MSE News: 'Asda's petrol prices to fall to their lowest level since 2010'

India_Addict

Tesco may be reducing price of petrol but how come last week my clubcard had 7p litre off petrol use by end of November but this week (having purchased no fuel) was only 6p per litre use by end of November? When I asked them they told me it was an error since start of the scheme and should have been issued in 2p amounts only. Confused as if I had filled up the day before would have got the extra 1p off a litre!

NYGiants

India_Addict wrote: »

Tesco may be reducing price of petrol but how come last week my clubcard had 7p litre off petrol use by end of November but this week (having purchased no fuel) was only 6p per litre use by end of November? When I asked them they told me it was an error since start of the scheme and should have been issued in 2p amounts only. Confused as if I had filled up the day before would have got the extra 1p off a litre!

My Tesco receipt always shows the discount in single pennies, but the discount is in increments of 2p (as per their terms and conditions). A few times I've had a discount of 5p and 7p showing on the receipt but only got a 4p and 6p per litre reduction respectively at the pumps.

I think it's just a visual thing to show the discount adding up, but it always rounds it down to the nearest 2p increment.

Ectophile

A._Badger wrote: »

In Hastings, East Sussex, an Esso station more or less next door to a Sainsbury's has closed for repairs. Sainsbury's has used the opportunity to increase its prices.

They are all rogues and MSE does its readers no favours by keep publicising their fatuous press releases.

That's odd. I filled up at that Sainsbury's yesterday, and they were dirt cheap - 119.9p/litre. :huh: That's cheaper than I have seen for ages.

It was also 3p/litre cheaper than Tesco, which makes a mockery of the 2p/litre discount I earned over the last month.

redux

londonTiger wrote: »

i wsonder how much of this was a delayed reduction related to scottish independance. It's possible that speculators prepared for a Scottish exit from the UK which would no longer oblige it to sell oil within UK first and foremost.

Now that Scotland's future is settled it could be causing a lot of built up stock to be released to the market

Fuel doesn't get stockpiled in large quantities. What would be the point? The cost of extra storage capacity would be far greater than any speculative profit possible long term.

colino

There is currently a glut of crude worldwide and the US is leading the way with fracking. Why is the price of fuel in the UK so high when crude is at its lowest price in four years? Easy, because the UK market has been tested and there appears to be no price level that actually makes users buy much less of it.

sh0597

Not really, the price of oil is a far smaller portion of the cost of fuel in the UK compared to other countries.


We don't produce a lot of oil and we don't have many refineries especially for diesel. We have high tax on fuel too. The cost of crude simply isn't a great factor.

A._Badger

sh0597 wrote: »

Not really, the price of oil is a far smaller portion of the cost of fuel in the UK compared to other countries.


We don't produce a lot of oil and we don't have many refineries especially for diesel. We have high tax on fuel too. The cost of crude simply isn't a great factor.

True to a point (and we'll have one fewer refineries very shortly, when Murco shuts its sole plant). The greatest factor, by far, is taxation. But if people keep voting for profligate government, that's what they get in return.

colino

Didn't take long for the tax argument to come out. Do you want to convert to more local taxes, higher VAT and PAYE then? It is the British model to forget about all other tax streams and focus on PAYE to get votes come election time. The energy companies PR teams are working a treat.

sh0597

I don't mind the tax on fuel. We don't want to encourage fuel consumption as it's mostly imported. We just have to accept that fuel will be expensive in the UK.