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Post by foghornsgleghorn on Jun 21, 2022 21:13:32 GMT
not that much of an increase from December to January it's only £20 But it's an increase in top of 2 huge previous increases. Pre increase I was paying about 2k for gas and electric a year. At the moment that is up to about 3.5k. There is going to be a further 50% hike in October that will take to about 4.2k a year for gas and electric. Which ever way you look at it that's just shy of 400 a month to heat and power my home. The best fixed rate tariff I'm being offered would equate to over 7k a year / 550 a month. It's bonkers The day the tanks rolled I went online and fixed for 2 years at 8% above the April price cap. It meant I paid well over the October 21 cap for March, and of course am paying more than I could be Apr-Oct but it's starting to look like the right decision. I feel for people facing the full force of the October rise, even with the £400 from the Government.
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Post by salopstick on Jun 21, 2022 21:33:11 GMT
I tell you what fucks me off too. Morrisons in Drayton is always around 6p a litre more than Newcastle or Shrewsbury It’s because of the Shell garage over the road. Morrison’s just keep their prices a bit less than there, so if they put it up so do Morrison’s. Basically have your pants down because they know people need fuel and there’s nowhere else. I think the one down by Tern Hill is meant to be cheaper at the moment. Tern Hill roundabout is even dearer
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Post by neworleanstokie on Jun 21, 2022 23:44:17 GMT
I rarely buy gas/pretrol as I don't own a car but I paid the equivalent of GBP 1.10 a litre yesterday in Southampton, NY.
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Post by deeside2 on Jun 22, 2022 4:33:57 GMT
My wife drove past our nearest Tesco yesterday and diesel was 194.9 a litre. She drove past again on her way home three hours later and it had gone up to 199.9. The price can't just keep on rising, can it ?
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Post by clarkeda on Jun 22, 2022 6:59:27 GMT
My wife drove past our nearest Tesco yesterday and diesel was 194.9 a litre. She drove past again on her way home three hours later and it had gone up to 199.9. The price can't just keep on rising, can it ? Yup.
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Post by superjw on Jun 22, 2022 7:10:36 GMT
My wife drove past our nearest Tesco yesterday and diesel was 194.9 a litre. She drove past again on her way home three hours later and it had gone up to 199.9. The price can't just keep on rising, can it ? Yep, same with everything else. While the government do the square root of sod all about it
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Post by Seymour Beaver on Jun 22, 2022 12:41:34 GMT
The following calculation comes with a health warning based on my memory from my road transport days - so if anyone else is closer to the data than I am please correct me.
The driver for diesel prices is actuallly GasOil which is refined a derivative traded internationally in USD. The actual price is normally only available to index subscribers but as far as I can make out last week it traded at $1,320 pmt.
Conversion rate to litres is 1176l/t so $1.12/litre - which at £/$ 1.22 is £0.92
Duty is £0.5259 - so £1.446/litre to which you need to add VAT -
£1.735ppl
Now that is still at the refinery so needs to be delivered to forecourt. Rates vary but a generous one would be 3pppl.
So retailers are likely to be currently paying £1.765/litre.
From driving in town this morning mark-up even at supermarkets is in the region of 18-24ppl
If my calculations are correct then that, I would repectfully suggest - is profiteering.
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Post by mtrstudent on Jun 22, 2022 14:35:20 GMT
The following calculation comes with a health warning based on my memory from my road transport days - so if anyone else is closer to the data than I am please correct me. The driver for diesel prices is actuallly GasOil which is refined a derivative traded internationally in USD. The actual price is normally only available to index subscribers but as far as I can make out last week it traded at $1,320 pmt. Conversion rate to litres is 1176l/t so $1.12/litre - which at £/$ 1.22 is £0.92 Duty is £0.5259 - so £1.446/litre to which you need to add VAT - £1.735ppl Now that is still at the refinery so needs to be delivered to forecourt. Rates vary but a generous one would be 3pppl. So retailers are likely to be currently paying £1.765/litre. From driving in town this morning mark-up even at supermarkets is in the region of 18-24ppl If my calculations are correct then that, I would repectfully suggest - is profiteering. In the US financial news they're saying oil drilling isn't going up much because all the shale oil companies lost so much money over past few years they're using everything to pay of debt and give money back to shareholders. Right when we need oil rapid like.
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Post by RF10 on Jun 22, 2022 16:59:29 GMT
I really wouldn't be bothered about the petrol rise if the government increased mileage allowance rebate. The 45p is a joke at the moment.
