Fuel prices and the war in Iran/ Lebanon

dredski

Why are fuel prices increasing when the product is the same as yesterday?; i.e. not affected by an increase in crude prices.

El_Torro

Oil companies and retailers are putting the price up in anticipation of the global price of crude oil going up. To justify this they only need to point at what is being shown on the news.

In other words: Prices are going up because they can.

WellKnownSid

Selling a product at the price you paid to buy it is a fast trip to bankruptcy land. You would never be able to afford to replace it!

QrizB

Crude oil prices are up, so refineries have to pay more to buy it.

As a result, refineries have to charge more for the petrol and diesel they produce, else they'd make a loss.

So garages have to pay more to their wholesalers when buying fuel, and they then charge motorists more in turn.

The real scandal is heating oil which is up about 90p a litre and is now a similar price to road diesel despite not being liable to road fuel duty.

i.e. not affected by an increase in crude prices.

I don't know why you think crude oil prices don't affect road fuel prices. Perhaps you can explain your reasoning?

Woodstok2000

https://forums.moneysavingexpert.com/discussion/comment/81912504#Comment_81912504

I don't think they're arguing there's no impact. The way i read it is that they're questioning why fuel prices are going up already when the oil used to produce that fuel was purchased before prices went up.

Baldytyke88

I was low on diesel, so I got £80 worth, which will last me over a month; but how often should someone fuel their vehicle?

I will be carrying that fuel for weeks or months, is that wise?

flaneurs_lobster

I will be carrying that fuel for weeks or months, is that wise?

No, the weight of the diesel will make the car cost more to run.

Better to keep it in the bath.

35har1old

https://forums.moneysavingexpert.com/discussion/comment/81912504#Comment_81912504

Some of the smaller heating oil companies are finding that they are loosing money due to a higher demand and the price that they have quoted to supply at when they go to purchase the price has increased beyond the price agreed

WellKnownSid

https://forums.moneysavingexpert.com/discussion/comment/81912504#Comment_81912504

The real scandal is heating oil which is up about 90p a litre and is now a similar price to road diesel despite not being liable to road fuel duty.

I managed to get through on Monday and buy 1,500 litres to see us over the Summer at 77p/litre. My neighbour called at the end of the day and paid over £1.20.

Road fuel price shocks are limited because the duty is so high. Heating oil is a much smaller supply chain, not built to cope with anything beyond seasonal demand changes, with no duty masking the price rise.

paul_c123

Because they can.

forgotmyname

Fuel prices increased when the ISSA brothers bought ASDA and increased their profit on fuel and other supermarkets followed suit.

Prior to that they made very little profit on fuel. When the government dropped the duty by 5p the supermarkets added 6p onto the price.

MATT cartoon from one of the newspapers the other day showed a man hoarding fuel and his wife saying why are you doing that
when we have an electric vehicle which is possibly closer to the truth than be think possible. Lots of fuel shortage scare stories
popping up.

Years back I stopped for fuel on the way home and there was a guy filling multiple fuel cans which I thought odd, when I got home
and put the TV on it clicked that it was the budget. Unluckily for that guy they dropped the duty on petrol by 2p.