Fuel up/down again

[TW]Fox · 26 Jun 2012 at 18:42

silversurfer said:
Different stock dates on the fuel I guess. I guess they dont drop the price on petrol till a new tanker comes in

They actually dont drop the price unless they have a local Asda, they just make sure they are the cheapest in the local area.

Oil is flat this week so far

Not really, it's slowly edging up on the low reached on Friday because there is a strike in Norway so the market speculators are going crazy - up over $1 so far today.

[TW]Fox · 26 Jun 2012 at 19:59

Minstadave said:
No duty hike in August too by the looks of it:

http://www.bbc.co.uk/news/uk-politics-18588855

What do you think we've been discussing for the last half a page?!

[TW]Fox · 26 Jun 2012 at 20:37

LiE said:
Vpower down to 138.9 which is good!

Is it me or has the gap between Vpower and unleaded grown of late?

[TW]Fox · 26 Jun 2012 at 20:54

Minstadave said:
Always been 8p hasn't it? At least for the last year or so.

It was once 5p, then 7p, last month I paid 10p more than regular unleaded price for it.

[TW]Fox · 27 Jun 2012 at 08:08

Tesla said:
Does V-Power yield better economy in the 530i? I have just been using normal 95RON stuff

The M54 engine is designed for 98 RON fuel - as the manual explains. If you run 95 you get slightly reduced power and economy from the engine.

Personally I mostly use Sainsburys Super Unleaded - though tis 97 - mostly for convenience sake (Shell is 10 miles outside of town).

[TW]Fox · 29 Jun 2012 at 16:25

I think its now as low as its going to get - apparently because todays European Summit acheived yet more bailouts that means that everyone has loads of money again and can afford to buy lots of oil, so oil is currently trading up $4 on the day - biggest daily rise for quite some time. Market speculation ftw!

Edit: Up a staggering 7% in a single day now :eek:

Obviously the oil speculators reckon Europe is now fixed and we'll all be swimming in cash to buy more oil

[TW]Fox · 13 Jul 2012 at 21:28

And back up it goes, 126.9 from 125.9.

Thanks for that, oil speculators.

[TW]Fox · 13 Jul 2012 at 22:19

He lives in the Channel Islands.

[TW]Fox · 19 Jul 2012 at 08:15

We must pay more for oil because demand in the US for it is getting so low that the markets are convinced the US Fed Reserve will do another round of QE, which might increase demand, therefore buy buy buy so you can make a profit on selling the paper contracts in a months time

Welcome to the oil market, where supply and demand works in reverse. It jumps every time we get another round of negative data based on this 'lol its so bad they'll have to intervene' sentiment..

And the odd thing about the latest rise is that actually we stopped getting price falls once oil hit 100-103 anyway, so we didnt benefit from the fact it went as low as $90, so its interesting that this is beginning to be used as an excuse for increases?

[TW]Fox · 19 Jul 2012 at 08:25

wez130 said:
Good god, count yourself lucky, £60 only just half fills my tank

rofl, did you really just say that? You realise he pays the same for his fuel as you do, you can just carry more of it, right?

[TW]Fox · 19 Jul 2012 at 12:00

Heading towards $110 now...

...all based on what perhaps maybe could ought possibly might happen.

[TW]Fox · 16 Aug 2012 at 22:15

DJMK4 said:
Has anyone noticed the pumps starting to climb again ?

Of course they are - infact oil is now pretty much back to where it was before the falls started happening so there is more to come, too. The price drop was good whilst it lasted but was never going to last because we have a speculation fueled oil market where the price paid for oil is not based on supply and demand its based on traders views of things that might perhaps possibly maybe affect supply or demand perhaps.

[TW]Fox · 16 Aug 2012 at 23:30

silversurfer said:
I agree the price movements are unnatural but traders forcing prices up is a fallacy

Surely the more people who buy futures contracts the higher the price goes? It is supply and demand - but its demand for paper futures contracts for the purposes of speculative resale not demand for the actual physical oil.

Pretty much everything is being interpreted as a buy signal right now. Economic data good? BUY! Economic data bad? Well maybe it'll get good, so BUY!

[TW]Fox · 17 Aug 2012 at 12:13

silversurfer said:
OPEC generally has a target of 100 a barrel now because the dollar is worth less to them. The price is highest for thirty years but the value is lower alledgely

This is true but the latest rally is not OPEC supply driven (Well, unless you count the Iranian thing but thats not a new factor and was present when we hit $89 a month or so back).

It's purely speculation on things like QE and what might happen, not fundamentals driven.

I wonder what the oil price would be if there was a requirement to take physical delivey of any crude futures you purchased, limiting involvement in the crude market to only people who actually.. want crude.

[TW]Fox · 9 Sep 2012 at 22:16

So oil is still more than $10 below the peaks since 4-5 months ago yet fuel is yet again touching record highs. Interesting.

[TW]Fox · 9 Sep 2012 at 22:24

Exactly the same - $1.60 to £1 in March, $1.60 to £1 now.

For info only: €1.50 diesel €1.50 unleaded in Austria, similar in Hungary

[TW]Fox · 11 Sep 2012 at 19:14

Ivyforce said:
The investigation is also focusing on why at certain times oil majors and supermarkets can sell fuel below what some independent sites even buy it in for.

Excellent, so it might even result in higher prices for everyone.

[TW]Fox · 11 Sep 2012 at 21:16

Princey said:
Infact I remember a thread several years back were people were asked what price would cause them to hang up their keys. £1.50ppl was the most common answer including Fox's.

I don't beleive I ever said I'd give up driving if fuel was £1.50 a litre. I simply don't rely on my car enough for that to be the case.

[TW]Fox · 11 Sep 2012 at 22:28

Princey said:
This was several years back, when fuel first tipped £1. I'll see what I can find.

Please do.

[TW]Fox · 11 Sep 2012 at 22:32

Princey said:
No but the fact I've drastically changed my driving habits. So it's obviously too expensive to do what I want to do with my cars.

You can afford a 600bhp car - this is about the time where you realise how daft you sound complaining that motoring is too expensive these days.

If this was 1985 you'd not be able to afford anything like what you have now.

Fuel is just one aspect of owning a car. It's particularly expensive, actually, I agree, but its ONE part of owning a car. And most of the rest of the parts of owning a car are actually very cheap for us here in the UK - especially compared to elsewhere in the world. Trying buying a decent car in Australia or taxing a decent car in Belgium...