Petrol Prices

thomasross20

They're going back up where I am but the price of crude hasn't been going up (?) - gah!

ICBM

thomasross20 said:

They're going back up where I am but the price of crude hasn't been going up (?)

It has.

http://news.bbcimg.co.uk/media/images/81371000/gif/_81371216_oil_vs_petrol_624.gif

If anything petrol has gone up by less than the price of crude in the last couple of weeks - although it also fell by less before that. At least the tax does serve as a leveller to some extent.

Bogwhoppit

My local Tesco dropped to 99p around three weeks back, it has since crept up to around £1.13.

 

Every little helps the falling profits of dodgy Tesco.

ESBlonde

Bogwhoppit said:

My local Tesco dropped to 99p around three weeks back, it has since crept up to around £1.13.

 

Every little helps the falling profits of dodgy Tesco.

Tell them to stop making you spend your money there then.

NPP

crude is slightly up, and the pound is down against the dollar

Phil_aka_Pip

NPP said:

crude is slightly up, and the pound is down against the dollar

notice how the pump price always rises immediately, and fast, whereas it falls slowly and after a time delay, given a change in crude price.

thomasross20

I just like a good moan

ICBM

Phil_aka_Pip said:

notice how the pump price always rises immediately, and fast, whereas it falls slowly and after a time delay, given a change in crude price.

Also not true if you look at the graph. There is a similar lag on both - as you would expect, since it's a supply chain and it has to work through - but if anything some of the rises take slightly longer to take effect than some of the falls.

Bogwhoppit

thomasross20 said:

I just like a good moan

We just need a garden fence between us...

 

 

Phil_aka_Pip

ICBM said:

Phil_aka_Pip said:

notice how the pump price always rises immediately, and fast, whereas it falls slowly and after a time delay, given a change in crude price.

Also not true if you look at the graph. There is a similar lag on both - as you would expect, since it's a supply chain and it has to work through - but if anything some of the rises take slightly longer to take effect than some of the falls.

But true if you look at my local petrol pumps.

ICBM

Phil_aka_Pip said:

But true if you look at my local petrol pumps.

But not mine. I was quite pissed off when it fell 4p a litre within two or three days of filling my car up at the higher price earlier this year .

The graph is an average, clearly.

The really odd bit is what happened in mid-2013 to mid-2014, where the price of oil first fell in March-April 2013 and the petrol price barely moved, then oil went up at about the end of June 2013 and roughly stabilised at a higher level, but the price of petrol having initially followed it then fell sharply in September 2013 to *below* where it had been in April-June. Why…..?

And obviously it hasn't come down as far recently as the oil price has, because the tax is now a much larger percentage of the total price - which I honestly don't see as a bad thing, the government needs to raise tax from somewhere and as long as petrol is actually getting cheaper, it doesn't matter that the tax is effectively a bigger percentage.

The other interesting thing is that despite the falling price, demand doesn't seem to have increased - which does actually prove that people aren't that stupid. Now they've got used to driving less and more conservatively, they're pocketing the difference rather than going back to driving like its going out of fashion.

Phil_aka_Pip

ICBM said:

The other interesting thing is that despite the falling price, demand doesn't seem to have increased - which does actually prove that people aren't that stupid. Now they've got used to driving less and more conservatively, they're pocketing the difference rather than going back to driving like its going out of fashion.

I think it's been a long time since people drove cars just for the hell of it. Fuel price is only once consideration. The state of the roads, the volume of other traffic, and piss poor driving standards are others.