What's going to happen to crude oil

"On hearing of rock bottom oil prices UK petrol stations announced a price rise of 6p per litre".

Not a news story yet but give it a few days :rolleyes:
I saw summat here that said they were looking forward to the $1 gallon again...................now that everyone has been told to stay home.
 
I saw summat here that said they were looking forward to the $1 gallon again...................now that everyone has been told to stay home.
That may well be true. However, the mentality at UK pumps appears to be:
We're selling loads, raise the price to make money while we can
We're not selling much, raise the price so we get the most out of each customer
 
'Stale' only if not in air-tight container - volatiles evaporate and water & hungry bacteria/enzymes absorbed

UK has small reserve capacity - thanks Green twats & Blair/Brown. USA has large and Trump announced they would top to brim during low price. China allegedly has large reserve capacity too and buying
Petrol will keep for about 12 months if stored in an airtight container in a cool place. If you add a stabiliser to the petrol it will keep for 12 months from the date the stabiliser is added, you also need to add stabiliser every 12 months after that.

Basically if you fill a few 5 gallon jerry cans they will keep for 12 months. If fuel is available keep it fresh by bunging it in the car and re-filling the jerry cans regularly.
 
That may well be true. However, the mentality at UK pumps appears to be:
We're selling loads, raise the price to make money while we can
We're not selling much, raise the price so we get the most out of each customer
Petrol and diesel has dropped 8p a litre in the last few weeks.
 
That may well be true. However, the mentality at UK pumps appears to be:
We're selling loads, raise the price to make money while we can
We're not selling much, raise the price so we get the most out of each customer
Oil companies dont make much profit selling petrol at petrol stations.
 
That may well be true. However, the mentality at UK pumps appears to be:
We're selling loads, raise the price to make money while we can
We're not selling much, raise the price so we get the most out of each customer
I remember.

The price here in the US moves up and down more or less instantly as the barrel price changes, much more equitable.
 

Yokel

LE
'Stale' only if not in air-tight container - volatiles evaporate and water & hungry bacteria/enzymes absorbed

UK has small reserve capacity - thanks Green twats & Blair/Brown. USA has large and Trump announced they would top to brim during low price. China allegedly has large reserve capacity too and buying
Before and during World War Two cavernous underground oil tanks at various naval bases. Those places still exist so why can they not be used as a buffer against interruptions to oil shipments such as mines in the Strait of Hormuz?

Or mines in the Suex Canal, or our own ports....

That may well be true. However, the mentality at UK pumps appears to be:
We're selling loads, raise the price to make money while we can
We're not selling much, raise the price so we get the most out of each customer
They seem to have missed Business 101.
 
I remember.

The price here in the US moves up and down more or less instantly as the barrel price changes, much more equitable.
The difference is the way that retail petrol is taxed in the UK. A fixed duty distorts the effects of wholesale price changes.
 
That may well be true. However, the mentality at UK pumps appears to be:
We're selling loads, raise the price to make money while we can
We're not selling much, raise the price so we get the most out of each customer
Feather and Rocket. It goes down like a feather, up like a rocket.
Chatting to the local gas station, they have been told not to accept any deliveries. Once it gets delivered they get billed, so with the price still falling they don't want it now. You take delivery at £1.00 per litre, supermarket then gets a delivery in 2 days at 98p, they can undercut you, you try to price match and your little margin takes a further hit.
The margin is so small on forecourt petrol.

A bit like drugs, the profit is upstream.

Interesting fact: Petrol gets cheaper in Winter. As they refine more oil to get heavy products (boiler/furnace oil etc) they end up with a surfeit of lighter products, e.g. Petroleum.
 
Slight aside:
Had the SNP won the last Independence referendum where would Scotland be now?

The published proposed budget for Scotland was designed around barrel price of $110 (as I recall) tonight the Brent Crude price is showing as less than $30.00 (BBC finance pages).
 
Petrol will keep for about 12 months if stored in an airtight container in a cool place. If you add a stabiliser to the petrol it will keep for 12 months from the date the stabiliser is added, you also need to add stabiliser every 12 months after that.

