Oil v Petrol prices

[Stat Brother]

Apparently oil is now $40 a barrel, compared to $140, earlier in the year.

Can anyone tell me what price petrol was the last time oil was at $40, I can't believe, for 1 minute, it was somewhere around 90p a litre.

 

[Tory Boy]

Apparently oil is now $40 a barrel, compared to $140, earlier in the year.

Can anyone tell me what price petrol was the last time oil was at $40, I can't believe, for 1 minute, it was somewhere around 90p a litre.

Diesel was 78.6p a litre. Jan 2004.

TB

 

[Beach Hut]

Apparently oil is now $40 a barrel, compared to $140, earlier in the year.

Can anyone tell me what price petrol was the last time oil was at $40, I can't believe, for 1 minute, it was somewhere around 90p a litre.

To be fair the petrol on sale now was purchased by the retailer a few months ago therefore the price charged is probably relevant.

 

[dougdeep]

The taxes have probably gone up 10 times since then too.

 

[clippedgull]

To be fair the petrol on sale now was purchased by the retailer a few months ago therefore the price charged is probably relevant.

Taking that assumption, why did the fuel prices rise immediately when the price of oil rocketed?

 

[Horney]

Sources in the industry tell me that retailers have been making a lot of money at the pumps in recent weeks...buying is usually conducted weekly ( fri nights/sat mornings ) and pump prices are always linked to distribution costs ( BP have the highest and this is reflected in their higher pump prices )
There are a lot of franchisees out there...particularly in the Shell group and they only make 1p a litre..their profit comes from other shop products. Therefore they can reduce the price of fuel ( to the minimum company guideline ) to get punters through the door.
Its the tax that clobbers us...and unless that changes, we will always pay artificially high prices in this country.

 

[Smythe]

Taking that assumption, why did the fuel prices rise immediately when the price of oil rocketed?

Price changes in the barrel of oil are not reflected at the pumps immediatly due to the large amounts of fuel already stored in refineries which was bought at a previous price and this can last several weeks. This should work both ways when price goes up or down......but im sure when the price goes up the oil companies are a lot quicker to raise the price at the pumps.
If the price of a barrel is still dropping now....we should see this reflected at the pumps in a few weeks........i wonder if we will

 

[Don Quixote]

when ever oil goes down they never bring petrol to the same level that it should be. It's just a way of scamming the people a little bit more.

 

[Smythe]

Sources in the industry tell me that retailers have been making a lot of money at the pumps in recent weeks...buying is usually conducted weekly ( fri nights/sat mornings ) and pump prices are always linked to distribution costs ( BP have the highest and this is reflected in their higher pump prices )
There are a lot of franchisees out there...particularly in the Shell group and they only make 1p a litre..their profit comes from other shop products. Therefore they can reduce the price of fuel ( to the minimum company guideline ) to get punters through the door.
Its the tax that clobbers us...and unless that changes, we will always pay artificially high prices in this country.

Thats the same with privatly owned service stations connected to Texaco.....hardly any profit on fuel, its all made in the shop and car washes.
I think duty on a liter of u/l is 52p now,plus VAT as well. Highest duty in Europe.........people in the US are now starting to moan about the price over there, but its still nowhere near us, was speaking to someone when i was there in November...they cant believe how much we pay here!!

 

[Herr Tubthumper]

To be fair the petrol on sale now was purchased by the retailer a few months ago therefore the price charged is probably relevant.

They always say this when challenged about keeping the pump price high....and I bet they will say this until the price of petrol is up again when they will say 'sorry but we just bought a load more petrol only yesterday'

Oh, and they dont make any money at the pumps either. I guess it's a labour of love.

Ggggggrrrrrrrrr.

 

[Stevie Boy]

the oil companies are quick enough to whack prices up fro fuel which they have already brought (still in the tanks) but when the prices drop they seem to take ages to pass on the reduction, they are greedy cnuts

 

[Smythe]

They are indeed....making bigger profits this year than any time since the early 70's. Hardly surprising when you look at the prices they been charging this year...........it seems everyone is suffering except the oil companies and other energy suppliers.....ripping people off.....the amount of money ive paid EDF this year is blody rediculous

 

[drew]

Sources in the industry tell me that retailers have been making a lot of money at the pumps in recent weeks...buying is usually conducted weekly ( fri nights/sat mornings ) and pump prices are always linked to distribution costs ( BP have the highest and this is reflected in their higher pump prices )
There are a lot of franchisees out there...particularly in the Shell group and they only make 1p a litre..their profit comes from other shop products. Therefore they can reduce the price of fuel ( to the minimum company guideline ) to get punters through the door.
Its the tax that clobbers us...and unless that changes, we will always pay artificially high prices in this country.

Trouble is, if you don't pay the tax on fuel, they will have to collect from you some other way.

 

[nail-Z]

Although prices at the pumps are still too high, you do need to factor in the weakness of the £ as it's shed 25% of it's value over recent months when compared with the US$.