Is it me? or has anyone else noticed that petrol is now about 1.13/14 a litre?

Is this not the same as the highest prices we had just prior to the recession back in 2008 when oil hit a record of $140 a barrel?

However, oil is only $80 a barrel at the moment, so what gives? I know we have had a 2p tax increase but it just doesn't seem to add up? What's going on?

I'm sure the cost of petrol/diesel is what pushed us into recession last time and now, just as we are almost out of recession with a wonderful growth figure of 0.3% we find that fuel costs are back where they were before. Do I prepare myself for another dip into recession or am I just worrying for nothing?

Av price round here is £1.13 a litre although Asda and Morrisons are still around £1.10. Guessed this would happen which is one of the main reasons I got a Prius.

Greedy oil companies leeching Rip Off Britain?

[quote name='posing' post='980710' date='Mar 5 2010, 12:10 PM']Greedy oil companies leeching Rip Off Britain?[/quote]


Oil is traded in US dollars - the pound is taking a pounding and is only around 1:50 US $ at the moment.

The only way is up as well. Tax goes up another 2p a litre on the 1st April and the pound could slide further - especially if we get a Financial Crisis. Be glad we have such fuel efficient cars.

[quote name='wooski' post='980714' date='Mar 5 2010, 11:30 AM'][quote name='posing' post='980710' date='Mar 5 2010, 12:10 PM']Greedy oil companies leeching Rip Off Britain?[/quote]


Oil is traded in US dollars - the pound is taking a pounding and is only around 1:50 US $ at the moment.

The only way is up as well. Tax goes up another 2p a litre on the 1st April and the pound could slide further - especially if we get a Financial Crisis. Be glad we have such fuel efficient cars.
[/quote]

So because the country's in a pickle and our exchange rate is all to pot with the US$ we pay more for fuel? So when the price of oil does start to rise heavily come the summer driving season in the States we're really going to feel it? Then to add insult to injury the government add more tax to give to the millions of ne're do wells who seem to be living a much better life style than I do. Why do I actually bother working?

[quote name='posing' post='980710' date='Mar 5 2010, 11:10 AM']Greedy oil companies leeching Rip Off Britain?[/quote]

Yes, refining margins are that good that oil companies are shutdown refineries or selling then off across Britain, Europe, North America and Japan, just for the fun of it.

I don't know if you noticed but Total have had a little problem in France recently. They wanted to shut one small refinery (at Dunkirk) and the only way they could come to deal with the french unions was to promise not the close anymore french refineries (for five years)....at the cost of Lindsey here in the UK!

[url="http://www.forexyard.com/en/news/ANALYSIS-Europes-refineries-cheaper-buyers-want-the-best-2010-03-02T135119Z"]Link here.[/url]

[url="http://www.reuters.com/article/idUSLDE6181DK20100209"]Link here.[/url]

[url="http://www.reuters.com/article/idUSREFINERY20100224?loomia_ow=t0:s0:a49:g43:r1:c1.000000:b30376844:z0"]Link here.[/url]

Think long and hard about that when the majority of Europe's petrol and diesel has to be shipped in from the middle east, produced by state owned companys like the Saudi's Aramco.

They will have us well and truely by the short and curls then

[quote name='wooski' post='980714' date='Mar 5 2010, 11:30 AM']Oil is traded in US dollars - the pound is taking a pounding and is only around 1:50 US $ at the moment.[/quote]

The money markets don't like the idea of an hung parliament, especially while we are trying to get out of a recession and so far the polls stay no one party will win enough seats for a majority. So the boys in sharp suits are selling the pound.

And your holiday Euro isn't going to buy a lot this year either

& it's about to get worse - duty goes up again on the 1st of April ...

[quote name='Heidfirst' post='980820' date='Mar 5 2010, 06:02 PM']& it's about to get worse - duty goes up again on the 1st of April ...[/quote]

£1:14.9 at my local place tonight - horrendous.

I am soo glad I got the Prius now. I dread to think what I would be paying if I had a 'normal' car. 35-40k miles a year round town. I don't think I could ever go back from the Prius now.

I fear the fuel prices will send us back into recession.

