Petroleum Prices

I took it that demestic gas prices was link to Oil prices, How come petrol prices has drop because of the drop in Oil prices but have not heard from the energy companies?

Because they are robbin' barstewards, oil prices are down by about 50% but diesel has dropped by only about 10%, whenever oil prices rise we see an almost immediate increase in all our fuel prices, when oil prices drop we see a painfully inadequate trickle(sorry Dick ) of nothing like the decrease we should, cnuts!!!!!!!!!!!!!!!!!!!!!!!!!!!

Oil prices/barrel were at the same price in 2007/8 and fuel was barely £1/litre. So how come pump-prices haven't fricken dropped to the same price now?

As quoted above........Robbing barstewards.

Person Of Interest wrote:

Oil prices/barrel were at the same price in 2007/8 and fuel was barely £1/litre. So how come pump-prices haven't fricken dropped to the same price now?

As quoted above........Robbing barstewards.

Taxes


I am filling up today, with a 5p off voucher for £1.08 Ltr going to Bournemouth.

True TGWU, the government take a much bigger slice every budget, how many 2,3,4 and 5p a litre rises have been announced since then? Apart rom that they are still robbing us, it takes too long for the price to drop when the price of crude drops as they are using older costlier crude to refine with but hen when the price goes back up the rise at the pumps is within days.

AstiSpumante wrote:

Because they are robbin' barstewards, oil prices are down by about 50% but diesel has dropped by only about 10%, whenever oil prices rise we see an almost immediate increase in all our fuel prices, when oil prices drop we see a painfully inadequate trickle(sorry Dick ) of nothing like the decrease we should, cnuts!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'm not taking their side but only a relatively small portion of the price of a litre of petrol actually represents the oil component.

I'm not entirely sure of the actual figure here but something like 85p/litre goes to the government for duty. Obviously the 20% VAT gets added to that.

As it does to the rest of the cost which has to include the cost of renting or buying the site, running and insuring the building, the staff's wages and profit (if there is any).

So getting towards £1/litre is tax and some of what remains represents costs. The oil companies could give their oil away and we'd still be paying nearly what we are now (I think I saw £1.13/litre when I drove past Sainsbury's earlier).

In fact Supermarkets make barely any money on their fuel sales at all and use cheap prices as a loss leader to get people to do their shopping there which, in turn, has seen the independent, traditional petrol stations all but disappear.

And when they are gone the supermarkets' monopoly means they will be able to charge us what they like!

anyone prepared for no oil?

weve peaked with oil, meaning there is less in the ground than has been extracted. the fuel prices are lower at present to scupper any renewables investments, and for that reason alone.

get used to higher and higher oil prices, i reckon we'll see an massive increase once the elections, uk , us and other western nations, have been rigged, i mean fought.
get yer last jolidays booked as in 2016 no ones going nowhere

2016 ? Thought there was enough to last until 2025

Sir Francis Drake wrote:

I'm not entirely sure of the actual figure here but something like 85p/litre goes to the government for duty. Obviously the 20% VAT gets added to that.

Yes, "not entirely sure of the actual figure" pretty much covers it, Fuel tax is 58p a litre and with the price hovering around £1.15 about another 20p comes in vat, so a total of 78p or less than 70% of the total.

I believe the oil accounts for less than 2% of the total price for petrol plus any difference in the value of the pound to the dollar has its own effect.

I hate paying tax so the fifty quid it costs me when I fill up does hurt but as with just about everything else we buy in this country we have to pay through the nose, 47p a litre in the US, 2p a litre in Venezuela but still a quid 27p in Italy.

Mapperley, darling wrote:

anyone prepared for no oil?

weve peaked with oil, meaning there is less in the ground than has been extracted. the fuel prices are lower at present to scupper any renewables investments, and for that reason alone.

FFS Mappers, you do talk some utter bollocks.

The current price has got feck all to do with renewables, world production is up while consumption is down, that's all there is to it. The fact that the KSA isn't prepared to bite the bullet and cut production to stabilise the price does have a bit to do with geopolitical reality, they hate the Iranians who depend massively on oil and it helps out the Yanks with putting pressure on the Russians, it also fecks to over the fracking Yank oil producers which is their Brucie bonus.

ps. Here is a definition of what Peak Oil actually refers to:-

"Peak oil, an event based on M. King Hubbert's theory, is the point in time when the maximum rate of extraction of petroleum is reached, after which the rate of production is expected to enter terminal decline."

The Hubbert Peak has not been reached, there are still massive reserves much of which has not even been looked for yet, the only criterion for how much we can extract is whether people will pay a price, at ten dollars a barrel you are down to about 30% of known reserves, enough for about another 50 years at current consumption rates, at the 100 dollars we have had for a while now there is enough for 150 years, at 200 dollars the oil companies will be back out wild catting all over the planet.

Lord Tis got every point right, the Saudis are shit scared of Iran and will do whatever they can to feck 'em over.