interesting or quirky or beautiful machine I'd probably feel differently. I like my Diesel because it works as a tool that suits my needs perfectly (apart from the cost of diesel!). But I think driving for pleasure is the one place the concept of EV's just doesn't match yet. In an ideal world I'd have an EV for the day to day stuff and an Alfa Gulia Quadrofoglio for pleasure but I can't afford that either 😂
Totally agree, just a sea of Corsas, Fiestas, silver BMWs and ugly crossovers. I drove my ex's father's Model 3 Performance and while it's fucking rapid it's just so boring, even the interior is bland and ugly. I think they've got a long way to go before they can even remotely begin to replicate or replace the love people have for ICE cars.
That Alfa is stunning and I'd have one in a heartbeat also if I could 😂 looking at a standard one as my next car anyway because they're just so pretty.
Agree on the Tesla thing. Think they're too minimalist and like you say, bland for my taste. Plus I'm not a fan of all the controls being on a touch screen which is a common complaint.
The Gulia is so pretty, it's a real wolf in wolf's clothing 😂
Man I love not having to buy fuel anymore. Two EVs running at 9p a kw on night rates from a ‘pump’ on the garage wall. Always used to feel like robbery at the forecourt
See whenever the fuel prices go mad like they are at the moment it does make me envious and I consider switching to EV. But I can't justify dropping close to 20k on a used one with decent range when my car costs me between £90-£130 pm on diesel and owes me nothing except running costs. If I were shopping for a new car or even used at that price point I'd be seriously considering it though.
Yup... Nifty idea, but can't justify going full EV.
Whatever I save is nuked by insurance for a BEV comparable to my IS. And I use the term "comparable" rather loosely because the interiors of a lot of these things are fucking awful.
In hindsight, a PHEV might have been a better choice for my situation. But on the other hand, 5 years from now I could be living in a terraced house and be unable to charge the car for all I know so 🤷♂️
Ace isn’t it?? All I see online is “it’ll burst into flames” or “will only do 50 miles in winter”, sheer moron levels of misinformation and brainwashing going on, but they’re actually bloody brilliant to live with!
About 30% less than summer. Plan ahead and it isn’t a problem. Did some big round trips this past winter, 500 miles to Scotland, Lakes etc and no issues with charging networks on the go etc
Of for sure the infrastructure is much better than it was. Problem is a lot of public chargers aren't really much cheaper than fuel anymore and when the new ICE ban kicks in they'll probably match the prices at the fuel pumps lol.
I just bought a used 2020 Nissan leaf for about £14K with 35K miles on it, 240 mile range with 94% battery capacity remaining. So not too bad and it's a top of the range model. There were also konas and ID3s going for not too much more. Insurance is setting me back £600 for the year. Maintenance fingers crossed should be nothing compared to petrol/diesel vehicles. Was a no brainer as I was spending £250 a month on fuel anyway.
£185 for my wife’s, on a salary sacrifice scheme, tyres, servicing and insurance included. Plenty of second hand EVs out there at affordable prices now 👍
Have you ever watched a TV programme call The News?
The price of oil has increased 16% over the last 3 months because of all the stuff that’s been going on in the Red Sea.
Yeah but let's be honest, they'll use anything they can to justify increasing the price. Price per barrel is so far removed from what they charge it's almost arbitrary at this point.
Right, but oil firms base prices on what they paid 6-12 months ago. It's pretty obvious when they up the prices on current world things going on, but are slack to reduce prices to benefit the consumer.
This is aside to oil firms making record profits. Profit... not overheads.
They definitely do not base prices on what they paid 12m ago.
Supply contracts will be based on month average, week average, or daily pricing (depending on contract).
Local retail pricing is just supply and demand and subject to ordinary competitive pressures. Station with no competitors but steady demand = higher price.
Thing is the price will creep down super slowly over the next 6-8 months even if I swim to the red sea right now and solve all the issues in that hemisphere of the world.
They never drop prices as quick as they can raise them
Brent is up past few months, so no surprised there.
Why is it up? Geopolitics, OPEC+ have been slowing down production, complaining profits are too low.
Fuel retailers typically go by the cost to replace stock, which is why prices rise in almost real time (1 week delay usually). If they didn’t charge what it would cost to replace stock, then they’d be cash flow negative every time prices increased.
Use petrol prices to compare prices.
People often say it's not worth driving 5 miles to get 3p off, and I fully agree, but if you can, for example on the way to work, shop at the cheaper places. That's how you put the message across that you don't want to be ripped off. Just shop somewhere else.
Oil companies are ran by OPEC a cartel who artificially fix prices to control supply and demand. They own most politicians in most counties to achieve this. I though this was common knowledge, it's not like the politicians or OPEC even deny this fact.
Cost me £67 for a tank in my astra. That's the orange light about to come on in the next few miles. Thought that was actually not bad. Costs me more to eat out once let alone drive 400 miles.
Because of two major reasons:
There’s less and less new investment going into exploration and production of crude oil because it takes years to see a return on that investment. With how politically unstable and uncertain the oil and gas industry is, investors have lost confidence in putting their money into these areas, at least in the time frames we as consumers need them to. This is governments fault for trying to push the clean energy transition with zero concern for oil and gas companies in the short and mid term. The result is that less investment going in whilst demand not really reducing = high oil prices.