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Post by BuzzB on Jun 22, 2022 21:22:57 GMT
I was in Gibraltar last week, £1.26 a litre diesel
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Post by noustie on Jun 23, 2022 9:13:21 GMT
I used to travel 65 mile each way to get to the office every day - following lockdown we are on 3 and 2 hybrid. I'm more now for 3 days than I was for 5!
We've a more local office to me that wants me to transfer - deals with smaller stuff but they've said they'll transfer on same T&Cs. Wouldn't have been that bothered before but with the time spent on commuting and the pennies saved on fuel, with the adoption on the horizon, it almost feels ridiculous not to take it.
Fortunate position to be in but don't know whether to stick with the bigger office or move to the smaller one and hope someone with a spreadsheet doesn't close it if/when the economy tanks.
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Post by lawrieleslie on Jun 24, 2022 7:46:53 GMT
I’d like to see the justification for this little gem…….2 weeks ago I topped up at our village petrol station and paid 183.9ppl for diesel. Came back from Wales last Monday and the price had gone to 199.9ppl …..a 16ppl increase in 10 days, we are being royally ripped off imo 😡
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Post by chuffedstokie on Jun 24, 2022 11:20:48 GMT
Christ that escalated quickly, yesterday diesel was £1.83 a litre went past this morning and it's £1.99. It's the only station for a good few miles around here in this bit of Wales but bloody hell that was rapid.
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Post by rivival on Jun 25, 2022 2:28:07 GMT
The diesel has stopped at 1.99 today but petrol is still catching up at 1.93.
I assume that they purchased it in bulk so why the government allow this blatant profiteering is beyond me.
This must be what Boris meant by levelling up Britain as we are now paying London prices for petrol^^
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Post by deeside2 on Jun 25, 2022 5:24:29 GMT
I caught some of Jeremy Vine on R2 last week. He was speaking to some owners of small independent petrol stations and they were saying they were only making roughly 5p per litre profit. Their fuel supplier is dictating what price they must charge at the pumps or they will stop supplying them with petrol/deisel. They said the recent 5ppl government reduction was passed on to the customer, but the fuel companies "coincidentally" increased the supply cost to the garages the same day, so in effect the pump price actually went up.
They said the fuel companies are making vast profits, and the supermarkets are also instantly raising their prices if the current wholesale price rises, even though they're selling fuel they bought at (much) lower prices several weeks before. The government are quite happy as they're raking in massive tax revenue.
It's blatant profiteering and we're being absolutely shafted.
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Post by chuffedstokie on Jun 25, 2022 9:38:37 GMT
I caught some of Jeremy Vine on R2 last week. He was speaking to some owners of small independent petrol stations and they were saying they were only making roughly 5p per litre profit. Their fuel supplier is dictating what price they must charge at the pumps or they will stop supplying them with petrol/deisel. They said the recent 5ppl government reduction was passed on to the customer, but the fuel companies "coincidentally" increased the supply cost to the garages the same day, so in effect the pump price actually went up. They said the fuel companies are making vast profits, and the supermarkets are also instantly raising their prices if the current wholesale price rises, even though they're selling fuel they bought at (much) lower prices several weeks before. The government are quite happy as they're raking in massive tax revenue. It's blatant profiteering and we're being absolutely shafted. Station in Tywyn had another delivery this morning, think I know what's coming next. ☹️
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Post by Northy on Jun 25, 2022 21:45:11 GMT
I topped up the car this evening for free at the charging point at the hotel, can't believe its free 😁
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Post by andystokey on Jun 26, 2022 7:36:55 GMT
Went to Tesco thinking it would be cheaper, wrong. I was at one of those pay at pump things which limits your card to £99. I've never needed to watch the pump stop my fuel before interesting how it works.
Anyway got in the car and the guage was at 75% for £99 jeez.
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Post by andystokey on Jun 26, 2022 7:49:30 GMT
I topped up the car this evening for free at the charging point at the hotel, can't believe its free 😁 That will soon end when a few more have got into electric cars mate. On a different note I was listening to R4 with Evan Davis this week talking about the fuel trade and this independent bloke was on saying converting to electricity on his forecourt would cost millions. You probably know about this Northy but the forecourt only had enough supply for about 20 odd actual car charges per day under the current electricity supply regime. Without building their own substation at the site. Only the big boys will ever decide to do that so more monopoly on price under a green banner I assume with HMG taking a percentage.
