Heating oil dropping like a stone

N9eav

I noticed that heating oil dropped 2p in one day this week and is falling. Could be a good time to monitor prices for a winter fill up?

Boiler juice website is good for keeping an eye on it, and ordering perhaps.

Why then is car fuel not moving????? Oil has come down on the markets almost 40% recently.... I guess they are profit making..:mad:

Cardew

Oil price is just one factor in the cost of petrol/diesel - tax is the biggest factor.

Also oil is priced in US$ and that currency has appreciated against the £ Sterling considerably in recent weeks.

It has dropped a few pence around this area - but as usual probably not enough to reflect the drop in oil prices.

dougk_2

The biggest factor in the reason why fuel/petrol prices have not dropped is the oil companies/suppliers..... they want to make lots of money and people get used to paying the high price so why reduce it? Simply put in the UK we are ripped off by big companies and the regulators/government don't do anything aboput it.

Cardew

dougk wrote: »

The biggest factor in the reason why fuel/petrol prices have not dropped is the oil companies/suppliers..... they want to make lots of money and people get used to paying the high price so why reduce it? Simply put in the UK we are ripped off by big companies and the regulators/government don't do anything aboput it.

Simply not true I am afraid.

From
http://www.energy.eu/#domestic

This is a table of the petrol prices in Europe in Euros

The Important figure, as far as the contention that we in UK are being ripped off, is the figure in brackets - this is the price excluding taxes and duties.

You will note that only Bulgaria have cheaper fuel!!

Effective: SEP. 17, 2008

Bulgaria1.08 (0.55)
Romania1.08 (0.59)
Latvia1.09 (0.62)
Lithuania1.09 (0.60)
Cyprus1.09 (0.64)
Estonia1.11 (0.58)
Slovenia1.13 (0.58)
Spain1.19 (0.61)
Malta1.20 (0.70)
Greece1.20 (0.65)
Luxembourg1.24 (0.62)
Czech Rep.1.26 (0.58)
Hungary1.26 (0.61)
Poland1.26 (0.56)
Austria1.27 (0.57)
Slovakia1.33 (0.60)
Ireland1.33 (0.66)
United Kingdom1.38 (0.56)
Sweden1.40 (0.56)
France1.43 (0.59)
Italy1.45 (0.64)
Germany1.45 (0.57)
Denmark1.46 (0.61)
Portugal1.47 (0.64)
Belgium1.47 (0.63)
Finland1.49 (0.61)
Netherlands1.61 (0.67)

almillar

Showing that the cheapest petrol in Europe is Bulgaria - 55cent and the most expensive is Malta at 70cent. EX TAX. As Cardew says, the biggest cost of fuel in the UK is the Fuel duty, which is charged as well as VAT. Your caring government is the one ripping you off, taking about 200% tax off you on the inflated prices. eg every time the net price goes up by 1p, they take 2p, meaning that it's a 3p rise at the pump! Glad to see they're helping us out there.

Cardew

almillar wrote: »

Showing that the cheapest petrol in Europe is Bulgaria - 55cent and the most expensive is Malta at 70cent. EX TAX. As Cardew says, the biggest cost of fuel in the UK is the Fuel duty, which is charged as well as VAT. Your caring government is the one ripping you off, taking about 200% tax off you on the inflated prices. eg every time the net price goes up by 1p, they take 2p, meaning that it's a 3p rise at the pump! Glad to see they're helping us out there.

The latter part of that statement(in bold) is not correct.

The Fuel Duty is a fixed rate(currently 50.35p) however VAT is charged at on the cost of the Duty plus the fuel itself. e.g. Fuel duty 50p + fuel cost of 40p = 90p therefore VAT at 17.5% = 15.75p total is £1.0575

So 1p extra on the fuel cost will cost you 1.175p. Conversely if fuel drops by 1p etc

almillar

Sorry about that, I'd always thought that Fuel duty was a %age, just like VAT is 17.5%, thanks!

jess1974

I have just ordered 700 litres with Total Butler at a cost of £340.38, do you think this is a good price?

MartinButcher

If thats including vat yes, I have just been quoted 51.2 / litre including Vat (Dorset)

jess1974

Yes it does include the Vat...

adamo_3

I checked boiler juice yesterday for a quote on 1000 litres...Today is is down nearly £25.. I think there might still be a significant further drop but its difficult to say how close we are to it in the current economic climate...I'm going to hold off on ordering for a few more days though.