Agreed its fallen 10% today but it had fallen 5% over the last week. In theory that should mean up to 10p per litre off last weeks pump prices but I have seen nothing except the fact they appear to have stopped going up.
Fuel price discussion thread (was ‘chaos’)
- Thread starter watercooledman
- Start date
Agreed its fallen 10% today but it had fallen 5% over the last week. In theory that should mean up to 10p per litre off last weeks pump prices but I have seen nothing except the fact they appear to have stopped going up.
GBP fall will have eaten most of that. But this latest move is bigger so should feed in.
Normally margin is in the pennies.
www.racfoundation.org
14p and 10p per litre at the moment for petrol and diesel.
Quick on the way up 'wholesale prices are up' and slow on the way down 'wholesale prices? what's that?'.
Remember also the table above doesn't show how the refiners are also taking increased margin on the wholesale price.
UK pump prices
The table below shows the latest average petrol and diesel pump prices for the UK and gives a breakdown of how the price is derived. The wholesale prices (as at
www.racfoundation.org
14p and 10p per litre at the moment for petrol and diesel.
Quick on the way up 'wholesale prices are up' and slow on the way down 'wholesale prices? what's that?'.
Remember also the table above doesn't show how the refiners are also taking increased margin on the wholesale price.
no it's ~10p listen to some facts V ... with covid 40% loss of forecourt volume, and many forecourts make more money from the shop(alcohol/cigarettes),
so demonizing forecourts is erroneous
I think RAC are just trying to drum up business with a lot of their white knight rhetoric in the press.
Deleted User 298457
Deleted User 298457
The price is set to whatever the market can bear. It is not 'cost plus margin'.
Retailers costs have also risen, they don't exist as a public service. Personally think you are trying to demonise the wrong part of the chain.Normally margin is in the pennies.
UK pump prices
The table below shows the latest average petrol and diesel pump prices for the UK and gives a breakdown of how the price is derived. The wholesale prices (as at
14p and 10p per litre at the moment for petrol and diesel.
Quick on the way up 'wholesale prices are up' and slow on the way down 'wholesale prices? what's that?'.
Remember also the table above doesn't show how the refiners are also taking increased margin on the wholesale price.
Deleted User 298457
Deleted User 298457
Who said it was?
There was a reference to wholesale up /down but retailer margin used.Who said it was?
That's already accounted for in delivery and distribution. The remaining retailer costs would therefore be rent and salaries which hasn't shot up overnight. Retail margins across most markets are in the low single digit percentages where competition is acting appropriately.
I agree. Of course it is what the market can bear, otherwise they wouldn't be doing it. In the past there was simply no force coordinating an action to increase margins. I suspect margins will only increase as oil prices go down. Unless supermarkets go against the flow, there is no real reason to decrease them.
Retailers sufferered a loss of revenue during covid # , as did many businesses (airlines being another victim in public focus) , so step increasing margins to make up for those losses doesn't seem inappropriate ... to be payed by those folks who suffered no revenue loss ?
( # paying for depreciating assets like pumps/premises & the need to invest in new ev infrastructure )
( # paying for depreciating assets like pumps/premises & the need to invest in new ev infrastructure )
Soldato
- Joined
- 16 Aug 2009
- Posts
- 8,101
Not here either sainsburys is still £1.90 for unleaded Morrisons is still slightly cheaper at £1.89 but I think it was 1.88 a week ago. Shell is £1.93. Diesel everywhere is £1.99 and has been for an age its like they don't want to cross that magic £2.00 a litre barrier
Well they are. Let's take a low average of 190p/litre.
10p out of 190p is 5.26%
14p out of 190p is 7.37%
Low single digit percentages so by your definition the market is acting appropriately.
Low single digit means around 3%, so this is double.
So no, it isn't appropriate. 7% by anyone's definition would also be high single digit.
Your idea of the correct margin would simply make fuel stations unprofitable.
You think prices are high because of retailer margin?
Don't forget all their running costs come out of that margin it isn't profit. Price is high because of refining and global speculation not retailers jacking up the prices. And tax of course.
No it wouldn't that is what retail has run on forever. 3% is actually quite high, but i didnt want to get into that debate as it isnt necessary.