It's been forecast and now it's arrived:
www.liverpoolecho.co.uk/news/liverpool-news/petrol-prices-fall-under-1-8436123
but for how long will petrol station owners be able to operate and continue to make a profit (remember a large proportion of fuel prices is comprised of excise duty and VAT)?
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VAT is a percentage so as a sum it falls with the retail price.
Last edited by: VxFan on Tue 13 Jan 15 at 14:05
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Yes - I think fuel resellers tend to make a fixed amount per litre so the price doesn't matter much, except that I would imagine they sell a bit more when the price drops, so it's probably a good thing for them.
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>> I would imagine they sell a bit more when the price drops, so it's probably a good thing for >> them.
Really?
Will anyone here drive more or drive less economically because fuel is cheaper? Certainly I will not.
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>> Will anyone here drive more or drive less economically because fuel is cheaper? Certainly I
>> will not.
>>
It's not that (although PistonHeads is full of posts about buying a V8 due to lower fuel prices) - it's that will use their cars more.
ie: www.telegraph.co.uk/finance/personalfinance/insurance/11341256/How-falling-petrol-prices-pushed-up-car-insurance-costs.html
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>> Will anyone here drive more or drive less economically because fuel is cheaper? Certainly I
>> will not.
People have reportedly cut out leisure motoring in response to austerity/high crude prices. It wouldn't be that surprising if they were more inclined to motor out for day now prices are back at 2008 levels
Might you feel you could take the camper out for an extra weekend? I might with the caravan.
Last edited by: Bromptonaut on Tue 13 Jan 15 at 14:19
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I suspect that 'spot' prices have fallen faster/sooner than retail and that foreourts have had a 'windfall' in recent weeks.
It's not clear from Stuart's report whether it's the Birmingham forecourt operator (Harvest according to press reports) or Costco that AA describe as 'maverick'. Still a long way to go here where it's around 109.9.
As ever though it is 3p/litre cheaper in Banbury or Leicester than in Northampton.
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A friend of mine in Spain says petrol is now €0.99 a litre. I find that hard to believe even with our tax rates.
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But don't forget that the lost tax revenue will have to be recouped some other way.
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>>VAT is a percentage so as a sum it falls with the retail price. >>
Yes, I do appreciate that fact, which is why I stated "proportion"...:-)
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Here's a thing. For a driver of a vehicle which averages 30 mpg and does 10,000 miles a year, the difference / saving between a £1.25 litre and a £1.00 litre is £7.30 a week.
Less than a packet of fags a week.
Except for those on the tightest of budgets, it's nothing more than loose change.
Different for high mileage users of course.
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>> Here's a thing. For a driver of a vehicle which averages 30 mpg and does
>> 10,000 miles a year, the difference / saving between a £1.25 litre and a £1.00
>> litre is £7.30 a week.
True, but the peak was 143 or so for petrol with diesel over 150 for a short while
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Ok, let's compare the two extremes then. £12.50 a week. Packet of fags and a sandwich.
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Depends on how you look at money I suppose. For me, I'd be thinking that £360 a year buys all sorts of good things - a snazzy weekend away, or two or three really good meals out, or endless trips to the cinema, or a whole load of books, or all your road tax and more, or your house or car insurance...and so on.
Loose change. Pah.
:)
And since I posted you've made it £12.50 a week! £50 a month! £600 a year! My head will explode if I use any more exclamation marks!
Last edited by: Crankcase on Tue 13 Jan 15 at 16:42
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As a proportion of my salary it's low. As a proportion of my 'what's left after everything else is paid for' it's somewhat more significant...
Runf - if you don't want it, I'll be happy to make sure it goes to a good cause :)
Last edited by: Focusless on Tue 13 Jan 15 at 16:44
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Not saying I don't appreciate the saving, just that as a function of the total cost of owning and running a car it's not that big a deal except to those who use their vehicles a lot.
Edit - even the £12.50 is £1.79 a day...
;-)
Last edited by: Runfer D'Hills on Tue 13 Jan 15 at 16:49
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From £1.30 to £1.00 a litre, saves me about 15 quid per tank refill
Thats significant in anyones book.
Last edited by: Zero on Tue 13 Jan 15 at 17:13
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Depends on how often you fill the tank.
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On a personal level I'm seeing a noticeable difference in my fuel costs, but then I do a lot of miles.
Given up smoking though. Have to think of something else to spend the money on.
;-)
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>> Depends on how often you fill the tank.
No it doesn't, it still costs 15 quid per tank less, no matter how many times you fill it.
