Petrol prices across the UK have hit new highs despite a drop in wholesale costs since the jubilee weekend.
The average pump price for petrol reached 188.70p a litre on Sunday. A week earlier it was 185.04p and on the same day last year 131.10p.
Luke Bosdet, the AA’s spokesman on pump prices, said: “Since the jubilee, the wholesale cost of petrol has fallen. That is over a period that the oil industry says is long enough for changes in costs to start to be reflected at the pump. And yet the average price of petrol across the UK hasn’t even levelled out — it has continued to rise to new records.
“UK consumers who use cars deserve to be treated so much more fairly by the road fuel trade. If forecourts don’t start to lower petrol prices this week it will be a disgrace.”
Diesel has also continued to rise, averaging 196.06p a litre on Sunday. A week earlier it reached 190.92p and on the same day 12 months ago it was 133.47p a litre.
Simon Williams at the RAC said: “This is yet more bad news for drivers, particularly with this week’s rail strikes leaving many people with no choice but to use their cars. But looking at the wholesale cost of petrol, which has settled because of the oil price falling, petrol pump prices really should not continue to rise. If anything they ought to begin reducing.”
In the past 2 years all businesses, not just petrol, have gotten used to increasing prices for whatever reason the Daily Mail tells them is expected, but they also know they don’t have to drop them again, people will pay it regardless because they have no alternative. They’ve basically been able to cram 10 years worth of price increases into 2 years and they got away with it while also posting record profits. They only get criticism but that’s as far as it goes, they can live with that because the profits are the highest they’ve ever been for them.
It’s crazy how people just easily accepted this pricing hike… it’s been like this since the fabricated “fuel shortage”
Greedy companies are greedy, next up….water is wet and how that’s still, somehow, Jeremy Corbyn’s fault.
Unleaded 189.9 and diesel 199.9 in all the garages here.
Will soon have to get a horse and cart.
At this rate the price of Brent Crude could drop back well below 100USD a barrel and we’d still be paying upwards of 150p/l because…profit.
Its not just garages and oil companies, its also the ridiculous tax on top of of all.
And what’s worse is that it’s still miles cheaper to drive than buy a train ticket if I want to travel long distances (strikes not withstanding).
> We can’t afford to buy a pony.
> Marge, with today’s gasoline prices, we can’t afford not to buy a pony.
A lot of people are underestimating how much petrol stations (especially independent petrol stations) are struggling.
We’re not talking about the people getting oil out of the ground here, we’re talking about people who are trying to operate a retail site where they buy petrol and sell it on with only a few pence as the margin.
Between the Covid issues of the past two years, the weeks where they couldn’t get (and therefore sell) any petrol, the general increase in their costs of doing business, their difficulty finding staff now that a huge chunk of the workforce has been told to fuck off home to Europe and the fact that a lot of their customers are trying to cut back on how much petrol they buy, these petrol stations are struggling.
On top of that, around 20% to 25% of new car sales are electric cars and this figure is set to rise to 100% in about eight years. So their businesses aren’t exactly in great long term health!
VPower is 221.3 here now
There are two ways to value something, how much it costs to produce or what people will pay for it.
We have now fully transitioned to what people will pay for it model.
So for anyone selling something, the question they have to answer is “how much will someone pay for this?”. With things like fuel and food they have tested the market and found out they were underselling themselves.
The solution, regulation on profits. It’s not going to be a popular answer, but it’s the only way to get this roller coaster back on track.
If there was an unavoidable or essential reason to put prices up or the service cannot continue, then there wouldn’t be record profits and CEO bonus rises.
Prices could be $50 a barrel in 2 or 3 years and you’ll still be paying your 200p at the pumps.
They do this because they are getting away with it.
‘Failing’ insinuates they tried.
Garages don’t pass on falling cost of petrol. Ftfy.
I was in the Canary Islands last week, their Fuel is still around the £1.20-1.30 mark. I assume they have no refineries hidden around there, so the costs of transporting it there must be huge. So either the Spanish government subsidizes them massively, or we are being gouged to fuck.
Because they know they can all get away with it. They can all make massive profits provided none of them do something stupid like cut their prices.
Well, on the plus side, at least i’m being healthier now. I just skate to work instead of paying for fuel. Drive my car once a week to go get shopping and so it doesn’t fall into disrepair.
I wonder what the future generations will be like when the oil runs out and the last bit of fuel costs an arm and a leg.
Garages **choose** not to pass on falling cost of petrol
Once prices go up they don’t come back down, just like taxes
Gas prices are finally going down in Denmark.