[quote name='Grumpy Cabbie' post='980747' date='Mar 5 2010, 02:13 PM']Why do I actually bother working? [/quote]

And you wouldn't believe the number of times a day I think that to myself also..... only to make matters worse when I see what the money collected is "spent" on.

[quote name='posing' post='980710' date='Mar 5 2010, 11:10 AM']Greedy oil companies leeching Rip Off Britain?[/quote]
Unleaded price in Cambridge is 114.9.

Of this, as far as I can work out, the oil company gets 41.6 for the extraction, refining transport and sale. The Government takes 73.3 in fuel duty and tax.

The oil companies are subject to real competition. No one competes with the Government!

So who is ripping us off?

Petrol goes up so does the cost of everything that has to be transported ie food etc. all this is leads to inflation. The government seem to disregard the additional costs a rise in fuel prices have. I spoke to an American busineess man about this he stated that in the states the people would not put up with the price of fuel we have to pay. Thank goodness we have a Prius.

Saw diesel at 119.9 today !!!

Oh my, the end is near

Both petrol and diesel 112.9p at local Tesco this morning.

115.9 per litre at the local garage today (Sunday 7th) and a queue to get it.

I can recommend the [url="http://www.petrolprices.com/"]Petrol Prices[/url] website for looking at local prices.

However as I rarely put more than 35 litres of fuel into my Prius at any one time I can never be bothered to travel around for a few pence difference in price.

Another side note - because of the fall in the Pound versus the Euro we now have average petrol prices in the EU.

[quote name='wooski' post='981317' date='Mar 7 2010, 11:43 AM']Another side note - because of the fall in the Pound versus the Euro we now have average petrol prices in the EU.[/quote]

I feel sure that this will soon be corrected and we will be back to our rightful position of most heavily taxed motorists in Europe.

[quote name='Ancient Nerd' post='981361' date='Mar 7 2010, 02:59 PM'][quote name='wooski' post='981317' date='Mar 7 2010, 11:43 AM']Another side note - because of the fall in the Pound versus the Euro we now have average petrol prices in the EU.[/quote]

I feel sure that this will soon be corrected and we will be back to our rightful position of most heavily taxed motorists in Europe.
[/quote]

Heavily taxed motorists? You should just have left it as the most heavily taxed!

Well, it's good to know our tax money is spent so wisely and on such worthwhile causes, otherwise I'm sure people would be very angry indeed.

[quote name='Grumpy Cabbie' post='981394' date='Mar 7 2010, 04:47 PM']Well, it's good to know our tax money is spent so wisely and on such worthwhile causes, otherwise I'm sure people would be very angry indeed.[/quote]
And there was I thinking it was all being wasted on PC non-jobs, unnecessary quangos, overpaid public service managers and all the pensions that go with those. And the ID cards system. And the NHS computer system. And road charging. And ...

But you are correct, this is probably wise use of our tax money, so I shall be very unwise when I vote for whoever is most likely to beat our current Government's candidate at the coming election. Unfortunately, it will probably make no difference whatsoever.

Much of this and I shall become a[s]n ancient[/s] grumpy cynic!

Its not all the Goverments fault, the so called free market economy is to blame as well.

Heard on the news that speculators are buying oil and then mooring the Tankers off the south coast to wait for the price to go up. Create a shortage, higher prices, make a fortune. Who pays for their millions of income, we do.

[quote name='Passedit' post='981639' date='Mar 8 2010, 07:50 AM']Its not all the Goverments fault, the so called free market economy is to blame as well.

Heard on the news that speculators are buying oil and then mooring the Tankers off the south coast to wait for the price to go up. Create a shortage, higher prices, make a fortune. Who pays for their millions of income, we do.[/quote]
Sometimes it goes wrong, prices drop and the speculators get burnt

Unfortunately, they've speculated with borrowed money, so the banks lose money, and our taxes bail them out

Heads they win, tails we lose.

But never lose sight of the fact that taxes are nearly double big oil's take.

[quote name='Ancient Nerd' post='981644' date='Mar 8 2010, 08:04 AM']But never lose sight of the fact that taxes are nearly double big oil's take.[/quote]


Exactly! Easy to blame everyone else but tax makes up two thirds the price. Nothing else out there is taxed to death like fuel. I agree we need some tax on it, but hey isn't that what VAT was for? Then I suppose we need to look after the roads that cars use, but hey isn't that what the road tax is for? Maybe it's an environmental tax but if all the money was ring fenced for environmental projects then I'd be happy, but it isn't and I'm not happy either.

