Petrol & diesel at record highs.

[Lancpudn]

Not just Gas & electricity prices at record levels with today's news saying that petrol £1.48/litre & diesel £1.51/litre have hit record highs It's getting beyond ridiculous. https://www.fleetnews.co.uk/news/fle...ol-pump-prices

[xsport]

it is indeed silly. reductions in wholesale prices never passed on to customers. the only upside is that at the moment at least you can get fuel. i have been waiting 3 wks now for LPG for my car. no deliveries to 3 outlets nearby where i live. demand has also rocketed due to restricted supplies and demand during the cold winter months. many people have changed over to domestic tank installations on LPG. which of course will get supplies first. im still waiting. !!

[roverbarmy]

Oil's been $40 a barrel or thereabouts for years and suddenly it's £100 to $120 ? I can appreciate that it costs a bit more to get it out of the ground and transport it/refine it but there is a limit. Or isn't there? Somebody is making a lot of money out of us!

[macafee2]

Shell and BP announce last week I think or was it the week before, record profits. Who'd have thought that?


macafee2

[Rev Jules]

Originally Posted by roverbarmy

Oil's been $40 a barrel or thereabouts for years and suddenly it's £100 to $120 ? I can appreciate that it costs a bit more to get it out of the ground and transport it/refine it but there is a limit. Or isn't there? Somebody is making a lot of money out of us!

How can it cost a bit more to get out of the ground once the well has been sunk
it still comes up through the same hole, my brother in law was in the oil business for year and according to him they find oil cap it, then move on to another site then do the same thing.

[wraymond]

Same old story, only it’s no longer a fairy tale.

Pile it high and sell it cheap, when it’s not moving. Pile it low (allegedly) when there is a crisis to take their minds off it and you can even blame it on the weather. Or anything else.

It’s also reported presently that oil (and energy comps) companies’ profits and margins have never been higher. Make hay while the fear is still on us. In the meantime sup with a very long spoon. Not that I’m cynical at all.

[Gate Keeper]

Last July the Kenyan government introduced subsidies on fuel because the high prices caused a lot of public anger and the government feared the country would grind to a halt if motorists could no longer afford to put fuel into their cars/trucks. For the past 4 months the price of fuel has been frozen, the oil mainly comes from Libya, a major supplier.

Current prices inclusive of 8% VAT

Petrol £0.84 per L
Diesel £0.72 per L

75% of Kenyan energy is geo thermal.

Could the UK government not subsidise the cost of fuel or suspend VAT on it to help the motorist out?

[torque2me]

Originally Posted by Rev Jules

How can it cost a bit more to get out of the ground once the well has been sunk
it still comes up through the same hole, my brother in law was in the oil business for year and according to him they find oil cap it, then move on to another site then do the same thing.

That is so. But the Opec cartel and the gulf states can reduce or increase. Before 2020 the gulf states tried to keep market share and deny Russia a larger share, hence the price war and the lower price.

I think that when demand went above the low's of 2020 certain countries (such as Saudi Arabia) did not increase their production in line with this and thus created a "tightness in availability" and then countries had to start paying monetary premiums to secure supplies. Simmmples!

Kev

[wraymond]

It's an old parable, but blessings do sometimes come disguised.

Last July I suffered a broken neck and as a result decided to stop driving my beloved 75 for the foreseeable future. The surgery was extensive and I was warned it would be ‘quite some time’ before I could be considered capable enough to resume normal activities.

I regained composure a lot later, on a ward, and the operating surgeon was remarkably chipper, not unlike a dog with two,er, tails.

I surrendered my licence, cancelled the insurance and AA and didn’t renew the MOT. The road tax got cancelled as well. Then, and only then, I actually got my first free bus pass. Oh, what a mixed blessing. So it’s now been 8 months without buying fuel. At last, a plus side.

Add the fuel saving to the insurance etc/etc and it must come to close to around £1000. Substitute two taxis a week to the shops coming to around £150 leaves about £850 to the good. Of course, the loss of Rover amenities, it’s just sitting there – glaring at me, is immeasurable. Intervening reports from various medics are encouraging and hope springs eternal so I’m looking forward to late summer and a new dawn.

It’s a bit of a mixed blessing to tell the truth. Right from my childhood I’ve wanted (and dreamed of) a brass plate with my name on it. Now, I’ve got three of them in the back of my neck and halfway down my back with nineteen left-handed screws and, oh, a scar to end all competition and bragging rights and I can’t even see any of them. It’s an ill wind.....

[wullie480]

My local station increased 10p over night on both diesel and unleaded. I was £105 to brim the car a few days ago.


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