Diesel, petrol, oil price watch

[RedHand88]

Worked it out and I'm going through £400 a month on diesel. I drive an economic enough car at 55mpg, it's the miles that kill me.

[johnnycool]

Anyone think there's a bit of gouging going on by the big businesses on this one?

Yes gas and oil have went up but the hoors that provide it and process it have hugely increased their profit margins in the process and that has fed into other sectors..

Time for a revolution.

[nrico2006]

To the layman out there there appears to be a misconception that the price of oil/petrol/diesel etc. is completely driven by the suppliers.  Is it not something like only 39% of the price of a litre that is linked to the actual supplier price, with the other 60% odd percent within the control of the government?

[Hound]

To the layman out there there appears to be a misconception that the price of oil/petrol/diesel etc. is completely driven by the suppliers.  Is it not something like only 39% of the price of a litre that is linked to the actual supplier price, with the other 60% odd percent within the control of the government?

That's correct (not sure of the exact %, but I'd say that's in the ballpark).

But also to remember that it's part of the whole suite of taxes that are collected and used. While energy tax receipts will have gone up, it's a case of "the polluter pays" and it increases the exchequer surplus or reduces the deficit for the year.

Governments don't want to reduce tax on petrol, because if/when prices go back to normal (whatever that is), they'd be left with a hole that would need to be filled by extra taxes on something else. There's definitely a case though that there should be some price ceiling above which normal excise does not apply.

[Champion The Wonder Horse]

With diesel currently at £2.019 per litre at the nearest reputable filling station and with me being able to claim 45p per mile for business, I need to be to able to claim for at least 40.7% of my monthly mileage before it starts costing me. I am assuming a conservative 50mpg.

I hope to update this on a regular basis.

[johnnycool]

To the layman out there there appears to be a misconception that the price of oil/petrol/diesel etc. is completely driven by the suppliers.  Is it not something like only 39% of the price of a litre that is linked to the actual supplier price, with the other 60% odd percent within the control of the government?

I know that and also the Gov knows their 5p reduction was a token gesture as when the costs went up multiples of that their tax take also went up considerably.

we're being stroked by them too.

[Keyser soze]

The government should abolish fuel excise duty, would solve their inflation problem overnight.

[trueblue1234]

https://www.google.com/amp/s/www.dailymail.co.uk/news/article-10590733/amp/Tesla-driving-Stephen-Colbert-preaches-surging-gas-prices-worth-clean-conscience.html

Just get a Tesla, says US talk show host Stephen Colbert.

I have to change the car for a few reasons and was actually thinking would electric be an option. We're a 2 car family, and would keep a larger diesel 7 seater for all family trips, holidays etc. but is an electric car an option now? We both work at home but with some travel for work. Would generally be doing school runs and short journeys during the week with maybe one trip to Belfast (150 odd miles round  trip) a week and the odd other trip at 150 miles tops.
Was thinking anything within range could be picked up by the electric car. Would be some saving given we could rack up 4-500 diesel a month costs. Anyone much experience with all electric?

[clarshack]

When will people take to the streets?

And that will do what? The UK government, of which we are not in control of or have any say in, who get into elected positions are the only people to 'get' at by voting for someone who'll actually do something about it... At the minute the Tories don't give a flying f**k and the same people will still give them a majority win come the polls.

The higher the fuel goes up the more money the government make and the more money the share holders of BP and so on will keep this going.. Its getting to the point where nearly every time I'm in the car I'm wondering do I have to?

Unfortunately I have to for work

Wasn't there fuel protests in 2000 (in England anyway) when a litre was heading towards the £1 mark and because of the protests it came down again?
If people don't protest it will be £2.50 before you know it.

[Maroon Manc]

To the layman out there there appears to be a misconception that the price of oil/petrol/diesel etc. is completely driven by the suppliers.  Is it not something like only 39% of the price of a litre that is linked to the actual supplier price, with the other 60% odd percent within the control of the government?

That's correct (not sure of the exact %, but I'd say that's in the ballpark).

But also to remember that it's part of the whole suite of taxes that are collected and used. While energy tax receipts will have gone up, it's a case of "the polluter pays" and it increases the exchequer surplus or reduces the deficit for the year.

Governments don't want to reduce tax on petrol, because if/when prices go back to normal (whatever that is), they'd be left with a hole that would need to be filled by extra taxes on something else. There's definitely a case though that there should be some price ceiling above which normal excise does not apply.

Its 52.9p a litre in fuel duty and VAT is 20% so about 80p in a litre goes to the government over here. Duty was cut by 5p a litre but they've made it with the extra their making on the VAT. This time last year they were probably making 20p a litre on VAT but now its about 30p.

[clarshack]

https://www.google.com/amp/s/www.dailymail.co.uk/news/article-10590733/amp/Tesla-driving-Stephen-Colbert-preaches-surging-gas-prices-worth-clean-conscience.html

Just get a Tesla, says US talk show host Stephen Colbert.

I have to change the car for a few reasons and was actually thinking would electric be an option. We're a 2 car family, and would keep a larger diesel 7 seater for all family trips, holidays etc. but is an electric car an option now? We both work at home but with some travel for work. Would generally be doing school runs and short journeys during the week with maybe one trip to Belfast (150 odd miles round  trip) a week and the odd other trip at 150 miles tops.
Was thinking anything within range could be picked up by the electric car. Would be some saving given we could rack up 4-500 diesel a month costs. Anyone much experience with all electric?

2 cars as well, I'd say our fuel bill this month will be approx £350 and that's us both working from home 2 days a week. the best of it is I haven't even went any further than Cookstown or Dungannon in that time. All the trips for the kids school runs, training, matches and discos don't be long adding up. 
So therefore also thinking of electric as my next car.

[trueblue1234]

https://www.google.com/amp/s/www.dailymail.co.uk/news/article-10590733/amp/Tesla-driving-Stephen-Colbert-preaches-surging-gas-prices-worth-clean-conscience.html

Just get a Tesla, says US talk show host Stephen Colbert.

I have to change the car for a few reasons and was actually thinking would electric be an option. We're a 2 car family, and would keep a larger diesel 7 seater for all family trips, holidays etc. but is an electric car an option now? We both work at home but with some travel for work. Would generally be doing school runs and short journeys during the week with maybe one trip to Belfast (150 odd miles round  trip) a week and the odd other trip at 150 miles tops.
Was thinking anything within range could be picked up by the electric car. Would be some saving given we could rack up 4-500 diesel a month costs. Anyone much experience with all electric?

2 cars as well, I'd say our fuel bill this month will be approx £350 and that's us both working from home 2 days a week. the best of it is I haven't even went any further than Cookstown or Dungannon in that time. All the trips for the kids school runs, training, matches and discos don't be long adding up. 
So therefore also thinking of electric as my next car.

I know there's an obvious cost in charging but I was less to believe on the right tariff it's minimal enough in comparison. I honestly believe if we got electric we could take £300 a month off. (Depending on cost of charging) Wouldn't be that long adding up to cover the extra cost of the car.

[93-DY-SAM]

Is insurance any different on electric cars - more expensive / less expensive or just the same as a comparable petrol/diesel car?

[Wildweasel74]

War been going on 6 plus months now, why does the cost keep Increasing. Price of food at the minute a goddamn disgrace, to the point am havig to help people out. How is it rich people in UK and America always end up running the countries where there decisions on less wealthly people do not affect them.

[nrico2006]

Sure is the price of a barrel of oil not away down this past few weeks?