Petrol/Diesel prices....WHEN WILL IT STOP!!! - HotUKDeals
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Petrol/Diesel prices....WHEN WILL IT STOP!!!

thearbiter65 Avatar
8y, 6m agoPosted 8 years, 6 months ago
Is this driving anyone else crazy?? Every time I fill up my car, it is more expensive!!

Anyone think they will ever come down? Economists seem to think that Oil will peak at $200 a barrel within a couple of years, making petrol £1.46 a litre. They argue that its because of the extra demand India and China are potting on the oil market. It could also be because some organisations are speculating that the price will rise further and thus buying more now, meaning that demand is increased, and therefore the price.

Still tax makes up 65% of our petrol prices, with the Govt planning on putting an extra 2p a litre on the price soon. They call it a green budget, but I see NO money being pumped into public transport.

What is the solution?? More fuel protests?? I think I would tempted to go along to one if this were to be the case.
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thearbiter65 Avatar
8y, 6m agoPosted 8 years, 6 months ago
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#1
BTW apologies for any spelling, feeling very tired...
#2
Going up again on Tuesday...

Diesel is going up by 2p in at least one station.
#3
i think the only time the prices will stop rising is when fuel runs out
#4
I am going to have to increase my hours at work soon. This is getting silly, with this and gas / electric prices I am starting to look more closely at my finances. I thinkn it is time for some action. I forwarded an email today which is urging people to buoycott Esso and BP. I certainly will be from now on
#5
Prices will level off around juvember
#6
wookiemummy
I am going to have to increase my hours at work soon. This is getting silly, with this and gas / electric prices I am starting to look more closely at my finances. I thinkn it is time for some action. I forwarded an email today which is urging people to buoycott Esso and BP. I certainly will be from now on


I dont think the petrol stations are making that much profit anyway. Its mostly tax. Some supermarkets even make a loss, and just use it as a marketing tool
#7
£1.46 in a few years?! wouldn't be surprised if it was that price by the end of the year the way things are going!
#8
:whistling:Yes it's driving me mad too but i have just been told off so must stop complaining: http://forum.virtualtourist.com/discussion-423004-1-1-Travel-0-248-Scotland-discussion.html#answerID_2920509
#9
Why is diesel 10p or more higher, it used to be 2p?
#10
:x
Deltongo
Why is diesel 10p or more higher, it used to be 2p?

It used to be cheaper when i worked at a garage about 20 years ago. It seems to be about 10 - 12p per litre more axpensive now. Absolutely scandalous
#11
Personally i think 1.46 in a couple of months let alone years and you guys can do something about it ,stop driveing everywhere and encourage others to do the same, falling sales=falling prices
#12
maddogb
Personally i think 1.46 in a couple of months let alone years and you guys can do something about it ,stop driveing everywhere and encourage others to do the same, falling sales=falling prices

That's easier said then done. How do you get to work if you live in a rural area with poor bus service ? In fact how do you get anywhere you need to get to when public transport doesn't allow ? Should'nt be this way . All down to the government.
#13
Deltongo
Why is diesel 10p or more higher, it used to be 2p?


Because more people realised that you can get more MPG from a deisel engine for roughly the same price, so most new buys are for deisel engines and thats why the government is cashing in on it more, nothing to do with shortages or availability compared to petrol.

Funny thing is, newer upto 3 year old petrols are providing the same MPG than most deisels nowadays, virtually nothing in it, definatly not enough to warrent choosing a deisel over petrol for the "better" fuel economy. (only in newer cars though remember, old petrol cars you'll be lucky to get 25 mpg lol)
#14
Its bad for business. My local takeaways has upped their prices :( not good. My local Greggs also upped the prices. Pay more for petrol, pay more for other stuff as well.
#15
darren9030;2177131
:x
It used to be cheaper when i worked at a garage about 20 years ago. It seems to be about 10 - 12p per litre more axpensive now. Absolutely scandalous


i believe (although i might be wrong) is that diesel is now more heavily taxed as the government was trying to persuade people to use unleaded as it caused less pollution.
#16
kk_cheung
i believe (although i might be wrong) is that diesel is now more heavily taxed as the government was trying to persuade people to use unleaded as it caused less pollution.