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As a percentage of the price of fuel at say £1.40+ a litre as it was not that long ago, 2p a litre added/taken off is almost insignificant, but at £1.10 per litre or less even 2p is a useful saving on a full tank fill up.
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That £360 saving would buy a 6 day lift pass for two in the Grandes Rousses. Best waiting for a few decent dumps of snow though.
Will see how much Shell V Power is this Thursday when I fill up Herman.
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For the person who has no option but to travel 40 miles a day to work and back, and barely earns the minimum wage it's a huge bonus.
....and makes working v benefits a fairer option.
Pat
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Absolutely agree. No question. But for Joe or Josephine Average, they'll hardly notice. Except that they might "feel" better off, which might be a good thing.
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There are of course a very large number of people in the situation to which Pat refers and remembering what it was like to count monthly expenditure to the penny the price cut must be very welcome. To someone like me who spends more in Costa that I do at the filling station each month it's just a few more Americanos.
Last edited by: CGNorwich on Tue 13 Jan 15 at 17:07
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Dead right, quite agree, just thought it might be interesting to look at the sums. Not unhappy about me or anyone else saving money, that's certainly a good thing.
Last edited by: Runfer D'Hills on Tue 13 Jan 15 at 17:14
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I agree with CG ( there's a first!) I think these days Jo and Josephine average are more the example I quoted.
A lot of the others just don't like to admit it:)
Pat
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>> I agree with CG ( there's a first!) I think these days Jo and Josephine
>> average are more the example I quoted.
>>
>> A lot of the others just don't like to admit it:)
Me too. This CAB thing is an eye opener even if you thought you were a realist to start with.
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Well, of course there's no such thing as an average person but what I was getting at is that an average person, on an average income, driving an average car an average annual mileage wouldn't see much of a saving, on average. ;-)
Not, for the sake of clarity, ignoring or denigrating the effect on those whose financial situations are sensitive to small changes in their necessarry expenditure.
But turn it into that if you want.
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Sorry Runfer, I didn't intend to irritate.
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>> an average person, on an average income, driving an average car
>> an average annual mileage wouldn't see much of a saving, on average. ;-)
Average driver does 10k miles a year, Average fuel consumption is 35 mpg (average petrol engine)
Average motorist would use 286 Gallons / 1300 litres.
Petrol reached 137p a litre in May 2011, so mr average would have spent £1781pa on petrol
If petrol reaches 100p a litre mr average will spend £1,300pa saving £481pa on average.
That would buy you 1.5 average Tvs or .5 of an average holiday in an average hotel in an average Spanish holiday resort or It would provide average footwear and school uniform for the average 2.4 children or It will feed one of your average children for a year. That looks significant.
On the other hand its £1.31 a day It would buy you half a cup of very distinctly average cappuccino in Starbucks daily, or pay your average daily paper bill for a month.
It is a significant saving, but you can colour the significance how you will.
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>> It is a significant saving, but you can colour the significance how you will.
For example, its 32 bottles of gin. Now that IS significant!
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It is indeed a significant saving but my experience of these things is that the benefit is rarely felt as much as it ought to be. Unless people are going to put their savings every time they fill up into a jar so to speak, it'll just disappear into that void of general inexplicable expenditure.
I gave up smoking a few years back and I should have more than 3 grand a year kicking around in my wallet looking for trouble but somehow I just haven't.
Damned if I know where that goes.
Anyway, enough of all that, as to cheaper fuel, I really do have only one further comment, along the lines of "yippee" mostly.
;-)
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...liverpool-news/petrol-prices-fall-under-£1
Hardly worth the bother of siphoning it out any more.
};---)
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Forgot entirely about the Tesco fuel save thing, and just filled up there. Paid a kind of pleasing 99.9p a litre for diesel, as it gave me 14p per litre back.
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Oh goodness, a quid a litre, how amazingly cheap, only £4.55 a gallon I ask you... I remember how outraged everyone was when the gallon went up to ten bob.
American far west in the seventies... now that was cheap petrol. Down to around 5p in Oklahoma unless my maths is out, 29cents for a small US gallon with the dollar around 2.60 to the quid.
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>> Down to around 5p in Oklahoma unless my maths is out, 29cents for a small US gallon with the
>> dollar around 2.60 to the quid.
>>
I remember 22 cents a US gallon with that exchange rate in the Cape Canaveral area, even better, HMG was picking up the tab. I found it amazing how fast you could empty a big V8s fuel tank. :)
Last edited by: Old Navy on Wed 14 Jan 15 at 08:02
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You still can empty them pretty fast! A steady 80/85 on the Interstates across Montana, Idaho & Nevada meant about 10/12mpg last March.Fortunately the cost of refuelling the truck was split three ways. As my friends said at the time ' now we're sucking gas''.
