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Petrol and diesel could slip below the magic £1.00 threshold
- Thread starter Chas
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Lol. Doubt that would happen. Crude is not a big enough price constituent to account for a 20% decrease in pump price, I think. Guranteed George Osborne won't cut any taxes or duties ...
chadr
Well-Known Member
That simply won't happen, or rather more, won't be allowed to happen IMHO.
The £1 per litre, whether it is diesel or petrol, is a threshold that we will never go below again for a whole raft of reasons. Only some of which are economic, the others political but nevertheless, all equally important to the powers that be.
The £1 per litre, whether it is diesel or petrol, is a threshold that we will never go below again for a whole raft of reasons. Only some of which are economic, the others political but nevertheless, all equally important to the powers that be.
Not so good when you work for an oil operating company like myself......
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Being geologists, won't you be the ones getting more work finding new wells though, Andy?
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Beau
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In my opinion the possibility is there for oil to drop further. In the past year, oil is now making it's third attempt to creep below the $40 barrel level. If it goes below this I can see it staying there for some time, but on the other hand if it fails to do so oil will steadily climb back up into the $55+ level quite easily. This is a analytical view, not fundamentally based. However, when oil was last at this level here in the US around January fuel was around $2 a gallon. Now, 7 months later, at the same crude price, it's $2.25. This just shows you how controlled price levels are and may point to a good reason why prices in the UK will not fall below the 1 pound threshold.
Here's an old picture from 2012 or so. The tax rates etc are about the same - VAT is now more at 20% though. You can probably do your own sums on this 
We may creep below £1.00 per litre but the cost to government is high so they won't pass on all the savings I reckon.
We may creep below £1.00 per litre but the cost to government is high so they won't pass on all the savings I reckon.
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Diesel is already £1.10 at home. I fail to see how it could get much lower if the duty is a fixed levy rather than a percentage.
ModelMakerMan
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I saw Diesel for 103.9ppl at a supermarket in Bristol on Sunday. Its getting close but Id be surprised if it drops below 100ppl.
Chas
Well-Known Member
I keep a check on fuel prices on this site http://www.petrolprices.com/ I've kept records going back to 2012 when it was (in my area) £135.9 but it has been higher at the moment it's at £111.9.
ModelMakerMan
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£111.9 Chas!? Does it drive the car for you too? 
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Chas
Well-Known Member
£111.9 Chas!? Does it drive the car for you too?
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Typos £1.119
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With the way currency rates are, the UK is getting a hard time with fuel prices. Ireland has always had very high duty on fuel, but Diesel is €1.26 here at the minute, which is £0.90p per litre. It was only €1.12 in France
I got some shock buying diesel at the Telford services coming home a couple of weeks back, when I converted it, it was nearly €1.70!!
I got some shock buying diesel at the Telford services coming home a couple of weeks back, when I converted it, it was nearly €1.70!!
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AndyCook
Well-Known Member
I try and avoid buying fuel at motorway services, having a 140litre tank in our hilux makes that easier. On a long road trip, I fill up first thing in morning or in evening at a non motorway service station near campsite. Then I have a 700mile range for the day, which is more than I would drive in. A day anyway 
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I had little choice trying to make a ferry, but even still hits expensive over there.
Also interesting to note the mpg difference between an 80 and a D4D 95... I get 500 miles from a standard tank with normal driving
Also interesting to note the mpg difference between an 80 and a D4D 95... I get 500 miles from a standard tank with normal driving
Still driving on cheap French diesel a month after coming back
The joys of 260 litres on board fuel
The joys of 260 litres on board fuel