Secondly, we are massively subject to what OPEC +, particularly Russia, want to do. They said they want to maintain a $80 a barrel benchmark and have steadily crept it up to $90 because they can, using geopolitical events as a mask. For context, pre pandemic it was around $70 a barrel. The US used to be a major net exporter of oil, now they are not. As I’m sure most people are aware, the global “recession”, at least in the western hemisphere, started due to an energy crisis. This is why Donald Trump’s campaign motto is “Drill baby drill”. He wants to reestablish investor confidence into oil and gas.
Whether you have an opinion on the green energy transition and whether this current pain with high prices is worth the long term, these are the facts.
£100 is nice ;) back when prices were at their peak I was paying £130+ to fill my Mondeo from empty, though it did have a crazy big tank.
Part of the reason I moved to petrol tbh, diesel stopped saving me money and the Mondeo at nearly 2 tonnes wasn’t great around town.
There’s a Shell garage near me which, on random days roughly once or twice a week, puts out a “cut price fuel today” sign and brings their prices down so they’re actually below supermarket prices. But even the ‘cut price’ they’re operating on at the moment is 143.7, when a month ago it was 136.7. Prices have definitely shot up over the last few weeks, although fwiw I think they’re still below what they were at the beginning of this year.
Bonkers isn't it. I've got a diesel daily and a petrol 'weekend' car that prefers premium/E5 unleaded. Tesco is currently selling Momentum99 E5 for about 4p a litre less than diesel. And diesel seems to have jumped up about 7p on a litre from when I last filled up a couple of weeks ago.
Someone said to me, and it seems plausible, that despite diesel being a cheaper fuel than petrol (let alone premium petrol) to produce, and therefore it should be cheaper at the pump, fuel companies keep price of diesel artificially high. The reason for this being that domestic diesel users still make up a relatively small and shrinking tranche of the fuel market, but because they know the commercial drivers, logistics/haulage industry, farmers etc depend on it and will keep paying for it no matter what the cost (within reason of course), they can keep pushing the price and still sell as much as they need without upsetting most of the general public who are now conditioned to think 'black pump = bad juju'. Of course the general public being how they are, don't realise they should be fighting alongside diesel owners because these dramatic increases in the cost of fuel ultimately directly affect the price they pay for almost every single item they buy...
I've noticed a slight increase, but only around a fiver a week. Nothing crazy. What does irk me though is the other bills associated with motoring. My insurance bill should be decreasing yearly but instead it is increasing around £100 a year and has been for the past few years. It's annoying. I pay the same now for a 2L car as I did when I was 18 for my first 1.2L car. What's that about?
They want us more reliant on public transport. The riff raff have been getting a bit above their station, clogging up the roads for far too long. Time to price them out of car ownership.
Insurance, Fuel, ULEZ, Congestion charges, VED, etc.
See also home ownership.
Nah, they just want to rinse a captive market for everything it's worth. OPEC don't give a shit about congestion in the UK. They just want as much money as possible. Hence the EV smear campaigns.
The push for EVs is about control. If you've not been a good citizen, they can simply deny your ability to receive electricity.
The removal of cash will complete this dystopia.
The fall of complete vehicle ownership and rise of PCP.
People are sleep walking into misery.
Biden shut down alot of the us oil production infrastructure. Pipelines to bring cheap oil from the north to south of us closed making the oil production not viable..
USA now buys lots of oil from middle east. Rather than home grown. They suppressed the price by using up lots of their reserves.
USA starts war with Russia causing eu sanctions to ban russian oil (instead EU buys in Russian oil that's been through middle men to hide it's from Russia that increases the price and is less efficient.)
USA blows up gas pipelines causing all eu energy prices to sky rocket.
USA demands Saudis increase oil supply to reduce the cost they say no.
War machine needs more energy so fuel goes up.
It's a world wide thing but yes UK government could reduce the price but the eco warlords think we'll start drinking it if it's cheaper and we need peasants out of cars.
Also UK politicians need the consultation jobs offered by energy firms so keep prices high to keep them happy.
It's going to go up till middle of next year probably.
Oil price is not lower than in 2008 wen you convert it into pounds. The pound has massively lost value since then. 2008 1£=1.99$ Brent 139$ - > 69£ 2024 1£=1.27$ Brent 90$ - > 71£ Plus you dont put oil in your car, all the cost of turning oil into petrol have gone up with inflation. Diesel has been particularly affected as lots of Diesel processing plants closed with covid leading to the diesel price relative to oil price to be alot higher post pandemic.
This is the actual correct answer that doesn't just knee-jerk blame profiteers/capitalism, but yes OPEC have an influence over the oil price. Nothing that the UK can do about that though. My petrol Focus in 2008 would do around 35MPG, my current car, also a petrol Focus will do around 45MPG.... once you start factoring wage/CPI inflation in too it's probably cheaper in real terms to travel a mile than it was in 2008 despite the GBP devaluing so much against the USD.
