Energy Prices (Strictly NO referrals!)

Freddie1980 said:
Can anyone explain to me why petrol and diesel prices are so high despite the price of crude oil being well of any record high (less then $110 a barrel) and the government handing down a 5p per litre tax cut? Is it just greed or am I missing something?
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The value of the pound makes oil more expensive today than it was when the oil price was higher in $$$. (Did you see this posted on facebook or something? I see lots of people saying about oil prices and greed with no idea of the context.)

While the price of Brent crude oil—the global benchmark for crude oil prices— is currently lower than it was in 2008 in US dollars, in pounds the price of crude oil is actually higher than it was in 2008.
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This is because the pound has weakened significantly against the dollar since June 2008, which effectively makes each barrel of crude oil more expensive in pounds now than 14 years ago.
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5p duty cut is ridiculous, it was never going to do anything. With the recent increases the govt is raking in more cash via VAT, its a smokescreen to look like they are doing something. Also oil price is not everything, it has to be refined and there is only limited capacity which has pushed the price up further.
 
BoE is so screwed.
Even as a home owner I feel they need to increase rates. Right now the weakness of the pound is probably doing similar damage in terms of raising household costs as an increased rate rise.

Obviously this isn't the case for FTBers where mortgage values are through the roof. But as time goes on you'd hope people are fixing long term so future rate hikes will hurt fewer and fewer people.
 
413x said:
BoE is so screwed.
Even as a home owner I feel they need to increase rates. Right now the weakness of the pound is probably doing similar damage in terms of raising household costs as an increased rate rise.

Obviously this isn't the case for FTBers where mortgage values are through the roof. But as time goes on you'd hope people are fixing long term so future rate hikes will hurt fewer and fewer people.
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There is also business loans and other types of consumer debt? Screwed either way sadly. Rate rises probably defers the pain until later though (at least for home owners, private renters not so sure, given how quick my LL was to hit me with a massive rise), as a weaker pound will show impact earlier.
 
chrcoluk said:
There is also business loans and other types of consumer debt? Screwed either way sadly. Rate rises probably defers the pain until later though (at least for home owners, private renters not so sure, given how quick my LL was to hit me with a massive rise), as a weaker pound will show impact earlier.
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Yes. Be a lot of unsecured debt and I'm sure numerous other scenarios I just don't know about.

Screwed either way.

A friend is looking for rentals. Right now. They are so much more from 2 years ago. And demand is insane.


More people are paying 6 months up front to secure
 
Mine has all reconnected (SMETS1) at last. I do have a weird issue where it will only submit a reading if I restart the in home display. Does that seem odd to anyone.
 
arknor said:
the pound:gbp is about the same as 2016 how much was petrol then
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Crude was £36(jan)-£50(dec) a barrel in 2016

Brent Oil Chart - Brent Crude Price Chart

Brent Oil Chart live - See the latest live brent oil price chart with news, quotes, pivot points and related data for crude oil
www.livecharts.co.uk

According to the RAC petrol was on average

UK pump prices over time

This chart tracks the changes in petrol and diesel prices over time (weekly on a Monday, rolling ten year period) and is based on BEIS data published each Tuesd
www.racfoundation.org www.racfoundation.org
£1.02 litre (jan)
£1.17 litre (dec)
 
SpeedFreak said:
Mine has all reconnected (SMETS1) at last. I do have a weird issue where it will only submit a reading if I restart the in home display. Does that seem odd to anyone.
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Define submit a reading? As the IHD has nothing to do with submitting readings so im a bit confused
 
413x said:
Yes. Be a lot of unsecured debt and I'm sure numerous other scenarios I just don't know about.

Screwed either way.

A friend is looking for rentals. Right now. They are so much more from 2 years ago. And demand is insane.


More people are paying 6 months up front to secure
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:/
 
EonNext fixed prices went up this morning. Due to another recent spike in wholesale costs and forcasts that Oct price cap will be £2980 and Jan 23 at £3003.
 
cornwall insights company, who martin lewis worships, just throw out these cap projections without disclosing any working out/assumptions ...
what changed ? projections of winter weather, gas that norway will (not) give us, LNG terminal out of action

April (left) June (right)

52165111604_f7af9fede5_o_d.jpg

(
 
Surveyor said:
Yet @Energize thinks the government are pushing up RPI to increase the interest on student loans when that interest will never be paid by the vast majority.
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You start paying back student loans at £27k, that's not the top 1% lol. It doesn't matter if not all students pay off the loan, many students do and they will feel be paying that interest back.
 
jpaul said:
cornwall insights company, who martin lewis worships, just throw out these cap projections without disclosing any working out/assumptions ...
what changed ? projections of winter weather, gas that norway will (not) give us, LNG terminal out of action

April (left) June (right)

52165111604_f7af9fede5_o_d.jpg

(
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It won't be coming down anytime soon
 
Always expected a 3k figure. It's not going down anytime soon. Sub 3k was always optimistic and would have needed positive news from russia-ukraine
 
Simple idea - scrap VAT on fuel and slap it on cigs.

It’s up to the individual to continue to smoke. Or young adults (check IDs bad born early 2000s) want to start smoking
 
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