Grumpy Cabbie is in a grumpy mood today - despite the sun shining.

[quote name='Grumpy Cabbie' post='981680' date='Mar 8 2010, 12:24 PM'][quote name='Ancient Nerd' post='981644' date='Mar 8 2010, 08:04 AM']But never lose sight of the fact that taxes are nearly double big oil's take.[/quote]


Exactly! Easy to blame everyone else but tax makes up two thirds the price. Nothing else out there is taxed to death like fuel. I agree we need some tax on it, but hey isn't that what VAT was for? Then I suppose we need to look after the roads that cars use, but hey isn't that what the road tax is for? Maybe it's an environmental tax but if all the money was ring fenced for environmental projects then I'd be happy, but it isn't and I'm not happy either.

Grumpy Cabbie is in a grumpy mood today - despite the sun shining.
[/quote]
I'm mostly with you. Every time a politician talks about a directed tax that will be ring fenced, I just think of the Road Fund Licence. And they wonder why we don't believe a word they say.

I can't agree with you on the environmental tax. It's just an excuse to increase general taxation. I think a recent report tried to evaluate the real environmental cost of motoring. The conclusion was that we are paying way too much for that already, just in recent increases. In any case the 'science' behind the global warming scenario is so dubious, it is valueless as a justification. However, as a bandwagon for increasing indirect taxes...

How about everybody not buying fuel for a week, that may make the Government change its mind about fuel tax; or would they raise taxes even further to cover the shortfall ????

Interesting thought.

[quote name='QS73' post='981700' date='Mar 8 2010, 02:27 PM']How about everybody not buying fuel for a week, that may make the Government change its mind about fuel tax; or would they raise taxes even further to cover the shortfall ????

Interesting thought.[/quote]

Fantasy

I just filled up, £1.19 a litre, although the reciept said £1.199 which to me is £1.20 a L

Ho Hum.

spoke too soon about Asda and Morrisons being 110.9 - they went up to 112.9 over the weekend. As Yazz would say, the only way is up.

[quote name='QS73' post='981700' date='Mar 8 2010, 01:27 PM']How about everybody not buying fuel for a week, that may make the Government change its mind about fuel tax; or would they raise taxes even further to cover the shortfall ????

Interesting thought.[/quote]


lol if only.

That's why they continue to pound motorists - they know we're stuck. You have got to use a car. Maybe some people can use the bus but remember - what do buses run on? Also, what does the Post Office van run on, the delivery truck, the builders van, the taxi driver? Trouble with tax on fuel is that it is extremely inflationary. I know I can only speak for myself but fuel has gone up 20% or more in the last 12 months, yet my taxi fares (yes I know you can all laugh they're too expensive already) were frozen last year and fuel counts for a good 20-25% of my earnings. So in effect this last year I've taken a massive pay cut and all the negative effects this has on the local economy. However, if I increase my fares by 20% I'd go bust as people can't afford things at the moment. Yes the Prius has helped and God knows how my colleagues are managing to keep their heads above water at the moment running normal cabs.

So what am I saying? Pretty much fuel tax is a short term measure and only sticks up costs further down the line. There are two subjects I really try not to discuss in my cab - politics and religion, as people have their own hard and fast views but lately I think this country is really going the wrong way and I fear we are no where near out of the recession. In fact I think, from my personal experiences, that we are slipping back into it again.

I hope tomorrow I'll be in a happy cabbie mood.

[quote name='Grumpy Cabbie' post='981767' date='Mar 8 2010, 05:40 PM']In fact I think, from my personal experiences, that we are slipping back into it again. [/quote]

My view and experience we're at the cusp of a big shakeup. If inflation rises, fuel costs or not, the BOE has as it's only tool, interest rates to counter it. So if we're not careful we'll see a big surge in inflation, followed by rapidly climbing interest rates. The 7% we saw pre-crisis, could well be small fry compared to where it ends up (15%?). It's all happened before. History repeats.

And as you can imagine, that'll create more problems (variable rate mortgage anyone?).