> nothing that the UK can do Actually there's a lot the UK can do: 1) The UK is taxing petrol at the pump: 52.95p per liter + VAT that's a considerable amount of taxes on a product. 2) Stop relying on short term gains (this one is a tough one): we (the UK) decided to refine diesel overseas because "it's cheaper" (and the same can be said about a lot of industries, yes Uranium I am looking at you!). All of this is a political decision.
Fuel duty is the same as it was in 2008 and so petrol is cheaper in the UK than other big European countries such as France, Germany, Italy.
Nowhere have I said that petrol duty wasn't the same, if you read my post carefully you can still see that this product is taxed at an incredible rate. I don't care what France, Germany and Italy are doing they have huge issues coming up and not sure they are a reference to follow regarding their energy policy (that's just my opinion).
I referenced those countries as in Europe - political decisions have been made to have high fuel taxes - it isn’t a UK specific decision. Eta - think how high duty would be had rates not been frozen in 2011 and then reduced in 2022. Applying 3% inflation to the 59p in 2011 means without the rate freezes - duty would be 87p per litre now - without regard to how high inflation was in 2022/2023.
It's not a UK specific decision but there's a lot the UK could do with this (which was the point originally made). We decided to go in this direction, now we pay the consequences...
Well - it is £30 billion a year that would need to come from somewhere else!
Instead of doing the "it's okay to pollute as long as you pay" we should invest and give people a real chance to be sustainable. My 2 cents.
On top of this, wages for the people involved in all aspects of the UK supply line have increased and transport costs have significantly increased post pandemic. Interestingly, I live in a part of the country where when Diesel prices went to their highest, my local Morrisons & Asda were charging £1.89 p/l. The next town over it was 1.76 p/l at both Asda & Tesco. When the CMA announced an investigation, almost overnight the local to me supermarkets dropped their prices to some of the lowest in the country, and as of this week are still 1.46 p/l of Diesel compared to 1.50 p/l most places elsewhere. There is a lot of profiteering going on
Be careful on 2008 - the highest rate in March 2008 was $2.10 to the £1 (I remember as I transferred money to the US to buy a house) but my December when I visited it was $1.45.
Why have diesel plants closed and not petrol? Was diesel not a byproduct from the cracking of oil for petroleum?
Yes it is but as I understand it the way the refinery is setup determines what Fuels you get more of. It Just seems like there were alot of refineries geared towards producing more diesel were in need of alot of Investment and with diesel consumption growth preditions being smaller than petrol due to in other things a shift away from diesel cars and heating, it didnt make sense to make the Investment and many shut down. https://time.com/6315039/diesel-shortage/
A lot of it comes down to fuck you you need me, so they charge what you want and for some petrol stations there's no competition to drive the price down, as there's a single Esso here which rarely drops below 1.509 a litre, and the BP up the road charges the same as it's in the middle of the A420 with no station within 10 miles of it except for the Esso. I always use petrolprices to check who's cheapest in the area, and usually for me Abingdon Tesco is around 10p a litre cheaper others.
But then you’ve got to go to Abingdon /s I feel like OP must be young, I remember paying about £1 p/l petrol 10 years ago, then around covid they really shot up and there’d be days I’m pending £1.8 p/l.
When I started driving, I was paying 70-odd pence per litre... And that was only as far back as the late 90s.
Just under 50p per litre for me in 95.
I was going to say, I remember it being closer to 45-50p a litre in those days, not like I used to pay for fuel back then cos I was a kid, but my mum used to meticulously record her fuel spends and mileage in an exercise book, and I remember getting disproportionately excited about it being 44.4p at some point. Actually knowing my mum being the hoarder that she is, she probably still has the book in a box or drawer somewhere, I should ask her next time I see her, it might make for interesting (or more likely, infuriating) reading and a few calculations could be quite enlightening when it comes to working out how far you can go for how much money adjusted for inflation. For quite a long time I stuck to petrol engined cars, 30-40mpg average fuel economy. I remember the cost of driving to London and back from where I live in Devon was about 45 quid in 2010, eventually in 2017 or so, it got closer to 80 quid, whereupon I got myself a 2 litre diesel which could easily do 65 MPG on a run, which brought my costs down to a slightly more affordable 55 quid again. Of course not long later the ULEZ came in which immediately brought the cost of a trip to the City back to 85 quid, even if I didn't use the car whilst I was there. The knock on effect is that I now rarely go up there and don't see my friends often if ever. For those asking why I don't just get the bus or the train, the quickest train costs close to £300 return and isn't much faster than driving, the cheaper train is still about 160 return and takes five hours, the bus is considerably cheaper but takes at least five hours if not longer if the traffic is bad, and smells of piss. A railcard is fairly pointless unless you're using it regularly. Of course the fact I'd be travelling at weekends also pushes the fare up. However considering my weekly pay is a shade under 300 per week after tax and NI, this makes a quick trip up to the capital an expansive and rare luxury. It's not even that far... 165 miles or so as the crow flies.
50p in 95 is £1.50 today so the prices haven’t actually gone up much
Then in real terms they’ve gone down because fuel duty hasn’t gone up since 2010 and went down in 2022 which rolled fuel duty back to 2008 rates.
