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Petrol prices on the UP AGAIN

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Comments

  • Registered Users Posts: 2,985 ✭✭✭skelliser


    Blut2 wrote: »
    Thats an 80km commute each way. Why in gods name would you live 80km away from your job? He's got nobody to blame but himself in that situation - either move house or move jobs. Driving 160km a day (plus any leisure driving) is madness.

    they bought because thanks to speculators and banksters driving up the price of houses closer to there place of work.

    Remember people believed all the hype and where seriously scared that if they didnt buy a house soon they would never be able to afford one.
    This was the mentality of the peak boom years.


  • Registered Users Posts: 756 ✭✭✭Agent_47


    Remember in 2003 trying to get a gaffe close to work in Sandyford, not a chance, Luas and M50 works along with Dundrum shopping centre drove prices above where we wanted to be. Not to mention house price changes from morning enquiry to evening veiwing in far off places such as Celbridge and Maynooth.
    Stayed where we were and do the commute. Anyway, less crime here housewise.


  • Registered Users Posts: 66 ✭✭johnbobtheslob


    is there any specific reason why the price of fuel continues to rise?


  • Closed Accounts Posts: 10,025 ✭✭✭✭-Corkie-


    MYOB wrote: »
    Extremely unlikely except in very certain circumstances.

    Even basic entry level wages are up about 30% or more after conversion to euro since 1999.

    The mimimum wage in 2000 was £4.40 and its now €8.65.

    I was too taking home nearly 700 pound a week and I was only in my early twenties.... If I earned 700 a week now I would be laughing.


  • Registered Users Posts: 2,863 ✭✭✭Blut2


    skelliser wrote: »
    they bought because thanks to speculators and banksters driving up the price of houses closer to there place of work.

    Remember people believed all the hype and where seriously scared that if they didnt buy a house soon they would never be able to afford one.
    This was the mentality of the peak boom years.

    1) Nobody held a gun to anyones head and forced them to buy a house, personal responsibility is rather key here. "they made me do it" doesnt cut it with 5 year olds so certainly shouldnt with 35 year olds.
    2) I'm fairly sure that an affordable house could have been bought less than 80km away from Dublin, thats a tad excessive even for the boom era commuter towns.

    Either way petrol prices are only going one way in the long term, up. Commutes of that distance arent going to be sustainable. The guy with the 160km daily commute can moan all he likes but realistically hes going to have to either suck it up and spend the money on petrol, get a new job or move house. Petrol prices in five years and ten years time from now are not going to be any lower than today.


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  • Posts: 23,339 ✭✭✭✭[Deleted User]


    In fairness taking home £IR700/week wasn't typical for your average early 20s dude back in 1999 :)

    I remember working in Atlantic Homecare in the summer of 1998, IR£3.20/hour was the rate, I believe the full timers were on a small bit more, nothing major though. Video shops, petrol stations, betting offices etc were all paying about that.

    In Summer 1999 I worked 6 days for £IR150/week, there were some other benefits.

    At the time the dole was less than £IR120/week for a single person iirc.


  • Closed Accounts Posts: 3,354 ✭✭✭Sobanek


    Blut2 wrote: »
    Petrol prices in five years and ten years time from now are not going to be any lower than today.

    I disagree. Every now and then we have an energy crisis. It's not a matter of "if", it's a matter of "when". They will surely fall, but we don't know when.


  • Registered Users Posts: 4,487 ✭✭✭Seweryn


    Sobanek wrote: »
    I disagree. Every now and then we have an energy crisis. It's not a matter of "if", it's a matter of "when". They will surely fall, but we don't know when.
    I really wish you are right about the falling prices, but you are not. There may be some few cent drops every so often, but in the long term fossil fuel prices will continue to rise.


  • Registered Users Posts: 2,863 ✭✭✭Blut2


    Sobanek wrote: »
    I disagree. Every now and then we have an energy crisis. It's not a matter of "if", it's a matter of "when". They will surely fall, but we don't know when.

    Oil is a finite resource that will, sooner rather than later, run out. As cheap to obtain sources of it dry up the price will inevitably rise.

    http://www.aaireland.ie/AA/Motoring-Advice/~/media/Files/AA%20Ireland/Reports/Fuelprices%20history_March%202012.ashx

    A quick google gives this, showing fuel prices going back to 1991. Theres a fairly obvious trend in that 21 year time period...


  • Registered Users Posts: 1,645 ✭✭✭yer man!


    Is there a reason to why fuel seems to be more expensive in Galway compared to Cork or Dublin? saw quite a lot of stations in the two cities selling fuel about 4c cheaper than any station in Galway.


