Fuel up/down again

Firestar_3x · 3 Feb 2011 at 11:19

Personally i hope oil keeps getting more expensive, means more and more projects will come back on-line and i will be swamped for work.

Jono8 · 3 Feb 2011 at 11:21

Janesy B said:
So they've increased output of a product that has become more valuable = more profit. What's the problem? Why does this annoy you when they charge the same amount as everyone else for unleaded?

It is just a sort of irrational association i suppose.

Fuel prices were about £1.26 after the fuel duty/VAT inrease a few weeks ago at my local shell garage. It is now £1.30. You then read that shell has doubled its profit, partly due to it selling it's oil at a higher cost (which ofcourse they are going to do, if they can. Fair enough).

I just can't help but feel a slight hatred towards them

I'm not saying they are doing anything wrong. They are a business and are out to make as much profit as they can. It doesnt stop it being hugely galling though.

[TW]Fox · 3 Feb 2011 at 12:01

Jono8 said:
It doesnt stop it being hugely galling though.

Whats hugely galling is the fact they are retailing a 45p a litre product and we are paying 130p for it.

Simon · 3 Feb 2011 at 14:09

Jono8 said:
From the BBC article:

"The oil giant Shell has reported profits almost doubled from $9.8bn to $18.6bn (£11.5bn) for 2010 partly thanks to rising oil prices and output."

BP lost $3 billion, should they put prices up?

Jono8 · 3 Feb 2011 at 14:15

Simon said:
BP lost $3 billion, should they put prices up?

To be fair, that was because of the Gulf oil spill...

ryanpetit · 3 Feb 2011 at 14:19

Simon said:
BP lost $3 billion, should they put prices up?

*ignore*

Firestar_3x · 3 Feb 2011 at 14:28

ryanpetit said:
Where as shell made $18.6 billion... http://www.bbc.co.uk/news/business-12355139

Confused

ryanpetit · 3 Feb 2011 at 14:30

Oops, didn't see that had already been posted.

*ignore*

Simon · 3 Feb 2011 at 14:32

Jono8 said:
To be fair, that was because of the Gulf oil spill...

So what, they still lost money.

Surely Shell should be putting prices down cause they made money, oh and tesco food should come down in price too.

Jono8 · 3 Feb 2011 at 14:33

Simon said:
So what, they still lost money.

Surely Shell should be putting prices down cause they made money, oh and tesco food should come down in price too.

What?

Simon · 3 Feb 2011 at 14:37

Companies aren't allowed to make money it seems.

The thing is that the oil price is market driven and tax is set by governments. Oil companies supply a demand that exists, they don't set prices

Firestar_3x · 3 Feb 2011 at 14:38

It's a complex subject Simon, it took me weeks to get my head around the concepts being put forward......

Simon · 3 Feb 2011 at 14:40

Firestar_3x said:
It's a complex subject Simon, it took me weeks to get my head around the concepts being put forward......

How about we all boycott a petrol station so they make no money?

Firestar_3x · 3 Feb 2011 at 14:42

Sounds like a plan with no drawbacks........

merlin · 3 Feb 2011 at 14:42

Most people have pensions and the growth on those pensions has to come from somewhere.

Guess what? When BP/Shell/CitiGroup etc etc etc make **** loads of cash - your pension pot gets a nice shot in the arm.

Similarly funny hearing the anti-smoking brigade waffle on about smoking when in fact probably 10% of their pension will be derrived from Tobacco manufacturers profits.

Megalol.

Firestar_3x · 3 Feb 2011 at 15:03

Catch 22, if you keep smoking you might not need a pension

merlin · 3 Feb 2011 at 15:08

Firestar_3x said:
Catch 22, if you keep smoking you might not need a pension

Way the country is going atm I'm expecting to retire somewhere around age 84.

Dutch Guy · 3 Feb 2011 at 15:29

I just get the feeling that oil companies slowly raise the price of petrol faster than the price of oil is rising.
Petrol prices are closing in on record highs but the oil price isn't close to reaching a record so what has caused the increse in price other than oil companies making more profit?

Janesy B · 3 Feb 2011 at 15:37

Dutch Guy said:
I just get the feeling that oil companies slowly raise the price of petrol faster than the price of oil is rising.
Petrol prices are closing in on record highs but the oil price isn't close to reaching a record so what has caused the increse in price other than oil companies making more profit?

Fuel duty!

Brent Crude has just hit over $100 a barrel for the first time too because of all the problems in Egypt, not sure what impact this is having atm.

Dutch Guy · 3 Feb 2011 at 15:41

Janesy B said:
Fuel duty!

Yes, but even so how much has the duty increased, not too much I think, certainly not enough to explain the current price.