In covid it went to 99p a litre for a while for petrol...which was nice as my DC2 drank alot as all the roads were empty due to lockdowns, so i could nail it everywhere. It was like driving in the early 90s. I can remember paying 37p a litre for reference when I turned 16 and recall seeing 55p a litre as expensive when I was 18...
37p a litre? I remember my first fill was 3 shillings and sixpence - OK a motorcycle but it was well over a gallon so in this new fangled decimal - Is that just shy of 4p a litre? You never thought about the cost of fuel. You did wonder if you'd have a shot of Redex though :)
Used to sneak in two shots if the attendant was not looking, 5 shilling a gallon those days.
redex wasn't at the pump then...but I could get from the garage...run a bottle through and smoke every out...
The wonderful Redex treatment which lay down a smoke screen the navy would be proud of :) I'm pretty certain it did no good at all. But I too did it in my old Rover V8.
Pull the pancake airfilter off, pour bottle in to carb, slam bonnet, leave retail park in a massive smoke screen...that was my way...it did have a nice smell though...
Take out all 8 plugs, put some in each cylinder, leave overnight, crank engine to eject excess, replace plugs, start and apologise to neighbours.
It's not as bad as where I work (Didcot) As a kid I remember when £10 would give you half a tank, even when I passed in 2018 It was still like £1.10 a liter which was great, and managed 2100 miles on just £120 worth of petrol.
I remember when it was just over a quid during covid. Your anecdotal point in time isn't a long term reflection of the price. Just like every other comment in this thread saying they remember it was x when they were y.
No, I remember those days too, soon after I started driving all the forecourts had to add an extra digit to their signs cause it’s the first time it went over £1. I’d change to electric, but can’t put the money aside to do so cause it gets eaten away with the increasing fuel cost and all the other increasing bills
Far more of it comes down to tax. I know we, as motorists, are one of the most despised groups on earth but the taxation of fuel is absolute fucking horseshit. First you pay the duty, that’s 35% and then, when that’s added on to the cost of fuel you also then pay VAT on all of it. For all the whinging I’ve heard about ULEZ, and how the poor suffer, I hear almost nothing about the double taxation on fuel and the effect that has on low income families (and that’s before we go near the stupid cost of electricity vs natural gas for home supply). I appreciate that cars are polluters - but honestly the shit state of roads and the piss take of VED+fuel tax really does boil my piss. The actual garages, for what it’s worth, are making fuck all profit really.
Fuel duty has been frozen since 2010
Frozen at 35%, very helpful. Plus VAT.
No, it is not set as a %, it is a pence per litre amount. Freezing it for so long has in effect meant it has gone down in that time considering inflation. I know that doesn’t fit your “war on motorists” narrative but it’s the truth. Fuel duty is not what has made fuel more expensive. It takes up less and less % of the cost of fuel as the prices rise.
"petrolprices"... Is that an app or a website?
That's capitalism for you. Most of your points boils own to 'We can charge that because you need it and are still buying it'.
Not even capitalism, just market pricing. Even if the ownership model was different, but the pricing was still set by the market, we'd see the same behaviour.
>Oil companies are making bigger profits than ever - if the excuse is investment in green energy then why the profit? Surely investment means the money is spent elsewhere in the business not shown as profit? Depends how it was invested. Capital expenditure doesn't hit bottom line profits as it'll go through as depreciation over time. If I spend £100m on capital assets that have a useful life of 50 years, I can depreciate that over those 50 years. So £2m a year hits my profit and loss accounts instead of the full £100m. This is a fundamental principle of accounting. R&D expenditure could be similar if it meets particular criteria and be capitalised as an intangible asset then amortised over time (which is just depreciation but for intangibles). Only revenue expenditure will hit the P&L in the way you expect. I think the rest of what you're moaning about is "capitalism" and the magic of a captive market (but I skimmed the rest).
OP seems pretty ignorant - they think bread and oil have similar supply chains.
You just filled up your car. That’s all the justification needed.
Don't you just love capitalism.
Because rip off Britain that's why Try having two cars that like the super unleaded currently it's £1.76
Where is it that price? I get Momentum 99 and that's only £1.55
In my town we have 4 garages, 3 are owned by the same group. The last one used to be quite competitive, they’ve now realised they can charge the same as the other three. This kind of cartel playing should be illegal.
A shell garage in a small town in the middle of nowhere
Captive customer, they raise the prices because you have no other option.
That's it! Unless I want to drive 15-20 miles to next town, not helped that I usually want petrol at some strange hour & they are open 24/7
It’s also more expensive to run a rural station.
Thats strange, I nearly always find them to be cheaper. They have less demand so they can’t set the prices as high as places with high demand like in large towns, cities and near motorways. Expensive af anywhere here in brum, but when I go for a drive out to lovely welsh country roads i see petrol at much lower prices.
I was just in Europe. €2.25 a litre.
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Only got a shell garage in my town nearest anything else with super is about a 20 mile round trip
Yeah, like a prick I just bought a car that only wants premium. What the fuck is wrong with me.
