[davyk31]

Originally Posted by troggy1969

You paid over the odds. Just filled up in Aughnacloy. 129.9 Euro and they give 1.4 again sterling at the garage so I paid 92.8p

Good price but has Aughnacloy moved??

[singh21]

Originally Posted by Andy30D

I just want to note...that at a £1 a litre or there abouts, you are FAR from being ripped off. Think how much work goes into making and having that fuel. Oh and the tax.

The oil market is sh*t at the moment (my dad works in the industry) I actually want oil prices to increase, so things go back to how they were. The strong £1 is helping the cheap fuel comparison in the EU.

Personally if fuel was such a big deal to everyone's wallets we would all cycle to work.

Rant over! Lol Andy

WHaT tHe

[FSE23]

BP station, I can't remember when I saw diesel cheaper than petrol in UK, 115p diesel, 116p petrol and Difference on M6 was shocking diesel 126p, petrol 135p.

[isleaiw]

I also managed to fill up at about 96p a litre - but i did have to cash in my Tesco 20ppl price reduction to get it!

Still something nice about filling up with more litres than pounds spent!

[moonshine]

in my opinion, the oil industry was largely sheltered from the effects banking crisis and recession for a number of years and felt little of the widespread public and private sector cuts and pain . it has only recently begun to feel the pinch that the rest of the country has been going through for the last 6-7 years recently due to global over supply of oil.


I find it hard to have too much sympathy for an industry that happily fiddled as the country burned in the recession,

[Sussex_G20]

Moonshine Of course you are welcome to your opinion and I respect that

I make my living from supporting the oil industry, a minuscule part of the production cost I must say and never going to be rich on the back of it.

In my career there have been many cycles where the consumer has enjoyed wholesale prices at or below the cost to get it out of the ground. What the large IOCs put on top for value added services, I cannot speak for, nor condone at all, but they spend a lot on R & D and exploration to try and keep us with petroleum products, plastics, medical products which in turn help us all have food, clothes and good health. Their profits seem huge but their risk is immense too (look at what BP have had to pay for an accident that was the fault of their subcontractors who the US courts said they were ultimately responsible for. I work in one country where the retail fuel price is set by the government and it is less than the costs of production and refining etc so the oil company has to subsidise from other operations.

A major part of fuel cost is of course taxation which is nothing to do with the oil companies. Of course if that tax is reduced where would we like the extra to be put instead? Easy to say but when you think hard what would we really like to pay more for instead? I suspect it would be a lot more too.

In the last up cycle when we saw higher fuel prices the exploration industry was just starting to explore and develop again from the previous downturn of maybe 5 or so years ago. Now the exploration and development has ground to a halt again so do not be surprised if when the present glut has been consumed (as it will of course as it takes geology thousands of year to produce new oil) that the price swings even higher than before as industry tries to catch up again oh and of course with the actions of those bankers/traders who continuously speculate on prices and getting even greedier. The world is getting caught up in the thoughts of new cheap sources fracking, shale gas etc. Well before getting too carried away, not all that flows from the ground is suitable for motor fuel or needs vast expense to extract useable fuel.

Back to the thread there is a point where fuel costs more to produce than the price the market sentiment will pay and guess what that position cannot last and taps will be turned off by the prudent business men. At that point inflow will be from those willing to sell whatever the price - Russia, Iran and some developing countries as it will be income - perhaps their only income and they choose to balance costs in other ways (free labour, not pay subcontractors, unsafe practices etc).

Like everything in life we always want a good deal or a bargain but somewhere along the line there is a price which is the cost of doing something and going below that hurts, not only business, but indirectly people, families, loved ones, security etc.

[moonshine]

I'm a geologist, who has worked in the mineral exploration industry so I'm well aware of the economics of mining....

I'm also well aware of the huge taxation element of the price of fuel..

[troggy1969]

I worked for Schlumberger in North Africa so know all about it, decided blowing things up and digging holes was more fun so had a career change

[Chompers]

Got equivalent to 90p/ltr south of Dublin last week while on holiday the south seems very cheap for things all of a sudden

[Fishman]

Just paid £1.07 here in Wiltshire!

[Tengocity]

Just filled up for 4.59 Zlotys per litre, which at current exchange rates is 79p!

[John435D]

125.9 for Shell nitro Diesel this morning, makes a nice change from the 1.39 paying a couple of weeks ago