Inflation, Inflation, Inflation...

A_Medium_Size_Jock

Nick_C wrote: »

Yes, but that's a very short term view. I filled up last week and paid £1.15 for Diesel. Still cheaper than at any time between April 2010 and May 2015, when my fuellings averaged £1.32 and peaked at £1.50.

Quite so - in fact there is a new "price war" starting today it would appear, meaning unleaded is £110.7 ppl:
http://www.telegraph.co.uk/news/2016/11/14/petrol-price-war-as-four-of-britains-biggest-supermarkets-announ/

mayonnaise

Nick_C wrote: »

Still cheaper than at any time between April 2010 and May 2015,

....when crude oil was priced at 90-120 USD/bbl.
And some here are getting excited about pump prices of £1.10 with oil at USD45-50/bbl. :cool:

A_Medium_Size_Jock

mayonnaise wrote: »

....when crude oil was priced at 90-120 USD/bbl.
And some here are getting excited about pump prices of £1.10 with oil at USD45-50/bbl. :cool:

Er, again no.
Simply that some here refute claims that petrol and diesel prices are at the highest for .................

wotsthat

A_Medium_Size_Jock wrote: »

Simply that some here refute claims that petrol and diesel prices are at the highest for .................

I provided a link which supported my claim that prices were at their highest level this year.

wotsthat

A_Medium_Size_Jock wrote: »

Quite so - in fact there is a new "price war" starting today it would appear, meaning unleaded is £110.7 ppl:
http://www.telegraph.co.uk/news/2016/11/14/petrol-price-war-as-four-of-britains-biggest-supermarkets-announ/

Sub $50 oil and a price war gives us 'bargain' prices of £1.10/ litre. Wow!

A_Medium_Size_Jock

wotsthat wrote: »

I provided a link which supported my claim that prices were at their highest level this year.

"Were".
Not "are".

wotsthat: "Sub $50 oil and a price war gives us 'bargain' prices of £1.10/ litre. Wow!"

You would rather see £1.50/ litre again?

wotsthat

A_Medium_Size_Jock wrote: »

"Were".
Not "are".

Yes, petrolprices.com won't be releasing their figure for November until the month is finished. Be interesting to see the effect of this price war.

A_Medium_Size_Jock wrote: »

You would rather see £1.50/ litre again?

Actually I would.

Prices aren't at an all-time high so £1.10 is better than £1.50 for people who want lower prices. It's the glass half full way of looking at it but I assume you'd rather be looking at sub £1 petrol which it may well have been without Sterling's collapse?

Nick_C

A_Medium_Size_Jock wrote: »

You would rather see £1.50/ litre again?

While I'm personally happy that prices dropped - I'm paying £250 a year less than I was at the peak - I do think George Osborne missed a trick by not varying fuel tax to keep the pump price high and stable. We all got used to paying high prices, and the additional revenue could have been used to further reduce the budget deficit.

When prices were high, I noticed a lot of people driving between 60 and 70 on motorways and A roads, presumably to get better fuel economy.

The_Last_Username

wotsthat wrote: »

Prices aren't at an all-time high so £1.10 is better than £1.50 for people who want lower prices. It's the glass half full way of looking at it but I assume you'd rather be looking at sub £1 petrol which it may well have been without Sterling's collapse?

I wonder where you get that from?
Oil fell below $30/barrel in January this year, before the referendum and before devaluation, or "collapse" as you describe it.
Which is when petrol pricing fell below £1/litre.
So why do you think it should be below £1/litre now when oil is mid-40's per barrel?

It really does appear that you are determined (like others) to see doom and gloom where there is none.
Glass half full?
You're having a laugh!

wotsthat

The_Last_Username wrote: »

I wonder where you get that from?
Oil fell below $30/barrel in January this year, before the referendum and before devaluation, or "collapse" as you describe it.
Which is when petrol pricing fell below £1/litre.
So why do you think it should be below £1/litre now when oil is mid-40's per barrel?

It really does appear that you are determined (like others) to see doom and gloom where there is none.
Glass half full?
You're having a laugh!

Sterling has collapsed and oil is c50%(?) more expensive than January. Therefore petrol is somewhat more expensive than it would otherwise be.

Worth a mention on a thread about inflation?