Haha welcome to the club I'm a long time member also a member of the constantly buys cars with rock hard suspension club
The British roads, the perfect place do drive something that has £400 per corner rubber and 1mm of total suspension travel.
😁😅
how does premium help? i just bought an f type and wondered why its better?
When you have a car like that, using premium can prevent knocking, which is when the fuel in the cylinder doesn’t all combust. I’d say for a F type it would be worth it. They also tend to have more effective cleaning agents to maintain the engine (prevent soot/carbon) and of course - less fucking ethanol.
Isn't knocking where the fuel combusts before it is meant to? Pretty sure octane is the measurement of how much it takes for a fuel to combust.
As far as I know it’s fuel not igniting “when it’s supposed to” so presumably it could be either way around. I’m not an expert, but certainly cars designed for performance should ideally be using higher octane. But I’m always happy to be corrected!
Sold. Buying a tank of premium now!
Do Jaguar recommend it?
Yes - they do for the F-Type - from the manual: “It is recommended to use a premium unleaded fuel, with a minimum octane rating of 95 RON to contribute to optimum performance, fuel economy and driveability. If premium unleaded fuel is not available, you may use unleaded fuel with a lower octane rating, down to a minimum of 91 RON , but this may reduce engine performance, increase fuel consumption, cause audible engine knock and other driveability problems.”
E10 is 95 octane isn't it? I'm not being difficult it's just that I follow the manufacturer's guidelines for stuff like this. I can well believe they might have specified a higher octane. Bear in mind in the US some fuel is quite low octane. I think their super is 95. In fact checking super premium is 93. "In Europe, the octane rating on the pump is simply the RON figure. America, by contrast, uses the average of the RON and the MON figures, called the AKI (anti-knock index). Thus, 97 octane “super unleaded” in Britain is roughly equivalent to 91 octane premium in the United States." Hmm, not sure what to make of that.
Jaguar says up to 10% ethanol is fine, and yes I think E10 is 95 RON so it is fine, they just say “premium” which is sort of vague and pointless given the range that encompasses
I was a bit surprised E10 is OK for my 2000 XK8 but it is.
Same with my XJ. Although I had taken to Premium when the prices were low because I felt the detergent was somewhat helpful for an older engine.
That's mad, I paid £1.43 at Sainsbury's yesterday
£1.57 for me, but that was premium unleaded.
Oh no… poor you having to fill up both your cars with premium…
Yeah, nobody is gonna read all that. The price is creeping up again though.
Almost nobody is going to be buying petrol in 30 years. The corporations have realised this, so they’re squeezing out as much profit as possible while they still can. The oil industry is effectively a cartel (OPEC) so nobody can stop them.
The government taxation is the biggest issue
Uh, no. It’s the greed of the oil industry executives who will never be satisfied with their insane profits.
Fuel duty has been frozen for over a decade.
Mate if fuel wasn't taxed would be 75p a litre. Seventy five pence. A tax frozen at 100% is still a high tax
Vehicles cause damage to roads and pollution which impacts the health of the population — why would tax free petrol be a good idea?
You know owning a car is subsidised in the UK? The cost of road maintenance/building and healthcare impacts of vehicles to the taxpayer is less than the income from Fuel Duty and VED. Money that could be going to social care or education from income tax goes to maintaining roads because fuel duty has been frozen while beer duty and VAT has gone up.
Fuel duty and VED pay for the roads three times over. I'd like to see your into on how private motor cars specifically cost the NHS 20% of its entire 160 billion pound budget every year.
Well the tax income is now less than £30bn and the DFT spends £15bn alone on road maintenance so not sure where your figures come from. This doesn't include local authorities spending like London's £1.2bn silver town tunnel, or the 10miles of road outside Milton Keynes for £1bn. Councils also need an _extra_ £16bn just to fix the current potholes, let alone new ones. This doesn't include drainage, lighting etc etc Oh and car and van emissions cost the NHS £6bn a year. So no, they aren't paid 3 times over.
Hi Greta! Please stop sulking (again)
Laughs in EV (but also cries a bit in Oil Fired central heating)
1, 3, 4 and 5 have the same answer. If your company isn't making a large percentage increase in profits over previous years, it's a failure. 2 is because those petrol stations have more demand, so they can sell fuel for higher prices. It's why I prefer buying petrol in rural areas with low traffic vs buying fuel at a motorway service station.
I live rurally and while the prices are lower than motorways they are not generally the cheapest. Low traffic does not imply low prices trust me. We have two stations within 4 miles. One is always 5p a litre more than the other. Why? Because they can and people are daft enough to use them over the other one. But still nowhere near motorway prices.
There is a BP in a village I go through commuting that is at £1.61 for diesel. 5 miles down the road at an *unbranded* petrol station, its £1.49 a litre. I think you're right.
There was post a while back by some guy who was in the industry explaining how these different prices crop up. It made sense but I'm convinced they operate something of a cartel locally :) Just one station kicks the trend.
Wales is my go to. Spend £100 to get there and then I can save 5p a litre. Bargain.
The ansdwer to 1,3,4 and 5 is not sustainable though. Sooner or later it's gonna come back and bite someone's arse. And I think I can guess who's.
