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Another enquiry telling us what we already knew

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So the CMA have come to the conclusion that we’ve been paying more for our fuel than we should have been, No sh1t Sherlock.

Asda increased their profit margin threefold since 2019, weren’t they bought by the largest fuel forecourt company in the UK ?

Weak competition added 6p to supermarket fuel prices Weak competition added 6p to supermarket fuel prices
 
Greedflation.

More importantly, have you seen the prices of beer and wine in local shops?

Or the prices of new cars?

Despite the nonsense about “an App would solve this,” people still buy without looking at the price.
 
Definitely greedflation , I buy in wood for my wood burner in the winter ( please don’t go off on environmental rants). When heating oil prices go up the cost of the wood goes up…..how else can that be explained!
 
D2028 said:
Definitely greedflation , I buy in wood for my wood burner in the winter ( please don’t go off on environmental rants). When heating oil prices go up the cost of the wood goes up…..how else can that be explained!
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That is very easy to answer. It is called supply and demand; sets the price of most things. Demand goes up when oil goes up in price because people substitute oil CH with logs for the log burner - and hence the log sellers can charge more.
 
The strategists and economists believe that we have the solution in our own hands, while Guardianistas rant on, as usual.

It's real enough, but how long will it go on?

What should we do about greedflation?
 
MikeInWimbledon said:
The strategists and economists believe that we have the solution in our own hands, while Guardianistas rant on, as usual.

It's real enough, but how long will it go on?

What should we do about greedflation?
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Agree with everything in that article except, perhaps, its conclusion.

Increasing interest rates is an effective method of reducing demand-led inflation. But that's not what we have here. As long as corporations can get away with greedflation and while consumers continue to be punished for continuing to buy necessities, there is no incentive for corporations to reduce their margin. By being the first to do so they will fear starting a price war at the same time as their employees are demanding higher wages in order to cover their enforced increased spending.

Without some intervention somewhere it just becomes a self-perpetuating vicious circle.
 
The governments intervention on petrol and diesel prices is a long way from price controls. What it amounts to is simply monitoring and possibly name and shame. That's done already by several web sites such as petrol prices.com and probably more efficiently than the government could do it.

The price for E10 in my area varies from 138.9 to 153.9 so of course I pay 138.9. What I want to know is which dummies are paying 153.9. Someone must be or they would go out of business. It's not rocket science, given the information you buy fuel at lowest price in your area that is reasonably convenient. The only conclusion to draw is that the persistence of greedflation is customers not caring how much they pay for fuel.

I believe that persistence of inflation is down to too much money about for people to care what they spend. The government showered an excessive amount of money on us during lock down and some people are still spending it.

I think the Guardian article has it about right. There is not much that can be done in the way of intervention, we just need to let the market correct itself and hope that consumers make the right choices . On the other hand, perhaps there is one intervention that might help and that is to ban the media from reporting anything to do with price increases.
 
jdrrco said:
Agree with everything in that article except, perhaps, its conclusion.

Increasing interest rates is an effective method of reducing demand-led inflation. But that's not what we have here. As long as corporations can get away with greedflation and while consumers continue to be punished for continuing to buy necessities, there is no incentive for corporations to reduce their margin. By being the first to do so they will fear starting a price war at the same time as their employees are demanding higher wages in order to cover their enforced increased spending.

Without some intervention somewhere it just becomes a self-perpetuating vicious circle.
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How does any force "intervene" to stop the public from spending £580 on a necessity like for two weekend tickets to stand in a field at Glastonbury? (Sold out in 30 minutes).

Or from spending £4.50 on a pint of beer - up 11% on 2022 prices?

Or £40k on an EV hatchback?
 
190 said:
The price for E10 in my area varies from 138.9 to 153.9 so of course I pay 138.9.
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Would it be unkind to suggest that you have the time to monitor prices?

Or that the Plumber in his van, is in a hurry and is less price sensitive, because his time is money?

(Personally, I always buy from what I think is the cheapest, reliable Supermarket station, but I don't really bother to keep tabs on whether it is, or whether I should buy on Tuesdays because they're cheaper than Weekends....)
 
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In an effort to combat greedflation I quite liked the idea of everyone boycotting certain companies like Shell or Heinz but I’m afraid we’re far too far down the line of looking after oneself for that plan to work. Shame because it may well have worked
 
MikeInWimbledon said:
How does any force "intervene" to stop the public from spending £580 on a necessity like for two weekend tickets to stand in a field at Glastonbury? (Sold out in 30 minutes).

Or from spending £4.50 on a pint of beer - up 11% on 2022 prices?

Or £40k on an EV hatchback?
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Or stop the UK public exporting money to the US every day just by choosing to buy everything on Amazon or ebay or McDs or uber taxis or Airbnb........ggggrrrrr
 
Dippo said:
I think you'll find most of them are claiming it on expenses.
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Methinks a lot of them are there because they’re buying food from M&S, Greggs, Costa or whatever

And that laydies and busyness people have other things on their minds than the pump price.

Pause to remember motorway service area fuel prices which always seem breathtaking.

BP admits that it’s gets big margins on its M&S joint venture sites, and is rolling that concept out in most major economies because they will double EBITDA. It’s a shocker to see these in France, home of the retail customer service “we do not care” concept.
 
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optimusprime said:
Every shop keepwer and seller in England is getting fat through this lot, not only fuel .
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Time to open a shop, then?

In my "village" they say it's £250k a year rent and rates to have a shop, before you fit out, hire the staff, pull in the stock and open the doors.
 
MikeInWimbledon said:
Time to open a shop, then?

In my "village" they say it's £250k a year rent and rates to have a shop, before you fit out, hire the staff, pull in the stock and open the doors.
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Similar here in Guildford, I think this is why we’re only really seeing the big chains survive on the high street, or coffee shops.
 
Harrythedog said:
In an effort to combat greedflation I quite liked the idea of everyone boycotting certain companies like Shell or Heinz but I’m afraid we’re far too far down the line of looking after oneself for that plan to work. Shame because it may well have worked
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That's basically what's called a recession. Everybody shuts their wallet because they don't want to keep spending leading to lay offs, leading to more belt tightening which eventually leads to lower prices.
 
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