Local Tesco near me are up another 4p a litre today to 192.9 for petrol and 199.9 for diesel. Oil prices are currently $114 per barrel yet it’s more expensive than when it was $140 in march.
I think people could live with this if those companies weren’t posting record profits.
I work for one of the largest independent fuel transport logistics companies in the UK. The last 2 years have been record years, embracing furlough and having record profits was a fucking disaster. That shouldn’t have been allowed to happen on the scale it did. In Scotland its on allocation at Grangemouth because of production problems, so it’s went up almost 20p in 4 weeks.
Make no mistake, these are record times for these types of companies.
Big banks on the brink of going bust, here have a large sum of money.
‘Do we need to pay this back?’
No, mate, these soft cunts will pay for it and then we will cut everything for ten years and call it austerity.
We struggle, they make record profits, largest wealth transfer in history, the world isn’t right.
Summer Riots anybody?
*Diesel has also continued to rise, averaging 196.06p a litre on Sunday. A week earlier it reached 190.92p and on the same day 12 months ago it was 133.47p a litre.*
It’s 1.80 at the Tesco near me in Penwortham in Lancashire now. The article doesn’t really say what a fair price is at the pumps at the moment.
Price of oil goes down, nobody lowers fuel until pushed 4 montus later when us plebs find out.
The minute the price of oil goes up we know instantly and fuel goes up instantly.
Nobody cares about stopping this, heck its nearly £2 in st.helens, thats insane
People forget that we price oil in USD, and GBP has been doing shit. If the price of oil (in USD) stays the same, but GBP goes down, oil will cost more. GBP is down from 1.4 to 1.2 in a year.
It’s 65% tax the reason the government won’t step in and stop this. It’s £1.98 down here, we are buying an electric car now.
Well yes. everyone’s said several times that petrol stations have no incentive to pass these savings on. It’s a captive market, you can’t drive around on an empty tank looking for the cheapest petrol station, you have to use the one that’s nearby.
Frankly I’m astonished anyone was under the belief they’d pass this on. They’ve had opportunities before when fuel duty was cut or oil prices collapsed and they passed on something like 0.6 pence per 5 pence reduction, pocketing the difference.
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Article contents:
*Ben Clatworthy, June 21 2022, The Times*
Petrol prices across the UK have hit new highs despite a drop in wholesale costs since the jubilee weekend.
The average pump price for petrol reached 188.70p a litre on Sunday. A week earlier it was 185.04p and on the same day last year 131.10p.
Luke Bosdet, the AA’s spokesman on pump prices, said: “Since the jubilee, the wholesale cost of petrol has fallen. That is over a period that the oil industry says is long enough for changes in costs to start to be reflected at the pump. And yet the average price of petrol across the UK hasn’t even levelled out — it has continued to rise to new records.
“UK consumers who use cars deserve to be treated so much more fairly by the road fuel trade. If forecourts don’t start to lower petrol prices this week it will be a disgrace.”
Diesel has also continued to rise, averaging 196.06p a litre on Sunday. A week earlier it reached 190.92p and on the same day 12 months ago it was 133.47p a litre.
Simon Williams at the RAC said: “This is yet more bad news for drivers, particularly with this week’s rail strikes leaving many people with no choice but to use their cars. But looking at the wholesale cost of petrol, which has settled because of the oil price falling, petrol pump prices really should not continue to rise. If anything they ought to begin reducing.”
In the past 2 years all businesses, not just petrol, have gotten used to increasing prices for whatever reason the Daily Mail tells them is expected, but they also know they don’t have to drop them again, people will pay it regardless because they have no alternative. They’ve basically been able to cram 10 years worth of price increases into 2 years and they got away with it while also posting record profits. They only get criticism but that’s as far as it goes, they can live with that because the profits are the highest they’ve ever been for them.
It’s crazy how people just easily accepted this pricing hike… it’s been like this since the fabricated “fuel shortage”
Greedy companies are greedy, next up….water is wet and how that’s still, somehow, Jeremy Corbyn’s fault.
Unleaded 189.9 and diesel 199.9 in all the garages here.
Will soon have to get a horse and cart.
At this rate the price of Brent Crude could drop back well below 100USD a barrel and we’d still be paying upwards of 150p/l because…profit.
Its not just garages and oil companies, its also the ridiculous tax on top of of all.
And what’s worse is that it’s still miles cheaper to drive than buy a train ticket if I want to travel long distances (strikes not withstanding).