Simple answer. Because we're bent over a barrel (no pun intended) and they want all the money, and because we can't do anything about it. What else are you gonna do? Cycle the 10-20-30-40 mile commute every day? Carry your weekly shop home from the supermarket? Wait an hour for the bus to drop you 3 miles away from the rural village where your Nan lives when you go to visit? Captive market. Everyone needs fuel and a relatively small amount of countries/ organisations can provide it.
Barrel price is determined by supply and demand. The top guys don't set the price. The buyer does. But, they can manipulate it by producing more oil or restricting their output. In the UK, I believe 45% of your fuel bill is actually tax. We are a country that loves taxing our money at every opportunity.
The U.K. public are all cowards If this country had any gumption (see France) we would barricade the fuel stations and demand they stop scamming the entire country. Record profits for oil companies though, oh and don’t forget Sunak and his family’s shares in BP. Everything’s fine, shut up and pay for your fuel like a good sheep.
Not a defense of their practises, just as much of an explanation I can offer. 1. Capital expenditure in a business (such as investment in green technology) doesn’t impact profitability. The profit is made, reported and then re-invested. 2. Major oil brand stations (BP, Shell, Esso et al) are now usually operated bt the brand itself. The forecourts are ran bt franchises who have discretion to set their own fuel pricing. 3. Pass 4. Oil is traded in dollars. You buy fuel at the pump with pounds. The exchange rate between the two currencies has worsened a lot over time, not in our favour. This is the reason for some of the disparity between historical barrel pricing and the price at the pump today. 5. The supermarkets price fuel differently by area to maximise what they believe they can get away with on pricing. There is no supply chain reasoning for this. Though supermarkets will source fuel from the nearest supply terminal. These are operated by a number of different suppliers across the country and so cost to supermarkets may vary between Manchester and London for example. But that doesn’t explain the difference in a much smaller local area.
72% of what you pay goes on VAT and fuel duty. That’s the UK for you, and why it costs so much compared to other countries.
I had to scroll down so far to find this. Every other comment bashing oil companies that really don't charge that much in the first place! The reason the price is so high is the tax, not oil companies haha.
Yeah, fuel prices are shite. It's exactly why I switched to electric. I'm lucky enough to have free charging at work. I've had my Volkswagen ID4 just over a month now, done 1200 miles and haven't paid a penny to charge it up. I know EVs aren't to solution for everyone, they seem to get a lot of unwarranted hate (I know a lot of EV owners are quite smug about having one, so I kind of get it).
I've seen a lot more posts and comments from ICE drivers (which I am) SAYING that EV drivers are smug than I have seen of EV drivers actually being smug. People just hate change. EV's have their downsides (which is why I don't have one yet) but the amount of obnoxious people slating them for made up or overblown out of proportion nonsense is mad.
Funny you say that and in this very thread, two posts below yours are smug EV owners lol
Dunno, not seen any smugness yet. Although I do appear to have upset someone by suggesting sometimes EV's can be a viable option in another comment despite saying they don't make sense for me personally 😂
There will always be that few lol. I'm similar to you, I have a van for work with a fuel card so my car is just for SD&P use, and I will bask in the grumble of my V6 until I grow bored, grow up or I'm priced out of driving it and am forced to get an EV.
I actually like the idea of an EV, as most cars on the road aren't exactly what you'd call exciting anyway, just boring boxes to get us about so if they can do that more quickly, quietly and cheaply then I'm 100% for that as my day to day. If every car on the road today was an interesting or quirky or beautiful machine I'd probably feel differently. I like my Diesel because it works as a tool that suits my needs perfectly (apart from the cost of diesel!). But I think driving for pleasure is the one place the concept of EV's just doesn't match yet. In an ideal world I'd have an EV for the day to day stuff and an Alfa Gulia Quadrofoglio for pleasure but I can't afford that either 😂
Totally agree, just a sea of Corsas, Fiestas, silver BMWs and ugly crossovers. I drove my ex's father's Model 3 Performance and while it's fucking rapid it's just so boring, even the interior is bland and ugly. I think they've got a long way to go before they can even remotely begin to replicate or replace the love people have for ICE cars. That Alfa is stunning and I'd have one in a heartbeat also if I could 😂 looking at a standard one as my next car anyway because they're just so pretty.
Agree on the Tesla thing. Think they're too minimalist and like you say, bland for my taste. Plus I'm not a fan of all the controls being on a touch screen which is a common complaint. The Gulia is so pretty, it's a real wolf in wolf's clothing 😂
Man I love not having to buy fuel anymore. Two EVs running at 9p a kw on night rates from a ‘pump’ on the garage wall. Always used to feel like robbery at the forecourt
See whenever the fuel prices go mad like they are at the moment it does make me envious and I consider switching to EV. But I can't justify dropping close to 20k on a used one with decent range when my car costs me between £90-£130 pm on diesel and owes me nothing except running costs. If I were shopping for a new car or even used at that price point I'd be seriously considering it though.
