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#247564 - 12th Aug 2008 1:53pm DRIVERS NOT BENEFITING FROM CHEAPER OIL
StuyMac Offline

Wiki Master

Registered: 24th Nov 2003
Posts: 12002
Loc: Wirralshire
AA says fuel should be cheaper ...



Despite wholesale prices for fuel plummeting recently drivers are yet to see any large drops at the pumps, the AA has revealed. However experts are predicting that a price war is on the horizon and drivers can expect much lower prices.

Supermarkets have already started slashing prices with Asda charging 109.9p a litre for unleaded and 121.9p for diesel at its 171 forecourts. Morrisons had already knocked 2p a litre off diesel and unleaded and Tesco has pledged to match the lowest pump prices 'almost immediately'.

The AA has welcomed the reductions but accused some forecourts of not dropping prices in line with falling crude costs. Oil has dropped to around 115 dollars a barrel from its record high above 147 dollars last month.

AA spokesman Paul Watters said some regions were not getting cheap enough fuel. 'Cheapest prices in many southern towns are still two or three pence above what drivers are paying in areas where competitive supermarkets are engaged in a dogfight,' he said. 'Since the all-time high of 119.7 pence per litre for petrol and 133.25 for diesel, the wholesale price for petrol coming into the UK has fallen 18% and 22% for diesel. This has yet to be reflected in average UK prices.'
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#247572 - 12th Aug 2008 2:05pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: StuyMac]
StuyMac Offline

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Registered: 24th Nov 2003
Posts: 12002
Loc: Wirralshire
Basically it means Derv should be around £1.05 and petrol around 98p
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#247576 - 12th Aug 2008 2:12pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: StuyMac]
jason24v6
Unregistered


sooner the better it feels like am never out off the petrol stations since prices have gone up


Edited by jason24v6 (12th Aug 2008 2:13pm)

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#247577 - 12th Aug 2008 2:22pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: ]
StuyMac Offline

Wiki Master

Registered: 24th Nov 2003
Posts: 12002
Loc: Wirralshire
Well, I hope its only still high as they are still using stocks that where bought at the higher price.

Now oil has dropped - fingers crossed the price will drop over the next few weeks also.

Seems the price hike was all down to speculation - who ever started it all has made the oil companys a lot of money....
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#247586 - 12th Aug 2008 2:43pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: StuyMac]
jason24v6
Unregistered


Originally Posted By: StuyMac

Seems the price hike was all down to speculation - who ever started it all has made the oil companys a lot of money....


bet it was mr bush as he has alot off money in texas oil companys

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#247588 - 12th Aug 2008 2:55pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: ]
mike849 Offline
Veteran

Registered: 20th May 2008
Posts: 776
Loc: hell/lincolnshire
will this war between russia and georgia affect fuel prices as theres a oil pipeline running through the country which bp have a stake in?
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#247806 - 12th Aug 2008 10:21pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: StuyMac]
DavidB Offline
Wiki Guide

Registered: 7th Dec 2003
Posts: 5595
Loc: Bebington, Wirral
Originally Posted By: StuyMac
Basically it means Derv should be around £1.05 and petrol around 98p


I saw it was 1.12 the other day and nearly came. It's been horrible with the high prices! Can't wait for sub-£1 prices.
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#247815 - 12th Aug 2008 10:53pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: DavidB]
MGCraig Offline
AlfaHolic
Forum Veteran

Registered: 16th Apr 2006
Posts: 5488
Loc: Spital
I dunno, Ive got a feeling it wont drop back below the pound. Not for a long time anyway

Christ, Ive only been driving 3 years, and I remember complaining the price went from 79p to 82p
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#247843 - 12th Aug 2008 11:41pm Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: mike849]
jason24v6
Unregistered


Originally Posted By: mike849
will this war between russia and georgia affect fuel prices as theres a oil pipeline running through the country which bp have a stake in?


maybe thinkgood point

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#247912 - 13th Aug 2008 8:17am Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: ]
StuyMac Offline

Wiki Master

Registered: 24th Nov 2003
Posts: 12002
Loc: Wirralshire
I remember when fuel was around the 40p mark - £20 used to fill my Fiesta raftl

Thing is with the price, and as Craig said, we have got used to it being so high now - when the prices go up, oil companys are very quick to raise the price, not so quick to lower it though.... think

...also think of the lost TAX - its a % of the price per litre, so the lower the price, the less % of TAX you pay...
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#247936 - 13th Aug 2008 11:08am Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: StuyMac]
MGCraig Offline
AlfaHolic
Forum Veteran

Registered: 16th Apr 2006
Posts: 5488
Loc: Spital
I wonder if its actually a test, the oil companies raising the price as high as they can go, before motorists stop buying fuel. Even though everyone complained about the price, about 2 people in Britain did anything aout it.

The companies get that little bit extra, and also know how much they can raise it to in the future
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#249219 - 19th Aug 2008 10:42am Re: DRIVERS NOT BENEFITING FROM CHEAPER OIL [Re: MGCraig]
jason24v6
Unregistered


withthat yes

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