[News] Petrol and diesel £2 per litre by the end of the year?

[RandyWanger]

All I keep hearing is 'record profits' in the energy sector. Corporate greed.

 

[Neville's Breakfast]

All I keep hearing is 'record profits' in the energy sector. Corporate greed.

From refinery margins and owning supply rather than petrol retail.

 

[Igzilla]

What the betting that the hikes in the prices of goods on the shelves due to all of this won't go back down, as the cost of fuel does?

 

[severnside gull]

Diesel 205p per litre in Cornwall yesterday.
Is it the end of the year yet?

 

[beorhthelm]

What the betting that the hikes in the prices of goods on the shelves due to all of this won't go back down, as the cost of fuel does?

supermarkets are pretty competitive and will cut prices where they can. depends a lot on input costs, commodities will fall but wages and services tend not to, so those cost stay. reckon own brand will soften, more likely see prices hold for a while.

 

[Official Old Man]

I've noticed on my drive between Uckfield and Brighton that only one station, BP in Lewes, went over the £199.9 mark for diesel. Petrol on the other hand kept creeping up by 2 or 3 pence weekly. Is that £2 mark something they wont go over as it looks bad on the signage at the entrance, but at the same time knowing we will still pay whatever they charge us under that £2 mark.

 

[Igzilla]

supermarkets are pretty competitive and will cut prices where they can. depends a lot on input costs, commodities will fall but wages and services tend not to, so those cost stay. reckon own brand will soften, more likely see prices hold for a while.

The company I work for has pushed through a slew of CPI's on the goods we produce, and there's more to come too. All of them have been in the +20%-30% range. In the years I've worked there, I've never known a reduction. Whilst the supermarkets may want to be competitive, they will always have to push back against suppliers. As we saw with Heinz v Tesco, they are not always successful. With own brand stuff, we saw quite a few own brand products disappear from the shelves as their availablity and reliability of supply diminished due to covid, material shortages etc etc. Once they've gone, it's not so easy to turn the taps back on.