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  • Closed Accounts Posts: 6,096 ✭✭✭johnos1984


    yer man! wrote: »
    Is there a reason to why fuel seems to be more expensive in Galway compared to Cork or Dublin? saw quite a lot of stations in the two cities selling fuel about 4c cheaper than any station in Galway.
    Cute whores know you won't drive anywhere else for a fill up


  • Banned (with Prison Access) Posts: 16,635 ✭✭✭✭dr.fuzzenstein


    Blut2 wrote: »
    1) Nobody held a gun to anyones head and forced them to buy a house, personal responsibility is rather key here. "they made me do it" doesnt cut it with 5 year olds so certainly shouldnt with 35 year olds.
    2) I'm fairly sure that an affordable house could have been bought less than 80km away from Dublin, thats a tad excessive even for the boom era commuter towns.

    Either way petrol prices are only going one way in the long term, up. Commutes of that distance arent going to be sustainable. The guy with the 160km daily commute can moan all he likes but realistically hes going to have to either suck it up and spend the money on petrol, get a new job or move house. Petrol prices in five years and ten years time from now are not going to be any lower than today.

    OK, so options are spend the money on petrol, find a new job or move house.
    There are a lot of people however for whom that is quite difficult.
    1: There is a limit on how much one can spend, once that is reached, something will have to go unpaid, electricity, mortgage, heating bill, food, car tax, etc...
    2: Find a new job. Not always easy, there may be some hope on that front, but the day of hopping from one high paid job to another are over. Salaries will continue to go down, as employers are exploiting the labor market.
    3: Move house. Well, that is the tricky part right there. A lot of people are stuck where they are, be it their fault or not.
    But you forget option 4:
    Default on mortgage or other bills. This will drive hundreds of thousand of people into bankruptcy. Now you can say "huh, serves 'em right", but the problem is that this will simply add pressure to the banks. That means more money for the banks from the government, higher taxes, etc...
    We are looking at up to half a million mortgages that people might default on, this will cost more money than can ever be pumped in from the government or even Europe.
    When people saw the crash coming, they where laughed at. Now it is being warned that it could get even worse in the future and Ireland is heading for a gigantic financial black hole.
    Then it won't matter whose fault it is, because we are heading for the dark ages. Saying "Ah, I'm grand and why is everyone else so stupid" won't help. It wasn't the stoker's fault that the Titanic sank, they went with it anyway.


  • Registered Users Posts: 9,222 ✭✭✭keithclancy


    OK, so options are spend the money on petrol, find a new job or move house.
    There are a lot of people however for whom that is quite difficult.
    1: There is a limit on how much one can spend, once that is reached, something will have to go unpaid, electricity, mortgage, heating bill, food, car tax, etc...
    2: Find a new job. Not always easy, there may be some hope on that front, but the day of hopping from one high paid job to another are over. Salaries will continue to go down, as employers are exploiting the labor market.
    3: Move house. Well, that is the tricky part right there. A lot of people are stuck where they are, be it their fault or not.
    But you forget option 4:
    Default on mortgage or other bills. This will drive hundreds of thousand of people into bankruptcy. Now you can say "huh, serves 'em right", but the problem is that this will simply add pressure to the banks. That means more money for the banks from the government, higher taxes, etc...
    We are looking at up to half a million mortgages that people might default on, this will cost more money than can ever be pumped in from the government or even Europe.
    When people saw the crash coming, they where laughed at. Now it is being warned that it could get even worse in the future and Ireland is heading for a gigantic financial black hole.
    Then it won't matter whose fault it is, because we are heading for the dark ages. Saying "Ah, I'm grand and why is everyone else so stupid" won't help. It wasn't the stoker's fault that the Titanic sank, they went with it anyway.

    Option 4, default on Mortage hand house back to bank and go rent someplace.

    Or Option 5, sell house at a loss, get a personal loan for the Balance.

    Buying a house as an investment was never a sure thing no matter what people said.


  • Banned (with Prison Access) Posts: 963 ✭✭✭NinjaK


    is there any specific reason why the price of fuel continues to rise?

    Israel and the US threatening to invade Iran might have something to do with it:rolleyes:


  • Registered Users Posts: 37,295 ✭✭✭✭the_syco


    Its looking that way. Although i got a fill of diesel for 154.9 today so it pays to keep an eye out for slightly cheaper fuel.
    At the same time, you'd be wondering if the "cheap diesel" will ruin your engine.
    Blut2 wrote: »
    2) I'm fairly sure that an affordable house could have been bought less than 80km away from Dublin, thats a tad excessive even for the boom era commuter towns.
    Are you having a laugh? Anywhere that had houses built near it were already charging an arm and a leg for absolute sh|tholes.
    Blut2 wrote: »
    get a new job or move house.
    I know of people who leave their families during the week to live down the country, as it's cheaper than driving, but most of these people have their homes already paid off.
    RoverJames wrote: »
    I remember working in Atlantic Homecare in the summer of 1998, IR£3.20/hour was the rate
    Bastid. Was doing kitchen work at a local restaurant at £2 back in '98!
    Option 4, default on Mortage hand house back to bank and go rent someplace.

