Fuel up/down again

Muffin` said:
i thought oil prices had just rallied because of better than expected growth in the US, which may mean that this short lived

can someone confirm as I CBA to check

k thx
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No, they are plumbing several month depths at the moment.

I posted this in GD yesterday:

Some interesting facts for you about oil prices, exchange rates and petrol prices.

This time 12 months ago, a barrel of Brent crude was 5% more expensive than it is today. It's priced in dollars - this time 12 months ago though, Sterling was worth only 1.7% more than it is now against the dollar. Therefore, oil is no more expensive now than 12 months ago, adjusted for currency fluctuations.

Exactly 12 months ago, the average price across the UK of a litre of unleaded was 135.9p. Today, the average price is 141p a litre.

Interesting. I wonder where that extra 5p is going?
 
How nice of them to drop it a few pence. Sadly since I posted my calculations earlier Brent Crude has fallen further and I estimate it should now be 7-8p cheaper than the current average rather than the 5p before.
 
rossk26 said:
So who is this extra money going to? Surely there is enough competition out there for fuel providers to be fighting to give the cheapest fuel. So I can only assume this is the government not sharing the cheaper costs with us?
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The government have not increased fuel duty within the last 12 months so no, it isn't the government not sharing the cheaper costs with us. The government doesn't produce fuel. It does take an enormous amount off us through duty and VAT but these rates of these have not changed*

*Though they will in August :rolleyes:

shifty_uk said:
Excuse the silly question but why is the government absolutely incapable of lowering duty and tax on fuel? Is it greed or is there a genuine increased requirement for such a high taxation from this particular area?
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They are obviously not incapable of reducing duty on fuel - they did it last year infact, but it does rather confuse me why the correct answer to soaring energy costs in this years budget was to confirm a 4p increase in fuel costs as from August.
 
Draeger said:
Not sure how long they have been on there for but just noticed the next avalanche of 5p off a litre Tesco vouchers has hit fleabay again. ;)
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It's not worth the bother buying them off Ebay for 5p a litre, especially as Tesco generally seem to be 1-2p a litre more than the cheapest suppliers in the area anyway.
 
Lucero said:
Quite, that's why mutiple BMW dealers have failed to diagnose the problem that it's consistently had for 60k miles, yet, every time i run through 3 tank cycles of shell, the issues disappears, completely.

Of course, in your infinite wisdom and knowledge, I'll await your diagnosis. :)
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So why is nobody elses 530d broken when it runs on fuel from a supermarket?

Just more stories from Lucero.
 
Sainsbury’s said that prices of unleaded petrol and diesel will fall by 3 pence a litre at its 266 petrol stations across the country today.
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That would be good news if it didn't appear to be marketing guff.

Yesterday Sainsburys was 133.9p here. Today its fallen to 131.9p.

That doesn't seem like 3p to me. Does it to anyone else? :D
 
It'll go back up soon as it seems the oil price is up today on the 'expectation that perhaps we might maybe probably perhaps possibly' have more demand for oil soon. Gotta love how the price we pay is dictated not by the fundamentals of supply and demand but by a traders guess of what supply and demand might be in the future and whether he can make a profit by buying and selling the contract before the oil gets delivered :D
 
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