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breadnbutter
01 Sep 21 16:13
Joined:
Date Joined: 29 Aug 06
| Topic/replies: 8,798 | Blogger: breadnbutter's blog
Can anyone get to the bottom of the real reason the fuel prices are so high at the moment.

Looking at historical crude  oil per barrel price versus forecourt prices its clear there is no longer a correlation.

What is the real reason?

Why is the gov allowing the rip off to go unchecked.

Even the do called motoring groups the AA/RAC are very quiet on it, they have made statements but none seem to make sense or try to get to the real reason.

Oil output is high according to data, oil price is half the price the last time petrol/diesel was so high.

The AA offered a mealy mouthed statement and the RAC was even worse, here's what they said.

It is hard to see prices falling anytime soon, said Mr Williams. Confidence is building that there will be a global economic recovery and as trade picks up that is increasing demand for oil.

But as demand outstrips supply, wholesale fuel prices are pushed up, which has a knock-on effect for motorists.

"While we're not past the pandemic by any means, demand for oil is likely to continue to increase as economic activity picks up again, and this is likely to have the effect of pushing up wholesale fuel prices, costs which retailers are bound to pass on at the pumps," Mr Williams said.

He warned that unless major oil-producing nations decide a new strategy to increase output, forecourt prices could climb even higher towards the end of the summer.

Oil producing nations agree deal to control prices
The growing rivalry that's pushing up oil prices
Despite the recent price increases, petrol prices are yet to reach the highest level we saw in the middle of 2012.

In April 2012, prices peaked at 142p a litre for unleaded and 148p for diesel, according to Brian Madderson, chairman of the Petrol Retailers Association.

"We're still some way off that level and indications are that the oil price has checked and come back a little because of concerns that China may be going into an economic slowdown."

That could help dampen demand and "if that is the case, we'd expect the wholesale price to come back a little and then pump prices to follow within the month," Mr Madderson told the BBC.

But he tempered that optimism with a warning that the situation is "on a knife-edge at the moment" with "summer often the time of the year when there is significant maintenance work in the refineries, which restricts output".


This site is way off the money.

http://www.whatprice.co.uk/petrol-prices/petrol-oil.html#axzz75E5zRyIj


Can't really make sense of this stuff here.

https://inflationdata.com/articles/gasoline-vs-crude-oil-prices/


Anyone know the real reason for the rip off?

Do people really believe its  supply and demand?

it needs addressed, its not just fuel, everything is getting dearer and if it continues it will affect recovery.

The supermarkets made a fortune through covid, claimed they didnt, they were the first to hike price with no readon given.
Now the shop prices of food are creeping up too.
Supermarkets are to blame, they hiked it as soon as lockdown started to ease but now the price is crazy.

Motoring groups never seem to ask the supermarkets, just woffle, like they ain't really interested.

What's the truth of the matter.

Should we just buy electric cars ASAP, but noticed the electric prices have shot up lately and due for further increases.

Some electric companies are claiming 50% increase in wholesale fuel costs.... That can't be right.

If they don't get a grip on it, inflation gunna run away.


Please no time wasters, honest posters only, no mongs please.
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Report politicspunter September 1, 2021 5:16 PM BST
Regarding your last sentence, which category do I come under please?
Report Foinavon September 1, 2021 5:19 PM BST
I filled up with E10 today at £1.30 a litre. You get fewer mpg and pump out more CO2 per mile with this but we're told it will help save the planet.Whoops
Report breadnbutter September 1, 2021 5:34 PM BST
Try very hard to give an answer that doesn't involve trump /bleach/brexit/scotland/Boris/EU

If you can't,best to just hang back.

I will pm you if I need your input.
Report politicspunter September 1, 2021 5:37 PM BST
Ok, but which category do I come under in your final sentence please?
Report Cider September 1, 2021 5:50 PM BST
It's the base effect, breadnbutter. It wasn't this extreme, but imagine the pump price was 1.00, pandemic hits and price falls to 0.50, so 50%. To get back to the same pre pandemic price, you need an increase of 100%. Even though prices are the same as they were two years ago, they are 100% up over the last year.

.https://www.racfoundation.org/data/uk-pump-prices-over-time

I'm sure you're aware, but the vast majority of the cost of pump fuel is vat and duty, not the cost of the product itself. The suppliers might be adding a small margin to recover pandemic losses, now demand is restored.
Report JML September 1, 2021 5:57 PM BST
Haven't transport costs gone through the roof?

