Fuel pricing - time to take that tough decision?

[MJJ]

I cannot see a path for fuel prices to come down again. There may be small fluctuation, but the medium term trend has to be upward in my view.

As a nation, cars are more efficient and we use less fuel. The growth in EVs is continuing. EU7 regs will mean another increase in combustion engine efficiency. The oil companies still have vast costs in extraction and refinement, so they are not going to drop their costs.

The UK government tax take from fuel duty also reduces as we all drive more efficient cars, and use less fuel. They are going to find it difficult, post pandemic costs, to trim fuel duty.

My belief is that there will be a more viable market for synthetic fuels in a couple of years, which will get closer to price parity with fossil fuel and support the running of the vast, existing fleet of combustion engined passenger cars, LGVs and HGVs.

On a positive note, as fuel prices rise, the price of second hand high-consumption cars tends to reduce. Once we are past the chip shortage induced market blip on used car values, perhaps our next V8/V12 will be more reasonable to buy.

Martin.

 

[davymead]

Interesting statistics from the AA

Drivers prefer petrol cars to electric models as their next vehicle

MORE drivers still want petrol cars as their next vehicle despite a surge in interest for EVs, according to new data from the AA.

www.express.co.uk

 

[BTB 500]

Some profiteering going on there. I was in York last Friday and filled up with E10 at Sainsburys for 141.9

At home near Macclesfield it's between 149.9 and 158.9 so quite a saving.

Unleaded was 153.9 round here yesterday (Morrisons), and diesel 158.9 (BP)

 

[OneForTheRoad]

Diesel 1.49 here . Unleaded 1.41

 

[merc07]

HMRC rates for business travel expenses is updated every quarter, Match 1st was the latest.
For diesel vehicles over 2000cc this went up from 16p to 16.3p per mile, based on £151 litre and 43.5 mpg.

Advisory fuel rates

Find out about advisory fuel rates for company car users, when you can use them, and how they're calculated.

www.gov.uk

I'm assuming it won't change again for another 3 months ?.

We had our fuel cards taken off us during lockdown and now have to claim back the above + some tax relief at the end of the year.

I am doing about 200 miles a day average..

 

[suty455]

Those rates are silly I worked for a co a few years back who had the same policy, I lasted 3 Months and realised it was actually costing me money to do the job, should not be allowed am assuming its a CC or you should be getting a higher rate than that

 

[Deleted member 159894]

Those rates are silly I worked for a co a few years back who had the same policy, I lasted 3 Months and realised it was actually costing me money to do the job, should not be allowed am assuming its a CC or you should be getting a higher rate than that

It must have been a very poorly paid position, was it a paperboy role?

 

[m80]

Today I filled up at 151.9p per litre. A flippin' bargain as while driving back through N Wales I've seen 164.9p, and within a mile of home 169.9p
I wouldn't be mistaken in thinking it's just the Russians going to pay for this lot, but they are. Their inflation is near rampant already.

 

[Deleted member 55947]

My local Shell is £1.579 pl, 1km up the same road £1.489 at a Tesco Esso. The main issue, as always, is why doesn’t it come down as quick as it goes up ?

 

[merc07]

Those rates are silly I worked for a co a few years back who had the same policy, I lasted 3 Months and realised it was actually costing me money to do the job, should not be allowed am assuming its a CC or you should be getting a higher rate than that

No, not a company car, I opted out in 2001...
That just covers fuel costs, or least it is supposed to, as long as it keeps up with the government fuel price but I would be surprised if they do a monthly update..

Luckily a lot of my mileage is motorway at the moment and my C350 is good for high 50's, low 60' if you dawdle along at 60 odd, overall average around 50mpg ish

 

[gadgetgricey1971]

Not needed to claim mileage at work for a while, but think there are two rates. 25p & 40p per mile.
25p is the norm for all circumstances, so just hope car does more than 25mpg or you would be losing money.

 

[Deleted member 159894]

Not needed to claim mileage at work for a while, but think there are two rates. 25p & 40p per mile.
25p is the norm for all circumstances, so just hope car does more than 25mpg or you would be losing money.