In short the people managing us out of the crisis have a very narrow tightrope to walk... too far one way and we'll crash again, too far the other and everything will spiral as above.

[quote name='phil4' post='981812' date='Mar 8 2010, 07:29 PM'][quote name='Grumpy Cabbie' post='981767' date='Mar 8 2010, 05:40 PM']In fact I think, from my personal experiences, that we are slipping back into it again. [/quote]

My view and experience we're at the cusp of a big shakeup. If inflation rises, fuel costs or not, the BOE has as it's only tool, interest rates to counter it. So if we're not careful we'll see a big surge in inflation, followed by rapidly climbing interest rates. The 7% we saw pre-crisis, could well be small fry compared to where it ends up (15%?). It's all happened before. History repeats.

And as you can imagine, that'll create more problems (variable rate mortgage anyone?).

In short the people managing us out of the crisis have a very narrow tightrope to walk... too far one way and we'll crash again, too far the other and everything will spiral as above.
[/quote]

Australia anyone?

[quote name='johalareewi' date='08 March 2010 - 02:33 PM' timestamp='1268058822' post='981722']
spoke too soon about Asda and Morrisons being 110.9 - they went up to 112.9 over the weekend. As Yazz would say, the only way is up.
[/quote]
Blimey. Gone up another 1p to 113.9 already and it's only Wednesday.

Other garages in the area are 116.9

[quote name='Grumpy Cabbie' date='06 March 2010 - 06:53 PM' timestamp='1267901597' post='981165']
Saw diesel at 119.9 today !!!

Oh my, the end is near
[/quote]


He must have realised he was taking the p*** as he reduced it to 117.9 a couple days later BUT increased petrol to 117.9 also!!! I would rather pee in my tank than ever use that profiteerer!

[quote name='Grumpy Cabbie' date='05 March 2010 - 08:15 PM' timestamp='1267820112' post='980865']
I am soo glad I got the Prius now. I dread to think what I would be paying if I had a 'normal' car. 35-40k miles a year round town. I don't think I could ever go back from the Prius now.

I fear the fuel prices will send us back into recession.
[/quote]
Thank your lucky stars you don't have to drive a london black cab , my cab returns around 20 to the gallon , and the rising cost of fuel impacts directly on my overall income , at the moment i'm shelling more and more out with a lot less coming in due to the ongoing recession , oh and the American driving season has'nt even started yet , an event that traditionally forces up the price of a barrel of oil due to increased demand , its all good ... NOT

[quote name='balli hi' date='12 March 2010 - 11:01 AM' timestamp='1268391690' post='982996']
[quote name='Grumpy Cabbie' date='05 March 2010 - 08:15 PM' timestamp='1267820112' post='980865']
I am soo glad I got the Prius now. I dread to think what I would be paying if I had a 'normal' car. 35-40k miles a year round town. I don't think I could ever go back from the Prius now.

I fear the fuel prices will send us back into recession.
[/quote]
Thank your lucky stars you don't have to drive a london black cab , my cab returns around 20 to the gallon , and the rising cost of fuel impacts directly on my overall income , at the moment i'm shelling more and more out with a lot less coming in due to the ongoing recession , oh and the American driving season has'nt even started yet , an event that traditionally forces up the price of a barrel of oil due to increased demand , its all good ... NOT
[/quote]


Mate, I did! I last drove a London cab back in about 2003/4. It was a TXII with the old Nissan engine I believe. It was replaced with a new one with the Ford Transit duramax piece of junk. That was the last time I drove a London cab and it would be a day too soon if I ever have to drive one again. I know the tourists love them and the turning circle is great, but they were terrible in pretty much every respect including fuel economy.

Luckily my local council don't restrict to just London taxis like some areas do and we have a variety of Merc & Peugeot big cabs along with certain larger 'normal' cars such as Passats, Mondeos and now the Prius

I see you're in Essex so guess you're a proper London cabbie and don't have much choice in the matter. Have you considered the new Merc that's just been licenced for London? Or what about an LPG conversion? Maybe use that as a marketing ploy? Clean up your cab and offset your carbon and get some repeat customers. I'm looking at offsetting my carbon as some of the larger companies are now interested in a cab that is carbon neutral so go with their corporate requirements.

