And that’s the point some political commentator was making on the radio today. The VAT ‘windfall’ on fuel makes up for lost VAT on other items that people are cutting down on.
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I have almost negated the price increases to-date by driving very conservatively.
And that’s the point some political commentator was making on the radio today. The VAT ‘windfall’ on fuel makes up for lost VAT on other items that people are cutting down on.
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London £2.38 petrol £2.49 Diesel
https://www.mylondon.news/news/west-...n-24191776.amp
Must be getting a bit pricey to run those 20 mpg four and five litre monsters over on the What Do You Drive! thread. Especially if they drink the good stuff at over £2/litre. £100 in fuel just for a 200 mile longish day return trip to the beach. Ouch!
Prices of those bad boys must be in for a tumble.
Think I’ll stick with my boring old diesel Volvo which gives me 55 mpg if I nurse it on the motorway.
In fairness it was always pricey to run such vehicles. I commute in an M5 and a few years back ran an E63 M6 with the n/a 5 litre V10.
The difference in fuelling is marginal really. Not many folk will have been cutting things so fine they could barely afford to run these cars when super was £1.50 a litre.
I would rather suck up the extra than drive a diesel Volvo, but each to their own!
My Toyota Yaris 1.5 has taken me 240 miles to Norfolk and back with a week's driving round the area. Still have a 3rd of a tank left from the £88 I put in. Very chuffed 👍
You don’t know what you are missing. Comfiest leather seats, bar none. Effortless motorway driving, and bucket loads of torque from a 200 bhp diesel engine. Ok, turn a corner fast and you maybe pinned to the drivers door!
Keep on paying the extra though, as it is fully rewarding me with significant returns on my RDSB and BP shares.
+1, I bought Shell and BP shares for the dividend income when I took early retirement so I would encourage people to use the premium ‘warm feeling’ fuels in their pride and joy........keep paying buddies!
I’m not happy about the fuel price situation, far from it, but at least the dividends sweeten the pill marginally. No- one shed a tear when the oil price slumped and dividends were cut but everyone’s on the bandwagon criticising the profits now being made.
Government could help by cutting the VAT take.
So how come in 2008 oil was $140 per barrel and the pump price was around £1.07 per litre.
It's currently around $120 per barrel but the pump price is £1.90 and beyond.......
When you look long into an abyss, the abyss looks long into you.........
I went for an hour drive in my wife’s car with the roof off just around the lanes yesterday. Felt nice to just go and use petrol for fun again.
Some spirited fun driving following an old boy in a Daytona from 1970. Looked on PH at the prices when I got home and was amazed.
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When you look long into an abyss, the abyss looks long into you.........
If it gets much worse then people will start filling jerry cans with red diesel like all the farmers have been doing for decades
Exchange rate has a HUGE bearing on the cost of crude, especially if you are buying crude with the Great British Peso.
Oil price in 2008 $140/bbl @ GBP/USD of 2, so £70bbl
Oil price in 2022 $120/bbl @ GBP/USD of 1.23, so £97/bbl
So, in GBP terms a barrel of crude in 2022 is nearly 40% more expensive than in 2008, despite of being around 15% cheaper in USD terms.
Refining margins are around $40/bbl. That is massive, when they are usually a fraction of that.
As I am retired we have just cut down on use and unnecessary journeys so the last three weeks it’s cost us a little bit less, if many more of us did this prices would fall.
I don't think prices will fall far. Refineries are apparently in short supply and they are making a lot of money. The Govt and the oil companies are coining it in. Will take e.g. a lockdown to force a shift downwards.
Anyone tempted to try blend with cooking oil (diesel obviously)?
Think it only works on the simplest of diesel engines. Modern diesel engines would probably puke.
Have you tried to get cooking oil these days given the situation in Ukraine?
And then you still have to add on customs and excise duty.
I think the days of using cooking oil in diesel cars has been left behind in the 90s and early noughties along with that particular Top Gear or Fifth Gear episode.
Red diesel no longer exists,, to many were abusing the system.
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Unless recession/depression hits and demand destruction kicks in we're looking at 200$ crude by autumn. OPEC+ tapped out, no peace in Ukraine on the horizon, US shale disincentivised and big oil generally villainised by the "progressive" politicians... Time to buy a bunch of jerry cans... ?
If your diesel car has a DPF, then under no circumstances should you be adding veg oil to it. It's too viscose and eventually will clog up the aforementioned DPF, leaving you with a hefty replacement bill.
I used to make my own veg fuel for my diesel VW's in, as long as you made it properly and checked regularly filters/pumps then all was fine, that was until they added DPF's to cars.
Exactly good ole GBP's plummeted against the dollar, now only worth in dollars about the same as it's worth against the euro, 1 quid to just 1.2 dollar, pretty savage really from 2 to 1 and then 1.5 for a longish period, even just last year a pound was worth an average 1 and a third bucks. If you don't earn/ invest in dollar denominated assets, it makes the place rather dear, and obviously cos of the petrodollar, fuel too.
Last edited by Passenger; 13th June 2022 at 11:42.
Been that way for some years now the rinsing, disproportionately sized banking sector, economy favourable to rentiers, business model overexposed to and dependent on the kindness of strangers as Carney observed...rip off Britain. Extremely challenging few years/ decade ahead.
Last edited by Passenger; 14th June 2022 at 10:40.
BP in Chelmsford £1.88 unleaded, Esso in Witham £1.67, 8 miles apart, it's been like that for the last two weeks, funnily enough there is always a queue at the Esso garage.
What I am seeing more of especially Supermarket fuel is the difference between Derv and Unleaded 20p a litre nearly everywhere in Staffordshire.
Dutch prices are between 2 and 2.08 euro. Next to the motorway more expensive: 2.27 - 2.40 euro.
No wonder the station before the Belgian-Dutch border doesn’t sell a drop! Belgian prices are between 1.91 (motorway) and 1.78 euro in the towns
Bizarrely, in the lake district a few weeks ago, a couple of BP garages were far cheaper than any others, there or closer to home!
M
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Breitling Cosmonaute 809 - What's not to like?
Filled my classic car today with premium, felt a bit of a bargain at £1.80l
On holiday near Abergavenny yesterday, a local garage had a £1.7.. offer. The queue and tailback was over 3/400m since its such a small town all traffic stopped one way. Great if you were buying fuel, bad if you were just passing through :)
Last edited by higham5; 4th August 2022 at 08:10.
Its a sad day when £1.80 is a bargain! Time to get involved in the cycle to work scheme for me
So the £ is down again and crude is up 10% in the last week.
£2/litre here we come again. May as well stock up on that bargain £1.80/litre diesel while you can.
I paid £1.46 at Costco last week..