What's happening to Diesel/Petrol prices??

[C16RKC]

To my absolute delight, Diesel has been dropping rapidly over the last few weeks, and having stagnated at around £1.70ish for quite a while, it has come all the way down to £1.469 at my last fill. Does anyone know why is has been falling these last few weeks?

But the thing that shocked me even more is that Petrol is £1.449 - just 2 pence cheaper than Diesel! - It was not long ago there was over 20 pence between the two. I wonder what is going on?

Very odd times we live in...

 

[Blobcat]

They were at parity in Sheffield last week, handy as I was in the smart

 

[peterws1957]

In the North West unleaded petrol has dropped to £1.39 ish and seems to be falling about 1p every couple of weeks.

 

[sl500amgsport]

Just filled up petrol at £1.40l in Essex, until the recent profiteering (blamed on war in Ukraine, global warming, Covid, basically anything but the petrochemical giants gluttony) there was always a 2-3p difference between petrol and diesel.

Crude prices are the same but diesel remained high, (you do not need to be a genius to work out why anyone would want diesel to remain high)....

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[SL63 Mark]

Our oil companies are once again under scrutiny by the Competition and Markets Authority in the UK. Oil prices are at a low level across the world, so there is no reason why we are paying over the odds in the UK.

The CMA are looking for evidence of price fixing, all it takes is a leaked email for some corporate jail time. And every time the oil companies come under scrutiny, fuel prices mysteriously start to come down. How weird is that

 

[sl500amgsport]

I have a loyalty card with Shell as I live in a rural village and it is the only garage. Today, a day after I filled up at £1.409 at an Esso garage I was passing I get a £2.40 shell voucher off any quantity of fuel to use by 07/06/23.

Co-incidence or big brother..?

At £1.469l I am in no rush to use it, hopefully their prices will come down too!

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[Alastairp]

Filled up twice in different locations at £1.33 for unleaded.

First was a BP adjacent to a Tesco and the second was at Morrisons.

Diesel still significantly more expensive

 

[Wighty]

Diesel was 136 in Bangor at Texaco a few days ago and 135.9 at a Sainsbury’s in Shrewsbury

 

[sl500amgsport]

Filled up twice in different locations at £1.33 for unleaded.

First was a BP adjacent to a Tesco and the second was at Morrisons.

Diesel still significantly more expensive

Good price where was that?

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[Wighty]

To my absolute delight, Diesel has been dropping rapidly over the last few weeks, and having stagnated at around £1.70ish for quite a while, it has come all the way down to £1.469 at my last fill. Does anyone know why is has been falling these last few weeks?

But the thing that shocked me even more is that Petrol is £1.449 - just 2 pence cheaper than Diesel! - It was not long ago there was over 20 pence between the two. I wonder what is going on?

Very odd times we live in...

The oil barrel price is falling over some global growth uncertainty , but the next time the OPEC cartel meet (in June I think ) they will probably reduce output of oil because they want the barrel price at $80+ .
The high recent diesel price compared to petrol is just blatant profiteering

 

[Frontstep]

Going to Costco Liverpool, later will see.

Russia and the Netherlands for our diesel is a historic problem.


Our barmy Industrial cost basis won't have helped.

It probably ticked a box in the net zero world.

 

[Alastairp]

Good price where was that?

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Kilmarnock, Peoples Republic of East Ayrshire.

 

[sl500amgsport]

Kilmarnock, Peoples Republic of East Ayrshire.

That explains it, part of the Scottish subsidies?

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[C16RKC]

Looking at those figures it's a good sign then; hopefully we shall get back to normality, or what passes for it now.

 

[Wighty]

Looking at those figures it's a good sign then; hopefully we shall get back to normality, or what passes for it now.

Doubt it , but I admire your optimism

 

[Alastairp]

That explains it, part of the Scottish subsidies?

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Not really, we just use our own oil to make it

 

[C16RKC]

Do you think now industry has a taste for using a war to justify price hikes, that they will do it again and again and again now?

It really never did make sense for Diesel to reach £2.00 a litre to me, and I think it's pretty widely believed this was just profiteering. The oil companies made a fortune in 2022.

 

[Wighty]

Do you think now industry has a taste for using a war to justify price hikes, that they will do it again and again and again now?

It really never did make sense for Diesel to reach £2.00 a litre to me, and I think it's pretty widely believed this was just profiteering. The oil companies made a fortune in 2022.

My understanding is that it’s a global market and demand sets the price , The individual oil companies don’t set the price per barrel .
Dont forget that BP and Shell have a 75% tax imposed on them . Nearly half of each Litre at the pump is also Govt tax
When Covid started these oil companies lost tens of billions when the oil price plummeted and they had to walk away from billions of £’s or Russian assets .
Its a complicated business for us mere mortals wondering why it costs so much . My advice is squint so you can’t see what the fuel total is when you fill up

 

[LostKiwi]

Filled up at Costco the other week. It was 135.9 for diesel and 134.9 for normal unleaded.
Our local petrol stations on the other hand are 156.9 for diesel!

 

[C16RKC]

So the Just Stop Oil protestors are to blame then... stopping the tankers and then upping the demand due to shortage!

Yesterday I saw that clip on the news of the Motorist dragging one protestor out of the road and getting cuffed by police. It's sickening they can disrupt everyone's travel for their nutty cause and get away with it; yet an annoyed motorist gets grabbed by police immediately. The world is completely mad.