Diesel price

[Momac]

1 hour ago, Naughty Cal said:

 

 

What other option is there?

Sell the boat.

[Momac]

1 hour ago, Naughty Cal said:

 

 

The Shell garage on the A57 at Anston is still stubbornly stuck at £2 per litre. People are still going and paying it though despite it being 17ppl cheaper a couple of miles along the road.

There are similar garages near us. Some folks will not use supermarket fuel as they consider it to be inferior.

Also there are lots of people out there who are mathematically challenged. 

[davem399]

12 minutes ago, MartynG said:

There are similar garages near us. Some folks will not use supermarket fuel as they consider it to be inferior.

Also there are lots of people out there who are mathematically challenged. 

Around our part of the world, in the past month or so, the supermarkets have been more expensive that local Shell, Essex and Gulf stations, sometimes by up to 6p more per litre.  Don’t always assume that the likes of Tesco etc are going to be the cheapest.

[nicknorman]

22 hours ago, Midnight said:

Anyone know the current price of diesel at Shobnall or Fazely Mill. 

£1.35 at Fazeley last Thursday 

[ditchcrawler]

3 minutes ago, nicknorman said:

£1.35 at Fazeley last Thursday 

Gone up again then by 2p

 

[nicknorman]

Just now, ditchcrawler said:

Gone up again then by 2p

 

No actually I could be misremembering, we get 10% off so it was less for us. 

[Naughty Cal]

1 hour ago, davem399 said:

Around our part of the world, in the past month or so, the supermarkets have been more expensive that local Shell, Essex and Gulf stations, sometimes by up to 6p more per litre.  Don’t always assume that the likes of Tesco etc are going to be the cheapest.

It's definitely the other way round here. The supermarkets are leading the price drops.

 

I had a look through the 2022 diary last night and at the beginning of the year we were paying £1.40 per litre for diesel. I don't think we will get back down to that sort of price again!

 

[Alway Swilby]

Meanwhile, in other news BP's profits triple to £7bn PER QUATER! BP Profit

[Momac]

22 minutes ago, Alway Swilby said:

Meanwhile, in other news BP's profits triple to £7bn PER QUATER! BP Profit

[peterboat]

2 hours ago, MartynG said:

Yes but they are going to invest it in EV charging infrastructure ready for the future, otherwise shortly they won't have much income. 

Sorry quoted wrong post meant to do previous one but yes you are correct better they and Shell invest in the future than us via taxes

 

Edited August 2, 2022 by peterboat

[Momac]

3 minutes ago, peterboat said:

Yes but they are going to invest it in EV charging infrastructure ready for the future, otherwise shortly they won't have much income. 

 

I don't know about ''shortly''.

 

I did not make any judgment on the matter 

But it's not such a bad thing if they are investing profits  into energy projects .

Tax them heavily and what  happens to that investment? 

Note some of the investment will be in oil and gas which we do still need.

.

[Athy]

It's good to see a British company doing well [no pun intended].

I suppose that some people will moan because they're doing too well.

Other people would moan if they were doing badly and had to be rescued with state money.

 

Damned if you do, damned if you don't.

[nicknorman]

6 minutes ago, Athy said:

It's good to see a British company doing well [no pun intended].

I suppose that some people will moan because they're doing too well.

Other people would moan if they were doing badly and had to be rescued with state money.

 

Damned if you do, damned if you don't.

I don’t think it is the fault of BP, it is the fault of the global “system” whereby people make a lot of money trading energy “futures”. They contribute absolutely nothing of any use, they are just parasites taking a middle man cut at the expense of the end user.

 

The annoying thing is that it isn’t costing any more to produce oil and gas, there isn’t a shortage of oil or gas in the UK, and yet prices have skyrocketed because of these traders. BP of course are laughing all the way to the bank, and you can’t really blame them.

[ditchcrawler]

As an ex Shell employee I have some Shell shares and their value is still down on 2 years ago. As for Dividend, well it may be good this time but it wasn't so good a short time back and no one mentions that.

[davem399]

4 minutes ago, ditchcrawler said:

As an ex Shell employee I have some Shell shares and their value is still down on 2 years ago. As for Dividend, well it may be good this time but it wasn't so good a short time back and no one mentions that.

I’m an ex BP employee, and BP making large profits doesn’t help me as the pension fund can’t invest in its own company.  I believe other pension funds are significant shareholders and will benefit.

