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Old 16th June 2022, 11:01   #81
Phil th Barrow
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Yes. Make it rare thus increasing its value. KERCHING... I wonder when this lets see how far can we go before they stop buying it exsperiment last's...
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Old 16th June 2022, 16:37   #82
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IMHO :

1) As 95% of delivery lorries are diesel, diesel will be around for a long time, as there is no practical alternative.
2) In order to control delivery costs and hence inflation, I suspect the government will TRY to limit diesel prices.
Petrol drivers will be pushed to electric and hybrids.
3) Fuel prices will go higher, until the Ukraine war ends (probably) sometime next year. Unless Russia collapses first.
4) Road taxes will really start to rise for those older cars with higher emissions.

Last edited by MarkS; 16th June 2022 at 17:39..
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Old 16th June 2022, 21:41   #83
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Extraordinary stat:
In 2008, when oil prices peaked at $144/barrel, no one in GB paid more than 120p per litre of petrol. Today, oil price is $113 but pump prices 186p litre. Difference is collapse in sterling from $2 to $1.20.

Just wondering if something happened that caused the £ to fall against the $ & €………..??
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Old 16th June 2022, 22:15   #84
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Quote:
Originally Posted by Stevie25 View Post
Extraordinary stat:
In 2008, when oil prices peaked at $144/barrel, no one in GB paid more than 120p per litre of petrol. Today, oil price is $113 but pump prices 186p litre. Difference is collapse in sterling from $2 to $1.20.

Just wondering if something happened that caused the £ to fall against the $ & €………..??
Don't think is so much to do with the €/£ being weak as such but the $ is strong.
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Old 16th June 2022, 23:30   #85
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Don't think is so much to do with the €/£ being weak as such but the $ is strong.

I will try to answer my own question:

1£ purchased 1.85$ in 2008
1£ purchases 1.24$ in June 2022

Barrel of Oil is priced in $, hence price of petrol

What could possibly has caused this sharp decline in the £ ??
Open to suggestions !
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Old 17th June 2022, 13:08   #86
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Fuel prices hit new record again today. Ouch! https://www.fleetnews.co.uk/news/car...ale-costs-fall
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Old 17th June 2022, 13:33   #87
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Quote:
Originally Posted by Stevie25 View Post
I will try to answer my own question:

1£ purchased 1.85$ in 2008
1£ purchases 1.24$ in June 2022

Barrel of Oil is priced in $, hence price of petrol

What could possibly has caused this sharp decline in the £ ??
Open to suggestions !
You raise a very important point. All the G20 countries and others have been depreciating their currencies for years. When the monetary policy of an individual country gets totally 'out of whack' with other baskets, that currency gets sold off and we see a Zimbabwe or a Venezuela. Most governments excel at not balancing their books like we plebs have to. They over promise to get elected in democracies, rob Peters to get the cash to pay pay Pauls ( their supporters), thus creating capital misallocations on a grand scale and then 'print money' to fill any gaps in public finances. If they try to balance the books, the opposition screams austerity, so the dog and pony show goes on until we arrive where we are now. You can't shut an economy down for two years and print over £440 billion without consequences. If Labour or anyone else achieves a majority at the next election, they'll probably regret it! The macro economic headwinds don't recognise political parties. They just do their thing when Pandora's box has been open long enough.
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Old 17th June 2022, 15:22   #88
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The pound has been falling on the world's exchanges for years, long before Brexit was even thought of.
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Old 17th June 2022, 16:43   #89
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Quote:
Quote:
Originally Posted by Lancpudn View Post
Fuel prices hit new record again today. Ouch! https://www.fleetnews.co.uk/news/car...ale-costs-fall
A week today i paid £1.89 today i paid £1.96, it cost me £32 to get to Conwy and back yesterday, and i didn't even bump into Jules

Note £40.00 worth of diesel £6.67 is VAT now if the GOV knocked of VAT then we would be in a good place
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Old 17th June 2022, 17:23   #90
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Quote:
Originally Posted by Arctic View Post
Note £40.00 worth of diesel £6.67 is VAT now if the GOV knocked of VAT then we would be in a good place
Can't see the government being in any hurry to give that up. Everybody talks about a windfall tax on companies, the VAT on fuel is just about the definition of a windfall.
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