Buying fuel in advance

suicidebob

Why not just pop down to William Hill and stick £50 on Acid Reflux in the 2.40?

EdGasket

You can do this quite easily with a future trade or spread-bet on crude oil, brent crude or heating oil, whichever takes your fancy. However I would recommend you don't do it as the oil price has already recovered a little from its low and you don't know which way it will go. Also if you get hooked on spread-betting, it's a one-way ticket to penury.

jimjames

AdrianC wrote: »

What would be the benefit for the seller? Seems to me that it's all downside for them...

"Excuse me, can I pay for petrol at £1.10/litre, and actually have it once it's gone up enough that you're paying more than that...?"

Benefit I can see is that they have your money in advance. But that's unlikely to outweigh the change in price.

You could always buy a petrol tanker and park it up while you wait for the price to increase.

colino

You could do a John Denver and store it for the apocalypse, otherwise you take up investing in futures.

Strider590

ACG wrote: »

You could buy a few of these?
http://www.ebay.co.uk/itm/200-Litre-Steel-Oil-Drums-/111548387183?pt=UK_BOI_Containers_Pre_Fab_Buildings_ET&hash=item19f8cd4f6f

Im not sure how legal it would be to have that much fuel in your garage though.

Since some daft cow set herself on fire trying to transfer fuel between plastic containers in her kitchen, not very legal at all.

bugslet

AdrianC wrote: »

"Excuse me, can I pay for petrol at £1.10/litre, and actually have it once it's gone up enough that you're paying more than that...?"

tight_scotsman wrote: »

I think you mean fuel bunkering. We use them to fuel coaches when away from the depot. BP ,SHELL ,DKV. The idea is you purchase say 20000 litres of fuel from one of the above companies and driver use a fuel card to draw fuel at one of their sites. Im not sure what the minimum amount you can purchase in advance. But no harm in asking

As TS says, yes you can buy it up front and put it in a bunkering system. We use 4000 litres plus a week ( excluding DKV abroad) and usually buy a months worth in one go. If for some reason, work went down that pan, I could draw that fuel next December.