Diesel prices are they dropping

[bigste]

Here in Spain petrol is a gnats whisker under a quid at Carrefour and derv is about 10p less and still falling.

[Alan de Enfield]

Paid 46.5p/litre + VAT for red diesel and 48.5p + VAT for central heating oil 2 weeks ago.

Takes some phoning around and playing one supplier off against another but can be done.

 

Marina has dropped the price for red diesel from 97p to 84p in the last month.

BWML are tied to one supplier so have no room to negotiate.

Edited December 12, 2014 by Alan de Enfield

[Naughty Cal]

Drove past one filling station this morning with unleaded at £1.14 per litre.

 

It isn't that long ago we were paying £1.34 for unleaded.

 

We have not bought any red for the boat for a while so don't know if that has dropped yet locally.

[Athy]

The TV said Petrol is below £1 20p Lt

So does the sign outside the petrol station on our side of Wisbech: 116.9p per litre of petrol, 122.9p per litre of diesel (which is what we use).

I wonder why diesel is always a few pence dearer than petrol. Is there more duty on it? I have not noticed this disparity when I've been in Spain or France.

I am just going to order another 1000 litres whilst its cheap so will post how much it costs when I get the bill

 

Peter

I have just ordered 500 litres of domestic heating oil for £227. I think (without going back through my old bills) that's the cheapest it has been for about five years. That's from Boiler Juice who are consistently the best value supplier.

[Jambo]

 

The US has become a net exporter of oil in recent years. That's making a big difference on the international market. Saudi Arabia's break even point on oil is about $30/bbl, and they've said they have no intention of cutting production. Russia relies heavily on their oil income, and will probably increase production to make up for lower prices. There's a glut of oil on the market, and oil producers are unable to control production to create a shortage so they are selling more to make up the income loss. There has also been downward pressure on prices due to legislation in the US that prohibits much of the speculation in oil futures. That speculation was adding about 40% to the cost of oil.

 

Petrol prices here have only dropped about 20% - 25%. Funny how when the price of crude is going up, the price at the pump rises immediately, but when it is going down, pump prices remain stubbornly high.

 

This is a long-term situation that bodes well for everyone but oil producers and the environment. Although, if it puts the brakes on fracking and tar sands production, that would certainly be a bonus.

 

The US has become a net exporter of refined petroleum products (i.e. it exports more refined petroleum than it imports refined petroleum) but it's still a long way off being a net exporter of oil and it's very unlikely that it ever will be.

 

OPEC could cut production if they wanted to but they don't want to because their aim is to kill off a large chunk of the US tight oil production. Once they've achieved that oil will return to its normal price above $100 a barrel. A lot of the OPEC countries are really suffering with prices this low because they need $100+ oil to balance their budgets.

[Machpoint005]

And what mention of this in the Scottish Independence issue? Those who forecasted that Scotland would become stinking rich overnight because of oil revenues carefully avoided mentioning what might happen if there was a sudden recession in the industry, yet the writing was on the wall well before September. The fact that the "No" campaign didn't mention it either tells you a lot about the quality of today's politicians.

 

Hmm. What this in fact reminds us is that it is unwise for any national economy to be dependent on just one commodity or industry.

 

Fuel prices 'at the pump' will take time to react to price reductions in the raw material, though. The stuff you buy today cost more than the current crude price when it entered the refinery. Yes, I know the reverse also applies, and it doesn't stop the oil companies putting up prices at the merest hint of an increase, but the time frame in which they operate is different from yours or mine putting diesel in car or boat.

 

The US has become a net exporter of refined petroleum products (i.e. it exports more refined petroleum than it imports refined petroleum) but it's still a long way off being a net exporter of oil and it's very unlikely that it ever will be.

 

OPEC could cut production if they wanted to but they don't want to because their aim is to kill off a large chunk of the US tight oil production. Once they've achieved that oil will return to its normal price above $100 a barrel. A lot of the OPEC countries are really suffering with prices this low because they need $100+ oil to balance their budgets.

 

And Saudi and Iraq don't give a stuff if Venezuela fails.

[Jambo]

This is true but both Iraq and Saudi need $100+ oil to balance their budgets:

 

http://graphics.wsj.com/lists/opec-meeting

 

Saudi has stacks of cash reserves so they can handle it but they probably won't have to wait long til it's back up there unless the global economy takes a serious nose dive (which is very possible).

