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Petrol now 99.7p a litre
Comments
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Great news the falling of the price in oil. I hope it goes lower and stays there for a good few years0
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Graham_Devon wrote: »Is there anything you can't create an argument about!?
Yes, lots of things.0 -
Graham_Devon wrote: »Hurrah!
Two petrol stations have now reduced petrol to 99.7p a litre. They are Harvest service stations in Birmingham.
Just spreading some positive cheer.
Should certainly help people out.
Just shows how things change. A year ago, who'd have suggested that just after Christmas 2014 petrol would hit 99p a litre!?
We simply never know what's around the corner.
It might be good news for you.
It might be good news for Graham Devons. Driving their gas guzzling tractors around the West Country.
But is it good news for the whales? Is it good news for the dolphins? Is it good news for the polar ice caps?
No, Graham. It is not.0 -
jjlandlord wrote: »Obviously he must find some BS to tell, right?....
Don't know. But you were the one who viewed his "clear message" on the $100 thing with approval. Can't help it if you don't like the rest of his message.jjlandlord wrote: »....
In any case, my point remains:
It seems that for environmental reasons we would be better off drastically reducing our oil consumption....
That's right. There are billions of barrels of oil that we are going to have to leave in the ground if we are going to meet those climate change targets. On that basis, oil is not, as is commonly believed, a scarce and valuable commodity. We actually have available more oil than we will ever use, and some of it will end up being worth nothing.jjlandlord wrote: »....
For geo-political and security reasons the West would be much better off not buy any oil from the Middle East, especially Saudi Arabia and the Gulf states.
Cheap oil does not help on either issue and thus is bad news.
I remain unconvinced by your argument.0 -
Don't know. But you were the one who viewed his "clear message" on the $100 thing with approval. Can't help it if you don't like the rest of his message.
Ah so you're being passive aggressive. Sorry I broke the praises for cheap oil that this thread in fact is.
When someone like that guy (or any other powerful figure) makes a statement there is what they say at face value, and there are several levels.
When he says that he does see oil price at $100 again, or when he tells us why they did not cut production, well, one does not need to be Einstein to understand the actual strategy and message.That's right. There are billions of barrels of oil that we are going to have to leave in the ground if we are going to meet those climate change targets. On that basis, oil is not, as is commonly believed, a scarce and valuable commodity. We actually have available more oil than we will ever use, and some of it will end up being worth nothing.
Let's not already start with strawman arguments, shall we?I remain unconvinced by your argument.
Well, that's my fault for not putting it convincingly.
However, I'm hoping that intelligent people see beyond my poor communication skills.
The reasons I put forward are, without saying 'obvious', quite apparent: both regarding the environment and the reality of these oil producing countries.
This thread is another example showing that many are absolutely incapable of projecting beyond the next 12 months, or even of thinking beyond the face value of things.
Petrol below £1? Great.
Of course we all prefer cheaper bills. However let's keep the full price in mind: We will have to pay it (and we already have been paying it).0 -
I looked at my cheapest place when I popped out yesterday. Unleaded 104.9, diesel 114.90
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There must be enormous profits to be made when the price of oil drops like this. Motorists are used to the price being high so dropping it only a bit keeps them happy yet they retain an enormous profit margin.
How can they justify such a large variation in price across the country? People should be angry at times like this not when the price goes up through factors they have no control over.0 -
jjlandlord wrote: »Obviously he must find some BS to tell, right?
In any case, my point remains:
It seems that for environmental reasons we would be better off drastically reducing our oil consumption.
For geo-political and security reasons the West would be much better off not buy any oil from the Middle East, especially Saudi Arabia and the Gulf states.
Cheap oil does not help on either issue and thus is bad news.
The oil is cheap, in part, because consumption has fallen.0 -
There must be enormous profits to be made when the price of oil drops like this. Motorists are used to the price being high so dropping it only a bit keeps them happy yet they retain an enormous profit margin.
How can they justify such a large variation in price across the country? People should be angry at times like this not when the price goes up through factors they have no control over.
AIUI a large part of the variation comes from some people, especially but not only supermarkets, using petrol as a loss leader.
Anyway, the joy of the capitalist system is that if you don't like the price here, buy it there.0 -
There must be enormous profits to be made when the price of oil drops like this.....
On the contrary, I'd have thought there must be enormous losses to be made. After all, you load up your tanker in Saudi with a million barrels at $60 a barrel. By the time you get to Milford Haven two weeks later it's $50 a barrel, and you've just lost $10 million dollars.... Motorists are used to the price being high so dropping it only a bit keeps them happy yet they retain an enormous profit margin.....
Who retains an "enormous profit margin"? Retailers only make a few pence a litre....How can they justify such a large variation in price across the country? People should be angry at times like this not when the price goes up through factors they have no control over.
Off the top of my head, I'd say it depends on local supply and demand. If you have a petrol station in Birmingham and cut the price 0.2p a litre, you'll have motorists queing to fill up. Try that in Banff and it won't make the slightest difference. You've already got 100% of the local market, and the local market is so small, that you have to charge a premium in order to make enough margin to stay in business.AIUI a large part of the variation comes from some people, especially but not only supermarkets, using petrol as a loss leader.....
A loss leader you say? So no enormous profit margins to be found there then....Anyway, the joy of the capitalist system is that if you don't like the price here, buy it there.
If you can. Obviously that might be a bit tricky if you live in Banff or wherever.0
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