Fuel.

Eric_Pisch

Its going to get alot worse, the rest of the world is coming out of recession, demand will go up, total consumption is also increasing year on year

The devaluation of sterling by approx 20% will have an impact on fuel prices.

At its peak (July 08) before the crash I was paying £1.48 a litre, now with just the drop in the exchange rate (1.98 (july 08) to 1.67 (now)) that would put it up to £1.71 a litre, there is also a some tax hikes in the mean time to add to that so £1.75-£1.80 in london would seam reasonable if oil goes back up to $147 a barrel.

add the greedy filth that are speculative investors and $200 a barrel in the next few years is believable which will mean nearer £2.50 a litre ...

drc

Isn't most of the cost of petrol made up from tax? I know the petrol companies make big profits but so does this government :rolleyes: and it seems to be squandering most of it, let alone reinvesting it in more sustainable energies.

PasturesNew

I bought my current car with fuel efficiency in mind. I get 10 miles/litre, so can handily see how much each mile's costing me (£1.10/litre = £0.11/mile).

For those of us who don't work, we get it easy ... I had one job that was 100 miles round trip every day, so if I were still there I'd have had to leave as the petrol bill would have been way too much for the salary. In fact, it was after that job that I decided I'd work in walking distance of my house (which severely restricted jobs because I was in a small seaside town), but it did mean I never had to worry about whether the car was working or not.

I plan, ultimately, to buy a house less than 2 miles from a job, offering various options for getting to work.

The cost of getting to work -v- the salary you get when you are there is an increasing issue.

HAMISH_MCTAVISH

Rochdale_Pioneers wrote: »

The main point to remember is that the price of crude is rising and rising.

Yes, but crude is still only half the cost it was when petrol was at £1.20

We're not seeing rises at pump because of tax, its all crude. Nor is it rip off Britain - according to the AA we have only the 13th highest price for unleaded.

No, it really is "rip-off" Britain.

More than 70% of the price is Tax...... That's outrageous, and it has done nothing to curb driving miles.

The tax take has risen by 50% in the last 10 years, and we still drive exactly the same number of miles.

It's a rip off, and has done nothing to decrease miles driven, whilst penalising those who live in the 90% of the UK without good or cheap public transport alternatives.

Really2

I think I said this last week.
http://gulfnews.com/business/oil-gas/opec-oil-price-level-satisfactory-1.528548

Abu Dhabi: The international oil prices currently in the range of $75-$78 per barrel are at a "good level" and the Organisation of Petroleum Exporting Countries (Opec) is "happy" with the price range, Opec President Jose Maria Botelho de Vasconcelos said on Monday.
"It's a balanced price, not too high. The [global] economy can recover at the current price," de Vasconcelos told reporters in Abu Dhabi on the sidelines of an energy conference. Even at $80 per barrel, the oil prices are not too high, he added.

Production was cut the start of this year to get oil back to this price as it is the price OPEC deem fair/need.
If they need to they can increase production again, but who is predicting a strong recovery?

black_taxi_2

im a taxi driver

if it hits £2.50 a litre cheapest fare will be £15

Eric_Pisch

black_taxi wrote: »

im a taxi driver

if it hits £2.50 a litre cheapest fare will be £15

and you would still be cheaper than public transport :rotfl:

HAMISH_MCTAVISH

black_taxi wrote: »

im a taxi driver

if it hits £2.50 a litre cheapest fare will be £15

Well given it is just £1.20 just now, that seems unlikely any time soon.

And at 30 miles to the gallon, the cost increase for petrol doubling would still only be an extra 8p a mile to a cabby.....

Or 80p for a 10 mile journey.

So any increases beyonf that would be another example of "rip-off" Britain.:rolleyes:

ess0two

Rochdale_Pioneers wrote: »

The main point to remember is that the price of crude is rising and rising. We're not seeing rises at pump because of tax, its all crude. Nor is it rip off Britain - according to the AA we have only the 13th highest price for unleaded.

Ultimately we are seeing what happens when demand soars for a finite resource. Whilst there is crude aplenty left, new finds are increasingly difficult and therefore expensive to extract. It no wonder prices are where they are. In the long term its only going to get worse, not better.

The UK just does'nt have enough refining capacity for diesel,the majority of refineries are geared to petrol,cat cracking.There is only 1 hydro-cracker in the UK,makes predominately more diesel.
The majority can't make enough diesel,and any further investment just is'nt warranted as the surplus diesel required is imported.

Watch this space as investment dwindles,massive refineries are popping up in India,the next 10yrs the UK will be supplied with over 50% of refined petroleum products from there.

Trouble is the government are gonna sit back and let this happen,only taking note when the ability to supply the UK is compromised in some way.

Rochdale_Pioneers

JonnyBravo wrote: »

Here he is..... the king of the one eyed views.....

Forgotten that Gordon the Moron put up tax by 2p in September already????

http://www.guardian.co.uk/uk/2009/sep/01/fuel-duty-rises-again

1. One eyed views? How much has tax gone up by? And how much have pump prices gone up by? If only we could explain the soaring pump prices by a couple of pence of tax added on. How do you account for the other 18p+? Is that tax? Or is it not tax? Would you feel happy and content paying 2.3p less per litre had that not happened?
2. I await the howls of anguish if and when the Tories form a government. Their stated policy on fuel duty - formulated at the height of the price bubble and 130p a litre - was to cut duty when prices were high and increase duty when prices are low. By any measure crude prices have been low recently. That would according to Tory policy have seen duty increases of more than 2p. So if you expect them to slash tax (and revenue) then you my dear are the one eyed chap not eye....

BTW if its all tax, and if we're being ripped off here uniquely, then why is unleaded only 13th most expensive in Europe? We pay more tax than other countries yet fuel costs less here. Could it be perhaps that other things than tax influence the price? Having read Hamish McJobbie's froth about 50% tax hikes, perhaps he would like to pay the price seen in lower tax countries? Where the pump price is higher than here....?