Fuel prices - brace yourselves

[RabbieBurns]

Not quite - that is currently about 97p a litre. It hasnt been $2 to the pound for a while now

 

As for petrol costing less in Europe, again not quite, virtually every country is above 90p a litre. France costs virtually the same. Granted some of that is because of the weak pound but its a myth that petrol is suddenly cheaper across the channel

 

Finally, north sea oil output peaked over 10 years ago, its been declining ever since, so more and more is being imported

 

1.20 AUD = 0.730552 GBP XE.com: AUD to GBP rate: 1.20 AUD = 0.730249 GBP

 

 

Though granted dot quite 2.1 anymore.. my withdrawls from my UK accounts are costing me more and more all the time

[sidewinder]

1.20 AUD = 0.730552 GBP XE.com: AUD to GBP rate: 1.20 AUD = 0.730249 GBP

 

 

Though granted dot quite 2.1 anymore.. my withdrawls from my UK accounts are costing me more and more all the time

 

Sorry...not sure how I managed to mess such a simple conversion up!

[Pottsey]

sidewinder said “Doesnt make it a myth, just means, as you say, we dont know when it will be. Thats not a reason to ignore it”

Peak oil could be a day or two before it runs out. It could be in 100 or 1000 years. Peak oil is just the max amount that can be extracted at once. In theory you can extract the peak amount right up till almost none is left.

[Michael]

I would say part of the rise is to due with the drop in value of the pound which is 1 EUR = 0.908819, which is 91p to 1 Euro in simple terms.

 

It will be interesting with the Budget due to be announed on March 24th (next week) whether the Government plan on adding another 2p in October 2010 which they seem to do every year now.

 

Edit: I was unaware Darling was planning to add 3p more in April according to the BBC. Not looking positive at all!

[Jamo]

Ive never understood why they don't just use a percentage tax on fuel :s

 

Something along the lines of 0% would be great for me

[danrhodes]

 

Something along the lines of 0% would be great for me

 

All in favour of Jamo's idea of having 0% Tax on fuel say "aye".

 

 

AYE!!!

[sidewinder]

Peak oil could be a day or two before it runs out. It could be in 100 or 1000 years. Peak oil is just the max amount that can be extracted at once. In theory you can extract the peak amount right up till almost none is left.

 

No, that is pretty much exactly what it isnt. You dont just extract the maximum until it suddenly runs out, its impossible. Theres a maximum extraction point which then starts to decrease. The rate on a graph usually ends up as a bell curve

[srochford]

All in favour of Jamo's idea of having 0% Tax on fuel say "aye".

 

 

AYE!!!

 

All in favour of using that 0% tax to fund a £0 salary for IT Staff say "aye"

 

- perhaps not such a big rush to throw away the money that pays our wages :-)

[JJonas]

Peak oil is where the demand equals the maximum level of extraction. At that point all those countries who have oil will probably start to restrict supply to other countries that dont. Then the price per barrel will really start to go up.

[Fuzzz]

Here in the Netherlands we pay €1.50 (that's 1.36 GBP) per litre of petrol...

[Michael]

Ive never understood why they don't just use a percentage tax on fuel

 

Correct me if I am wrong but wouldn't it equal the same? A fixed tax rate in pence or a fixed tax percentage should give the same results.

[Jamo]

Correct me if I am wrong but wouldn't it equal the same? A fixed tax rate in pence or a fixed tax percentage should give the same results.

 

Yeah but it would stop people from being angry at the gov'ment for saying they are 'increasing' fuel duty. You see im doing them a favour. Apart from the 0% part.

 

I vote get rid of VLE's and the 0%.... so the figures might not quite add up but hey its my first policy for the upcoming election.....

[Martin]

Didn't Dahling increase duty on fuel to offset the decrease in VAT a year and a half ago? Strange how he chose NOT to decrease it again when VAT went back up

 

So when he "postpones" (not that there is an election coming or anything like that) the 3p duty rise in April we are already effectively paying for it now (and have been for a few months)!

 

mb

[ICT_GUY]

Fuel prices will go up a lot over the next ten years, The age of cheap transport and heavy cars has almost past.

