cheaper petrol

[robert.saunders]

and there was me filling up yesterday at 112.9

 

[G.O'Rilla]

Hmmmm fuel prices....... In addition to the posts above let's not forget that the pump price of fuel is only related to the crude oil price, not necessarily dependent on it. A far bigger factor (ignoring the ursurious taxes and vat on the taxes) is the supply/demand situation in Europe especially Rotterdam, where a large amount of the blendstocks for our products originates in one way or the the other. If there is an arbitrage between Europe and US then the products go west to achieve better prices and this pushes up our prices as a result. You can have a dropping crude price and an increasing gasoline price. Have you noticed how the diesel price has edged toward the gasoline price? One reason could be because the summer gasoline season in US is in full swing and the other reason could be that the winter fuel stocking season for gasoil has not yet started. Other reasons apply........

Hope that helps

 

[KillerHERTZ]

My local Shell garage is selling diesel at 48 p per litre. It was 52p the other day.



It is in Pretoria!!!!!

Are they still offering free carjackings at the next set of lights fromt the garage?

 

[flango]

Financial & Investment Dictionary: Loss Leader

Concept, primarily in retailing, where an item is priced at a loss and widely advertised in order to draw trade into the store. The loss is considered a cost of promotion and is offset by the profits on other items sold.

I thought selling at below cost was now banned in the EU as anti competetive? I thought you could sell at cost and make no margin but were not allowed to use loss leaders anymore? This is certainly the case in Industrial sales but I am not sure if this applies to retail sales or not.

 

[kwakdonut]

I thought selling at below cost was now banned in the EU as anti competetive? I thought you could sell at cost and make no margin but were not allowed to use loss leaders anymore? This is certainly the case in Industrial sales but I am not sure if this applies to retail sales or not.

Am I the only one here is fed up to the back teeth of the bl00dy EU???

Christ, its only taken 7 years to get rid of that stupid directive about bent bananas......

.....and now they want to make learner motorcyclists be ACCOMPANIED when out the on the road!!

Apologies for the brief hijack......rant over

 

[flango]

Am I the only one here is fed up to the back teeth of the bl00dy EU???

Christ, its only taken 7 years to get rid of that stupid directive about bent bananas......

.....and now they want to make learner motorcyclists be ACCOMPANIED when out the on the road!!

Apologies for the brief hijack......rant over

You were right about your mood this morning

But no you are not alone I'm also too fed up of being part of this dictatorship

 

[BTB 500]

I thought selling at below cost was now banned in the EU as anti competetive? I thought you could sell at cost and make no margin but were not allowed to use loss leaders anymore? This is certainly the case in Industrial sales but I am not sure if this applies to retail sales or not.

I don't think it applies to retail. One of the big chains was recently selling items for a penny or something daft to celebrate some anniversary.

 

[C240Sport97]

I thought selling at below cost was now banned in the EU as anti competetive? I thought you could sell at cost and make no margin but were not allowed to use loss leaders anymore? This is certainly the case in Industrial sales but I am not sure if this applies to retail sales or not.

you are thinking of anti dumping legislation.

this is to prevent foreign producers 'dumping' (selling below cost) their products in the EU ..

others call this protectionism

similar legislation in the US

 

[Dryce]

this is to prevent foreign producers 'dumping' (selling below cost) their products in the EU ..

others call this protectionism

Given that dumping in this manner is anti-competitive then how can barring it be called protectionism?

 

[kwakdonut]

You were right about your mood this morning

But no you are not alone I'm also too fed up of being part of this dictatorship

That little rant did make me feel better though!

 

[flango]

you are thinking of anti dumping legislation.

this is to prevent foreign producers 'dumping' (selling below cost) their products in the EU ..

others call this protectionism

similar legislation in the US

Anti dumping leislation is something totally different, you can be accused of dumping if you are selling large volumes into a market at significantly below the average market value, it doesn't have to be at cost or at a loss.

Loss leaders and bundling of products as far as I am aware is not allowed under EU B2B sales, however as Bill points out it would appear to be not the case in retail sales.

 

[Dryce]

Loss leaders and bundling of products as far as I am aware is not allowed under EU B2B sales, however as Bill points out it would appear to be not the case in retail sales.

I would suggest that this might be a worthy principle but in complex B2B interactions it's simply unenforceable.

 

[flango]

I would suggest that this might be a worthy principle but in complex B2B interactions it's simply unenforceable.

It's totally enforceable I have been involved in 2 anti dumping cases which were proven. If the offence is very severe it can lead to the company involved being banned from trading in the country of the offence. Penalties are very severe. Its easy to prove in export markets as there are always Import records for the country with declared values for the cargo.

 

[Dryce]

Its easy to prove in export markets as there are always Import records for the country with declared values for the cargo.

That's fine where there are goods/commodities being transacted.

But a huge % of B2B are services based or have a major services component in the transaction.

 

[flango]

That's fine where there are goods/commodities being transacted.

But a huge % of B2B are services based or have a major services component in the transaction.

Fair point, I don't know if anti dumping legislation applies to services as I only deal with commodities. Will have to check that one out as you are right on the face of it I dont see how you could enforce it.

 

[oldcro]

Am I the only one here is fed up to the back teeth of the bl00dy EU???

Christ, its only taken 7 years to get rid of that stupid directive about bent bananas......

.

There never was an EU directive on bent bananas. It was a story made up by bored journalists according to a certain TV programme.

 

[kwakdonut]

There never was an EU directive on bent bananas. It was a story made up by bored journalists according to a certain TV programme.

What programme was that? Loose Women?? lol.....

 

[hawk20]

Didn't before, won't now.

Did the price hit 70 odd pence when oil was $46 or so?

Petrol prices have fairly closely tracked the world oil price if you allow for increases in the huge chunk which is tax and changes in the value of sterling. Remember the pound not so long ago used to be worth $2. Not now, and oil is priced in dollars. Very competitive market with lots of suppliers.

 

[hawk20]

Anti dumping leislation is something totally different, you can be accused of dumping if you are selling large volumes into a market at significantly below the average market value, it doesn't have to be at cost or at a loss.

.

That is not true or China would be permanently in court. Dumping involves selling goods or services at a loss.

Loads of firms sell goods at below the average market value and still make a profit. Cheaper brands do it all the time.

 

[Baron_Samedi]

So following your logic, oil at ~$70 equals £1 per litre at the pumps

Then oil at $140 equals £1.25 per litre (last August).

Something way more whack than a 40 cent adjustment in the exchange rate causes that, my friend...