Fuel prices at the pumps should have goen down weeks ago not up

diystarter7

It's been almost 4 weeks since the price of oil started falling and all we have had is increase after increase.

This is clearly profiteering in one of its ugliest guises 

Some car clubs have been banging on about motorists being overcharged.

I'm lucky in the sense I use my car daily but short trips and on some of those trips I/we could easily walk but we don't. However, there
are people who have no choice and their fuel bills have almost doubled.

Who can we approach to get action?

Linton

The crude oil price has only been dropping for about 2 weeks.  This fall could easily reverse.
Your car doeds not run very well on crude oil.
There are a limited number of oil refineries
Many of the oil refineries that meet European demand are in Russia or are designed to operate on Russian crude oil in ex-USSR  or nearby countries.  Their output is restricted by the sanctions imposed on Russia.
Demand for fuel is increasing as world trade recovers from the Covid restrictions
and probably other factors as well.

What actions would you suggest?

Freecall

diystarter7 said:

It's been almost 4 weeks since the price of oil started falling.....

The price of crude oil is quoted in US$ but over that same period the GB£ has been falling against the dollar.  In fact, as of today, the fall in the £ is slightly greater than the peak to today oil price.

Not a lot in it really.

diystarter7

So are the motoring orgs wrong?

The price of oil was higher 20/25 years ago and price of fuel was fraction of the price at the pumps.

Yes, Boris takes 46% but the oil co's can't be making the billions if there was no mass profit.

Car_54

diystarter7 said:

So are the motoring orgs wrong?

The price of oil was higher 20/25 years ago and price of fuel was fraction of the price at the pumps.

Yes, Boris takes 46% but the oil co's can't be making the billions if there was no mass profit.

As has been explained above, two significant things have happened over the last 20-25 years. First, the £ has fallen  against the $, so the oil price in £ in the UK has actually gone up. Second, every other cost along the supply chain has gone up (maybe doubled) - energy, transport, wages, etc. - over that period.

The oil companies are making higher profits because they're pumping oil out of the ground. Their production costs are much the same as they were last year, but they can sell the oil at a much higher price.

Grumpy_chap

The OP may find these recent threads interesting:

https://forums.moneysavingexpert.com/discussion/6365840/rising-fuel-prices-government-assistance-none/p1

https://forums.moneysavingexpert.com/discussion/6365128/petrol-diesel-price-increases/p1

The OP seems fortunate in that they can choose alternatives for their journeys, it would seem.

EssexExile

It's the way the world works, companies charge as much as they can and still sell. If it doesn't sell they reduce the price, it if sells too easily they increase the price.

Megaross

Fact is motorists are treated like a cashpoint and have been for decades. Rightly or wrongly we will get fleeced for driving.

Especially in this day and age of ecoists insisting everyone become a millionaire and buy a £100k milkfloat you couldn't drive the breadth of the country in because range is such a joke. 

On the upside I always get a kick out of the "glamourous" life of tesla owners, sat in their car looking bored in tesco carpark while it charges.

Sea_Shell

Before Rishi announced his 5p off fuel duty, prices around here, for unleaded were about 164p.  They came down to 158p.

This was supposed to help people, with the "high" price of fuel at 164p

If people were struggling to afford 164p, then somehow, I don't think they are going to be able to afford 191p, like it now is round here.

I don't expect the government to do that much more TBH, as at the end of the day, they can't pay all our bills for us and take away the pain, but they might throw a few more scraps at another duty reduction, of a few pence.

No such thing as a "free lunch" so it will all need to be paid back, somehow, sometime.   

Regardless of your personal financial situation, no one "likes" having to pay more for essentials, as it takes away money that we could otherwise spend on "nice" things.   Sadly, some already don't have a budget for any "nice" things.

We could argue all day about whether a car is an "essential", as for some it definitely is, but for others its a nice to have.

sevenhills

Megaross said:

Fact is motorists are treated like a cashpoint and have been for decades. Rightly or wrongly we will get fleeced for driving.

The last time I googled it said motoring is cheaper now than 30/50 years ago 

diystarter7

Megaross said:

Fact is motorists are treated like a cashpoint and have been for decades. Rightly or wrongly we will get fleeced for driving.

Especially in this day and age of ecoists insisting everyone become a millionaire and buy a £100k milkfloat you couldn't drive the breadth of the country in because range is such a joke. 

On the upside I always get a kick out of the "glamourous" life of tesla owners, sat in their car looking bored in tesco carpark while it charges.

Great post, thanks.