Fuel price discussion thread (was ‘chaos’)

[TW]Fox said:
Then you'll run out - the price rises are not to do with the 'panic' from September. It's because of oil prices. If anything it's going to continue to rise.
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Wasn't aware of that one. So the oil price cunningly went up to match the panic buying markup? The bar-stewards.
 
MagicBoy said:
Wasn't aware of that one. So the oil price cunningly went up to match the panic buying markup? The bar-stewards.
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What?

It's happened at the same time. All of Europe is experiencing the same price inflation. Just look up the price of Oil over the last 2 months - $65ish at the end of August to $85ish this week..

It has no relationship to the shortages in late September early October.
 
So just look at a brand that doesn't do that - Asda is a great example as they generally price fuel very fairly and price lead in every location they sell from. You'll see a rise there, too - because the wholesale price of refined fuel has increased as a result of the increased raw material cost.

Basically, it's not coming down to where it was in early September any time soon. Or even at all in the near term.
 
It's definitely a worldwide thing - it's gone up here as well. It's around 30% more expensive than it was when the pandemic started. Same story in the US - I paid $1.90 / gallon in Texas a year or two ago and it's now around $3 / gallon.
 
Predictions for oil into 2022 is looking like it will continue with an upward trend, and UK fuel pricing looks like it will hit record levels also, some expect it to hit about £1.55-60 in early 2022.
 
Depends on how much OPEC are willing to open the taps. It was reported a while back that a trader somewhere had gone as far as hedging for $200/barrel oil.
 
Refining margins are high. Gasoline prices are also high, you need to look beyond oil price. Lots of refinaries are in turn around and maintaince, this combine with low airline demand means there also high demand for many of the crude oil products.
 
If prices keep heading the way they're going I may be forced to re-evaluate my commute wether I like it or not :o
 
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