Petrol prices whats going on?

[asfault]

The oil price is well down around $66 a barrel. And the £ is worth nearly $1.30 these are the two things that normally go agaisnt us but both are the right way.
So why is the pump price still high?

[4.7AMV8]

I noticed this. I work 5 days a week in Manchester and live down in Dorset. Usually Manchester prices are a lot cheaper but now even my local garage "small town, 1 petrol station so can charge what they want" is actually cheaper than the Asda garage at Trafford Centre.

[Zio Di Roma]

asfault said:

The oil price is well down around $66 a barrel. And the £ is worth nearly $1.30 these are the two things that normally go agaisnt us but both are the right way.
So why is the pump price still high?

Rocket and feather pricing

[Crudeoink]

There's a nearly 10p/L price difference between where I live and 30mins away in Reading. I think they petrol stations realised they can pretty much charge whatever they want and people will just pay it

[MitchT]

Expensive fuel travels quickly and cheap fuel travels slowly. Before the cheap fuel made from cheap oil gets here more expensive fuel that is created after the oil price goes up again overtakes it and gets here first.

[Mr Tidy]

I hadn't realised the crude price had dropped and the £ to $ ROE was so favourable.

I was just glad when I filled up with Tesco Momentum a few days ago that it was still £1.429 a litre!

Looks like it should have been less.

[Gladers01]

Mr Tidy said:

I hadn't realised the crude price had dropped and the £ to $ ROE was so favourable.

I was just glad when I filled up with Tesco Momentum a few days ago that it was still £1.429 a litre!

Looks like it should have been less.

The prices seem to vary up and down the country, late afternoon in Marylebone:

[TooLateForAName]

I drove past a sign showing £1.77 just outside sheffield earlier this evening. didn't see if that was petrol or diesel.

[MB140]

Weirdly my local shell was £1.33, the local Asda, £1.39, since when did shell start being cheaper than supermarkets.

Something weird is certainly going on.

[leef44]

That's interesting I hadn't realised oil prices have dropped. I'm paying the highest prices I've seen for a while to get Shell VPower.

[Patio]

TooLateForAName said:

I drove past a sign showing £1.77 just outside sheffield earlier this evening. didn't see if that was petrol or diesel.

Was that the services?

They always charge rediculous money

[Mr Tidy]

MB140 said:

Weirdly my local shell was £1.33, the local Asda, £1.39, since when did shell start being cheaper than supermarkets.

Something weird is certainly going on.

I see Shell stations advertising a similar, or sometimes lower, price for unleaded than my Tesco. But if you want 99RON E5 Shell and Esso will always charge way more than Tesco.

[GolfDragon]

I find the cost of Shell V-Power varies massively across the country.

I don’t frequently use it, but in West Yorkshire back in October/November I paid 144.9 /litre for it. My nearest shell station still charges 164.9/L (hence why I don’t buy it and either use Momentum or E10).

[vikingaero]

In the past supermarkets used fuel as a loss leader to attract people to their stores. That no longer happens, especially as all Morrisons fuel stations are owned by MFG and Asda by EG Group. In effect there is a lot less competition.

With loyalty cards being utter cack, it pays to be disloyal.

[Robertb]

In Dec 21 the oil price was around $70, £ was $1.35. Petrol was around £1.46/L, diesel £1.49 This is equivalent to around £1.80 adjusted for general inflation.

[mmm-five]

Remember what our overlords keep telling us...the crude oil price only has a minor impact on fuel prices.\



In the chart above the 26% for 'Wholesale Petrol Cost' is made up of the crude oil cost (70%) + processing (30%) to turn it into petrol & diesel...and we know all the costs involved in that processing (energy & labour) have increased.

So if you take all that into account, a 10% swing in crude oil prices should only have a 1.8% swing on pump prices.

[Aiminghigh123]

mmm-five said:

Remember what our overlords keep telling us...the crude oil price only has a minor impact on fuel prices.\



In the chart above the 26% for 'Wholesale Petrol Cost' is made up of the crude oil cost (70%) + processing (30%) to turn it into petrol & diesel...and we know all the costs involved in that processing (energy & labour) have increased.

So if you take all that into account, a 10% swing in crude oil prices should only have a 1.8% swing on pump prices.

Exactly. That’s why in places like USA, UAE etc although it’s really cheap to us when oil prices jump up they notice it more.

[mmm-five]

...and meant to say in my previous post that there's a £0.22/L spread between the cheapest diesel (Costco 127.9p/l)) and most expensive garage (BP/Shell £149.9) in my area.

I won't bother shopping around for 1-2p difference (£0.50-£1.00 total) on a 50L fill up, but at 22p difference it was £11 in my pocket.

[wazztie16]

£1.37 petrol and £1.41 diesel at the same garage I passed earlier (can't remember which group, possibly Apple green) in Ilkeston.

I don't often see a difference of 4 pence.

[Supersam83]

Costco in Leicester today:

Unleaded - £1.319

Premium Unleaded - £1.399

Premium Diesel - £1.359



Costco in Liverpool today:

Unleaded - £1.229

Premium Unleaded - £1.389

Premium Diesel - £1.279


I bet the cost of Milk and Bread is the same in both cities regardless of supermarket!