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Post by lawrieleslie on Jun 26, 2022 7:55:34 GMT
Christ that escalated quickly, yesterday diesel was £1.83 a litre went past this morning and it's £1.99. It's the only station for a good few miles around here in this bit of Wales but bloody hell that was rapid. We were in mid and north wales for 10 days 11th-21st June and the most expensive for diesel was at Builth Wells at 203ppl and the cheapest 193.9ppl at Conwy.
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Post by Northy on Jun 27, 2022 6:30:59 GMT
Christ that escalated quickly, yesterday diesel was £1.83 a litre went past this morning and it's £1.99. It's the only station for a good few miles around here in this bit of Wales but bloody hell that was rapid. We were in mid and north wales for 10 days 11th-21st June and the most expensive for diesel was at Builth Wells at 203ppl and the cheapest 193.9ppl at Conwy. I was at Llyn Brenig yesterday looking at the Ospreys, being at Bodelwyddan and Beaumaris this weekend, I have noticed it is expensive out in the sticks.
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Post by lawrieleslie on Jun 27, 2022 7:20:49 GMT
We were in mid and north wales for 10 days 11th-21st June and the most expensive for diesel was at Builth Wells at 203ppl and the cheapest 193.9ppl at Conwy. I was at Llyn Brenig yesterday looking at the Ospreys, being at Bodelwyddan and Beaumaris this weekend, I have noticed it is expensive out in the sticks. We spent an afternoon watching the spectacle of Red Kites feeding on a farm in Rhayader. Took the bikes and did the Elan Valley only problem being all the reservoirs are nearly empty due to valve replacements by the water authority. Still fabulous scenery though.
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Post by chuffedstokie on Jun 27, 2022 8:17:55 GMT
We were in mid and north wales for 10 days 11th-21st June and the most expensive for diesel was at Builth Wells at 203ppl and the cheapest 193.9ppl at Conwy. I was at Llyn Brenig yesterday looking at the Ospreys, being at Bodelwyddan and Beaumaris this weekend, I have noticed it is expensive out in the sticks. That'll be me then.
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Post by mattador78 on Jun 27, 2022 8:55:23 GMT
I went Manchester last weds watch a concert thought I better fill up here before I go as I didn’t want get rinsed there. It was 6p a ltr cheaper than in Kidsgrove when I got there 🤦♂️
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Post by spitthedog on Jun 27, 2022 9:35:16 GMT
What are people's explanations for this massive price hike assuming that everyone else thinks the Russia/Ukraine narrative is just bullshit.
When you consider that since 2018 US has been the largest producer of oil and natural gas in the world, currently holds huge surpluses, is the 3rd biggest exporter and the profits of oil companies is set to rise from 174m dollars in 2021 to 834m dollars in 2022.
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Post by noustie on Jun 27, 2022 9:56:42 GMT
Speaking on radio this morning about paying people £6 an hour in winter to turn off their electric during peak periods.
Sounds like blackouts could be a realistic possibility!!
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Post by Seymour Beaver on Jun 27, 2022 10:32:25 GMT
What are people's explanations for this massive price hike assuming that everyone else thinks the Russia/Ukraine narrative is just bullshit. When you consider that since 2018 US has been the largest producer of oil and natural gas in the world, currently holds huge surpluses, is the 3rd biggest exporter and the profits of oil companies is set to rise from 174m dollars in 2021 to 834m dollars in 2022. Although linked gas and oil are not the same market. 40% of EU gas comes from Russia and that's not readily replaceable from elsewhere because of the nature of the infrastructure. Threaten to cut that off and you'll get a price hike. Although only 10% of the worlds oil comes from Russia then the oil price is probably reflective of that - it's not the first or only time oil has been north of $100 for a relatively sustained period and it's been higher than it is now. However we're suffering from a current weakness in Sterling so having an additional effect locally and - as I posted earlier in the thread - I do think there is a bit of profiteering at the pumps - £1.80 being closer to what a litre of diesel should be - not £1.95. Commodity markets react as much to uncertainties and fears of shortages as they do actual shortages - so the risk of Ukraine/Russia escalating and causing wider disruption gets priced in with more traders buying into the market further forward to either secure supply or sell on at a profit if things do get worse. That sentiment I suspect- as more missiles rain down on Kyiv - is still weighing heavily. For those with their hands on the taps at oilfields they have the balancing act - restricting (or not increasing) supply short term is a good thing for them - it raises profits. Keeping it to high for too long risks recession and with it falling demand and price. So in short there are a number of factors but I'm sure there are conspiracy theories out there too!