Container on a ship now costs 5+ times what it did a couple of years ago.

Perhaps the same has happened with oil tankers.
Report ----you-have-to-laugh--- September 1, 2021 6:04 PM BST
I remember when oil price went negative!


This new stuff is such a con.

A bit like wood burners being carbon
neutral.

They are all complicit, very few
pointing out the reality.

I'm all for being green and cutting
co2, I'm growing trees, and installed
a pond.

But hate all this fake zero emissions
sh1te
Report breadnbutter September 1, 2021 6:33 PM BST
OK, will ruminate that,but what your saying really is its just profiteering, but by who?

Why shoukd fuel supply be insulated from the rest of the economy?

all parts of the economy would like to be quickly back where it was but it ain't hap  like the fuel market place.

I think the gov should intervene, its not conducive to recovery and hurts the service sector, transport and haukage.not to mention all car owners.

Its a bad time for such high fuel costs, looks like bare faced profiteering and appears a cartel is in operation to keep fuel prices up.

But I will consider your response cheers and try and understand the dynamics of this sector better.

I know the gov weld a fair bit on but that's not increased out of line.

Everyone is on the road to recovery but the fuel price appears out of line with everything and it's not like you have a choice.

Supermarket sales of fuel were down during the lockdown  and they  have hammered us imo , all the folks holidaying in uk, hammered.

All the buisnisess trying to recover can only pass the costs on.

It will hurt the economy imo, the supermarkets made enough, but its never enough is it.

They are all being looked at by overseas funds, these folks ain't interested in selling bananas imo.

The time might be good to fix fuel prices similar to gas/electric.

I don't like gov meddling in private enterprise too much but the profiteering on show by the petrol/derv at the moment might suggest it's time to act.

Motorists hammered again, same old same old.
Report 1st time poster September 1, 2021 6:39 PM BST
because its a tory led fuel price hike and not a labour led fuel price hike,when tory farmers would be blocking all the roads,tractors in downing st etc
Report Cider September 1, 2021 6:40 PM BST
Domestic fuel is much worse. There will be some financially painful bills for folks struggling if we have a cold winter. An my heating came on in August!
Report breadnbutter September 1, 2021 6:40 PM BST
PP,I hope your well, don't think I was targeting you or anyone in particular with that, just light hearted banter.

As I got to the bottom of writing that I just thought, oh crap, I have just wasted my time,fed the trolls.

Now stop being a mong Happy
Report breadnbutter September 1, 2021 6:46 PM BST
Farmers use bougalaise, try again.

Or rather don't please.

Life's too short.
Report Johnny The Guesser September 1, 2021 6:47 PM BST
Tory led fuel price hike Laugh
Report breadnbutter September 1, 2021 11:04 PM BST
He ain't kidding bye the way.

Would be funny if he  wasn't, but nop deadly serious.



Laugh




SadCrySad
Report nineteen points September 2, 2021 8:42 AM BST
i suppose one way to get cars off the road is make them unaffordable to us plebs.hike up fuel is one of the ways.we will back back in our horse and carts sooner than you think.

levelling up? LaughLaughLaughLaughLaughLaugh
Report Aspro September 2, 2021 8:58 AM BST
It's been mentioned a few times on this thread already, but the hike in Gas/Electricity in October (next month!) is huge. I've already been estimated at a £200 (combined) hike... minimum!
Report nineteen points September 2, 2021 9:15 AM BST
Another tool to kill off the old and poor.

Was it levelling off or finishing off they said?Mischief
Report Timber September 2, 2021 9:21 AM BST
It's going to be a winter of mass culling

Let's hope it's a cold one or the smell of death with permeate the country
Report Timber September 2, 2021 9:21 AM BST
*will
Report PorcupineorPineapple September 2, 2021 9:35 AM BST
Once again I'm in awe of PP and the power he has over some forumites. Visit any thread nowadays and it's a good bet you'll see a post randomly diverting to talk about him.
Report johnnythebull September 2, 2021 9:59 AM BST
shafted from the day you're born and at an eye watering level now

you know it makes sense

viva la revolucion(coming to a cinema near you,hopefully sooner rather than later)
Report Aspro September 2, 2021 10:35 AM BST
The hike will definitely be felt by the low-paid, pensioners and the unemployed. It's probably going to average out at circa £20 per month, immediately! That's an incredible hike for these groups. Petrol on top for those that need/use a car is another crushing blow too. Bad times ahead.
Report 1st time poster September 2, 2021 10:51 AM BST
coincide nicely with scrapping of £20 uni credit uplift
Report Dr Crippen September 2, 2021 11:02 AM BST
Can't see why that £20 was needed in the first place.
Report Dr Crippen September 2, 2021 11:04 AM BST
Oh I see, they had to start using their dole to buy food, instead of getting stuff from the food banks.

