Diesel price

[Midnight]

To get back on topic if anyone is interested I filled up at Shobnall today £1.21 ltr.

[Momac]

32 minutes ago, Midnight said:

To get back on topic if anyone is interested I filled up at Shobnall today £1.21 ltr.

This will be at the 100% domestic duty rate ?

[Midnight]

15 hours ago, MartynG said:

This will be at the 100% domestic duty rate ?

"You may think that, I couldn't possibly comment"

[MtB]

9 minutes ago, Midnight said:

"You may think that, I couldn't possibly comment"

 

Yes then! 

 

 

[enigmatic]

On 03/08/2022 at 10:21, MtB said:

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. 

The money reinvested in research & development is a cost subtracted from the company's taxable profits. Frankly nothing would make oil companies more inclined to aggressively invest in renewables than the threat of a windfall tax...

 

 

23 hours ago, MtB said:

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. 

This is a fair point and definitely the best argument for not taxing specific energy companies that took huge Q1 losses for that reason, but let's face it, if they'd been in real trouble as a result they'd have definitely got government funding to help them out....

 

 

23 hours ago, Alway Swilby said:

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

When was that? I paid £1.56 for red there recently, and thought considering what other marinas on the Great Ouse that actually sell diesel asked for it wasn't such a bad deal...

Edited August 5, 2022 by enigmatic

[Alan de Enfield]

7 minutes ago, enigmatic said:

When was that? I paid £1.56 for red there recently, and thought considering what other marinas on the Great Ouse that actually sell diesel asked for it wasn't such a bad deal...

 

You maybe had a tax-split for domestic and propulsion, whilst the £1.23 could be 100% domestic.

 

 

44 minutes ago, Midnight said:

"You may think that, I couldn't possibly comment"

 

[MtB]

26 minutes ago, enigmatic said:

The money reinvested in research & development is a cost subtracted from the company's taxable profits.

 

 

This is true too, but I wondered how soon my point would be undermined by someone conflating net profit with taxable profit.  The media conveniently uses net profit, not taxable profit when wanting a stick with which to beat companies such as BP for making 'excess profit'.

 

Or do you hold the £7bn BP is currently being condemned for is their taxable profit? Genuine question, I don't know.

 

 

[enigmatic]

22 minutes ago, Alan de Enfield said:

You maybe had a tax-split for domestic and propulsion, whilst the £1.23 could be 100% domestic.

£1.56 was the base price without duty, and that's low compared with a couple of nearby places I asked which would barely have been cheaper at 0 rated than buying white diesel from one of the local petrol stations

 

Possible the OP had access to a more favourable rate via Aquavista fuel cards, and it had gone up by 8p from what they quoted when I rang them at the beginning of the week to check their diesel was on general sale

 

Just now, MtB said:

This is true too, but I wondered how soon my point would be undermined by someone conflating net profit with taxable profit.  The media conveniently uses net profit, not taxable profit when wanting a stick with which to beat companies such as BP for making 'excess profit'.

 

Or do you hold the £7bn BP is currently being condemned for is their taxable profit? Genuine question, I don't know.

Apparently they call it an "underlying replacement cost profit", which I guess means it covers the green stuff only to the extent it's planned to replace existing infrastructure. So fair enough, they definitely could sink some of that into renewables if they wanted to... and probably far more of it into renewables if a windfall tax was introduced

 

 

Not sure I'd consider profits after accountants have massaged the figures for tax purposes a better headline figure for how they're doing than a more general measure of money earned versus money spent making and selling stuff and saved for fixing their infrastructure though (poor unprofitable Google UK!). Even when the company is actually reinvesting profits rather than relocating them, that reinvestment can be chucking money into the marketing budget or buying up competitors rather than advanced tech research.

[Alway Swilby]

3 hours ago, enigmatic said:

 

When was that? I paid £1.56 for red there recently, and thought considering what other marinas on the Great Ouse that actually sell diesel asked for it wasn't such a bad deal...

Wesnesday 20th July. It was 100% domestic. She did say we got it at the old price and it was due to go up imminently.

[Stilllearning]

Is there anything like the FuelFlash app that we use here, for diesel sales on the cut?

[ditchcrawler]

7 minutes ago, Stilllearning said:

Is there anything like the FuelFlash app that we use here, for diesel sales on the cut?

I think this is as close as it gets New tab (afmm.org.uk)

[Naughty Cal]

Have passed several petrol stations today selling diesel at 179.9ppl. 

 

It is heading in the right direction. We decided against refuelling today and are gambling on it dropping further in the next week or so. 

 

Current prices give an £18 per tank saving for the van over the highs of £2 a litre. So not a huge amount but not to be sniffed at either.

Edited August 7, 2022 by Naughty Cal

[Athy]

21 minutes ago, Naughty Cal said:

 

 

Current prices give an £18 per tank saving for the van over the highs of £2 a litre. So not a huge amount but not to be sniffed at either.

Well, quite so: would you rather have £18 or not have £18?

Mrs. Athy spotted petrol at £1.71.9 per litre the other day. Bargain.

I do think that the point nine is rather silly these days.

[Naughty Cal]

6 minutes ago, Athy said:

Well, quite so: would you rather have £18 or not have £18?

Mrs. Athy spotted petrol at £1.71.9 per litre the other day. Bargain.

I do think that the point nine is rather silly these days.

Absolutely we would rather have it in our pocket.

[alan_fincher]

On 04/08/2022 at 09:51, MtB said:

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. 

 

 

 

Exactly this.

[beerbeerbeerbeerbeer]

£1.31 at Fazely for domestic. 

[Momac]

Maybe the price is moving gradually towards a more tolerable level

 

 

[Rob-M]

1 minute ago, MartynG said:

Maybe the price is moving gradually towards a more tolerable level

 

 

Not in Great Haywood, £1.65 domestic today.

[Midnight]

Fazely Mill £1.31

[Momac]

Never seen such wide variations in the price. I guess it will settle down eventually. 

 

[MtB]

Should boatyards with a few thousand litres of diesel in their tanks that they paid (say) £1.20 a litre for, now have to sell it at a loss? 

 

Just wondering what the board thinks. 

 

 

 

Edited August 12, 2022 by MtB
Clarify.

[Peanut]

Current cost accounting says you sell to cover the replacement cost, or you loose money.

I paid 1.71 for petrol at Add a today,

[MtB]

22 minutes ago, Peanut said:

Current cost accounting says you sell to cover the replacement cost, or you loose money.

I paid 1.71 for petrol at Add a today,

 

Yes that makes sense, thanks.

 

The petrol station up the road from me persisted in charging £2.00 for diesel for about two weeks before caving in and price-matching the petrol station across the road that was selling it for £1.87. 

 

 

 

 

[davem399]

Locally, the expensive fuel is still at the supermarkets.  It’s cheaper by a couple of pence per litre at our Shell and Esso stations.  There was an article on the BBC earlier in the week where the RAC accused the supermarkets of being slow to respond to the drop in wholesale fuel prices compared to other sellers.

[MtB]

1 hour ago, davem399 said:

Locally, the expensive fuel is still at the supermarkets.  It’s cheaper by a couple of pence per litre at our Shell and Esso stations.  There was an article on the BBC earlier in the week where the RAC accused the supermarkets of being slow to respond to the drop in wholesale fuel prices compared to other sellers.

 

 

This is odd isn't it? Supermarket fuel used to be the cheapest around and often by a good margin. Not so any longer. Sainsbury's in Newbury is the most expensive fuel for miles around. Oddly though, Sainsbury's by the west Reading exit of M4 and Asda in Earley, Reading are cheapest I ever see, but only by a penny or so.