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>> As my friends said at the time ' now we're sucking gas''.
>>
Its fuel pump must be nearly the size of my car engine. :)
Last edited by: Old Navy on Wed 14 Jan 15 at 08:58
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Saudi Arabia 1970 - 1 riyal per US Gallon
i.e 10 US gallons (38litres approx) cost 92p and it was Premium - 89 octane(IIRC)
200 cigarettes cost about the same - bought in a petrol station as they were kept in a cooler/fridge rather than from street sellers about 90p for the carton of 200.
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>>Hardly worth the bother of siphoning it out any more.};---)>>
Or a drive-off.
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I think its a good thing for the economy. Even if the amounts are fairly small in the big scheme of things it does have a feel good factor, and that will lead to people thinking they have more cash in their pocket and maybe spending more.
Although I cant see it lasting for to long. The lost VAT revenue will have to come from somewhere, and I imagine that they only thing that's stopping the duty going up is may's election
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One major bonus is that everyone will benefit. Some 96 per cent of everything we buy and drink, eat, wear or use is transported by road and lower costs will hopefully filter through given time.
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Cheapest yet, 111.9 (diesel) at Morrisons by the JLR plant at Halewood. Petrol I think was 114.9.
The 10litre 'distress' purchase at Keele MSA was 125.9/litre. I'd meant to come off at J15 and use the Tesco on the A34 but was running slightly late.
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£1.159 per litre on Shell V Power today, so stuck in fifty quids worth. Then another £25 on beer & G & Ts in the pub tonight. Still celebrating my tax refund...hope to spend it all by the end of January!
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>>Cheapest yet, 111.9 (diesel) at Morrisons by the JLR plant at Halewood. Petrol I think was 114.9. >>
It was £1.04 yesterday per litre for unleaded at Tesco Kew - be very surprised if diesel was cheaper than petrol.
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>> It was £1.04 yesterday per litre for unleaded at Tesco Kew - be very surprised
>> if diesel was cheaper than petrol.
>>
Misstype. Petrol was in fact 104.9.
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just paid 110.9 for BP diesel at my local garage hadn't set out to get fuel wonder if it will be cheaper by Monday morning when I would usually get fuel for the week.
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Noticed the Esso by work was 1.109 this morning, so its still dropping
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Brimmed up the Note yesterday at Tecso.....34.75 litres cost me £31 with the 12 p off wot we had earned.
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>> just paid 110.9 for BP diesel at my local garage
Whereabouts (roughly) is that cd? The supermarkets round here, where there's no Asda 'national price' to force the issue, are still around the 115 mark.
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>> Whereabouts (roughly) is that cd?
Marlow, Bucks.
Varies widely across the country, noticeable price difference where my daughter is in Winchester, always, in the last couple of years, about 2-3 pence more than here
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I can guarantee that south of the wash the three cheapest places will be
The Asda near Spaghetti Junction , Sainsbury in Kings Lynn and Sainsbury off the A41 in Bushey.
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>> The Asda near Spaghetti Junction , Sainsbury in Kings Lynn and Sainsbury off the A41
>> in Bushey.
I'll bet those two Sainsburys have an Asda or nearby or some other high volume local competitor.
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>> >> The Asda near Spaghetti Junction , Sainsbury in Kings Lynn and Sainsbury off the
>> A41
>> >> in Bushey.
>>
>> I'll bet those two Sainsburys have an Asda or nearby or some other high volume
>> local competitor.
The Kings lynn one not, the Bushey one does and not only an Asda - its a price unique stretch of road, always 2-3p below the average.
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Diesel still 115.9 at Sainsbury's Northampton. That's more than it was at Asda Bletchley a fortnight ago.
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Diesel 109.9 last night at Hanworth.
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The price of higher octane petrol doesn't seem to have dropped as quickly as ordinary unleaded. 97 Ron was 122p a litre this morning, while ordinary was 107.
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>> The price of higher octane petrol doesn't seem to have dropped as quickly as ordinary
>> unleaded. 97 Ron was 122p a litre this morning, while ordinary was 107.
>>
Guess we're lucky here in Austria, the 98 Ron was 1.15 euros this weekend, the diesel and 95 Ron around 1.07 euros :-)
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Not road fuel (well you could but don't blame me for the consequences) but heating oil was priced at 34ppl on the Boilerjuice site last night, based on a 1000 litre order.
Soon as my tank's got room I'm topping up again.
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36p here last week....took 1095 litres !
Bargain.
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39.9 here last week, they told me, and THAT turned out be plus VAT when the bill came. Sigh.
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Barrier broken - Zero