    Or Option 5, sell house at a loss, get a personal loan for the Balance.
    In America, maybe. In Ireland if you owe €200,000 on the house and hand back the keys to the bank, the bank can sell it for €90,000 and you'll still owe the remaining €110,000 to the bank. There is no jingle here.


  • Registered Users Posts: 9,222 ✭✭✭keithclancy


    the_syco wrote: »
    In America, maybe. In Ireland if you owe €200,000 on the house and hand back the keys to the bank, the bank can sell it for €90,000 and you'll still owe the remaining €110,000 to the bank. There is no jingle here.

    Better to do it yourself then, thereby minimising your losses.


  • Registered Users Posts: 19,106 ✭✭✭✭TestTransmission


    I wonder what impact this would have here (regarding prices) if it was to happen.
    Britain is poised to cooperate with the US on a release of strategic oil stocks that is expected within months. This would assist in a bid to prevent fuel prices from choking economic growth in the US during an election year. Other countries may also be approached by Washington to contribute, Japan being one of them.



    strategic-oil-reserves.jpg

    http://blog.thomsonreuters.com/index.php/strategic-oil-reserves-graphic-of-the-day/


  • Registered Users Posts: 51,118 ✭✭✭✭tayto lover


    NinjaK wrote: »
    Israel and the US threatening to invade Iran might have something to do with it:rolleyes:

    Plus the fact that the garage owners and the Govt are hopping on the bandwagon.


  • Registered Users Posts: 9,222 ✭✭✭keithclancy


    Stopped in a Petrol Station yesterday, was 186.8/litre.

    Was on the A58 between Eindhoven and Tilburg.


  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,098 Mod ✭✭✭✭L1011


    -Corkie- wrote: »
    I was too taking home nearly 700 pound a week and I was only in my early twenties.... If I earned 700 a week now I would be laughing.

    But you're not in the same industry now, for starters?

    There's been a few areas where wages have fallen but on the whole, fuel prices haven't actually increased much above wages.


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  • Registered Users Posts: 41 REDLAD123


    Fuel prices are becoming a problem for jobseekers now too (ie it needs to be factored in to the decision of wether to take a job or not).

    If someone was offered a job 50 miles away they would lose a good days pay in fuel alone each week (€100 per wk for fuel approx)

    PS. Before some smart-arse posts (get a different job close to home or buy a new house closer to work)

    There are F**k all jobs around and the banks are not lending to unemployed people.


  • Posts: 23,339 ✭✭✭✭[Deleted User]


    REDLAD123 wrote: »
    ...........

    If someone was offered a job 50 miles away they would lose a good days pay in fuel alone each week (€100 per wk for fuel approx) .............

    Using your figures :)
    1) €100 per day wages
    2) That's €500/week
    3) €400/week after fuel costs
    4) That's more than social welfare for most folk, over double social welfare for all single folks with no dependents.

    I'd say the number of people offered jobs 50 miles away are quite small to be an issue tbh. If they don't accept the job someone else will anyway, overall effect on economy is negligible once someone take the job.


  • Registered Users Posts: 16,191 ✭✭✭✭Galwayguy35


    the_syco wrote: »
    At the same time, you'd be wondering if the "cheap diesel" will ruin your engine.

    In fairness i think most people, myself included can tell the difference between a cheaper fill of 3 cent a litre and a price that is obviously way below cost.


  • Banned (with Prison Access) Posts: 16,635 ✭✭✭✭dr.fuzzenstein


    Option 4, default on Mortage hand house back to bank and go rent someplace.

    Or Option 5, sell house at a loss, get a personal loan for the Balance.

    Buying a house as an investment was never a sure thing no matter what people said.

