Diesel, petrol, oil price watch

[RedHand88]

Up a few hundred pound for 700L in a few days. Diesel not as bad, yet. You'd expect another summer like 2022. Inflation will rise and mortgage rates will follow.

[Hereiam]

The rise we are seeing in crude oil is not from supply issues its from investors buying shares to get on the pigs back to make a few quid while the rest of us pay for it.

I see OPEC has upped production of oil to try and keep a lid on the price going into the future as it will benefit Russia if it sky rockets.

[93-DY-SAM]

Up a few hundred pound for 700L in a few days. Diesel not as bad, yet. You'd expect another summer like 2022. Inflation will rise and mortgage rates will follow.

Meanwhile, the ordinary 5/8 gets screwed again. How long before supermarkets jump on this, insurance companies etc to squeeze people further? It is a vicious circle, and something needs to give somewhere to reset things. 

[toby47]

Seems like absolutely no stability in the price of anything since Covid. Been one thing after another, time & time again.

[imtommygunn]

nipped to tesco garage there and it's bunged at this time of morning. here we go again...

[Cunny Funt]

Oil prices shooting up  like mad

Luckily I topped up  the  tank  to near full last week

I'd say the diesel and  petrol will be up as well

Topped up my tank last week 300 litres for 300€, checked today to see how much 300 litres is,  400€ and expected to rise further.  Middle East war with a clown of American president getting involved has played no small part in that.

[Hereiam]

Heard on the radio this morning that the north's storage tanks at the ports are holding Irish oil stocks as they were sold of to private investors.

We get our oil etc straight off the tankers and into distributors yards, there are no buffer tanks to limit what we are seeing now.

This place really is a joke

[Baile Brigín 2]

Oil prices shooting up  like mad

Luckily I topped up  the  tank  to near full last week

I'd say the diesel and  petrol will be up as well

Topped up my tank last week 300 litres for 300€, checked today to see how much 300 litres is,  400€ and expected to rise further.  Middle East war with a clown of American president getting involved has played no small part in that.

It has played no part in it. That oil was bought 3 months ago. The above is gouging, plain and simple.

[imtommygunn]

It's just groundhog day. What did anyone do about it the last time - buck all.

[AustinPowers]

Oil prices shooting up  like mad

Luckily I topped up  the  tank  to near full last week

I'd say the diesel and  petrol will be up as well

Topped up my tank last week 300 litres for 300€, checked today to see how much 300 litres is,  400€ and expected to rise further.  Middle East war with a clown of American president getting involved has played no small part in that.

500 litres  was £300, today it's reported to be £475 in  some places.

It will probably  only get higher

[RedHand88]

Oil prices shooting up  like mad

Luckily I topped up  the  tank  to near full last week

I'd say the diesel and  petrol will be up as well

Topped up my tank last week 300 litres for 300€, checked today to see how much 300 litres is,  400€ and expected to rise further.  Middle East war with a clown of American president getting involved has played no small part in that.

It has played no part in it. That oil was bought 3 months ago. The above is gouging, plain and simple.

It's not really. If they supply you oil today at 60ppl, they are having to replace that oil tomorrow at 90ppl and lose a fortune. Their cash flow would be destroyed and it just wouldn't work. Charging at today's oil price keeps them above water.
Profit margins in oil suppliers are very small, and only a large volume keeps them in business. If they start giving out oil for less than it costs to replace, they would go into the red very quickly.

[Baile Brigín 2]

Oil prices shooting up  like mad

Luckily I topped up  the  tank  to near full last week

I'd say the diesel and  petrol will be up as well

Topped up my tank last week 300 litres for 300€, checked today to see how much 300 litres is,  400€ and expected to rise further.  Middle East war with a clown of American president getting involved has played no small part in that.

It has played no part in it. That oil was bought 3 months ago. The above is gouging, plain and simple.

It's not really. If they supply you oil today at 60ppl, they are having to replace that oil tomorrow at 90ppl and lose a fortune. Their cash flow would be destroyed and it just wouldn't work. Charging at today's oil price keeps them above water.
Profit margins in oil suppliers are very small, and only a large volume keeps them in business. If they start giving out oil for less than it costs to replace, they would go into the red very quickly.

That's not how margin based retail works.

I get the working capital argument when your product goes up, but the logic of your argument means when oil prices fall, and that means the futures market, prices should immediately fall at the pump. Which they don't.

[lurganblue]

Has gas rocketed up this time too?  I'm actually converting in about a months time.

[clonian]

Oil prices shooting up  like mad

Luckily I topped up  the  tank  to near full last week

I'd say the diesel and  petrol will be up as well

Topped up my tank last week 300 litres for 300€, checked today to see how much 300 litres is,  400€ and expected to rise further.  Middle East war with a clown of American president getting involved has played no small part in that.

500 litres  was £300, today it's reported to be £475 in  some places.

It will probably  only get higher

I got 600l for 366 last week - the same place was charging 622 for 600l yesterday

[Milltown Row2]

Has gas rocketed up this time too?  I'm actually converting in about a months time.

Yeah me too lol! Either that or a new boiler

Unfortunately for me this would require a new set of bathroom and ensuite ffs! Working till I die!