Oil Hits New Record

[hawk20]

Oil today has hit $115 dollars per barrel. And BP are forecasting that we shall be paying £1-50p per litre by Christmas.

Round here, we are now at 110.9 for unleaded and 119.9 for diesel. BUT the dearest within a 20 mile radius is 126.9p per litre for diesel. Seriously ouch!

The cheapest in Southampton is 108.9 for unleaded and 117.9 for diesel.

What are the prices in other areas?

Useful website: type in postcode and it shows dearest, cheapest and average prices in your area. Been posted before but may help someone.
http://www.petrolprices.com/

 

[television]

Why do you keep posting this bad new Hawk,, I love your post but well

 

[Blobcat]

Shell in Chelski yesterday £1.14 per litre Diesel
Shell n West Wales (close to the refinery) £1.21 per litre Diesel

How can they explain that?

Still I did 480 miles on just over 1/2 a tank yesterday so I cannot complain too much

 

[grpar]

West London Jet petrol station is the cheapest I've found at 108p for unleaded.

 

[Mr Teddy Bear]

Just risen to 105.9 in Bristol.
what price=riot??:evil:

 

[outsmartsmart]

Diesel in Warwick area averaging around £1.17/litre, dunno about petrol

 

[turnipsock]

Aberfoyle Moters had diesel at £1.25 a few weeks ago, gawd knows what it is now.

I suppose I should really fix that leaky petrol pipe.

 

[hawk20]

Shell in Chelski yesterday £1.14 per litre Diesel
Shell n West Wales (close to the refinery) £1.21 per litre Diesel

How can they explain that?

Still I did 480 miles on just over 1/2 a tank yesterday so I cannot complain too much

Just shows the importance of shopping round. That website I posted saves me loads.

Shell and most majors will give their dealers extra margin if they are near a big supermarket, for example like Tesco or Asda so they can compete. Hence one Shell garage near a supermarket may be much cheaper than another one further away.

Did you hear that wonderful line from a Labour peer today, Lord Desai, who said: -
"Gordon Brown was put on earth to remind us all how good a Prime Minister Tony Blair was."

 

[britnordic]

Thanks for the link, very useful as travel all over England.

 

[nickcc101]

Shell in Chelski yesterday £1.14 per litre Diesel
Shell n West Wales (close to the refinery) £1.21 per litre Diesel

How can they explain that?

Still I did 480 miles on just over 1/2 a tank yesterday so I cannot complain too much

Shell only have one refinery in the UK and thats at Stanlow Ellesmere Port. Fuel supplied in West Wales would have been picked up from other Major oil Companys site on exchange basis as Stanlow only goes as far as North Wales.

 

[Blobcat]

Shell only have one refinery in the UK and thats at Stanlow Ellesmere Port. Fuel supplied in West Wales would have been picked up from other Major oil Companys site on exchange basis as Stanlow only goes as far as North Wales.

I used to quite a bit of work for Texaco & Gulf at Millford, only Murco left there now and the storage depot. My point was that it still comes from there regardless of brand and it should be cheaper all things considered, however it isn't. I go to Swansea for my Shell as it is significantly cheaper than anything local to me.

 

[MarkCL]

My local Shell has (had?) unleaded at £1.04 a litre yesterday but it may have gone up already - seems to go up by a penny a week at least at the moment :evil: I really don't know how they can justify this continued rise in oil prices!! Usually its driven by supply, i.e. less supply, higher cost - but lately I seem to hear the oil companies saying "Oh there's no problem with supply - loads of oil!" yet the price STILL keeps flying up!?! :evil: I shudder to think that I can remember when it was 40p a litre - oh for those days to come again...

Cheers,
Mark

 

[hawk20]

My local Shell has (had?) unleaded at £1.04 a litre yesterday but it may have gone up already - seems to go up by a penny a week at least at the moment :evil: I really don't know how they can justify this continued rise in oil prices!! Usually its driven by supply, i.e. less supply, higher cost - but lately I seem to hear the oil companies saying "Oh there's no problem with supply - loads of oil!" yet the price STILL keeps flying up!?! :evil: I shudder to think that I can remember when it was 40p a litre - oh for those days to come again...

Cheers,
Mark

Believe it or not, there is no more demand than when the price was $75 a barrel, and supply problems are few. The real problem at the moment is there are lots of funds buying commodities because they don't want to hold the dollar while it keeps on falling. This flight to commodities is driving prices sky high, way above what they would be if only those who genuinely wanted the commodities were buying.

The good news is some think this period will pass quite soon and fuel prices will fall back to more sensible levels.

The bad news is that other experts think we have passed the peak of world oil production, and that output will fall from now on. And with China growing at 10% per annum, and more in many years, the price will just go on rising.

Big divide on views at the moment and will be interesting to see how it all pans out in practice.

 

[Ashley H]

Oil Supplies

In theory, of course, the high price should be driving both an accelerated exploration effort and the re-evaluation of previously uneconomic sources.

The Big Question is whether new reserves are there to be found...

 

[hawk20]

In theory, of course, the high price should be driving both an accelerated exploration effort and the re-evaluation of previously uneconomic sources.

The Big Question is whether new reserves are there to be found...

Yes. I'm sure it will. And haven't they recently found a big one off Brazil?

In addition it will prompt car makers to concentrate less on 6.3 litre behemoths and more on better mpg.

 

[bushy30]

Just for you, Banbury is

The Lowest price in this area: 108.9p unleaded, 116.9p diesel

Bushy

 

[st4]

Its very £££ as it is but such a steep price rise in such a short time.

I am suprised there are not riots/protests organised. I for one think its odd that fuel duty isn't being cut back to allow for the oil price rise, the government has a duty to its citizens to keep fuel priced reasonable. It currently isn't fufilling this.

 

[PaulMdx]

I for one think its odd that fuel duty isn't being cut back to allow for the oil price rise, the government has a duty to its citizens to keep fuel priced reasonable.

...in other news Gordon Brown has just keeled over from laughing so hard.

 

[drcarrera]

Stuff petrol prices - it's the heating oil which is doing us in! Over the winter 500 quids worth barely lasted us six weeks! We've lived here for 10 years and in that time the cost of heating oil has gone up by well over six times. It's a nightmare! The fact my car only does 20mpg almost pales into insignificance in comparison.

 

[Jensen]

Filled up yesterday Asda Boldon Tyne & Wear. Diesel 113p per litre but nets down to 111p with my Asda credit card. 2p off a litre at pump.
What did cost me £55 is now £65 to fill up - rip off