The next recession

[RedHand88]

A place in Coalisland has diesel at 169.9. The Cohannon is 150.9. Big differences between places so look around.

[seafoid]

https://www.ft.com/content/1b517f6d-9056-41ba-9d1e-324e495b5041
Top shale oil boss warns US can't replace any Russia shortfall

Pioneer's Scott Sheffield warns crude could hit $200 in event of western energy embargo

[Hound]

In the south, Applegreen announced they are putting through a 'substantial' increase first thing this morning. Not sure how much that is, but unusual to come out with a statement like that. Probably worth keeping an eye out today for other providers who haven't increased yet and filling up - as everyone else is bound to follow suit shortly (if they haven't already!)

[seafoid]

https://www.ft.com/content/1b517f6d-9056-41ba-9d1e-324e495b5041
West Texas Intermediate crude was $112 a barrel on Friday, 90 per cent higher than a year ago.

[seafoid]

https://www.ft.com/content/e315f100-1de9-42c4-a5a3-8a1245664641
EU stagflation looks highly likely," Michael Hartnett, chief investment strategist at BofA, said in a note on Friday, referring to the combination of weak economic growth and high inflation that he expected to follow the outbreak of war between Russia and Ukraine.



Stagflation means inflation is higher than payrises

https://www.ft.com/content/7614f65b-f584-4f76-9c3e-8d0d7f211d87Pl



Russia accounts for roughly 10 per cent of global oil production and supplies 40 per cent of the EU's gas, meaning any future sanctions placed on the country's largest fossil fuel groups could further inflate prices, which have already soared to record highs. A weaker euro accentuates that rise in prices still further. Prices for coal, aluminium and wheat, all of which are exported in vast quantities by Russia, have also soared in recent weeks. Rising prices, along with western sanctions on Moscow and the rising risk of "financial market accidents", now threatened a global recession, Hartnett said.

[armaghniac]

It is a good job that there some big oil tanks in South Armagh.

[Wildweasel74]

Saudi Arabia could put their oil production through the roof if they wanted to, but doesn't suit them.

[Average Score]

Its astonishing how prices for oil have nearly doubled in 5 weeks, I am sure oil distributors ensured all their stock went out at the profit margins they bought it for before the hikes!

[Cavan19]

Its astonishing how prices for oil have nearly doubled in 5 weeks, I am sure oil distributors ensured all their stock went out at the profit margins they bought it for before the hikes!

Yep prices are rising but the price at the pumps is been put up very quickly on the forecourts to get maximum profit.

[armaghniac]

Its astonishing how prices for oil have nearly doubled in 5 weeks, I am sure oil distributors ensured all their stock went out at the profit margins they bought it for before the hikes!

Yep prices are rising but the price at the pumps is been put up very quickly on the forecourts to get maximum profit.

Some have, and remember those for the future. But they only get a couple of days benefit from this they way things are .

[Milltown Row2]

Seen a garage in Turf lodge west Belfast.. 1.61 for petrol! Must have a few bob in those areas 

[seafoid]

The war is driving inflation higher so the medicine to get inflation down will hurt more.

[Tony Baloney]

About 1100 quid for 1000L of home heating oil at the min. We got 1000L for 590 quid 2.5 weeks ago. Madness.

Heard a fella on RTE radio earlier say that they're not sending their trawler out as it now costs E22 grand to fish for a week whereas a year ago it was 10 grand and the margins just aren't in the quotas now.

[JoG2]

About 1100 quid for 1000L of home heating oil at the min. We got 1000L for 590 quid 2.5 weeks ago. Madness.

Heard a fella on RTE radio earlier say that they're not sending their trawler out as it now costs E22 grand to fish for a week whereas a year ago it was 10 grand and the margins just aren't in the quotas now.

I remember LCC were doing a 1000ltrs for under well £300 (can't remember the exact price) around April / May of 2020

[toby47]

Drove by two petrol stations about 15 mile apart today.

One was 190.9 and the other was 154.9 for Diesel.