    You see, option 4 is exactly the problem.
    How much will it cost if 100000 people default on their mortgage?
    Let's just assume the average mortgage is E200k.
    That will mean a loss to the banks of E20000000000.
    They might recoup some of it by selling the house, but nowhere near that figure.
    They will then be bailed out again by the government and who pays for that?
    You, me and everybody. The government will then need another bailout from Europe, who pays for that?
    You, me and everybody.
    That is the crux of the argument here and moaning "it wasn't my fault" and "why did they have to be so stupid and buy that house" will be irrelevant.
    Outcome:
    Higher taxes, less jobs, less income for everybody.
    Then the chestbeating by the "personal responsibility" brigade will cease and the real poverty (for at least 20 years) will kick in.
    I'm not in negative equity, so I'm hoping to have sold my gaff and gotten out of here along with everybody else who can.
    Result?
    Less people to shoulder the burden.
    Ireland will become a black hole of debt and poverty for the foreseeable future, because the government is completely unable to look past simply jacking up taxes and hoping for the best.

    And 100000 people defaulting on their mortgage is, at the moment, the optimistic view.
    http://www.irishexaminer.com/ireland/kfqleymhsnid/rss2/


  • Closed Accounts Posts: 609 ✭✭✭Dubit10


    heate wrote: »
    If your earned more in 1999 than you do know you must have been in receipt of some huge bonuses or commissions or have readily taken worse jobs.
    I accept the governemnt had thrown up the price of fuel in successive budgets but they still haven't reached European levels (and if you think they've higher disposable incomes the majority simply don't) As for petrol is to expensive I'm going on the dole. What a horrible attitude to hold.
    Why in gods name did peope move 100km from work and expect everything to be okay? Is there not a train or bus service that could reduce his outgoings?

    No trains or buses i'm afraid. I don't think it is a horrible attitude tbh. I actually spoke to him yesterday and he's quiting in two weeks handing in notice today. He's worked it out and he'll be better off to the tune of 30 euro a week and will have the medical card for his family. On top of this he will be recieving rent allowance. It's a no brainer for him. The guy has worked all his life since he left school that's 17 years straight.

    Crazy country we live in when it's better to go on the dole than stay in a job.

    Oh and don't be a penis i have'nt "readily taken worse jobs", in case you did'nt notice there is a race to the bottom in full progress.


  • Registered Users Posts: 12,740 ✭✭✭✭galwaytt




    Option 4, default on Mortage hand house back to bank and go rent someplace.

    Or Option 5, sell house at a loss, get a personal loan for the Balance.
    .

    In reverse order, and bear in mind I'm in the 'house business' - in fact I'm working at Ecobuild in London all this week - Stand N752 if you're inlined :) - Option 5 simply doesnt exist. I am telling you categorically, that banks are not lending, period. I deal with clients with this problem all the time.

    Option 4 then is all that will be left for a lot of people. If you don't have the money, you can't pay your mortgage, then there is no other way. And as for banks chasing people on the dole, to recoup money that can never be repaid..? Waste of time.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



  • Registered Users Posts: 15,187 ✭✭✭✭Vicxas


    AFAIK its in relation to tensions in Iran and their nuclear program.


  • Posts: 23,339 ✭✭✭✭[Deleted User]


    the_syco wrote: »
    ..............


    Bastid. Was doing kitchen work at a local restaurant at £2 back in '98!................

    The job before the DIY shop paid IR£15/day (with lunch from the chipper thrown in though :cool: )


  • Posts: 23,339 ✭✭✭✭[Deleted User]


    You see, option 4 is exactly the problem.
    How much will it cost if 100000 people default on their mortgage?
    Let's just assume the average mortgage is E200k.
    ..................
    ......................

    And 100000 people defaulting on their mortgage is, at the moment, the optimistic view.
    http://www.irishexaminer.com/ireland/kfqleymhsnid/rss2/


    Lots of folk bought well before the peak of 2005, lots of folks had Mummy and Daddy go guarantor, the potential default problem may or may not be as bad as you think it is. Given how pessimistic you always seem I'd be thinking it won't be as bad as you seem to think :)


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  • Registered Users Posts: 5,473 ✭✭✭creedp


    RoverJames wrote: »
    Lots of folk bought well before the peak of 2005, lots of folks had Mummy and Daddy go guarantor, the potential default problem may or may not be as bad as you think it is. Given how pessimistic you always seem I'd be thinking it won't be as bad as you seem to think :)


    I would have to agree with this. No doubt a lot of people are in negative equity at present but many of these have jobs are earn more that they did when the mortgage was taken out .. I have plenty e.g. of this in my circle of acquaintances. Sure why wouldn't you want to play the poor mouth and scream default if you though the Govt was going to bail you out as they have the captains of industry/entrepreneurs in the banking/developer industries. Personally I bought a house in 2003 and its now worth less than half what I paid for it. Even though I have had pay cuts luckily I can still pay the mortgate. I have to laugh/grimmace though when I hear that only those who bought between 2004 and 2008 should be 'bailed out'. What intellectual came up with that I wonder .. obviously vested interests in this case also.


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