Fuel Prices

ATC110 said:
I know about low margins in fuel prices ordinarily. My point is that margin was increased exponentially during the lockdowns

The current UK price for diesel is £1.22 (€1.38)

A report from 2008 has no relevance to my point
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Last Saturday the average UK price was £1.30.5 for diesel - that was from petrolprices.com. In Bishop's Stortford the price ranged from 128.9 to 132.9 p stg
I just checked Leicester. Prices are a little lower at 124.9 Tesco to 132.9 Esso

Average UK price has dropped to 129.6 stg today.

BTW - I have zero connection to the fuel trade. Never had a connection and doubt I ever will, but years ago I wondered myself about the frequent price changes, but instead of just complaining I went and found out what the price was compiled from and it was so easy to find the unformation i wondered why the media never bothered to check themselves - then I realised that the media always want to report bad news. (note how they rarely report that prices drop)

the 2008 report was a comprehensive statutory report as the precise same questions were being asked. As it was a statutory report, the answers had to be provided with backup. As the answers did not suit the mantra that prices rise quicker than they fall, it barely got reported, cos only bad news sells.
 
I'd noticed price increase last week.
And then double whammy - I may have mis-read it, but I think the vat rate returned to 23% on 1st march so that caused a bump.
 
ClubMan said:
In case it helps anybody else.
Go, Old Cabra Road, D7.
Possibly today only?

Petrol: 149.9
Diesel: 164.9

But be warned ... 70s oil crisis style queue! :D
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All three components of fuel have gone in favour of the consumer in the last few days or so and most stations will be dropping substantially over the next few days. My local station dropped 10c this evening to 1.84 diesel 1.74 petrol

Dollar .97 to $1.04 today
Refining $80 2 weeks ago, $36 today ($43 last Friday) (diesel)
Oil $95 10 days ago, $85 today

Adds up to about 25c reduction for diesel and average price of about 1.77
 
Got diesel yesterday and noticed it was a cent cheaper than the petrol. 164.9 for the diesel and 165.9 for the petrol.

I didn't see diesel cheaper than petrol for a long time.
 
RichInSpirit said:
Got diesel yesterday and noticed it was a cent cheaper than the petrol. 164.9 for the diesel and 165.9 for the petrol.

I didn't see diesel cheaper than petrol for a long time.
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Diesel was cheaper than petrol for a period late last year.
 
RichInSpirit said:
Got diesel yesterday and noticed it was a cent cheaper than the petrol. 164.9 for the diesel and 165.9 for the petrol.

I didn't see diesel cheaper than petrol for a long time.
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Diesel refining margins have dropped to $35-$40 from circa $45 petrol refining margins have jumped to $25-$30 from lows under $10.

With duty a little higher on petrol you will see diesel fall below petrol in all garages soon
 
The Cabinet are still debating whether to extend the excise duty cuts btw, no formal announcement has been made.
 
But I think they are going to extend it, eamon Ryan is against it but I think the ff and fg backbenchers want it extend it or else
 
fidelcastro said:
178c for diesel in Raheen Limerick yesterday, what a rip off.
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I never understand this "ripoff" commentary that you hear from people.

Fuel prices are the most transparent consumer goods prices out there.

The raw material cost is on every financial website, the refining margins are on several easy to find websites, the exchange rates are everywhere, revenue give the precise tax levels, vat is 23% and then the balance is what the importer and retailer gets.

Then the fuel station must display their prices on huge lit up signs so you can see the price before pulling in.

There is no product out there that is more transparent in terms of price.

A station is doing well to take 8c a litre.

At 1.78, it might be 10c a litre. Hardly a rip off


Btw, a 500ml bottle of ballygowan costs 26c in Musgrave's, yet many places charge €2 for this - THAT'S a rip off.
 
peemac said:
I never understand this "ripoff" commentary that you hear from people.

Fuel prices are the most transparent consumer goods prices out there.

The raw material cost is on every financial website, the refining margins are on several easy to find websites, the exchange rates are everywhere, revenue give the precise tax levels, vat is 23% and then the balance is what the importer and retailer gets.

Then the fuel station must display their prices on huge lit up signs so you can see the price before pulling in.

There is no product out there that is more transparent in terms of price.

A station is doing well to take 8c a litre.

At 1.78, it might be 10c a litre. Hardly a rip off


Btw, a 500ml bottle of ballygowan costs 26c in Musgrave's, yet many places charge €2 for this - THAT'S a rip off.
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I don't agree at all. 178.9 is pure rip off. Most of the garages around here are at 172.9 or 174.9 for diesel and that is expensive but 178.9 is pure rip off.
 
peemac said:
I never understand this "ripoff" commentary that you hear from people.

Fuel prices are the most transparent consumer goods prices out there.

The raw material cost is on every financial website, the refining margins are on several easy to find websites, the exchange rates are everywhere, revenue give the precise tax levels, vat is 23% and then the balance is what the importer and retailer gets.

Then the fuel station must display their prices on huge lit up signs so you can see the price before pulling in.

There is no product out there that is more transparent in terms of price.

A station is doing well to take 8c a litre.

At 1.78, it might be 10c a litre. Hardly a rip off


Btw, a 500ml bottle of ballygowan costs 26c in Musgrave's, yet many places charge €2 for this - THAT'S a rip off.
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My sentiment exactly using water as an example.
 
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