Reply With QuoteGordale’s been the cheapest around for a while now, except maybe for Costco. There’s definitely more folk filling up there than ever before.Originally Posted by higham5
Averaging around 161.99 for unleaded where I am, yet drive to collect my daughter (15 miles up the road) and they are averaging 154.99, absolute daylight robbery by the petrol retailers...
Gordale’s been the cheapest around for a while now, except maybe for Costco. There’s definitely more folk filling up there than ever before.
Petrol runs at a significant discount to diesel as we run up to winter, because the blended components of diesel are interchangeable with heating oil.
Cheapest diesel round my way is currently £1.80/L looks like it is going higher.
Nothing new there then.
We will only help to drive prices down if all of us filled up where it’s cheapest. People now might just start doing that to save money.
Last edited by hilly10; 7th October 2022 at 10:27.
£1.44 today, Im going to pop down as my local garages are 1.66 plus so on a full tank its worth the round trip. :)
£1.4x sounds very reasonable as where I am near Bournemouth, prices are circa £1.60ish. Supermarkets tend to be cheaper by a few pence
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Crude oil +17% this week. As I said if you are cost conscious, fill your tanks.
You can wipe out your savings on a nice cake from the cafe ;-)
Wish I could Benny, they had a craft fair on today and all weekend. So low and behold fuel price £1.55! Still cheaper than where I live so fill up , then a walk on Thurstaston beach.
We have 2 large Tescos in town(sorry city) and there’s a 2p difference in per litre costs, now I just top up when passing the cheaper one, I wonder what other items have a price difference?
Approx 2 miles apart.
Oil price closing in on $100 again.
Large organisations with a massive expenditure buy fuel from the suppliers at keen prices. A common method is to set prices according to the distance from the sellers distribution points. So a company like Tescos will buy in and resell at a multitude of prices. Even half a mile will affect the price.
Tesco monitor the local competition and price accordingly
Shell prices over the last 18 months.
£1.649 Shell V-Power ULD
£1.779 Shell V-Power ULD
£1.780 Shell V-Power ULD
£1.849 Shell V-Power ULD
£1.999 Shell V-Power ULD
£2.089 Shell V-Power ULD
£1.899 Shell V-Power ULD
£1.819 Shell V-Power ULD
£1.779 Shell V-Power ULD
£1.669 MOMENTUM99
£1.699 Shell V-Power ULD
£1.699 Shell V-Power ULD
£1.659 Shell V-Power ULD
£1.639 Shell V-Power ULD
£1.619 Shell V-Power ULD
£1.629 Shell V-Power ULD
£1.719 Shell V-Power ULD
£1.769 Shell V-Power ULD
It will start to come down as Winter draws near and the driving season is over.
I’ve seen some wild price differences over the last few months.
I do 25,000 miles a year all over the south east.
One day I filled up in Kent for £1.37 while all the petrol stations north of the Thames were well over £1.60 a litre.
Its bonkers, there used to be 3-4p difference from the cheapest to the priciest, but now its regularly a 15-30 pence difference.
For a 70 litre fill up, that’s up to a £21 difference.
I got quite excited when I saw news of Rosebank Oil field having around 500 million barrels potential. Then I saw that it's owned by a Norwegian company!!??!!
Why have successive governments given all our assets away...
And I notice they still haven't decoupled the link between electric and gas prices.
The UK government and taxpayer gets the same take from Rosebank whether Harbour Energy/BP or Equinor develop it. Only difference is where the investment £’s come from and where the profit £’s end up. Even that is likely broadly identical to the UK taxpayer as the UK Equinor entity would have to pay UK tax on the profit / value created same as BP or Harbour.
Oil companies largely aren’t like Starbucks/Amazon/Apple that have internal brand licensing charges etc so all profit to be remitted to low tax jurisdictions. The tech companies seem to get away with existing in the uk but never on paper making a profit or paying much tax. Whereas oil companies are bogeymen and pay significant tax where they operate AND still get dinged with windfall taxes.
There has been chronic underinvestment in O&G given the political toxicity, but the consumption has not stopped so the prices will rise. $100-120-150 a barrel in the coming quarters are plausible scenarios. Jeff Currie coined the phrase “revenge of the old economy” and in my view that is what we are seeing play out.
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Last edited by chrisjones3; 28th September 2023 at 02:01.
Equinor will be claiming back 91% of the £3.1bn they’ve spent getting the Rosebank field to its current point, from the UK Government.
Sure, they will be paying 75% tax on profits from the field until 2028, on the profit from around 225m barrels at that point, but there is certainly still plenty of money in it, especially after claiming most of the initial investment back via tax breaks.
Oil companies certainly aren’t like coffee or tech companies, and they aren’t taxed like them either.
Glad my mileage is so low!
My point was whether the UK gets the same whether it is Equinor it sold the license to, or a homegrown developer of the field, so the foreign ownership point made a bit above is moot.
91%? I would like to see the maths/facts behind that. I recall Norway had an exploration tax recovery at something like 95% but quite limited in scope to exploration only. I wonder again about the demonification of oil companies - that it seems heinous that they can deduct the cost of projects from the revenue before paying tax? A bit like a farmer being able to deduct the cost of producing the food before working out the profit to pay tax on. …?
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Details of the Investment Allowance here;
https://www.gov.uk/government/public...et-26-may-2022
It’s also mentioned on the various media reports.
My point was that we don’t need to get a violin out for oil companies, even if we’re not demonising them.
And yes, some people thought that this would be good news for petrol prices as we’d be using ‘our’ oil, but of course it’s sold on international markets and the UK competes to buy it along with everybody else.
Still good business for the Govt though, it will net a few £bn in tax out to 2032, with zero up front investment.
Good business for Equinor as well, otherwise they wouldn’t be doing it.
Ditto! Filled the Cayman up for a trip to Silverstone for BTCC and it swallowed almost £80, was not expecting that in the slightest.
I rarely pay attention to fuel costs, as if I need it, I need it. But the overall cost was an eye opener despite reading about it all in the press.
We are very lucky with how life has worked out for us, but genuinely feel for less fortunate families or people earlier in careers or house ownership. Tough times.
You guys need to buy a Tesla, watch it depreciate £20-25k immediately, and then enjoy the overnight charging rates.
Makes financial sense after about 900 years when you’ve covered a millions.
You know the answer lies in getting a car from Stuttgart mate, we’ve been here before lol.
That’s the plan but paused for a bit. We’ll see if I ever get there. You might catch me in a R reg boxster one day just to say I had one lol
You will still love it tbh, first one I ever drove was a mk1 and loved every second of it.
I’ve been using the electric thing for the last couple of weeks but filled up the Merc yesterday, has petrol jumped about 10p a litre?
Yes..
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