Fuel pricing - time to take that tough decision?

[clk320x]

Electricity is expensive at the moment isn't it?

Not sure - doesn't affect me, I think my home rate is still on a cheaper deal though till it expires...

Still cheaper than Diesel and enjoy it till they start taxing it as they do with everything here...

Anyway - no point diverting the thread...

Back to posts complaining about the price of fuel which you can't control please...

 

[Tonye]

Electric is fuel, and right on topic,. Time to take that tough decision. Was the heading. When the tax hits we will see.

 

[ChipChop]

Not sure - doesn't affect me, I think my home rate is still on a cheaper deal though till it expires...

Still cheaper than Diesel and enjoy it till they start taxing it as they do with everything here...

Anyway - no point diverting the thread...

Back to posts complaining about the price of fuel which you can't control please...

During the summer i will be running my old diesel Mercedes on vegetable oil so the price of pump diesel is moot. Although it seems new cooking oil prices (SVO) do rise when the price of pump diesel rises. Thankfully processed waste veg oil (WVO) usually stays around the 40-50p per litre mark come what may.

 

[MrGreedy]

Shell right next door to work was £1.89.9 for standard diesel on Friday.
This morning....





£175.9

A decrease!
Unexpected, but not unwelcome.

 

[Dryce]

Electric is fuel, and right on topic,.

Being pedantic (sorry!) Electricity isn't in itself 'fuel'.

However fuel may be used to generate electricity.

 

[Tonye]

However fuel may be used to generate electricity.

At what cost to make the change to EV. To early for me to ditch my R129, let's see where the markets head in the future.

 

[OneForTheRoad]

Diesel at Tesco's near me £1.55 so I stuck £100 in. This e350 is the right car for me.

 

[OneForTheRoad]

my e63s was running on steam so filled up fully at local Esso. £1.819 for 99 Ron. £141.90 for a full tank. Madness


@clk320x I was merely stating facts and where do I say that fuel cost is a consideration... Just because someone can afford fuel prices of that magnitude doesn't mean one has to like it.

Any 181.9 is so last week - we are at 189.9 here now for Esso 99 RON.

I'm surprised he didn't offer up a money off code .

 

[SpikyMikey]

Tenerife today. Wish I'd paid for hold baggage now .. lol
View attachment 124836

So Spain, like Greece, has prices for diesel lower than unleaded. I'm sure there's a logical reason why UK prices for diesel are higher than unleaded

 

[Dryce]

So Spain, like Greece, has prices for diesel lower than unleaded. I'm sure there's a logical reason why UK prices for diesel are higher than unleaded

There was a time when duty on diesel was cheaper in the UK than petrol.

Basically adding duty to diesel ups costs for the whole economy as haulage and transport companies can't claim it back (as they can with VAT). So it gets added to the whole supply chain and the end consumer ultimately ends up paying the VAT on the duty (plus any effective markup on those cosst) as well.

I think you'll find in Greece that the duty/taxation regime favours diesel over petrol.

 

[ToeKnee]

Filed up with Tesco diesel today at 159.9ppl, a few miles up the road is a Texaco at 187.9 for diesel!

 

[Jibbajabba]

N

No, you're quite right you don't have to like it... but sadly there's nothing we can do to change it sadly.

Nope. Take it or leave it really. Our British Gas bill for April was just announced (electricity and gas) and we’ll be paying £3090 a year going forward. Even having an EV nowadays seems stupidly expensive. Speaking of expensive EV. Friend got quoted $39,000 for a new set of batteries for his Tesla because ONE cell died. After 8 years. Two months out of battery warranty. And where I live we have two public charge points at sainsburys. They charged my friends eGolf to an additional five miles in 45 minutes lol. So yea. We are fudged either way.

 

[E55BOF]

Does anyone know whether these wild fluctuations and variations in price are due to fluctuations in the cost per litre to the retailer, or are they mostly due to pure greed - charging as much as the market will bear?

 

[SpikyMikey]

Does anyone know whether these wild fluctuations and variations in price are due to fluctuations in the cost per litre to the retailer, or are they mostly due to pure greed - charging as much as the market will bear?