> We can’t afford to buy a pony.
> Marge, with today’s gasoline prices, we can’t afford not to buy a pony.
A lot of people are underestimating how much petrol stations (especially independent petrol stations) are struggling.
We’re not talking about the people getting oil out of the ground here, we’re talking about people who are trying to operate a retail site where they buy petrol and sell it on with only a few pence as the margin.
Between the Covid issues of the past two years, the weeks where they couldn’t get (and therefore sell) any petrol, the general increase in their costs of doing business, their difficulty finding staff now that a huge chunk of the workforce has been told to fuck off home to Europe and the fact that a lot of their customers are trying to cut back on how much petrol they buy, these petrol stations are struggling.
On top of that, around 20% to 25% of new car sales are electric cars and this figure is set to rise to 100% in about eight years. So their businesses aren’t exactly in great long term health!
VPower is 221.3 here now
There are two ways to value something, how much it costs to produce or what people will pay for it.
We have now fully transitioned to what people will pay for it model.
So for anyone selling something, the question they have to answer is “how much will someone pay for this?”. With things like fuel and food they have tested the market and found out they were underselling themselves.
The solution, regulation on profits. It’s not going to be a popular answer, but it’s the only way to get this roller coaster back on track.
If there was an unavoidable or essential reason to put prices up or the service cannot continue, then there wouldn’t be record profits and CEO bonus rises.
Prices could be $50 a barrel in 2 or 3 years and you’ll still be paying your 200p at the pumps.
They do this because they are getting away with it.
‘Failing’ insinuates they tried.
Garages don’t pass on falling cost of petrol. Ftfy.
I was in the Canary Islands last week, their Fuel is still around the £1.20-1.30 mark. I assume they have no refineries hidden around there, so the costs of transporting it there must be huge. So either the Spanish government subsidizes them massively, or we are being gouged to fuck.
Because they know they can all get away with it. They can all make massive profits provided none of them do something stupid like cut their prices.
Well, on the plus side, at least i’m being healthier now. I just skate to work instead of paying for fuel. Drive my car once a week to go get shopping and so it doesn’t fall into disrepair.
I wonder what the future generations will be like when the oil runs out and the last bit of fuel costs an arm and a leg.
Garages **choose** not to pass on falling cost of petrol
Once prices go up they don’t come back down, just like taxes
Gas prices are finally going down in Denmark.
Local Tesco near me are up another 4p a litre today to 192.9 for petrol and 199.9 for diesel. Oil prices are currently $114 per barrel yet it’s more expensive than when it was $140 in march.
I think people could live with this if those companies weren’t posting record profits.
I work for one of the largest independent fuel transport logistics companies in the UK. The last 2 years have been record years, embracing furlough and having record profits was a fucking disaster. That shouldn’t have been allowed to happen on the scale it did. In Scotland its on allocation at Grangemouth because of production problems, so it’s went up almost 20p in 4 weeks.
Make no mistake, these are record times for these types of companies.
Big banks on the brink of going bust, here have a large sum of money.
‘Do we need to pay this back?’
No, mate, these soft cunts will pay for it and then we will cut everything for ten years and call it austerity.
We struggle, they make record profits, largest wealth transfer in history, the world isn’t right.
Summer Riots anybody?
*Diesel has also continued to rise, averaging 196.06p a litre on Sunday. A week earlier it reached 190.92p and on the same day 12 months ago it was 133.47p a litre.*
It’s 1.80 at the Tesco near me in Penwortham in Lancashire now. The article doesn’t really say what a fair price is at the pumps at the moment.
Price of oil goes down, nobody lowers fuel until pushed 4 montus later when us plebs find out.
The minute the price of oil goes up we know instantly and fuel goes up instantly.
Nobody cares about stopping this, heck its nearly £2 in st.helens, thats insane
People forget that we price oil in USD, and GBP has been doing shit. If the price of oil (in USD) stays the same, but GBP goes down, oil will cost more. GBP is down from 1.4 to 1.2 in a year.
It’s 65% tax the reason the government won’t step in and stop this. It’s £1.98 down here, we are buying an electric car now.
Well yes. everyone’s said several times that petrol stations have no incentive to pass these savings on. It’s a captive market, you can’t drive around on an empty tank looking for the cheapest petrol station, you have to use the one that’s nearby.
Frankly I’m astonished anyone was under the belief they’d pass this on. They’ve had opportunities before when fuel duty was cut or oil prices collapsed and they passed on something like 0.6 pence per 5 pence reduction, pocketing the difference.