£1 per litre

[lol-lol]

You do not lose Duty & VAT if the Quantity sold increases.  

Increase Litres selling, and people filling tanks again has money flowing, people think that they are saving £3 spend £60 more a month than they would have 2 months ago.

More Litres sold @ a lower price might mean more revenue.

 

But then the UK Governments Green Credentials are out the window.  

By the same merit the other EU countries laugh at what the UK committed its self to.

 

Oil revenues are broadly static considering the rise in vehicle numbers but those vehicles being on average more efficient and miles per person also static the below statement is extracted from the report ie revenue in line with inflation.  This is the excise duty element but the VAT element, despite the Cons rising Vat from 17.5% to 20%, will drop with fuel prices droping from 135p per litre to 115p per litre of course.

 

"Hydrocarbon Oils Duties

Hydrocarbon Oils accounted for 5 per cent of total revenue at £26.9

billion, £0.4 billion (1.5 per cent) higher than 2012-13. This increase is

primarily due to a rise in consumption of diesel resulting from a reduction

in pump prices earlier in the year."

 

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/330670/HMRC-annual-report-2013-14.pdf

[Paul007]

Tesco charged me £1.10 yesterday for diesel.

[stever750]

Shell V power was £1.20 / L yesterday in N Yorks. If it drops under a £1/L then the case for petrol v diesel changes massively. I'm going to stop worrying too much about only getting 34mpg out of the leon.

[BO60BYS]

£1.15.9 for premium diesel in costco today!

[WeirdKerr]

can it go lower in the new year??

[stever750]

The expert opinion is that $60 a barrel should yield £1 a litre at the pumps. It takes a while for the price to come down against crude simply because of the lead-time from extraction to the forecourt. Depends on how much margin the supermarkets want to hold onto in the face of such a price cliff.

[mannyo]

With my 4P off a litre, I paid £1.059 for UL at Tesco at the weekend so its getting very close to £1.

[Aspman]

Noticed something strange tonight.

 

Our local rural Gulf station was charging the same price for diesel as the larger supermarket 20mi away.

 

Petrol was 5p dearer at the rural station which the usual gap for both.

 

Profiteering on diesel prices by the big boys?

[trundlenut]

I noticed tonight that diesel is 7p/l more than petrol at both Tesco and Asda near me.

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[Dr Zoidberg]

It's 8p a litre more at the local supermarkets which is definitely taking the ****. It was only 3 or 4 a few months back.

Given that the tax is the same on both that's a huge percentage difference in the actual fuel cost. This happened a few years back last time fuel came down a lot. Using the profit in diesel to subsidise the cheap unleaded.

Edit - twenty percent more for diesel compared to unleaded, once tax is taken off.

Edited 22 December, 2014 by Dr Zoidberg

[WeirdKerr]

Diesel always is a little dearer in winter than summer.... I'm sure someone will be along in a minute to explain why

[mac11irl]

Diesel has always remained cheaper than petrol in rep of Ireland... Got a tank today at my local Tesco, which the seems to like, €1.27/litre - £0.996/litre according to xe.com just now, and... I had a 10cent off /litre voucher... Saved a full €5 on the cost of the fill up!!

[mac11irl]

Diesel always is a little dearer in winter than summer.... I'm sure someone will be along in a minute to explain why

short answer - kerosene demand goes up for heating oil and diesel generators are run alot more in winter..

[samj2013]

118.1 at Texaco in Valley today - cheapest I've seen it around these parts.

Edited 24 December, 2014 by samj2013

[vectra1]

Noticed a big difference today in the price of diesel

Orange light was on and was showing 53kms left in the tank

I threw in€50 and had well over 3/4 tank for that. I think 37 + litres.

Happy times.

[nickguzzi]

Friend just arriving back from his skiing hols.  He said he was paying 80p/litre usually.

 

According to an article in the telegraph the other day, Saudi is prepared to go to $20 a barrel.  Presumably to further undermine the viability of marginal production areas.

And a shot at the Rooosians too.  History seems to indicate that tends to come back and haunt you.

[Ootohere]

Lots of them are saying lots of stuff, but the Oil Producers need in the end to remember not only who the Superpowers are or were,

& who has nuclear,

But who Armed & Trained their Military, provided the Planes, Parts, Radar Systems & Weapons,

also who has been protecting the Pipelines and Sea Ways.

 

China & the USA know exactly what they are doing & using the excuse it all is OPEC's  doing.

 

All will be against Russia, but doing all the back door deals, just as they are with ISIS.

 

I bet not many Oil Executives are topping themselves due to being down to their last Millions or even Billions.

Edited 24 December, 2014 by goneoffSKi

[trundlenut]

Lots of them are saying lots of stuff, but the Oil Producers need in the end to remember not only who the Superpowers are or were,

& who has nuclear,

But who Armed & Trained their Military, provided the Planes, Parts, Radar Systems & Weapons,

also who has been protecting the Pipelines and Sea Ways.

China & the USA know exactly what they are doing & using the excuse it all is OPEC's doing.

All will be against Russia, but doing all the back door deals, just as they are with ISIS.

I bet not many Oil Executives are topping themselves due to being down to their last Millions or even Billions.

In many cases the Russians supplied the weapons...

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[Ootohere]

Exactly.

& is on the same Continent as the Pipelines, Ports & Oil Wells.  

The United States of America is the odd one out.

[seboni121]

Seems like it's going up here ? Petrol at shell gone up from £112.9 to £114.9

[trundlenut]

So the US control global oil prices?

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[Ootohere]

OPEC say they no longer can,

 but then why were they ever allowed to anyway.?

 

http://cnbc.com/id/102289814

 

The United States of America is a Country, it is people that control things not Countries.  

 

Maybe the same people that control the United States and other countries control the Oil,

like the people that used to control the Oil Tankers.

 

Anyway, as bad as it is for the UK that the oil might be worth less, 

at least then it will not be getting extracted in UK waters just to pay the Benefits System.

Edited 24 December, 2014 by goneoffSKi

[trundlenut]

So who are the people "in control"?

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[Ootohere]

That will have been the richest people in the world for the last few decades.

 

The richest in the World for the future will control Fresh Water (H20),

& that is where the Richest now are investing their money from Oil.

 

It is not complicated, everything can be created, apart from H20 Solar, Wind & Water can produce power.  

What the world has now is all it will ever have.

 

The same with Minerals other than Oil, 

& thats why the Richest in the World are looking at investing in getting to other Planets in Space.

 

http://en.wikipedia.org/wiki/The_Carlyle_Group

Edited 24 December, 2014 by goneoffSKi

[trundlenut]

That will have been the richest people in the world for the last few decades.

The richest in the World for the future will control Fresh Water (H20),

& that is where the Richest now are investing their money from Oil.

It is not complicated, everything can be created, apart from H20 Solar, Wind & Water can produce power.

What the world has now is all it will ever have.

The same with Minerals,

& thats why the Richest in the World are looking at investing in getting to other Planets in Space.

I think you will find that the chemistry fraternity would disagree with you there.

If we get to the point where fresh water is the be all and end all then all the money in the world will make no difference.

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