Yup... Nifty idea, but can't justify going full EV. Whatever I save is nuked by insurance for a BEV comparable to my IS. And I use the term "comparable" rather loosely because the interiors of a lot of these things are fucking awful. In hindsight, a PHEV might have been a better choice for my situation. But on the other hand, 5 years from now I could be living in a terraced house and be unable to charge the car for all I know so 🤷♂️
I've had mine a month and haven't paid a penny as I charge it for free at work. It's ideal.
Ace isn’t it?? All I see online is “it’ll burst into flames” or “will only do 50 miles in winter”, sheer moron levels of misinformation and brainwashing going on, but they’re actually bloody brilliant to live with!
They do get significantly less range in winter though lol.
About 30% less than summer. Plan ahead and it isn’t a problem. Did some big round trips this past winter, 500 miles to Scotland, Lakes etc and no issues with charging networks on the go etc
Of for sure the infrastructure is much better than it was. Problem is a lot of public chargers aren't really much cheaper than fuel anymore and when the new ICE ban kicks in they'll probably match the prices at the fuel pumps lol.
They are expensive, but still not as expensive as fuel (yet). The amount of money you save day-to-day though kind of negates that quite a bit
Not an ICE ban, a ban on the sale of new ice vehicles.
Yes. But eventually that will lead to the used market drying up as nobody will be able to get new ones and eventually will be no 2nd market.
And I suppose used car prices will increase. And as less ice demand fuel prices will increase too.
Yup all about that profit lol
Shhh let’s agree that all EVs are rubbish and keep the used prices down for those of us who want to benefit!
Haha tbh I’d really like used prices to go up because I’ve lost a load of value in mine 😂
I'm sure they are. Unless you're one of the many of us who can't charge at home or at work
Oh awesome, sounds perfect! I just need £30,000 cash for a base model EV. Pocket change! /s What's the monthly cost of the car, and the insurance?
You also need a driveway. Have fun paying petrol prices for electric in the street if you don't.
Well that's kinda what I was getting at....
I just bought a used 2020 Nissan leaf for about £14K with 35K miles on it, 240 mile range with 94% battery capacity remaining. So not too bad and it's a top of the range model. There were also konas and ID3s going for not too much more. Insurance is setting me back £600 for the year. Maintenance fingers crossed should be nothing compared to petrol/diesel vehicles. Was a no brainer as I was spending £250 a month on fuel anyway.
£185 for my wife’s, on a salary sacrifice scheme, tyres, servicing and insurance included. Plenty of second hand EVs out there at affordable prices now 👍
I pay £300, but that's everything. Car, insurance, maintenance, tyres and servicing. Just need to charge it. Maybe screen wash, that's it 😂
Have you ever watched a TV programme call The News? The price of oil has increased 16% over the last 3 months because of all the stuff that’s been going on in the Red Sea.
Yeah but let's be honest, they'll use anything they can to justify increasing the price. Price per barrel is so far removed from what they charge it's almost arbitrary at this point.
Right, but oil firms base prices on what they paid 6-12 months ago. It's pretty obvious when they up the prices on current world things going on, but are slack to reduce prices to benefit the consumer. This is aside to oil firms making record profits. Profit... not overheads.
They definitely do not base prices on what they paid 12m ago. Supply contracts will be based on month average, week average, or daily pricing (depending on contract). Local retail pricing is just supply and demand and subject to ordinary competitive pressures. Station with no competitors but steady demand = higher price.
Thing is the price will creep down super slowly over the next 6-8 months even if I swim to the red sea right now and solve all the issues in that hemisphere of the world. They never drop prices as quick as they can raise them
Their anti ev advertising and campaigning has been successful. No need to pretend any more, just keep ratcheting up the prices
Brent is up past few months, so no surprised there. Why is it up? Geopolitics, OPEC+ have been slowing down production, complaining profits are too low.
That’s a lot of waffle. Crude oil is at a near 6 month high. That’s it.
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Fuel retailers typically go by the cost to replace stock, which is why prices rise in almost real time (1 week delay usually). If they didn’t charge what it would cost to replace stock, then they’d be cash flow negative every time prices increased.
Use petrol prices to compare prices. People often say it's not worth driving 5 miles to get 3p off, and I fully agree, but if you can, for example on the way to work, shop at the cheaper places. That's how you put the message across that you don't want to be ripped off. Just shop somewhere else.
Sorry guys it's my fault. About a month or two ago I said "wow prices are decent" when it was around 1.34.... Sorry.
Oil companies are ran by OPEC a cartel who artificially fix prices to control supply and demand. They own most politicians in most counties to achieve this. I though this was common knowledge, it's not like the politicians or OPEC even deny this fact.
It's come down a lot recently, £15 a tank less compared to around a year ago, where are you buying it?
But they kindly dropped it down from £2+ / litre not so long ago....
Carovia helps you check fuel prices near you. Unlike other apps its not user reported so it’s real live data and can be filtered by price
Cost me £67 for a tank in my astra. That's the orange light about to come on in the next few miles. Thought that was actually not bad. Costs me more to eat out once let alone drive 400 miles.
I started driving less because of this. If we all do this collectively the prices will calm down more.
Part of the reason is the fuel tax contribution and inflation. I’m pretty sure both of those have increased since 2008.
