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MSE News: Further petrol price cuts at Asda bring RAC's predicted £1 a litre closer

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MSE News: Further petrol price cuts at Asda bring RAC's predicted £1 a litre closer

edited 30 November -1 at 12:00AM in Motoring
13 replies 1.7K views
Former_MSE_PalomaFormer_MSE_Paloma News reporter
531 posts
I've been Money Tipped! Newshound!
edited 30 November -1 at 12:00AM in Motoring
"Asda will cut petrol prices by 2p/litre from tomorrow, bringing prices to a five year low at its forecourts ..."
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Further petrol price cuts at Asda bring RAC's predicted £1 a litre closer

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  • http://www.telegraph.co.uk/finance/newsbysector/energy/11308952/Opec-Oil-plummets-after-Saudis-says-20-crude-is-possible.html




    With a beard, these OPEC guys could dress up as Santa Klaus.
    Cheap oil: the perfect Christmas present.
  • aldreddaldredd
    925 posts
    Forumite
    It may seem like that - and I'm by know means complaining - but not for one moment should anyone think Opec are being 'nice' by maintaining output levels (which is what is keeping prices low).

    Their hope is that it'll scare off investments in other sources of oil and gas (eg, Shale in the US), which would have a bigger, longer term impact on the Opec countries than seeing prices drop to where they are now. They're playing the long game for sure.
  • bod1467bod1467 PPR
    15.2K posts
    PPR
    Oh look! Another supermarket advert. ;)
  • aldredd wrote: »
    It may seem like that - and I'm by know means complaining - but not for one moment should anyone think Opec are being 'nice' by maintaining output levels (which is what is keeping prices low).

    Their hope is that it'll scare off investments in other sources of oil and gas (eg, Shale in the US), which would have a bigger, longer term impact on the Opec countries than seeing prices drop to where they are now. They're playing the long game for sure.

    Absolutely agree. OPEC are a bunch of blood sucking vermins.
  • I thought the Saudi's were playing ball with the EU/American plan to teach Putin a lesson (yeah right, good luck with that one, Russia aint Libya/Iraq) for not bending over and accept another EU/NATO in Ukraine.

    Must ask the MSM what to think.
  • Paul_HerringPaul_Herring
    7.2K posts
    Forumite
    Part of the Furniture 5000 Posts Name Dropper Photogenic
    ✭✭✭✭
    At £1.00 a litre:

    16.67p is VAT
    58p is excise duty.
    25.33p is the actual petrol.

    Anyone got any opinions on how else the price could be lowered?
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • At £1.00 a litre:

    16.67p is VAT
    58p is excise duty.
    25.33p is the actual petrol.

    Anyone got any opinions on how else the price could be lowered?

    You forgot the fuel station's profit margin.
  • bod1467bod1467 PPR
    15.2K posts
    PPR
    You forgot the fuel station's profit margin.

    That'll be part of the 25.33p. ;)
  • fivetidefivetide
    3.8K posts
    Forumite
    bod1467 wrote: »
    That'll be part of the 25.33p. ;)

    Don't forget that price is set by the company that refined it... so in a lot of cases, the owner of the station. That's where the oil companies make their money.


    Just a shame that prices of oil have dropped by a half but the price of petrol hasn't.
    What if there was no such thing as a rhetorical question?
  • 20aday20aday
    2.5K posts
    Forumite
    PPI Party Pooper
    I work in an independent petrol station behind the counter (so I've no idea about margins etc) but it's great to see prices heading back towards £1 per litre.

    A while ago people scoffed at me when I said I believed prices would fall from their record highs back towards the £1 mark...
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
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