fuel prices again

[peterg1965]

The next Tax 'hit' will undoubtedly the Higher Rate Tax Relief on Pension contributions. I suspect the socialists have this high on their list of priorities to give a poke in the eye to the decadant Middle Classes. I wonder if they would have the b****s to do it. With more and more normal occupations having been dragged into the 40% band it would certainly guarantee them a trip to oblivion at the next election!

 

[yachtman]

Presumably where you have company car or car allownce....

Having neither, the max tax free allowance is 40p per mile.....does not cover cost of fuel, depreciation, servicing etc and has not gone up for years...talk about fiscal drag!

i beleve community nurses & midwifes are particularly suffering with this.

 

[Howard]

For the last three or four months we have had huge super tankers anchored in Lyme Bay\Tor Bay These vessels are fully laden and waiting for the oil price to improve, nothing to do with Gordon Bor our tax system.

There are usually a minimum of ten of these large tankers but it is usually more. I dreda to think of the money involved and the losses they must be incurring as I am guessing that the price of oil has dropped significantly over these last three months and a tanker that is parked up, fully laden isd not earning, not only is it not earning but the price of its cargo is devaluing.

We last saw this way back in the 1980's but that was in reverse. Fuel prices were increasing and these super tankers would park up for a few weeks just to let the value of its cargo go up.

Now I believe there is too much crude oil on the market and these tankers are here because the companies are trying to restrict the quantity of oil being bought into the country

In other words I am back to my soap box where I have always dismissed the end of the world nut cases that have suggested we are running out of this commodity.

Here we go John ...

http://www.ybw.com/auto/newsdesk/20090308125017ymnews.html

 

[glojo]

Here we go John ...

http://www.ybw.com/auto/newsdesk/20090308125017ymnews.html

Thanks Howard and that confirms what I told my son months ago when they first appeared

I dread to think how much that fuel has lost in value during this period, and how much is each tanker loosing by being stationary for months on end.

The crews must be bored to tears just being anchored off shore for months on end

 

[kwakdonut]

The next Tax 'hit' will undoubtedly the Higher Rate Tax Relief on Pension contributions. I suspect the socialists have this high on their list of priorities to give a poke in the eye to the decadant Middle Classes. I wonder if they would have the b****s to do it. With more and more normal occupations having been dragged into the 40% band it would certainly guarantee them a trip to oblivion at the next election![/QUOTE]

I believe that they already have - unfortunately, no-one else would be able to do anything better at this time.

Maybe we should all form a MB Party and stand at the next election!

 

[BTB 500]

how much is each tanker loosing by being stationary for months on end.

USD 50k per day is a ballpark cost for having a tanker doing nothing (delayed at port waiting for cargo load/discharge etc.).

 

[glojo]

USD 50k per day is a ballpark cost for having a tanker doing nothing (delayed at port waiting for cargo load/discharge etc.).

Crikey and then the devaluation of its cargo!

In four months how much has fuel depreciated?

 

[BTB 500]

In four months how much has fuel depreciated?

In January a typical European open market price for unleaded gasoline (Rotterdam barge market, spot, mean) was about 380 USD/tonne. It's about 480 now, although obviously the price fluctuates daily.

 

[glojo]

In January a typical European open market price for unleaded gasoline (Rotterdam barge market, spot, mean) was about 380 USD/tonne. It's about 480 now, although obviously the price fluctuates daily.

Crikey.. I keep forgetting we are in April already... I dread to think how long those tankers have been there.. I said three or four months but it is clearly longer than that.

How time flies when you are not enjoying yourself

 

[x332race]

The problem is that the fuel in some of the tankers was probably purchased at last years inflated prices so they probably cannot afford to offload at moment as they would make a whopping loss on the cargo!

 

[glojo]

The problem is that the fuel in some of the tankers was probably purchased at last years inflated prices so they probably cannot afford to offload at moment as they would make a whopping loss on the cargo!

I am positive you are right

 

[Dieselman]

The cargo would have had to be purchased prior to last December to be worth less than now, which is unlikely.

The tanker companies are trying to starve supply to drive the price up so they make more profit on their loads, it's how they make their money.

If the journey from the Middle east takes say 1 month the oil would have been cheaper than now.
Since Christmas the price has risen from $36 bbl to $50 bbl, peaking at $53 a few days ago.

http://www.thefinancials.com/charts/i007053v.PDF

 

[glojo]

The cargo would have had to be purchased prior to last December to be worth less than now, which is unlikely.

The tanker companies are trying to starve supply to drive the price up so they make more profit on their loads, it's how they make their money.

If the journey from the Middle east takes say 1 month the oil would have been cheaper than now.
Since Christmas the price has risen from $36 bbl to $50 bbl, peaking at $53 a few days ago.

http://www.thefinancials.com/charts/i007053v.PDF

I think it very, very likely.. Thise tankers have been there for MONTHS and I am talking months. I have asked my wife and she has confirmed it was way before Christmas

 

[glojo]

Rather than rely on my dopey memory........

"This was the case in the mid 90s when we always had a handful out there. They started coming back for the first time at the end of last summer and on average we have had about six or seven there at a time ever since.

I remember saying how I thought this was crazy and they must be loosing a fortune being anchored out there.

It looks like this issue is trying to be played down and the official line is that 'some' of these tankers are not fully laden

They are right, we do sometimes see the odd one or two tankers that come in and are either in ballast or partially laden, BUT...... Ther huge majority are fully laden.

If their anchor cables break during a strong easterly gale then they will be on the rocks before anyone can say, "Super calyfragilistic ishby alydoshus" Or.... "We're doomed, doomed I say, doomed!"

 

[Dieselman]

If the tankers are holding oil bought at rates higher than todays price then I'd say they are in trouble as the price of oil is forcast to rise to 'only' $59 bbl this year.


Damn..why didn't I buy at $37 bbl......

 

[KillerHERTZ]

According to this weeks Autoexpress, 71% of the forecourt price is Duty + VAT, disgusting.

 

[glojo]

If the tankers are holding oil bought at rates higher than todays price then I'd say they are in trouble as the price of oil is forcast to rise to 'only' $59 bbl this year.


Damn..why didn't I buy at $37 bbl......

All of a sudden it is ecoming news that these ships are here but this is more like history as opposed to news

 

[Dieselman]

According to this weeks Autoexpress, 71% of the forecourt price is Duty + VAT, disgusting.

It used to be 80% some years ago..

I guess you want the cost of crude to skyrocket then, to reduce the percentage..

 

[Dieselman]

All of a sudden it is ecoming news that these ships are here

True. I think it's because there is a record number at anchor.