MSE News: Petrol price rockets 5p/litre in a month

steve-L

The issue is to look at fuel sales first that fuel is bought on futures and hence there is a entry fee like a no limits poker game.

If you can't deal with the numbers then you must buy from someone else that can.

This might seem unfair but the super-majors have invested billions in refineries and distribution.

For the super-majors, pump sales are almost irrelevant to their profit overall. Indeed its an expensive part of the whole business from exploration to pump that employs most of the staff in 'downstream' (refinery to pump) for a small amount of profit.

Was it not for the investments made many of the supermajors could simply stop selling at the pump as a low profit part of the business.

As it is they have invested billions and pump sales provide an outlet for their product. Equally, you can't 'sit at the gaming table' (trading floor) without the cash....

Whereas for consumers it seems that this is where profit is made in supermajors a look at the annual reports shows it isn't.
E&P and Trading provide much higher turnover on 1/100th of the people.

Naughty_Noonoo

George Osborne stopped the increase of 3p per litre on fuel duty recently. You have to conclude that he was aware of a forthcoming rise in prices anyway. With a 5p rise at the pumps since the New Year, George has got his 3p extra per litre now.

GentleGiant_2

redux wrote: »

Blame David Cameron and his referendum fetish.

Stupid prat shoots his mouth off about something he wants to do years in the future, pound goes down several cents against the euro, fuel retail price here goes up.

And are you sure it's only 5 pence? Some of the diesel around here seems to be up 6 or 8, though a handful of places aren't as bad.

Actually the pound went down due to officials at the bank of England making comments!

Nothing to do with our PM.

Learn to get the facts straight before looking like a fool.....

Oh and fuel is priced in Dollars and not Euros.....

redux

GentleGiant wrote: »

Actually the pound went down due to officials at the bank of England making comments!

Nothing to do with our PM.

Learn to get the facts straight before looking like a fool.....

Oh and fuel is priced in Dollars and not Euros.....

Mr Weale's comments were on this last weekend.

This thread was started last week, and there have already been bouts of the pound falling

14 Jan http://www.bloomberg.com/news/2013-01-14/pound-weakens-to-9-month-low-versus-euro-amid-debate-on-eu-role.html

“Right now there’s not a lot of good news out of the U.K. and foreign investors don’t understand what the prime minister is trying to do vis-a-vis Europe,” said one fund manager

1st Feb http://www.bbc.co.uk/news/business-21302776

And as for your patronising comments about currency, the price of crude oil per barrel might be in dollars, but retail comparisons across Europe are convenient in Euros. That's also where it's imported from (or Russia) if we don't have enough made here, which seems to said in respect of diesel, or where UK exports of petrol might most likely go to