How high is fuel going to get...

[Stulc]

Again....before another strike, if there is one, as everyone will notice it's creeping up to £1 ltr if not allready in some parts, I know where I am it's allready £1 for diesel.

 

[beezer60]

Again....before another strike, if there is one, as everyone will notice it's creeping up to £1 ltr if not allready in some parts, I know where I am it's allready £1 for diesel.

In nominal terms there's probably scope for further price rises. Demand continues to grow, particularly from China, and at the same time most oil-producing countries are operating at full capacity. Also on the supply side, there have been no big oil finds for decades and instability in the Middle East doesn't help either.

But adjusted for price inflation, we have seen petrol prices well over 90p/litre many times in recent decades - in 2000, 1986, 1981 and 1974. Since 1974 average incomes have risen rather faster than inflation and cars are more fuel efficient. Believe it or not your weekly fuel spend is still lower than at almost any time in the last 35 years. Hope that cheers you up a bit!

 

[Stulc]

Believe it or not your weekly fuel spend is still lower than at almost any time in the last 35 years. Hope that cheers you up a bit!

Now that I find very hard to believe as in 75'/6' it was about 50p a gal....I vaguely remember my dad queing up for it around this time. I did start buy it till 80' when I got my 1st bike and then it was (I think) about 80-90p a gal.

 

[television]

Its nice to be spending it on the MB though, think of all those other folk putting this expensive stuff into lesser cars.

Malcolm

 

[jibcl500]

Malc

You snobby get!!!! I filled my CL 2 days ago, the red light was very ON and had been for several days, £97 later, its full and ready for anotehr 280 miles.

jib

 

[television]

Malc

You snobby get!!!! I filled my CL 2 days ago, the red light was very ON and had been for several days, £97 later, its full and ready for anotehr 280 miles.

jib

I did have tongue in cheek when I posted that, there again if I change my 320 for a 500 , you have given me an insight to what I might expect to get, or spend. My V70R only gives 225 for 60 liters. I would rather spend it in the MB, but the weather has gone pear shaped now for a bit.:cry:

Malcolm

 

[beezer60]

Now that I find very hard to believe as in 75'/6' it was about 50p a gal....I vaguely remember my dad queing up for it around this time. I did start buy it till 80' when I got my 1st bike and then it was (I think) about 80-90p a gal.

If you compare inflation-adjusted prices now with those in the mid 70s then, yes, petrol has - for the first time since the the mid 70s - become more expensive.

However, average incomes have risen faster than inflation over this period. For that reason you (well perhaps not you or me personally, but in the UK overall) are paying less in overall fuel costs than did previous generations.

 

[television]

Now that I find very hard to believe as in 75'/6' it was about 50p a gal....I vaguely remember my dad queing up for it around this time. I did start buy it till 80' when I got my 1st bike and then it was (I think) about 80-90p a gal.

When I first started driving, it was under a £1 for 4 gallons, no self service in those days. normally left a tip, that was dependent on how low cut the pump attendant's blouse was.

malcolm

 

[SLinKyjoe]

aviation fuel, 15p a litre, works in deisels.

what i dont understand here is, why doesnt the government put a cap on the price. what i mean is, as the fuel price fluctuates, the amount taken in tax fluctuates but the retail price stays the same. obvioulsy this can be renewed every so often. but at least we would have fuel price stability for a while. and of course, whe the fuel price drops, he could leave it set so he increases tax revenues.

so this works in favour of us at high fuel price times and in favour of the government at low fuel prices. everybody will at least get something from it.

 

[Stulc]

what i dont understand here is, why doesnt the government put a cap on the price. what i mean is, as the fuel price fluctuates, the amount taken in tax fluctuates but the retail price stays the same. obvioulsy this can be renewed every so often. but at least we would have fuel price stability for a while. and of course, whe the fuel price drops, he could leave it set so he increases tax revenues.

so this works in favour of us at high fuel price times and in favour of the government at low fuel prices. everybody will at least get something from it.

Why dont they then, there must be a reason there not.......oh I forgot, it's to rip us off...as per...:evil:




Oh and malc.....

I know you say you'd rather put the "liquid gold" in you MB than a car of "leeser quality" (lol)....but being brutally honest it's really pi55in' me off putting it in the Merc and getting 25ish to the gal or taking the Astra and getting nearlly 40...

