Petrol prices - is there a tipping point ?

It's not just our personal transport that's affected by oil price increases. These increases factor into every product we buy. They factor into our holidays (eg. plane tickets). They fuel inflation, thus fueling interest rate rises. All these things are connected. This is why the world worries so much when oil prices rise. It doesn't just mean €20 at the pump, it means a percentage increase in everything we buy, and every service we consume.
So yes, there is definitely a tipping point.
 
Swoon0 said:
The media hype doesn't help, when the price of a barrel of oil hit 70 dollars I could see the petrol station owners running out to change the prices, even though it was probably bought 3 months ago !!!!
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I imagine that they cost the fuel based on replacement cost & this is why they put prices up imediately as the cost goes up
 
Winnie said:
I imagine that they cost the fuel based on replacement cost & this is why they put prices up imediately as the cost goes up
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That would be true if they reduced their price with the same speed when bulk prices go down.
 
I've noticed that the garages along my route to work have all upped their prices twice this week already! here is an example
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i think they are trying to improve margins based on people hearing prices are going up!

I run pumps.ie just to be open and honest and all
Interestingly the traffic to the site has rocketed this week, clearly people are concerned about petrol prices again!

Please add in any stations or prices that the site is missing, the more people who use it the better it will get!

Cheers!
 
The end of oil: the decline of the petroleum economy and the rise of a new energy order
Roberts, Paul

I came across the book above during some research recently and I'd recommend it to anyone with even a general interest in the future of oil and petrol. Although its factual, it reads like a novel and I genuinely couldn't put it down. Some of it is kinda worrying though but definitely worth a read. Mine was library copy.
 
And what do you think of the 'Paddy's' who recently struck oil in Belize (feel free to correct my spelling). Any of you heard about that? Apparently the texans have been drilling for oil in Belize for years and a group of inexperienced Irish speculators struck oil there recently. :D

Embarrassing confession now :eek: I queued for about 30 minutes this evening at Tesco petrol station in Sandyford to fill up. Report on the radio said unleaded would be EURO 1.20 tomorrow. Wanted to fill up at 1.10.
I did actually feel silly though.....
 
Jeanne said:
And what do you think of the 'Paddy's' who recently struck oil in Belize (feel free to correct my spelling). Any of you heard about that? Apparently the texans have been drilling for oil in Belize for years and a group of inexperienced Irish speculators struck oil there recently. :D

Embarrassing confession now :eek: I queued for about 30 minutes this evening at Tesco petrol station in Sandyford to fill up. Report on the radio said unleaded would be EURO 1.20 tomorrow. Wanted to fill up at 1.10.
I did actually feel silly though.....
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yes you are a silly woman! follow the herd you lemming! ha ,only kidding.
 
Jeanne said:
And what do you think of the 'Paddy's' who recently struck oil in Belize (feel free to correct my spelling). Any of you heard about that? Apparently the texans have been drilling for oil in Belize for years and a group of inexperienced Irish speculators struck oil there recently. :D

Embarrassing confession now :eek: I queued for about 30 minutes this evening at Tesco petrol station in Sandyford to fill up. Report on the radio said unleaded would be EURO 1.20 tomorrow. Wanted to fill up at 1.10.
I did actually feel silly though.....
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Did you leave your engine running while you were queueing...? :D
 
unfortunately i don't think there is a tipping point anytime soon. a certain petrol station on the quays in dublin when the price hit 120 left it at that level when everywhere else had it back at 110. i couldn't believe people would pay that and yet there were always people filling up there including garda cars!! just noticed yesterday that these beacons of price sensitivity have increased their prices to 129 already!
 
dereko1969 said:
unfortunately i don't think there is a tipping point anytime soon. a certain petrol station on the quays in dublin when the price hit 120 left it at that level when everywhere else had it back at 110. i couldn't believe people would pay that and yet there were always people filling up there including garda cars!! just noticed yesterday that these beacons of price sensitivity have increased their prices to 129 already!
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They've probably realised that the vast majority of regular car commuters into Dublin have parking spaces provided by their jobs, and that a large percentage of them would be in company cars.

Those company cars probably come with fuel-cards, so their owners couldn't care less what the petrol costs at the pumps.

Not to mention that on a bad day in rush-hour traffic, the next petrol station could be upwards of an hour away (albeit only about 4/5 miles!).
 
You can bet that the Gardai are not paying 129 a litre. Anyone with a fuel card gets a lower rate than the pumps. Statoil are always the dearest imho. Cavet emptor.
 
bond-007 said:
You can bet that the Gardai are not paying 129 a litre. Anyone with a fuel card gets a lower rate than the pumps. Statoil are always the dearest imho. Cavet emptor.
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Statoil pulled a fast one a few months ago and changed their fuel card deal.You used to get a set amount off the price of a litre at the pump(say 5c or something).
When the price war on the finglas road broke out,they changed it so that you get a set price every week regardless of what station you go to.
But basically you can buy petrol in many petrol stations now cheaper than the statoil discount rate,which i do !.

And as for the guards,sure the person driving the car couldn't care less what the price of the petrol is because it's not coming out of their pocket, he/she is going to go to the handiest place to buy.
 
thewatcher said:
Statoil pulled a fast one a few months ago and changed their fuel card deal.You used to get a set amount off the price of a litre at the pump(say 5c or something).
When the price war on the finglas road broke out,they changed it so that you get a set price every week regardless of what station you go to.
But basically you can buy petrol in many petrol stations now cheaper than the statoil discount rate,which i do !.

And as for the guards,sure the person driving the car couldn't care less what the price of the petrol is because it's not coming out of their pocket, he/she is going to go to the handiest place to buy.
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I have given up using the Benchmark fuel card from Statoil as thewatcher said you can get cheaper petrol elsewhere cheaper than the card does. I only ever use the card if I am short on cash.
 
Max Hopper said:
Strange the price doesn't fall (June 06 NYMEX crude contract) as fast as it rises.
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I was only wondering the same thing. Prices have been falling since last week and yet some of my locals have put prices up!
 
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