But I do feel for you. I remember the dark days of 2008 in an VW Eurocab automatic, when I was paying £30 for 100 miles/£100 of business. Now I'm down to £10/£11 for the same in the Prius.

Hi , yes i have considered the new merc but sadly i won't be buying one anytime soon , trade is appalling at the moment and i feel for those guys that are traveling about in their shiny new mercs and TX4s carrying in the most part nothing but fresh air as opposed to bums on seats , the last time i checked the merc cost £35,000 and the TX4 started at around £31.000 , i bet drivers are barely meeting their repayments let alone pay their mortgage if they have one .
Yes i'm a london cabbie ( green badge ) so had no choice in the vehicle i drove , that is untill the merc came on the scene , drivers are reporting that the merc is returning on average around 28 mpg , still not great but better than the TX4 , push may come to shove in the form of the london Mayor otherwise known as borris johnson he is proposing that all cabs of 10 years and over be scrapped in favour of newer more environmentally friendly cabs , if that happens any time soon i'll probably rent .
Fingers crossed we start to see a recovery in the economy soon , the government constantly pushing up petrol prices though won't help any recovery , still why should those sniveling rats care , whenever they need more money they simply just vote themselves a pay rise

Read in the news recently that one council had agreed to license 2 seater taxis.
Can't find the article now though.

edit:
here it is...
http://news.bbc.co.uk/2/hi/uk_news/wales/south_west/8534138.stm

[quote name='johalareewi' date='15 March 2010 - 09:35 AM' timestamp='1268645755' post='983947']
Read in the news recently that one council had agreed to license 2 seater taxis.
Can't find the article now though.

edit:
here it is...
http://news.bbc.co.uk/2/hi/uk_news/wales/south_west/8534138.stm
[/quote]

Interesting. The vehicle looks no better than a Prius from the point of view of emissions and consumption, but with much lower capital cost. I looked at small diesels for myself, but was frightened off by the stories of problems with particulate filters in vehicles used mainly for urban journeys. I wonder what taxi firms are finding?

Why is petrol from Saisbury's and Morrisons in North Wales 111.9 and 112.9 per litre and here in the Home Couunties at Tesco etc 116.9 I even saw a BP gararage 121.9. Why this big discrepency?

You go to work, you pay tax on your salary
You buy a car, you pay tax on the price
You use a car, you pay road tax
You insure a car, you pay tax on the premium
You put fuel in the car, you pay tax on the fuel
You get the car serviced, you pay tax on the price
You buy parts for the car (e.g. tyres), you pay tax on the parts

There are very few things you can do these days and not pay some form of tax, but in some cases you pay tax many times just to do one thing.

[quote name='hertsnminds' date='16 March 2010 - 08:52 AM' timestamp='1268729540' post='984385']
You use a car, you pay road tax
[/quote]
Not if you have a gen3

[quote name='johalareewi' date='15 March 2010 - 09:35 AM' timestamp='1268645755' post='983947']
Read in the news recently that one council had agreed to license 2 seater taxis.
Can't find the article now though.

edit:
here it is...
http://news.bbc.co.uk/2/hi/uk_news/wales/south_west/8534138.stm
[/quote]


2 passenger taxi? it's hardly worth bothering with! Why not buy a Prius? With the actual savings I make in fuel economy (based on Nov 09 figures) the Prius almost pays for itself in monthly savings! With fuel as it is now it would probably pay for itself totally.

If only they'd asked me rather than buy a Citroen! Crikey he'll spend more time at the dealers than on the road (IMHO).

[quote name='Chris Dance' date='15 March 2010 - 02:33 PM' timestamp='1268663598' post='984045']
Why is petrol from Saisbury's and Morrisons in North Wales 111.9 and 112.9 per litre and here in the Home Couunties at Tesco etc 116.9 I even saw a BP gararage 121.9. Why this big discrepency?
[/quote]


It seems to be going up drastically when they refill their tanks at the garage. There was one garage here selling at 111.9 for petrol until yesterday when they ran out and restocked at 114.9.

