MSE News: Petrol prices set to reach record high

Derivative

Short term thinking abound on this thread.

Yes, it's more expensive to live closer to the city centre currently.

However, the price of petrol is going nowhere but up. Might dip or level off a bit in the short term, but 10, 20, 30 years into the future - fuel will cost more. Only hope we have there is that EV's take off and we manage to cheaply produce renewables.

If you buy a home based on the current price of petrol, thinking you're making savings, within 5-10 years it's likely you're having trouble. While city centre properties continue to rise in price, precisely because they can avoid the fuel price rises.

Not a solution for the entire country as some people have to use the rural homes, but I'd say most on this thread would be doing themselves a service to downsize and live more centrally.

And the 'death trap' posts are just daft. You do realise car accidents happen, right? Or, gasp, that you may have a heart attack due to lack of fitness taking the car everywhere?

milliemonster

I don't think anyone is narrowminded enough to expect that fuel prices, along with everything else aren't going to increase over the coming years, but it is the rate of increase that most people have issue with, 25% in the last 2-3 yrs????, my water rates have just gone up 22% for the coming year, with essential costs such as these climbing at such extortionate rates, and salaries severely lagging behind than this is what is unsustainable.

I can't move into the city where we work, we need to be close to our parents who live locally who look after our kids during the unsocial hours we have to work where there isn't any alternative childcare provision, moving to the city would mean just as many trips in the car to bring the kids to their grandparents the opposite way so we wouldn't gain anything.

whatmichaelsays

SHIPSHAPE wrote: »

Just wait until mortgage rates start to rise, as they surely will do, along with ever increasing fuel prices, which then affects food prices...

The reality is that plenty of ordinary people would welcome an increase in interest rates. They have been artificially low for long enough.

thor

wymondham wrote: »

What ever happend to the refinery/truckers/angry people etc who caused mayhem back in 2000 - prices are higher now..?

Politics. Labour were in power then.

custardy

thor wrote: »

Politics. Labour were in power then.

so people have more money now?

SHIPSHAPE

whatmichaelsays wrote: »

The reality is that plenty of ordinary people would welcome an increase in interest rates. They have been artificially low for long enough.

Huh?:huh:

The above makes no sense whatsoever.

What ordinary folk would welcome finding another, say, £200 per month, when interest rates eventually rise?

Why would anybody be happy to pay more for the same thing?

Bizarre.

Sgt_Pepper_2

SHIPSHAPE wrote: »

Huh?:huh:

The above makes no sense whatsoever.

What ordinary folk would welcome finding another, say, £200 per month, when interest rates eventually rise?

Why would anybody be happy to pay more for the same thing?

Bizarre.

They're on the way up now.

Derivative

SHIPSHAPE wrote: »

Huh?:huh:

The above makes no sense whatsoever.

What ordinary folk would welcome finding another, say, £200 per month, when interest rates eventually rise?

Why would anybody be happy to pay more for the same thing?

Bizarre.

I have no mortgage. A base rate rise would mean an increase in my student loan interest rate, however that would be more than made up for by a rate increase on my savings.

Of course, because I don't have a £200k mortgage and mouths to feed, I suspect I'm not 'ordinary folk' by your definition.

I tend to read "ordinary folk" or anything similar such as "average joe", or my personal favourite "people in the real world" as simply "people who made the same decisions as me". Why not simply state the truth?

SHIPSHAPE

Sgt_Pepper wrote: »

They're on the way up now.

Yes I know, I stated so in an earlier post of mine on this thread.

I was perplexed as to what member whatmichaelsays posted, ie essentially, people will be happy to pay more for their motrgage as interest rates rise.

I've never met anyone who is happy to pay more for something today than they were paying yesterday.

Takes all sorts I guess.

Derivative

SHIPSHAPE wrote: »

Yes I know, I stated so in an earlier post of mine on this thread.

I was perplexed as to what member whatmichaelsays posted, ie essentially, people will be happy to pay more for their motrgage as interest rates rise.

I've never met anyone who is happy to pay more for something today than they were paying yesterday.

Takes all sorts I guess.

As posted above, you are defining "ordinary folk" as "people with a mortgage". And people with a large mortgage outstanding, at that.

Why?

Many people are savers. Many people have mortgages.
It hardly takes a rocket scientist to figure out that base rate rises can be good or bad depending on personal position.