Yes that rings a bell . Scant consolation for those of us who purchased diesel vehicles prior to knowing about the pollution though.
#17
[url]www.petrolprices.com[/url] :thumbsup:
Hope it helps!!
#18
supply and demand.

Nearly every adult needs it so they will get it regardless.

I have a bus pass which has stayed the same price since August :)
banned#19
I think people should be more worried about the other consequences of peak oil (more being used than is being discovered http://en.wikipedia.org/wiki/Peak_oil ), mainly increasing food prices.

An extra £20-£50 on your weekly petrol will pale into insignificance compared to your food bill doubling or even trebling according to some estimates.

http://www.powerswitch.org.uk/portal/index.php?option=content&task=view&id=563

SOME UK FOOD STATISTICS
UK food supply chain
UK food retailing market was worth £103,800 million in 2001
Food manufacturing is the single-largest manufacturing industry in the UK
Food supply chain employs 12.5% of the entire workforce in the UK
Food supply chain contributes 8% to the UK economy
Food and drink accounts for 21% of weekly household expenditure

Food supply chain and unsustainability
Food supply chain is the largest energy user in the UK
Food production and distribution contributes up to 22% of the UK’s total greenhouse emissions
Food travels further than any other product - 129 km compared to the average product travel of 94 km
Wages in the food industry are notoriously low compared to other sectors
Nearly 30% of household waste is food waste
#20
Oil price will come down to about US$50 -US$70 per barrel here are the reasons as to why http://www.reason.com/news/show/125414.html The current high price is caused by short term burst in speculative demand.

Why do I write this , when price soared above US$50 per barrel, all of a sudden, lots of known reserves previously not profitable to mine when oil price was at US$20-US$30 per barrel became to be profitable. However , oil exploration takes time to bring them to production, so as soon as these come on line e.g. http://en.wikipedia.org/wiki/Athabasca_Oil_Sands

If oil price could be sustained at US$100 or even US$150 over 5 year period, which it would not be but if it did, then even more oil field could become profitable to extract oil from. These huge amounts of oil are at the moment just too expensive to extract oil from.

With soaring cost of living the consumption of manufactured goods around the world would reduce, big exporters of goods like China will use much less energy to make goods for export around the world. Most of their carbon footprint is displaced from countries around the world (= goods which are consumed in UK is not made in UK but made in China --> carbon footprint from the goods in UK is displaced to China ) As consumption falls, these companies will seek more energy efficient ways for manufacturing as a means of cutting energy costs in their production costs.
#21
my daughters buss pass for school has risen from 6 pounds to 8.50 pounds in the last couple of weeks and this used to be cheaper than taking her to school by car each day but now i am beginning to wonder and all buss fares have risen what happens when people can no longer afford to travel to and from work as my brother in law is already thinking of giving up his job as the fuel prices are using all his wages on top of gas electric and food prices not to mention their mortgage rising
#22
Well done to all the protesters yesterday....hope it does some good
#23
Listening to Radio 4 the other day, they were speaking to some "experts" about what is causing the prices to go up, who is benefiting and when/if it is likely to come back down.

They said basically we have reached what is known as "peak oil" which is essentially when we have pretty much harvested all the nice easy to refine oil, next stage of peak oil is when we have used all the dirtier harder to refine oil, finally we will get to the satge where there i no more oil. One experts said we could reach this 3rd stage as early as 2013.

They also said it is not just due to war in the middle east or speculators buying up all the oil, nor is it just down to increasing demand from 3rd world countries, but is a combination of all of these things plus more.

They also pointed out that those who blame government for the high prices shouldn't think again as the more the price goes up per barrel the less the government can take in taxes from it.

I should point out that I am simply repeating what I heard so dont come down on me like a ton of bricks if this isnt 100% right.
#24
@dmmcabe not avin a go m8
but really don't understand that bit bout the taxes, surely that would only work if the pump price was fixed?
I have heard about the other factors obviously and it really brings it home about how limited this planets resources are, tbh i can't see the cost of fuel ever going down again
banned#25
dmccabe;2192368
They also pointed out that those who blame government for the high prices shouldn't think again as the more the price goes up per barrel the less the government can take in taxes from it.

Eh? How does that work then? the government charge a set amount of duty (approx 68p per litre) and then add VAT on top. petrol going up certainly helps the government in higher VAT.