Dunno, but I suspect the old Scot's phrase "gouging" can be applied in certain cases.

 

[Jibbajabba]

Does anyone know whether these wild fluctuations and variations in price are due to fluctuations in the cost per litre to the retailer, or are they mostly due to pure greed - charging as much as the market will bear?

BP had a profit of $12.85 billion compared to a loss of $5.7 billion in 2020. ExxonMobil (Esso) has profits of $23 billion - $4.7 billion in the second quarter alone. So yes, I doubt it is merely market fluctuations ... especially BP is telling I think - jumping from a LOSS of $5.7b to a profit of $12.85b ...

I feel that a lot of companies, include small little private petrol station owners, just know they are getting away with it. Otherwise I don't see how our local BP can change their prices literally three times a day. I noticed a price change at 11am compared to 8am. Drove past 2pm and another change followed by a change at 5pm ...

Esso seems especially notorious to be 20-40p more expensive than the competitions and I'd really like to hear from the executives as to why.

Oh and :

Petrol prices set to ease after hitting record highs

Fuel prices are expected to peak this week before falling due to the price of oil dropping globally.

www.bbc.co.uk

But then again - even the car manufacturer inflates prices. I asked for a quote to fix the silver ring around my e63s' star at the front (around the housing from the radar) as it has came loose - and was quoted £239.90

 

[BTB 500]

BP had a profit of $12.85 billion compared to a loss of $5.7 billion in 2020. ExxonMobil (Esso) has profits of $23 billion - $4.7 billion in the second quarter alone. So yes, I doubt it is merely market fluctuations ... especially BP is telling I think - jumping from a LOSS of $5.7b to a profit of $12.85b ...

Those are global profits from all their various businesses though - only a tiny percentage will be from retailing fuel in the UK.

 

[Jibbajabba]

Those are global profits from all their various businesses though - only a tiny percentage will be from retailing fuel in the UK.

True. But I still think there is a clear disconnect between wholesale cost and pump cost. I mean the biggest cost of petrol is indeed the fuel duty of 40% and only 27% goes to the supplier. Overall the profit for a retailer is 9% (VAT being 17%) and I could almost bet a week's petrol bill (almost) that if the government would reduce the duty or VAT, the retailers would rather see their profit increasing before the price at the pump decreases. Maybe that's cynical but I struggle to believe that the retailers have drivers at heart

What I would want to know is why retailers like Esso charge literally up to 40p per litre for the same RON more than others. I doubt you get 40p worth of range out of it (looking at the 99 stuff).

 

[190]

With crude prices having fallen 20% from the peak we should soon see some signs of sanity in fuel prices. Market forces will always rule in the end and any outlets that continue with ridiculous prices will face a choice of lowering the price or selling little to no fuel. The public has caught the mood for sanctions so It will serve them right if drivers boycott the outlets that took the Pi$$.

 

[AMGeed]

The public has caught the mood for sanctions so It will serve them right if drivers boycott the outlets that took the Pi$$.

I have done that for the last couple of years where my local Esso station has a manager that puts an extra few pence on every litre making it the dearest filling station for miles. I simply refuse to use it and prefer to drive a couple of miles further and use Momentum at around 12p a litre cheaper than the Esso offering. The manager is just profiteering.

 

[Dickster]

Governments must balance the books. The way they do that will differ by country.

I’m sure we would all like to pay less tax, but I’m sure we would all also want to invest even more in the healthcare, education, social care, defence, foreign aid, etc.

Ultimately we must all pay our fair share, and as the tax regime and our personal circumstances both evolve, sometimes we will win and sometimes we will lose.

The current global situation means a spike in fuel costs - as well as many other costs - whether that turns out to be a permanent rise in fuel costs remains to be seen.

Governments will all respond differently. What’s right for one government isn’t right for all. The same is true for individuals and businesses, one size does not fit all.

Mmm, they are not very good at it though are they? UK plc is a few interest rate rises away from bankruptcy.