[ditchcrawler]

Drove past one filling station this morning with unleaded at £1.14 per litre.

 

It isn't that long ago we were paying £1.34 for unleaded.

 

We have not bought any red for the boat for a while so don't know if that has dropped yet locally.

When you get to the Fens then the cheapest inland is at The Little Ouse Moorings about half a mile from the Ship pub. Say hello to Natalie for me.

[Naughty Cal]

When you get to the Fens then the cheapest inland is at The Little Ouse Moorings about half a mile from the Ship pub. Say hello to Natalie for me.

Thanks for that. We will need to fill up at some point whilst we are on the Fens.

[Paul G2]

The current price manipulation is simply designed to bring war between the eu and Russia closer, this being the long-term aim of the eu.

 

Anyone who thinks the above statement is hyperbole should read this article by former US Congressman Ron Paul.

 

Or just Google H. Res. 758

 

Even Henry Kissinger, one of the biggest warmongers and most rabid neocons on earth, says what we are doing in regards to Russia right now is insane.

 

"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones". Albert Einstein

 

Anyone who thinks that Russia won't resort to nuclear weapons to repel an invasion, doesn't know Russia.

 

 

 

Edited for punctuation.

Edited December 12, 2014 by Paul G2

[Southern Star]

I've just had my diesel price come through for next week, and it's dropped from 98.54 ppl to 95.53 ppl which is the biggest weekly fall I've ever seen.

[furnessvale]

So does the sign outside the petrol station on our side of Wisbech: 116.9p per litre of petrol, 122.9p per litre of diesel (which is what we use).

I wonder why diesel is always a few pence dearer than petrol. Is there more duty on it? I have not noticed this disparity when I've been in Spain or France.

Quite simply, supply and demand. There is a shortage of diesel refining capacity in the UK, so some has to be imported from other countries that have a surplus of diesel.

 

George ex nb Alton retired

[Athy]

Well, there's my new word for today: "neocon". It is apparently an abbreviation for "neoconservative", which I assume (though the Wikipaedia entry woffles on without offering a straight definition so I gave up reading it partway through) to be a modern right-wing political movement.

[egret]

Just filled boat up this afternoon 1000 litres at 51.3 per litre.

[ditchcrawler]

Just filled boat up this afternoon 1000 litres at 51.3 per litre.

and I thought I had a good size tank

[b0atman]

Lowestoft probably a trawler then

[luggsy]

I am Moored just before bridge 69 on the Mersey Taft bridge , fuel boat Dexta 75p ltr

[Mike Todd]

Here in Spain petrol is a gnats whisker under a quid at Carrefour and derv is about 10p less and still falling.

Comparing road fuel prices in different countries is bery complex as each has a different tax/duty regime - just look at US prices!

 

BTW, I though that you still had to pay duty on jhome made bio diesel?

[Guest]

Drove past one filling station this morning with unleaded at £1.14 per litre.

 

It isn't that long ago we were paying £1.34 for unleaded.

 

We have not bought any red for the boat for a while so don't know if that has dropped yet locally.

Unleaded now £1.12 at our local ASDA.

 

I am wondering if we will see it at under a quid again.

[churchward]

Comparing road fuel prices in different countries is bery complex as each has a different tax/duty regime - just look at US prices!

 

BTW, I though that you still had to pay duty on jhome made bio diesel?

Yup. Oh to be in Venezuela where it is about 8p a litre!

Unleaded now £1.12 at our local ASDA.

 

I am wondering if we will see it at under a quid again.

We live in hope.

 

I just ordered some heating oil from our oil club and it was 37p per litre.

[Machpoint005]

Yup. Oh to be in Venezuela where it is about 8p a litre!

 

Oh to be in Venezuela when the country goes bust and it all goes to ratchet?

[churchward]

 

Oh to be in Venezuela when the country goes bust and it all goes to ratchet?

Yep maybe. But you will be able to afford a load of fuel to get out!

[carlt]

Well, there's my new word for today: "neocon". It is apparently an abbreviation for "neoconservative", which I assume (though the Wikipaedia entry woffles on without offering a straight definition so I gave up reading it partway through) to be a modern right-wing political movement.

Yes the neo-conservatives prove that there is something even more horrible than neo-liberalism.