Capitalism
Download Waze it has prices for nearby fuel
And subsidies have never been higher.
Always seems to creep up during school holidays.
Because of two major reasons: There’s less and less new investment going into exploration and production of crude oil because it takes years to see a return on that investment. With how politically unstable and uncertain the oil and gas industry is, investors have lost confidence in putting their money into these areas, at least in the time frames we as consumers need them to. This is governments fault for trying to push the clean energy transition with zero concern for oil and gas companies in the short and mid term. The result is that less investment going in whilst demand not really reducing = high oil prices. Secondly, we are massively subject to what OPEC +, particularly Russia, want to do. They said they want to maintain a $80 a barrel benchmark and have steadily crept it up to $90 because they can, using geopolitical events as a mask. For context, pre pandemic it was around $70 a barrel. The US used to be a major net exporter of oil, now they are not. As I’m sure most people are aware, the global “recession”, at least in the western hemisphere, started due to an energy crisis. This is why Donald Trump’s campaign motto is “Drill baby drill”. He wants to reestablish investor confidence into oil and gas. Whether you have an opinion on the green energy transition and whether this current pain with high prices is worth the long term, these are the facts.
£100 is nice ;) back when prices were at their peak I was paying £130+ to fill my Mondeo from empty, though it did have a crazy big tank. Part of the reason I moved to petrol tbh, diesel stopped saving me money and the Mondeo at nearly 2 tonnes wasn’t great around town.
There’s a Shell garage near me which, on random days roughly once or twice a week, puts out a “cut price fuel today” sign and brings their prices down so they’re actually below supermarket prices. But even the ‘cut price’ they’re operating on at the moment is 143.7, when a month ago it was 136.7. Prices have definitely shot up over the last few weeks, although fwiw I think they’re still below what they were at the beginning of this year.
why LPG is not a thing in UK?
Bonkers isn't it. I've got a diesel daily and a petrol 'weekend' car that prefers premium/E5 unleaded. Tesco is currently selling Momentum99 E5 for about 4p a litre less than diesel. And diesel seems to have jumped up about 7p on a litre from when I last filled up a couple of weeks ago. Someone said to me, and it seems plausible, that despite diesel being a cheaper fuel than petrol (let alone premium petrol) to produce, and therefore it should be cheaper at the pump, fuel companies keep price of diesel artificially high. The reason for this being that domestic diesel users still make up a relatively small and shrinking tranche of the fuel market, but because they know the commercial drivers, logistics/haulage industry, farmers etc depend on it and will keep paying for it no matter what the cost (within reason of course), they can keep pushing the price and still sell as much as they need without upsetting most of the general public who are now conditioned to think 'black pump = bad juju'. Of course the general public being how they are, don't realise they should be fighting alongside diesel owners because these dramatic increases in the cost of fuel ultimately directly affect the price they pay for almost every single item they buy...
Fuel is not expensive, you're just poor. Just work harder and be less poor(lol). \- Ricky Snake Eyes, Prime minister of the UK or something, probably.
Quietly rising again. They are just trying to grab as much as they can
Fill up at costco but go early or you'll have to queue
Heard of inflation?
I've noticed a slight increase, but only around a fiver a week. Nothing crazy. What does irk me though is the other bills associated with motoring. My insurance bill should be decreasing yearly but instead it is increasing around £100 a year and has been for the past few years. It's annoying. I pay the same now for a 2L car as I did when I was 18 for my first 1.2L car. What's that about?
We need to go on strike like we did in the 2000's
They want us less mobile
They want us more reliant on public transport. The riff raff have been getting a bit above their station, clogging up the roads for far too long. Time to price them out of car ownership. Insurance, Fuel, ULEZ, Congestion charges, VED, etc. See also home ownership.
Nah, they just want to rinse a captive market for everything it's worth. OPEC don't give a shit about congestion in the UK. They just want as much money as possible. Hence the EV smear campaigns.
You will own nothing 😡..... and be happy! 😃🔫
and be ~~happy!~~ compliant! Your happiness is not a requirement, your compliance is.
Who are they?
The push for EVs is about control. If you've not been a good citizen, they can simply deny your ability to receive electricity. The removal of cash will complete this dystopia. The fall of complete vehicle ownership and rise of PCP. People are sleep walking into misery.
Biden shut down alot of the us oil production infrastructure. Pipelines to bring cheap oil from the north to south of us closed making the oil production not viable.. USA now buys lots of oil from middle east. Rather than home grown. They suppressed the price by using up lots of their reserves. USA starts war with Russia causing eu sanctions to ban russian oil (instead EU buys in Russian oil that's been through middle men to hide it's from Russia that increases the price and is less efficient.) USA blows up gas pipelines causing all eu energy prices to sky rocket. USA demands Saudis increase oil supply to reduce the cost they say no. War machine needs more energy so fuel goes up. It's a world wide thing but yes UK government could reduce the price but the eco warlords think we'll start drinking it if it's cheaper and we need peasants out of cars. Also UK politicians need the consultation jobs offered by energy firms so keep prices high to keep them happy. It's going to go up till middle of next year probably.