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Thread: Fuel for thought!

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    Default Fuel for thought!

    Incensed bby seeing diesel at over £2.00 per litre at the weekend, I did a little research.

    Last October, just be for the "heavy goods driver shortage exploded across the UK Brent Crude was just under $83 per barrel (https://oilprice.com/oil-price-charts/ 11/11/2021). At that time the price of 1 litre of unleaded in Sussex was £143.9 (petrolprices.com 11/11/2021). Since then, these are my findings:

    The "5p reduction" in fuel duty was never passed onto Joe Public certainly not in our local garage. In fact there was a complaint on our F/book page where a local motorist asked why it had gone up not down, to be told that the garage owners (Texaco) had told them NOT TO PASS ON THE FUEL DUTY CUT! Reading widely on social media and in the press, this situation was repeated up and down the country.

    On 23/01/2022 the Independent newspaper rang an article that stated, " A Russian invasion of Ukraine is "inevitable and imminent", a conservative MP claimed last night", the cost of Brent Crude was $86.27. At the same time petrolprices.com showed unleaded petrol to be £115.9 per litre in Forest Row. On 07/03/2022 the cost of Brent Crude had risen to $123.21 and unleaded in forest Row was £120.9 per litre. On 23/06/2022 the cost of Brent crude had fallen to $106.46 yet the cost of unleaded petrol in forest Row had increased to £182.9 (on 23/06/2022). To me this shows that the petrol companies are increasing their profits to the detriment of the buying public.

    Over the past 20 years, I have confronted companies with this phenomenon when buying burning oil for my central heating system. The excuse given is that the spot prices as shown by purchase price for Brent Crude are for delivery in two months. However, having watched the markets in relation to petrol prices over many months I am finding that as the spot price increases the price t the pump goes up within a day or so. When the spot price decreases, it will often take a minimum of a fortnight for the lower price to be passed onto the motorist. Again, this shows
    me this the petrol companies are increasing their profits to the detriment of the buying public

    The petrol companies were quoted earlier this year as having so much profit they did not know what to do with it. Yet they are allowed to continue this outrageous policy that is so detrimental to the public, the economy, the cost of living and inflation. Essentially even though prices have come doen marginally the fuel companies continue to profit

    Given that the excessive cost of fuel has an effect on everything we purchase, as fuel costs are being blamed for massive rises in the cost of electricity, food and any purchases the consumer makes< I feel in spite of the "changes" this Government there is an air of them "fiddling whilst Rome burns" and clearly they do not give a fig for the general populaton!
    Last edited by Doc Vernon; 28th June 2022 at 08:03 PM. Reason: Text Colour bad on Eyes

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    Default Re: Fuel for thought!

    I'm very confused at the prices, Unleaded at 115pounds per litre LITRE? rising to 120 pounds per litre and then to 182 pounds I assume a litre, have you not got barrel price miss quoted as litre price? or perhaps it is the author of the article? Sorry, the price blew my mind and I couldn't follow the article. I'm still not sure if I'm correct or not?

    Cheers, Rodney

    Ps. I can sell you/them all they want at that price and offer a 2% discount for cash (prepaid of course in US dollars plus shipping) ...just kidding.

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    Default Re: Fuel for thought!

    Rodney it is a typo,but I am sure you knew that. The decimal point is in the wrong place it should read £1.159 (15.9)pence. Why they quote fuel as £x.xx9 is beyond me. If I put exactly 1 ltr of petrol in I bet they would round it up to £1.16 pence. Anyway the way it is advertised at petrol ststions is/would be 115.9p The £ sign is not shown.

    The chancellor played a trick on Joe public. He announced a 5 pence cut per ltr on fuel duty in his Spring budget.

    He should have kept the fuel duty as it was and lowered the VAT tax down from it's current 20%. If petrol was £1.25 pence a ltr in the Spring the Vat tax to the government coffers would have been 25 pence. Currently petrol is as high as £2.00 per ltr in some places so VAT = 40 pence. Everytime fuel prices rise it is a win win for HMG treasury.
    Last edited by James Curry; 28th June 2022 at 10:43 PM.

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    Default Re: Fuel for thought!

    we had a golden opportunity to shale gas but a few environmentals didn't want it on their doorstep i wonder if any of them had time to think what they did in this hard time? just a thought jp

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    Default Re: Fuel for thought!

    Hi James,

    You are correct the decimal point is missing. I am blind in one eye and such details can escape me. Thank you for your clarifications. Incidentally, I agree a change in VAT would have seemed more sensible that the pussyfooting around this Government has chosen to use as a "cure" and fairer to the public too!

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    Default Re: Fuel for thought!

    Hazel

    What a fine pair we make then. I only have slight peripheral vision in my left eye (from birth) and if I was to lose the sight in my right eye, I would be blind. I honestly did not put it together that the decimal point was in the wrong place, I thought it was a typo between barrel and liter.

    I wasn't being smart or snidey, I was confused as barrel was 80 pounds and I assumed then it went to 120 pounds and that's when I erroneously locked on to liter vs barrel. Alas, I can't blame my eye, I guess it was my brain. I do apologize if I caused you any discomfort.

    Cheers, Rodney

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    Default Re: Fuel for thought!

    As to short sightedness in one eye , people used to snigger at Colonel Blimp and his monocle but that was probably the reason he wore it. One would have thought it was easier to wear glasses though with a plain glass in one eye piece. Think the monocle was just for personal vanity reasons. JS
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    Default Re: Fuel for thought!

    One word in this day and age SUPER Profits, When you have individuals with $300Bllion and more you can cry foul or fuel all you want it makes no difference to the rich, that's why I have one of the smallest cars available.
    Des
    Last edited by Des Taff Jenkins; 30th June 2022 at 03:26 AM.
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    Lest We Forget

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    Default Re: Fuel for thought!

    #8 In a lot of cases you could say the oil companys are the government Des. The governments at times bend over backwards to appease them , similar to some of the Press. JS
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    Default Re: Fuel for thought!

    Thatchers Britain: Privatisation the big sell-off. The Sell off of the crown jewels of Nationalised Britain Gas, oil, telecommunications, various industries, transportation, water industries. British Petroleum The Sell off of the crown jewels of Nationalised Britain Gas, oil, telecommunications, various industries, transportation, water industries.
    Many industries and utilities that had been nationalised in the Attlee government of 1945-51 were made into private companies: in industries, steel, railways, airways, airports and aerospace; and, of the utilities, gas, electricity, telecoms and water. The process has continued to the present day, with the 2013 privatisation of the Royal Mail.

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