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Oil price slump


j_jza80
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It appears that the price of oil is dropping rapidly

 

http://www.bbc.co.uk/news/business-30247276

 

Yet, the prices at the pumps only seem to be trickling down. Unfortunately, I foresee a greater problem if this trend continues. Due to the reduced revenue the government will be making due to the price slump, I think we'll see an increase in fuel duty come the next budget. :(

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If it makes you feel better I paid 35p a litre whilst travelling in the US a couple of months ago and 9p a litre in Saudi a few months earlier. :D

 

We are being royally milked... and I agree with you, without a doubt the tax will go up... never come down.

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If it makes you feel better I paid 35p a litre whilst travelling in the US a couple of months ago and 9p a litre in Saudi a few months earlier. :D

 

We are being royally milked... and I agree with you, without a doubt the tax will go up... never come down.

 

One of the few benefits we should get as part of the EU is a much reduced fuel price, as per the USA. But I suppose they haven't got fascist environmentalists calling the shots.

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One of the few benefits we should get as part of the EU is a much reduced fuel price, as per the USA. But I suppose they haven't got fascist environmentalists calling the shots.

 

At least we got democracy... No wait, we got a pretend version :D

 

It is becoming stupid the amount we are paying in taxes alone for not a lot of gain.

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If it makes it worse,

 

heating oil is now the lowest its been in 7 years. So i would think petrol should be to

 

I wonder if a diesel car would run on heating oil? just thinking outloud not that id ever do it........no never

 

Thinking aloud and as an excercise in probability , derv cars will run on heating oil , but heating oil is lower SG and has less oil content so some cars would have more difficulty starting ( unless you added cetane booster , like those available on ebay , as a guess a capfull would suffice)

Oil could be added to heating oil , to act as a lubricant for the fuel pump which would have a reduced lifespan as it's fuel lubricated or certain model derv cars have hp pumps driven of the cam ( so engine oil lubricated And don't need the oil added )

Vw PD engines or volvo D5 would fall into this category .

Dye is added to heating oil and is easily detected if you were stopped and dipped by hm customs and excise , this would incur a £500 fine and possible confiscation of the car and at current detection rates you would be pulled about every 236 years , so be warned !!

Given the mighty fine uses that the govt puts tax revenue to , and the large corporation willingness to contribute ,it's obvious that the moral high ground lies with just paying the duty .

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What can we do though to get the prices at the pump down? As I'm sure there are far more people that want the prices down rather than leave them at there current price. It just seems that it's the fat cats at government and the oil company's that are benefiting from these high prices.

 

You should know your place, please don't question the government.

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I thought prices were or are coming down, certainly are by me, i was paying around

£1.32 per litre in July and now its £1.23 per litre for un leaded, even better with my Tescos club card

discount knocking 16p off per litre on my next fill up :) thats 72p a gallon cheaper :)

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I thought prices were or are coming down, certainly are by me, i was paying around

£1.32 per litre in July and now its £1.23 per litre for un leaded, even better with my Tescos club card

discount knocking 16p off per litre on my next fill up :) thats 72p a gallon cheaper :)

 

tesco fuel *shrugs*

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I thought prices were or are coming down, certainly are by me, i was paying around

£1.32 per litre in July and now its £1.23 per litre for un leaded, even better with my Tescos club card

discount knocking 16p off per litre on my next fill up :) thats 72p a gallon cheaper :)

 

Same. I fill my daily once a month, and regularly hit the 20p off a litre limit. I paid £1.01 a litre today :nana:

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interesting.

 

These are private institutions - where is their incentive to pass the savings onto us?

 

They wont if they can get away with it, what will happen is some retailer will work out that dropping 3p a litre will get them more business and wont hurt in the long run, others then follow suit.

 

I can only compare it heating oil companys, a year ago they would budge on 70p now matter what if you didnt like it freeze. Now they will go lower and lower to make sure you buy from them. I moved in 6 years back with oil heating its now lower than my first fill up.

 

And going lower every day

 

http://www.boilerjuice.com/heating-oil-prices/

 

Thats tracks the last 4 years, needless to say im leaving it a good few weeks more then filling up to the brim

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  • 1 month later...

Just filled the Supra up with V-power, 1.15 per litre! Last time I filled it up it was 1.30 something :D

 

Not looking forward to the budget though, tax revenues were already down before the oil crash, so the government will likely increase fuel duty now, and by quite a bit.

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Once again i will chime in,

 

Heating oil is now 40p In the last year alone that a drop of 23p.

 

Im nearly thinking of putting in another tank to fill up. I think it will go to 35p before its all said and done. 1000 liters will easy see me though a year. £350 a year to heat /run the house is bargain.

 

Its now nearing a 10 year low

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