It was always 40p up to 10k miles and 26p over 10k.

It doesn’t matter what your employer gives you there’s always a tax claim up to the maximum.

 

[merc07]

It was always 40p up to 10k miles and 26p over 10k.

It doesn’t matter what your employer gives you there’s always a tax claim up to the maximum.

Yes, mileage allowance claim, 45p for first 10k miles then 25p thereafter, I claim the difference from the 16p - but only the tax on it, not the actual amount. And not till a year later.
Assume the 45p / 25p should also go up at some time.

Any how, the point was the government should change their quarterly fuel allowance rate update to a monthly update going by the speed the pump prices are rising.

 

[bolidemichael]

OP, can you not consider changing your habits to skip one day of commuting by car to save on fuel? Eight miles on a bike isn't particularly onerous and will take about half an hour or so.

 

[chic0821]

Yes, I remember putting 4 gallons in the car and getting change out of a quid too

I remember those days, my dad used to put in 4 gallons & 4 skoots of Redex for £1. Also a kind person would put the petrol in for you, in all weathers, the hardest thing you had to do was wind down your window.
Also you could always fix your car & get it running with no electronic wizardry & even if it was new, watch it rusting before your eyes. Happy days.

 

[Numair Aidroos]

Well, looks like our 'friend' in Moscow has actually gone through with his bonkers plans. I never thought i'd be in this position (and certainly not because of a Russian dictator!), it looks like I have to seriously consider mothballing the car for a while - at least until fuel comes down a bit. I filled up this morning and paid £1.50/litre at Tesco - which is unheard of round here. Thats a rise of 10p from the previous week alone, in this area.

If it rises to the rumoured £2/litre in the next few weeks (more like £2.20/litre for Momentum) i'm going to be walking an awful lot more!

It genuinely saddens me to say that too - i'm guessing I won't be the only one.

Doubly annoying too as we were on the verge of getting a second car (hybrid) just regular motoring/short journeys etc - bit late now I guess!

Hardly anything. If in a week you spend 80 GBP. You'll be upto 140 GBP.
Your country has high taxes just as ours. Getting hybrid or a full electric will have its consequences in battery replacements which will cost more than what you saved in a due course of time.

 

[Numair Aidroos]

OP, can you not consider changing your habits to skip one day of commuting by car to save on fuel? Eight miles on a bike isn't particularly onerous and will take about half an hour or so.

Why kill your comfort for 5 GBP extra per day? This is over exaggeration.

 

[Numair Aidroos]

I made a valid point about fuel costs. You may have the wealth to not give a sh*t about fuel costs, well done you - many of us, whether or not they care to admit it, have to think about things a little more carefully.

So if its ok with you, i'll carry on 'discussing' this, as and when I feel like it? How's that grab you?

Discuss if income taxes are at 80%, and VAT at 500%. Go to your respective MP and ask them to lower the taxes on fuel in your area. Your country is charging a high custom import fee and then charges vat on top of it for this high price. Oil barrels were 93 a piece, now they are 115 a piece. Hardly a huge margin .
Natural gas is where the real game is. Even then a 60% hike is not going to empty your accounts at Lloyds. If your winter bill was 100 quid, now you'll be at 160 quid.

 

[Numair Aidroos]

Interesting thoughts. I can't really avoid driving, but have taken my Skoda (currently the most efficient car I own) on a few longer journeys to see what cost saving there might be. I found little difference in mpg between it and my E63 on long journeys, according to trip computers. And I know the Skoda mpg over estimates mpg compared with the E63.
Reducing the weight of my right foot would increase the difference, but for now it was reassuring that the E63 isn't actually costing me much more on fuel on those long trips

On long trips I get more mpg from long wheel base mb than Honda.

 

[sgregory124]

OP, can you not consider changing your habits to skip one day of commuting by car to save on fuel? Eight miles on a bike isn't particularly onerous and will take about half an hour or so.

Absolutely not. Not only do I not want to look like some sweaty mess when I get to work (we have no showering facilities), I also quite enjoy being alive - the roads are way too dangerous (horrendously potholed and poor driving standards) here to even consider cycling.