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Fuel pricing - time to take that tough decision?

March 2020 believe it or not!
Blimey, the RAC Foundation does indeed report that unleaded petrol dropped to below 110p in March 2020, I had no idea, but I doubt many did as it was perhaps at the beginning of lockdown and most of us were at home and not using our cars.

Apart from another fleeting moment, it looks like unleaded petrol broke the 100p per litre barrier in late 2007.

 
I arrived in UK November 2007 and I am sure I have seen 99p since. At some point. Somewhere. Someday lol.
 
Yes
Blimey, the RAC Foundation does indeed report that unleaded petrol dropped to below 110p in March 2020, I had no idea, but I doubt many did as it was perhaps at the beginning of lockdown and most of us were at home and not using our cars.

Apart from another fleeting moment, it looks like unleaded petrol broke the 100p per litre barrier in late 2007.

Yes, very surprising! Obviously due to very low demand for oil at the start of the pandemic.

And £1 in 2007 is still £1.35 in today's money assuming 2% annual inflation...
 
I remember during the COVID lockdown in 2020 seeing unleaded fuel for below £1/litre, think Tescos were 97.9p or 99.9p for regular grade 95 RON (and that was when it was still E5!) :)
 
At that time the cost of fuel per barrel went into negative figures.....no demand. Minus $40 per barrel at one point!

 
Given that crude oil is now down to approx. $100 a barrel, what I want to know is why we are still seeing E10 at 160p and that's after a 5p tax reduction. I expect there will be renewed media pressure on the retailers soon asking why fuel prices are not falling faster.
 
I read Profit margins can be 19p/litre!
 
At that time the cost of fuel per barrel went into negative figures

... which caused some problems for IT systems that had never been designed to cater for negative price quotes!
 
Gross or net? For the filling station, distributor or the oil company?
For the filling station that was. I can't find the article, but don't believe it stated gross or net.
 
It definitely wasn't this as I never read any mirror articles, but seems to tell a similar story of RAC figures.....

 
It definitely wasn't this as I never read any mirror articles, but seems to tell a similar story of RAC figures.....

That was in November 2021 though.
 
Just filled up with diesel at the local Jet garage in Auchenleck.
£1.80 litre. Date...14 July.
 
Still £1.95 here in Cambridge (for normal petrol, not full fat)
 
Hi , the good stuff in Worcester is £2.12 per litre !

Supply and demand , if we don't purchase fuel the price will fall , if carry purchasing fuel the sky's the limit re cost.
 

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