£1.65 for super yesterday. Not the highest I’ve seen the past few months but not far off.
It’s about time VAT was cut from fuel, given that how everything else is also going up.
Must be cheaper down south for fuel or something. Petrol has been at that for a while and diesel is 160p.
That’s fine. A hike in petrol prices is a small price we can all pay to fuck Russia off, and maybe incentivise more funding to go into the renewable sector too. Yknow, so we’re not reliant on any other dictatorships further down the line
Well, we know this is coming, don’t we? It’s time to show which side are you on with your real wallet, not with internet petitions or hashtags.
If this is the price we have to pay to punish a warmongering county then so be it. I just hope we learn not to keep relying on countries like Russia for supplies.
Any excuse to raise the prices.
I doubt its any less difficult to get the petrol, this is war profiteering.
There’s always a point of confusion here for me.
Is leaded petrol still a thing?
The majority of the cost of petrol is government profiteering. Actual petrol would be .50-60p/L If not for the government.
And you didn’t hedge this with calls on crude oil futures?
Except if you check the indexes it really isn’t ‘surging’ and only showing a more modest 3% gain which takes it back to lower than last week…..
Why doesn’t the rise come out of their record breaking profits…. Government should and can intervene.
Brilliant. Everything is just brilliant. Who’s panicking? Not me, no not panicking at all….. please pass the paper bag when your finished……Aaaaaaaarrrrrrrrrrrrgggggggghhhhhhh
Where have you been getting unleaded for less than 150p a litre in the past few months?
The IEA predicts the price to go back down in Q3 though, plus people seem to forget Irans sanctions might end soon, and US shale will come back online now the price is higher.
Of course, I could be wrong and it says this high, but a similar thing happened in 2014.
I saw a motorway service station with petrol at 177. Disgusting.
Everything is an excuse to charge people more for less service.
Oh no guys, ANOTHER crisis, and yet again another couple of megacorps will be making record profits. Who could have seen this coming?
Might be less pollution and a bit more exercise going on then. It’s still not a good thing, just trying to find the positives.
Guess who’s a major supplier of global oil supplies?
Russia.
The UK can only achieve energy security by decoupling itself from fossil fuels, where their supplies are increasingly locked behind difficult geopolitical actors who don’t have our interests at heart.
Why does increase in fuel relate to Ukraine and Russia, I thought only 3% of our oil comes from Russia?
Glad to have an EV right now. General electricity prices will probably rise too, but almost certainly less.
So when the price goes down they “have to use up what’s in the tanks” before passing it on to us.. but when it goes up they pass it on within an hour
So with electricity now suddenly costing 30p/kwh with the latest increase is it now suddenly a much better idea to buy solar? Or has the price of getting that suddenly massively gone up in price too? Bit hard to research solar costs since prices seem to all be from around 2 years ago and a lot has changed since then.
But how can this be? The fuel is bought weeks in advance so any rise now shouldn’t be impacting the price until late March? Surely the oil companies wouldn’t be so dastardly that they put prices up early and take extra profit?
It’s going to get a lot worse before it’ll get better, if they’ll ever drop the prices back to what they were before (120/130p ish)
The humblebragging in this thread about EVs and running costs seems a little disconnected from reality.
Since my fix ended my electricity rate has doubled and that includes the night rate.
Petrol is up what, 10%?
You watch, record profits end of Q1 will get reported.
They’re flat out, 100% inflating prices to make up losses during the pandemic. They rise prices the second oil rises, but take months to lower them when it drops, citing buying in bulk at the lower price and have to use it up before they buy up the next batch and prices will be reflected at the pumps.
So basically admitting that upping prices the second oil rises isn’t needed, and is pure greed. Cunts.
Never knew all our petrol came from Kyiv…. Oh wait it comes from nowhere near Ukraine.
This is nothing more than waiting for a news event then price gouging.
just in time for red diesel to become extremely restricted
People asking why we don’t cap the price at the pump or get the oil majors to pay for it from their profits. You need to consider who you’re buying the petrol and diesel from
The upstream is where all the super profits are made. The exploration and extraction. They are the ones selling at the wholesale price into the midstream. Where the oil is refined into the stuff we actually use.
The refiners are paying the increased wholesale price. And as such passing this onto the downstream. The petrol stations.
Who then pass that price rise onto you and me.
Great. Take the profits at the top and subsidise the bottom. Except.
In the UK the main British (or part British) upstream companies BP and Shell don’t own any refineries. They also don’t own any of the petrol stations. The ones with their name on are independently owned franchises.
So there’s no particularly easy way for non-connected companies to pass down profits from the top to the bottom.
Also as has been mentioned the wholesale price is the wholesale price. It’s determined by the market. And that’s just the basis for trading the oil. Different traders will push the actual transaction value up to get the product.
The only way this works is that the government takes a super tax from the likes of BP and applies this to funding a subsidy on petrol stations.
BP et al would argue that doing this would be unfair on them as there is no government support in place when wholesale price crashes and the upstream lose revenue. I however. Would vote for some redistribution of those upstream profits to subsidy at the ground level
But it would be difficult to do and wouldn’t trust our government to either do it. Or not fuck it up.
I paid 144 for a litre of diesel yesterday from Costco. 150 for petrol is shocking.
I’m glad the uk had its shit together so something as small as a 10p rise in fuel won’t totally cripple us and put people under the poverty line /s
33 comments
£1.65 for super yesterday. Not the highest I’ve seen the past few months but not far off.