What did they think their money was for?
Report Aspro September 2, 2021 11:16 AM BST
That's harsh Dr C. Whilst a hard-core of unemployed may squander their money, they are in a minority. Try living off benefits and you'll soon learn how difficult it is. The only real beneficiaries are the younger unemployed where they are still living with parents and are not made to pay rent/bills etc. Those who have to pay these really do struggle.
Report nineteen points September 2, 2021 11:17 AM BST
Food banks in 2021 global levelled up britain.

progress indeed.
Report Timber September 2, 2021 11:25 AM BST

Sep 2, 2021 -- 5:16AM, Aspro wrote:


That's harsh Dr C. Whilst a hard-core of unemployed may squander their money, they are in a minority. Try living off benefits and you'll soon learn how difficult it is. The only real beneficiaries are the younger unemployed where they are still living with parents and are not made to pay rent/bills etc. Those who have to pay these really do struggle.


The book worms don't seem to add much to the economy

Report Timber September 2, 2021 11:26 AM BST

Sep 2, 2021 -- 5:25AM, Timber wrote:


Sep  2, 2021 -- 10:16AM, Aspro wrote:That's harsh Dr C. Whilst a hard-core of unemployed may squander their money, they are in a minority. Try living off benefits and you'll soon learn how difficult it is. The only real beneficiaries are the younger unemployed where they are still living with parents and are not made to pay rent/bills etc. Those who have to pay these really do struggle.The book worms don't seem to add much to the economy


Not easy to keep a job when you need to be on your knees several times per day

Report Dr Crippen September 2, 2021 11:29 AM BST
Try living off benefits and you'll soon learn how difficult it is.

Not dificult at all Aspro, it's a lifstyle choice for many.

Those who want a better life go out to work and get it.
Report Aspro September 2, 2021 11:30 AM BST
I worked with the unemployed for several years and what I witnessed was the large majority of 'clients' wanted work. The difficulties they faced were poorly paid jobs, many with zero-hour contracts that would not make them better off at all. The wages paid today are no better than the 80's and 90's but, as this thread is now exposing, bills keep going up.

You're blinkered Dr C... yes, one or two may get out of the trap, but for the majority that just isn't possible.
Report politicspunter September 2, 2021 11:30 AM BST

Sep 2, 2021 -- 3:35AM, PorcupineorPineapple wrote:


Once again I'm in awe of PP and the power he has over some forumites. Visit any thread nowadays and it's a good bet you'll see a post randomly diverting to talk about him.


Is that the case? If it's from one of my blocked posters I have no idea what they say, but nice to know I am constantly in their thoughts Grin

Report Aspro September 2, 2021 11:32 AM BST
And to correct you Dr C, it may be a lifestyle choice for some, but it certainly isn't for 'many'
Report Dr Crippen September 2, 2021 11:56 AM BST
Believe what you like Aspro, but you won't pull the wool over my eyes.
Report Aspro September 2, 2021 12:00 PM BST
I agree with what you say, with some of the unemployed, but your words come across like they all the same, which simply isn't true. The 'majority' are not like that, they want to work, but as is usually best with these debates, we'll have to agree to disagree.
Report Dr Crippen September 2, 2021 12:21 PM BST
Of course they're not all the same.

But the opportunists simply ride on the backs of the genuine cases, and profit as the sympathy falls on all of them.
Report Knight Commander September 2, 2021 12:30 PM BST
The idea is, as always, to make people pay as much as possible for things.

Believe it was Chancellor Bismarck who said that taxation is like plucking a goose: you want to get the maximum amount of down for the minimum amount of hissing. That would have been about 150 years ago. Nothing changes.
Report breadnbutter September 2, 2021 2:15 PM BST
Not many chancellors are pheasant pluckers.
Report Cider September 10, 2021 2:43 PM BST
Advise anyone to lock in a fix for their domestic energy prices, if they can. Even if mid contract with zero or low exit fees. There's a massive hike happening.
Report lapsy pa September 10, 2021 2:56 PM BST
Good man Cider,wise advice i think.
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