I know the Merc's a totaly diffirent drive altogether but the more fuel's going up the more the Astra's getting used. or I'll use the bike which get's roughly the same as the Astra.

 

[madf]

I expect oil to peak around $120 per barrel - temporarily. So £1.50 per litre...

 

[Myros]

I'm the exact opposite

As fuel prices soar, I'm using the SL more, just in case this is the last chance I get. I can't complain either at 24-ish to the gallon from a 5 litre engine. Any more economical and it would be producing petrol instead of burning it.

 

[jberks]

In nominal terms there's probably scope for further price rises. Demand continues to grow, particularly from China, and at the same time most oil-producing countries are operating at full capacity. Also on the supply side, there have been no big oil finds for decades and instability in the Middle East doesn't help either.

Actually, Venezuela and Canada have vast reserves. (and that's ignoring Russia). The only problem was that it was too expensive to extract, but when prices rose to $50 per barrel it finally became profitable. Allegedly, Venezuela alone has more than Saudi ever had and given the worldwide push for green power, demand should peak within the next 25 years as wave, solar and wind usage become efficient, and hopefully start to fall after that. By then we should all be trundling around in hydrogen fuel cell motors so won't care!
Maybe I'm a naive optomist!

 

[AdrianDW]

Ah yes, but the man who runs Venezuela doesn't like George Dubblya - but who does? (I have a mental picture of Rumsfeld spinning globe to show him where it is and telling GW yes a B2 bomber can get there and back without refuelling...).

For the record my bet is the £1+ litre is going to be the norm until some capacity appears (so never, OPEC and the big production / refining companies have no interest in dropping the price). Makes you think though - I had a C220D as a courtesy car for a fortnight, 1000 miles @ 38.5mpg o/a; compared with the E240 at 25 (if I'm careful)... trade in time maybe. Frankly I'd put up with a lesser beast if it'll save me a £100 a month!

 

[jberks]

No need to put up with a lesser beast. I went from an E240 to an E270cdi. Saving me £35 per week and its faster too! Ok not quite as refined but hey.
Drove an E220cdi and to be fair, its not really any different to an E240. Makes a lot of sense for us 500+ miles per week boys.

 

[psmart]

The price will go up to what the market can sustain, they keep on pushing it up, until complaints are heard, see if the markets affected or pressure groups complain, if not, push it up again. When Europe enters steep recession, it will go down, not before (for any sustained period).

I remember Germany, 1995, 1Dm (33p) a litre for petrol (I could afford to run my Cosworth at sub 15mpg), or Austria, only 2 years ago, in Kitzbühel at 71c Diesel per litre. Germany is now EUR1,30 (petrol), EUR1,15 (Diesel), Austria EUR1,08 (Diesel).

No one is complaining, where it hurts Fatman Brown and his cohorts, so expect ever increasing prices. Price stability is not in the market or government interest, a lot of money is wagered on Fuel Futures.

 

[Stulc]

I understand what all say.....but why do oil companie's have to "rub our face's in it" by publishing reports about making billion's NOT million's each year, it's just not right.

I mean from what I know the government rake's in 70% (I think) in tax (more/less 70p) now that might about 10-15p for the o/companie's, so question too is...just what the hell are the government making...the mind boggle's...

 

[Blobcat]

I understand what all say.....but why do oil companie's have to "rub our face's in it" by publishing reports about making billion's NOT million's each year, it's just not right.

I mean from what I know the government rake's in 70% (I think) in tax (more/less 70p) now that might about 10-15p for the o/companie's, so question too is...just what the hell are the government making...the mind boggle's...

The fuel companies approx 25% includes the extraction, shipping, refining & storage. The 5% for the retailer includes the transport and service station costs. The Governments 70% has no costs associated with it...

However I mind less about what the government are making and more on how much they are wasting. Then needing more money off the motorist.

 

[littlebrooklyn]

Its nice to be spending it on the MB though, think of all those other folk putting this expensive stuff into lesser cars.

Malcolm

Yeah tell me about it :?

 

[SLinKyjoe]

Yeah tell me about it :?

at least it adds value to your car when you fill it up!