Gordon Clown states there is nothing the government can do but he is lying. They can reduce the fuel duty in line with the increased VAT take thus balancing out the total tax.
#26
even more worrying for me personally as i have a company car is the rise in heating oil
when we bought this house 5yrs ago oil was about £75 for 500ltrs, this is now at about £260 for same amount.
I live in a village where there is no gas so am pretty scuppered
#27
hi guys, cant we set up some sort of petrol diesel price watch on here
banned#28
golfer2007;2270232
hi guys, cant we set up some sort of petrol diesel price watch on here

why? There is already a site for that - petrolprices.com
#29
i reckon oil prices could reach $180 per barrel by the end of this year. demand in winter will be very high...
#30
its all americas fualt really
#31
Well, interesting point.

America use fuel like there is no tomorrow, driving massive cars with massive engines. Fuel is extremely cheap. I reckon if they had half the tax we had on fuel, their government will be out.

Our government is screwing us royal and we just take it. But thats life.

PS, dont think the food prices going up is because of fuel, yes there will be a little on top for it, but whats happened is Tesco etc have jumped on the media hype that the cost of living is going up. Explain this, if food is going up, how come tesco will make alot more profit next year? Not because of clever business, because it wants to make as much money as it can, as quickly as possible. Stamping on the suppliers and manufacturers and crippling the customers.
#32
oh, just for the record, if the government removed 18p on fuel tax, it would cost on average 4 billion pounds a year, and the money will have to come from somewhere else wouldnt it.
banned#33
aircanman
Explain this, if food is going up, how come tesco will make alot more profit next year? .


Do you have a cystal ball?

I don't get why people are saying its all the goverments fault TBH. OK, if the price goes up they make the extra vat on that, but even a 20p per litre rise only gets them 3.5p more than before. So are people saying they would be happy if they only reduced fuel prices by 3.5p?

Also (I'm not vat regged so not sure about this) but wouldn't the vat element the goverment be less than that as the garage will claim back the vat they paid for the fuel in the first place?

for example

if the garage used to pay 95ppl, then they would be charged 16.625p vat on that,
When they sell at 99ppl they would owe the vat man 17.325p of that, but would claim the 16.625p back, leaving a total to pay of 0.7p to pay per litre

If it goes up to 121p per litre and the garage pays say 117ppl, the the figures would be
20.475 claimed back
21.175 owed to vat man
total vat to pay by the garage 0.7p per litre

Giving myself a headache now lol

We aren't the most expensive in Europe either so it could be worse :(
#34
I may not have a crystal ball, but I would put alot of money on them making more money. Come on, for example, utterly butterly, 52p a few weeks ago, last time I did my shop, £1.50. Its never been 1.50. They cant justify these prices. Bread up by 30p. Fuel hasnt done this. News companies like Sky News who butter up the stories cause this. Making everyone panic, so the supermarkets fall in line and charge more, but they will make record money. Exactly the same as the big oil companies. Record profits.

Although VAT and duty go in the same pot, they are not the same. This is how the country makes money from its shops / retailers etc.
banned#35
aircanman
I may not have a crystal ball, but I would put alot of money on them making more money. Come on, for example, utterly butterly, 52p a few weeks ago, last time I did my shop, £1.50. Its never been 1.50. They cant justify these prices. Bread up by 30p. Fuel hasnt done this. News companies like Sky News who butter up the stories cause this. Making everyone panic, so the supermarkets fall in line and charge more, but they will make record money. Exactly the same as the big oil companies. Record profits.

Although VAT and duty go in the same pot, they are not the same. This is how the country makes money from its shops / retailers etc.


Bread and various other food products have gone up so much due to the price of wheat doubling in this past year.

I know VAT and duty aren't the same, but the rate of duty is the same regardless of the price of the petrol isn't it (ignoring the 2p rise soon). If the price of fuel went up to £3 a litre tomorrow the goverment wouldn't get any extra duty would they?
#36
bread and butter was an example. Things have gone up all over the shop.

So basically we have to stick with it, and wait until we cant afford petrol, stop working, all claim unemployment benefits. When the whole country comes to a standstill. Whos fault is it then?
banned#37
yes but wheat prices affects a lot of food prices, more than most people think. Pork for example, I don't think many would expect wheat going up to make pork & bacon rise in price. But as pig food has doubled in price in the last 12 months then it stands to reason so will prices they have to sell them at.

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