Basically if you fill a few 5 gallon jerry cans they will keep for 12 months. If fuel is available keep it fresh by bunging it in the car and re-filling the jerry cans regularly.
Diesel gets buggy after a few months if there's any contamination in the tank, and the mush produced can clog up filters. Treatments available but best to not let it start.
 

NSP

LE
It will float to the top?
I think the Arabs are after the 'merican frackers also.
They tried that in 2015 and the USG subsidised their frackers to keep them going. The US wants to break free of dependence on the carpet-headbutting types for energy security, at any cost.

Meanwhile, it thins out my work opportunities. I weathered the 2015 slump and got into the windfarm gig. I haven't done pipeline inspection since 2014. However, the virus is jerking a few knees and buggering the bomb-hunting on the windfarms up now - I was supposed to go back to Holland for another season of 4wks on/4 wks off on the 'Dweller this week. The old tub is still sat in its winter lay-up berth and there's no news of a mob' date.
 
Considering I have a 120L tank on my truck, I'm thankful the price has dropped down to $0.77L
 
The pound is now at it's lowest for 30 years, looks as if the money men are having at go
at the pound, no rhyme nor reason for it, as all countries are in the shit economically
There will be board rooms in America where ruthless gits will be working out how 'Merica can benefit from the current chaos. There will be equally ruthless and perhaps cleverer gits in Asia doing the same but also trying to second guess the 'Mericans. These people are responsible for the globalization paradigm that has resulted in where we are today. Ordinary working people didn't fly the feck off to Italy, China, Iran, South Korea - only the wealthy. What are they doing now - feck all when they are not running to their bolt holes....not a word, not an ounce of responsibility taken. And whom do you think will need to pick up the ball?.......and who do you think is going to tell you how far and for how long you need to run with the ball. Feck em, tell them to pick the fecking ball up themselves this time.
 

Oyibo

LE
The difference is the way that retail petrol is taxed in the UK. A fixed duty distorts the effects of wholesale price changes.
More like the price of petrol/diesel/etc is sold based on the price at which it was bought.

After the price crash of 2015 vast amounts of money were spent on storage in the hope that the price would go up. It did not. The result was that a crap load of oil (which had been bought at very high prices ~$110) sat around waiting for the price to go up. The price never got to that point again.

As far as taxes go, how many times do you want to tax oil? It get taxed for the upstream producers, taxed at refineries, and taxed at the pumps, and the end products such as plastics get taxed.

If I had a holier-than-thou bone left in my body I would be targeting the 'green' hypocrites. Greta's 'oh so green' iPhone made from plastics from the oil industry using minerals from seriously dodgy mines in Africa would be a place to start. Tax the f*ck out of veggie munching hypocrites who sit in tofu bars using their self-righteous Apple-Whatevers that use cobalt and coltan raped from africa, plastics that come from oil, and manufactured at slave labour prices in China (before they pretend they are made in Ireland).

And another thing...

*Wife coaxes me away from the computer, saying "There, there."*
 
There will be board rooms in America where ruthless gits will be working out how 'Merica can benefit from the current chaos. There will be equally ruthless and perhaps cleverer gits in Asia doing the same but also trying to second guess the 'Mericans. These people are responsible for the globalization paradigm that has resulted in where we are today. Ordinary working people didn't fly the feck off to Italy, China, Iran, South Korea - only the wealthy. What are they doing now - feck all when they are not running to their bolt holes....not a word, not an ounce of responsibility taken. And whom do you think will need to pick up the ball?.......and who do you think is going to tell you how far and for how long you need to run with the ball. Feck em, tell them to pick the fecking ball up themselves this time.
You're a Socialist Worker on the sly, aren't you?
 
Diesel gets buggy after a few months if there's any contamination in the tank, and the mush produced can clog up filters. Treatments available but best to not let it start.
Way back when.........one of the SSM's at the local Trog unit told us to put a bit of petrol in with the diesel just to keep it more liquidy.......there is a posh scientific word for it, but I can't be arrsed to think of it.
 

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