It’s about time VAT was cut from fuel, given that how everything else is also going up.
Must be cheaper down south for fuel or something. Petrol has been at that for a while and diesel is 160p.
That’s fine. A hike in petrol prices is a small price we can all pay to fuck Russia off, and maybe incentivise more funding to go into the renewable sector too. Yknow, so we’re not reliant on any other dictatorships further down the line
Well, we know this is coming, don’t we? It’s time to show which side are you on with your real wallet, not with internet petitions or hashtags.
If this is the price we have to pay to punish a warmongering county then so be it. I just hope we learn not to keep relying on countries like Russia for supplies.
Any excuse to raise the prices.
I doubt its any less difficult to get the petrol, this is war profiteering.
There’s always a point of confusion here for me.
Is leaded petrol still a thing?
The majority of the cost of petrol is government profiteering. Actual petrol would be .50-60p/L If not for the government.
And you didn’t hedge this with calls on crude oil futures?
Except if you check the indexes it really isn’t ‘surging’ and only showing a more modest 3% gain which takes it back to lower than last week…..
Why doesn’t the rise come out of their record breaking profits…. Government should and can intervene.
Brilliant. Everything is just brilliant. Who’s panicking? Not me, no not panicking at all….. please pass the paper bag when your finished……Aaaaaaaarrrrrrrrrrrrgggggggghhhhhhh
Where have you been getting unleaded for less than 150p a litre in the past few months?
The IEA predicts the price to go back down in Q3 though, plus people seem to forget Irans sanctions might end soon, and US shale will come back online now the price is higher.
Of course, I could be wrong and it says this high, but a similar thing happened in 2014.
I saw a motorway service station with petrol at 177. Disgusting.
Everything is an excuse to charge people more for less service.
Oh no guys, ANOTHER crisis, and yet again another couple of megacorps will be making record profits. Who could have seen this coming?
Might be less pollution and a bit more exercise going on then. It’s still not a good thing, just trying to find the positives.
Guess who’s a major supplier of global oil supplies?
Russia.
The UK can only achieve energy security by decoupling itself from fossil fuels, where their supplies are increasingly locked behind difficult geopolitical actors who don’t have our interests at heart.
Why does increase in fuel relate to Ukraine and Russia, I thought only 3% of our oil comes from Russia?
Glad to have an EV right now. General electricity prices will probably rise too, but almost certainly less.
So when the price goes down they “have to use up what’s in the tanks” before passing it on to us.. but when it goes up they pass it on within an hour
So with electricity now suddenly costing 30p/kwh with the latest increase is it now suddenly a much better idea to buy solar? Or has the price of getting that suddenly massively gone up in price too? Bit hard to research solar costs since prices seem to all be from around 2 years ago and a lot has changed since then.
But how can this be? The fuel is bought weeks in advance so any rise now shouldn’t be impacting the price until late March? Surely the oil companies wouldn’t be so dastardly that they put prices up early and take extra profit?
It’s going to get a lot worse before it’ll get better, if they’ll ever drop the prices back to what they were before (120/130p ish)
The humblebragging in this thread about EVs and running costs seems a little disconnected from reality.
Since my fix ended my electricity rate has doubled and that includes the night rate.
Petrol is up what, 10%?
You watch, record profits end of Q1 will get reported.
They’re flat out, 100% inflating prices to make up losses during the pandemic. They rise prices the second oil rises, but take months to lower them when it drops, citing buying in bulk at the lower price and have to use it up before they buy up the next batch and prices will be reflected at the pumps.
So basically admitting that upping prices the second oil rises isn’t needed, and is pure greed. Cunts.
Never knew all our petrol came from Kyiv…. Oh wait it comes from nowhere near Ukraine.
This is nothing more than waiting for a news event then price gouging.
just in time for red diesel to become extremely restricted
People asking why we don’t cap the price at the pump or get the oil majors to pay for it from their profits. You need to consider who you’re buying the petrol and diesel from
The upstream is where all the super profits are made. The exploration and extraction. They are the ones selling at the wholesale price into the midstream. Where the oil is refined into the stuff we actually use.
The refiners are paying the increased wholesale price. And as such passing this onto the downstream. The petrol stations.
Who then pass that price rise onto you and me.
Great. Take the profits at the top and subsidise the bottom. Except.
In the UK the main British (or part British) upstream companies BP and Shell don’t own any refineries. They also don’t own any of the petrol stations. The ones with their name on are independently owned franchises.
So there’s no particularly easy way for non-connected companies to pass down profits from the top to the bottom.
Also as has been mentioned the wholesale price is the wholesale price. It’s determined by the market. And that’s just the basis for trading the oil. Different traders will push the actual transaction value up to get the product.
The only way this works is that the government takes a super tax from the likes of BP and applies this to funding a subsidy on petrol stations.
BP et al would argue that doing this would be unfair on them as there is no government support in place when wholesale price crashes and the upstream lose revenue. I however. Would vote for some redistribution of those upstream profits to subsidy at the ground level
But it would be difficult to do and wouldn’t trust our government to either do it. Or not fuck it up.
I paid 144 for a litre of diesel yesterday from Costco. 150 for petrol is shocking.
I’m glad the uk had its shit together so something as small as a 10p rise in fuel won’t totally cripple us and put people under the poverty line /s