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Post by mattador78 on Jun 28, 2022 8:53:55 GMT
What are people's explanations for this massive price hike assuming that everyone else thinks the Russia/Ukraine narrative is just bullshit. When you consider that since 2018 US has been the largest producer of oil and natural gas in the world, currently holds huge surpluses, is the 3rd biggest exporter and the profits of oil companies is set to rise from 174m dollars in 2021 to 834m dollars in 2022. Although linked gas and oil are not the same market. 40% of EU gas comes from Russia and that's not readily replaceable from elsewhere because of the nature of the infrastructure. Threaten to cut that off and you'll get a price hike. Although only 10% of the worlds oil comes from Russia then the oil price is probably reflective of that - it's not the first or only time oil has been north of $100 for a relatively sustained period and it's been higher than it is now. However we're suffering from a current weakness in Sterling so having an additional effect locally and - as I posted earlier in the thread - I do think there is a bit of profiteering at the pumps - £1.80 being closer to what a litre of diesel should be - not £1.95. Commodity markets react as much to uncertainties and fears of shortages as they do actual shortages - so the risk of Ukraine/Russia escalating and causing wider disruption gets priced in with more traders buying into the market further forward to either secure supply or sell on at a profit if things do get worse. That sentiment I suspect- as more missiles rain down on Kyiv - is still weighing heavily. For those with their hands on the taps at oilfields they have the balancing act - restricting (or not increasing) supply short term is a good thing for them - it raises profits. Keeping it to high for too long risks recession and with it falling demand and price. So in short there are a number of factors but I'm sure there are conspiracy theories out there too! I’m pretty sure I heard somewhere that it’s not so much the oil driving up petrol prices it’s actually the ability to refine it to diesel and petrol causing the issue
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Post by Seymour Beaver on Jun 28, 2022 9:42:12 GMT
Although linked gas and oil are not the same market. 40% of EU gas comes from Russia and that's not readily replaceable from elsewhere because of the nature of the infrastructure. Threaten to cut that off and you'll get a price hike. Although only 10% of the worlds oil comes from Russia then the oil price is probably reflective of that - it's not the first or only time oil has been north of $100 for a relatively sustained period and it's been higher than it is now. However we're suffering from a current weakness in Sterling so having an additional effect locally and - as I posted earlier in the thread - I do think there is a bit of profiteering at the pumps - £1.80 being closer to what a litre of diesel should be - not £1.95. Commodity markets react as much to uncertainties and fears of shortages as they do actual shortages - so the risk of Ukraine/Russia escalating and causing wider disruption gets priced in with more traders buying into the market further forward to either secure supply or sell on at a profit if things do get worse. That sentiment I suspect- as more missiles rain down on Kyiv - is still weighing heavily. For those with their hands on the taps at oilfields they have the balancing act - restricting (or not increasing) supply short term is a good thing for them - it raises profits. Keeping it to high for too long risks recession and with it falling demand and price. So in short there are a number of factors but I'm sure there are conspiracy theories out there too! I’m pretty sure I heard somewhere that it’s not so much the oil driving up petrol prices it’s actually the ability to refine it to diesel and petrol causing the issue Both are factors. As I posted further up the thread Gasoil is the determinant of Diesel prices rather than Crude per se. However they don't typically go in opposite directions - if Crude's up so will be Gasoil Crude has increased by a factor of 70% in the past 12 months while Gasoil by 100% - US refinery capacity explaining much of the additional 30%. The Pandemic flattened both prices but a combination of Ukraine and economies opening up has exposed what was - pre pandemic - an already emerging trend. As a refinery is a 50 year investment and investors are being told the future is electric cars (I oversimplify but you know what I mean) it will probably only get worse.
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Post by Rednwhitenblue on Jun 28, 2022 9:58:08 GMT
We were in mid and north wales for 10 days 11th-21st June and the most expensive for diesel was at Builth Wells at 203ppl and the cheapest 193.9ppl at Conwy. I was at Llyn Brenig yesterday looking at the Ospreys, being at Bodelwyddan and Beaumaris this weekend, I have noticed it is expensive out in the sticks. It often is, back in the days I was living in Scotland, those remote parts of Perthshire and the Cairngorms had eye-wateringly expensive fuel. It must be well over £2-00 a litre now, I'd guess. Presumably it's linked to the added cost of getting tankers there, combined with the lower volumes sold?
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