BBC News Story: Petrol & diesel sales down

Wanton

Just read this on the BBC website -

http://www.bbc.co.uk/news/business-19810276

Quite interesting, could this lead to companies dropping prices to try and encourage us to buy more; or have the opposite effect and they raise prices to make up for the loss?

SailorSam

I think it's got to the point where people are less inclined to go out 'just for a drive'. And on local journeys such as going the shops they may walk there more.

TrickyWicky

Of our 3 cars only one is now used. It's the smallest of them with a 1.3 engine so they're not making much from us anymore.

note_2

same here, over the years my family have gone from 1.8L saloons now to 2 small cars which are very efficient, one of which is the diesel which gives incredible fuel economy.

"However, petrol prices slumped more than 10p a litre - from the record of 142.48p a litre in mid-April to the low-point of 131.19p at the end of June

where is its 136.9 at most places here, so thats 5p up for in one year.

they'll probably rise the duty again in the near future to cover the any shortfall. got to admit i laughed last budget when the chancellor said 'we are fuelling britains economic recovery' with a 1p cut in fuel duty or something. lol, just lol.

chris-j

Well Sky News report had guy saying that sales were down DESPITE LOWER PRICES. When media start reporting like this we are doomed.
Prices will continue going up while incomes continue to fall.
Every time chancellor delays a fuel duty increase the petrol companies will just grab it instead. The government should stop pre-announcing duty rises and go back to doing them on budget day if required (although there is no need for any further duty rises ever).
what will not happen is prices reducing.
, might get the old 2 or 3p here and there but without a substantial reduction such as removing VAT from the duty (it is obscene to add tax to a tax as blatently as this) which would knock an immediate 12p off per litre then nothing changes.

motorguy

fuel usage may be down here, but i dont think they oil companies will be remotely concerned, the developing nations such as india and china are forcing prices up because of their massively increased usage.

Oh, and tax revenue from fuel is down, so expect higher fuel tax to offset this.