Petrol price shocker

Discussion in 'The NAAFI Bar' started by vvaannmmaann, May 19, 2012.

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  1. Morrisions - Hastings yesterday.
    £132.9p per litre.
    I saw it mentioned a few weeks ago that prices woild come down by 5p a litre,but never believed it.Is this the start of a petrol price war? How low can you go?
  2. From past experience, a momentary fall to grab the headlines, pause......then onward and upward past the last highest point.
  3. I hadn't really noticed, but had noticed the difference between petrol and diesel was now less than 10p. I just didn't know which had moved.
  4. hasnt made a great deal of difference it still costs me more in monthly fuel bills than my mortgage electric and gas bills added together!!!
  5. Not so good as the story i just read in the Scum.Banks buying tanker loads of oil and keeping it off shore to cash in when the price goes up.Bar stewards.
    • Like Like x 1
  6. Always happens, it's the law of supply and demand. The ability to turn the tap on and off as you wish to.
  7. 132 jeez I need to go where you are, my locals average 138-140 and thats just petrol
  8. Get a bicycle.
  9. Wordsmith

    Wordsmith LE Book Reviewer

    If you want to keep a rough check as to what's going on:

    1) Go to page 230 on the Beeb's teletext - Markets. From the options select London Commodities. That'll give you the price of a barrel of oil in dollars. As of now Brent Crude is $92.12

    2) Go to page 240 on the Beeb's teletext - Foreign Exchange. From the options select Pound Rates. That'll give you the commercial exchange rates. Dollars (USD) are about $1.58/£1.

    3) Divide the oil barrel price by the exchange rate to get the price of the barrel in pounds. In this case its $92.12/1.58 = £58.30 a barrel. So now you can track the UK oil prices as they change with time. (Its not quite as simple as this, but it'll do as a rule of thumb).

    I think the price of a barrel of oil's fallen about 15% from its peak. My local petrol costs have fallen from £1.41 to £1.35. Take off the 3p a gallon the government recently stuck on and the price would have been £1.32. This is a drop of about 6.5%.

    We're being ripped off...

  10. We've always been ripped off and the govt will do F all about it except make a few sympathetic noises because the higher the price, the more revenue they get. Barstewards!
  11. i would but the police would take a dim view of me creating havoc on the M6 at rush hour !!
  12. Wordsmith

    Wordsmith LE Book Reviewer

    Stupid Barstewards to be more precise.

    They may gain higher income from petrol and diesel sold at the pumps. However, the great majority of goods are moved around the UK by road.

    Higher fuel prices = higher prices in the shops = higher inflation = lower growth.

    They're likely to lose more income from lower growth than they will gain from higher fuel prices.


    • Like Like x 1
  13. Get a motorbike, but don't do what I did - a 1400cc motorcycle isn't all that easy on fuel.
  14. Did you really need to do all that maths to come to that conclusion?
  15. 132.7p is the lowest here. Handy little website: Petrol Prices.

    I ride a 500cc Motorbike so don't actually notice the cost of fuel, it's probably about £20 - £30 a Month.