I fear this is just the start

[quote name='Grumpy Cabbie' date='16 March 2010 - 12:03 PM' timestamp='1268741032' post='984476']
[quote name='Chris Dance' date='15 March 2010 - 02:33 PM' timestamp='1268663598' post='984045']
Why is petrol from Saisbury's and Morrisons in North Wales 111.9 and 112.9 per litre and here in the Home Couunties at Tesco etc 116.9 I even saw a BP gararage 121.9. Why this big discrepency?
[/quote]


It seems to be going up drastically when they refill their tanks at the garage. There was one garage here selling at 111.9 for petrol until yesterday when they ran out and restocked at 114.9.

I fear this is just the start
[/quote]


AA reckon it will be over 120p easily by the beginning of April.
Will be interesting to see how it's handled in the Budget.
I'm very glad I drive a car that typically gets over 50mpg!

[quote name='wooski' date='16 March 2010 - 02:32 PM' timestamp='1268749942' post='984529']
AA reckon it will be over 120p easily by the beginning of April.
Will be interesting to see how it's handled in the Budget.
I'm very glad I drive a car that typically gets over 50mpg!
[/quote]

If I remember correctly, 3p per litre is due to be added to fuel prices at the beginning of April.

I don't think he has room on March the 24th to stop or cut that increase, especially since he is coming under pressure from the EU and world credit rating organisations to cut a massive debt.

Expect the worst and you'll never be disappointed.

Everyday this week when I pass a petrol station the price has gone up. Today its £1.18 a litre for unleaded.

On April 1st there is an additional 3p price increase (and that’s not an April Fools joke )

Motorists are being legally mugged at the forecourt by petrol companies

[quote name='reece' date='16 March 2010 - 08:45 PM' timestamp='1268772316' post='984649']
Motorists are being legally mugged at the forecourt by petrol companies
[/quote]

It's not the petrol companies, it's the government that's doing the mugging.

[quote name='reece' date='16 March 2010 - 08:45 PM' timestamp='1268772316' post='984649']
Everyday this week when I pass a petrol station the price has gone up. Today its £1.18 a litre for unleaded.

On April 1st there is an additional 3p price increase (and that’s not an April Fools joke )

Motorists are being legally mugged at the forecourt by petrol companies
[/quote]


It's not the petrol companies. Check out exactly how much of the £1.18 goes to them and how much goes to the tax man in both fuel tax AND VAT. Also, the cost is increasing at the moment as oil is traded in US$ and our UK£ is now so worthless against the US$, due to all the extra money Brown & Co have printed.

God help us if oil reaches $147 a barrel like it did back in 2008. We'll probably be paying just short of £2.00 a litre!! Then watch from a distance as our economy completely collapses. You'd then think the recession we just had was a stroll in the park!

[quote name='johalareewi' date='17 March 2010 - 07:46 AM' timestamp='1268811990' post='984814']
[quote name='reece' date='16 March 2010 - 08:45 PM' timestamp='1268772316' post='984649']
Motorists are being legally mugged at the forecourt by petrol companies
[/quote]

It's not the petrol companies, it's the government that's doing the mugging.
[/quote]
I couldn't agree more. The tax on petrol is something like 175%, and going up again very soon.

You have a chance to express your opinion soon. Vote for anyone but Gordon.

[quote name='Ancient Nerd' date='17 March 2010 - 09:12 PM' timestamp='1268860378' post='985107']
[quote name='johalareewi' date='17 March 2010 - 07:46 AM' timestamp='1268811990' post='984814']
[quote name='reece' date='16 March 2010 - 08:45 PM' timestamp='1268772316' post='984649']
Motorists are being legally mugged at the forecourt by petrol companies
[/quote]

It's not the petrol companies, it's the government that's doing the mugging.
[/quote]
I couldn't agree more. The tax on petrol is something like 175%, and going up again very soon.

You have a chance to express your opinion soon. Vote for anyone but Gordon.
[/quote]

This topic is precisely why I brought my second gen Prius a couple of weeks ago. I had to travel to the other side of the country to get it and noted that prices in South Wales and the South Midlands were 5p or more higher than in South Lincolnshire. IF there is an increase in VAT after the election then we could be well over 130p a litre by the end of June. The only consolation is that when comparing the mpg of a Prius with that of my old car, it would need to be getting on for 160p - 170p litre before I would find my petrol outgoings will be what they were . No government would allow that to happen until the number of reliable alternative fuel and hybrid vehicles available on the new and used markets have significantly increased.