Edited August 3, 2022 by davem399

[PD1964]

23 minutes ago, ditchcrawler said:

As an ex Shell employee I have some Shell shares and their value is still down on 2 years ago. As for Dividend, well it may be good this time but it wasn't so good a short time back and no one mentions that.

  Well you know what to do, go and buy more diesel from a Shell garage and cruise more, so your dividend will increase and you’ll be out on the boat, so a win win solution for you.😂😂

Edited August 3, 2022 by PD1964

[MtB]

27 minutes ago, Athy said:

It's good to see a British company doing well [no pun intended].

I suppose that some people will moan because they're doing too well.

Other people would moan if they were doing badly and had to be rescued with state money.

 

Damned if you do, damned if you don't.

 

 

A curious thing about accounting practise is that a company needs to make a higher profit than the man on the apocryphal Clapham omnibus thinks is reasonable.

 

This is because money invested in research and development for the future is by convention, funded from profit made. 

 

So in extremis, let's imagine BP made £7bn profit in a three month period. Ludicrously unlikely I grant you but if BP then spent that £7bn on electric charging points everywhere, how much profit would you say their books would show for the period? 

 

The omnibus bloke would intuitively say zero but in fact the profit according to the published accounts would still be £7bn. 

 

 

 

 

 

 

Edited August 3, 2022 by MtB
Speeling

[Mike Todd]

20 hours ago, Alway Swilby said:

Meanwhile, in other news BP's profits triple to £7bn PER QUATER! BP Profit

So? What profit level would you consider to be acceptable? 

 

It only makes sense to quote the profit in relation to something like turnover or capitalisation. Otherwise you would only approve of micro businesses even though they might actually be more profiteering. BP and similar are just gigantic businesses - that's the real worry.

[ditchcrawler]

Its a bit like the profit the betting companies make, but when you look at the size of their customer base its only a small amount per head

[Alway Swilby]

16 hours ago, Mike Todd said:

So? What profit level would you consider to be acceptable? 

 

It only makes sense to quote the profit in relation to something like turnover or capitalisation. Otherwise you would only approve of micro businesses even though they might actually be more profiteering. BP and similar are just gigantic businesses - that's the real worry.

 

16 hours ago, ditchcrawler said:

Its a bit like the profit the betting companies make, but when you look at the size of their customer base its only a small amount per head

Yes, I get all that. The point I was trying to make was that their profit tripled in 3 months while we're all moaning about high diesel prices.

[MtB]

58 minutes ago, Alway Swilby said:

 

Yes, I get all that. The point I was trying to make was that their profit tripled in 3 months while we're all moaning about high diesel prices.

 

Not according to their published accounts.

 

They made a loss of $20bn in the first quarter of 2022. 

 

Just to put this into perspective.

 

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/first-quarter-2022-results.html

 

 

[Alway Swilby]

30 minutes ago, MtB said:

 

Not according to their published accounts.

 

They made a loss of $20bn in the first quarter of 2022. 

 

Just to put this into perspective.

 

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/first-quarter-2022-results.html

 

 

Ah! I got it wrong. I suppose it depends which profit you are talking about. Obvs I was talking about the "Underlying Replacement Cost Profit" not the "Profit Attributable to the BP Shareholders".

 

Also I was looking at the wrong quater, should have been the 2nd quater of 2021 not the first quater of 2022

 

From the Guardian aticle: "The FTSE 100 oil company on Tuesday said its preferred measure of profit, which it describes as its underlying replacement cost profit, rose to $8.5bn (£6.9bn) between April and June. That is up from $6.2bn in the first three months of the year, and three times BP’s underlying profits of $2.8bn in the second quarter of 2021."

 

Accountants (and media oultets) can always make figures look like they want them to look.

 

Anyway, our most recent purchase of diesel cost us £1.23 per litre at Priory Marina in Bedford.

[MtB]

To be fair the $20bn loss was a result of BP "Doing the Right Thing" and dumping their holding in the Russian oil company Rosneft at a 100% total loss. But the thing is, no-one criticising now is giving them credit for taking that one on the chin. 

 

 

[PaulJ]

32 minutes ago, Alway Swilby said:

 

Anyway, our most recent purchase of diesel cost us £1.23 per litre at Priory Marina in Bedford.

That is a very good price-especially so as its on the River..

[ditchcrawler]

2 hours ago, MtB said:

 

 

They made a loss of $20bn in the first quarter of 2022. 

 

 

 

Don't spoil a good story