 

Probably.

[ahuxham]

Doesnt make it a myth, just means, as you say, we dont know when it will be. Thats not a reason to ignore it

 

No, the myth is; we've reached it, or due to reach it in the next year or so. Like we both agree here, no one can be certain about this at all, or when this is going to happen.

[ahuxham]

sidewinder said “Doesnt make it a myth, just means, as you say, we dont know when it will be. Thats not a reason to ignore it”

Peak oil could be a day or two before it runs out. It could be in 100 or 1000 years. Peak oil is just the max amount that can be extracted at once. In theory you can extract the peak amount right up till almost none is left.

 

Actually Peak Oil is the following definition:

 

Where demand out-weighs supply. I.e. We're using more than we can pull out the ground

[maniac]

I spend £40 a week just getting to work, it's crazy.

 

Mind you, go back about 10 years and I remember paying about 69p a litre, so within 10 years we've seen about an 75% increase.

 

The oil industry fix the prices, as soon as there's excess oil in the system, they slow down supplies to artificially increase prices. Anyone remember the massive decrease around the time the credit crunch kicked in, less demand and there was suddenly too much so they slowed supply and slowly the price krept back up - crafty.

 

Mike.

[HarryMonkey]

Petrol is set to go up to £1.20/litre,

 

Set, to go up! It's already £1.20 a litre here at my local BP.

[SpuffMonkey]

It isn't set to go down any time soon according to this BBC news article.

 

Petrol is set to go up to £1.20/litre, yet I quote, "the current oil price of about $80 a barrel is far below the $147 a barrel-high seen in the summer of 2008, the last time petrol prices neared £1.20 a litre."

 

Makes me think my lucky stars our local forecore is now the cheapest in the country at 111.9, which itself is still far more than we should be paying, apparantly!

 

Whereabouts is that forecourt - I'm up that way in a few days & could do with a cheap(ish) fill up!

[36Degrees]

10 days ago it was 109.9 at the garage I use. As I drove past this morning it was 113.9.

[tmcd35]

I often wonder how meny garages/oil companies use stories like this and/or iminant tax hikes as an excuse to rise price anyway? Also do the prices ever actualy go down? Yes over a week or two a couple of pence may come off the price but if we looked at a graph for 6months/year/10years I recon the trend is only in one direction......greed.

[torledo]

And fuel duty is supposed to go up by 3p come april 1st.

 

that'll be popular.

[sandeep2504]

There has to be a breaking point for consumers at some stage maybe £1.50?

 

I think the goverment know no one is going to protest so they know they can continue to increase taxes every budget.

 

I drove past one petrol station sunday near roehampton it was was 113p and five mins down the road on the a3 at another station it was 118p.

 

Start a facebook protest group as it seems to be the only way that people take notice these days.

[Dos_Box]

The other thign to consider about oil reserves is that there is still a LOT of oil out there. What is lacking are teh resources to discover and exploit it. Many major oil companies will also get cagy when asked about their reserves as they 'sit' on oil fields without exploiting them. This too keeps oil prices high. It took over 10 years to get the Falklands oil fields explored simply due to the lack of exploration equipment. Ther is also a silly rounour going around that the conflict in 1982 was about oil. It was not, in fact the govt was looking at the possibility of offloading the Falklands to Argentina at the time.

But we do need to break the dependancy on oil as a transportation fuel source, I just wish govts would do it with a degree of thought. Whats the point in taxing people more as an envirmoental tax when for many there is no alternative, when a well thought out international agreement to phase in alternative fuel based vehicles over say 25 years matched by the increased tax on fossil transport fuel, would mean car manufaturers would be compelled to develop said vehicles whilst the poorest in society would not be hammered quite so hard before the older model 'green' cars filter down to them.

[dgsmith]

Whereabouts is that forecourt - I'm up that way in a few days & could do with a cheap(ish) fill up!

 

Tesco in Litherland, Merseyside was 111.9 on Sunday. They seem to be keeping it as low as possible to put the other station across the road out of business (as this Tesco was only built late last year).

 

Most stations otherwise around here are 113.9 now though.