Petrol Prices on the increase again why???

kluivert

They are creeping up again but why?

I thought oil production was back in full swing again across the global, I may stand corrected on that but otherwise there is no reason as there is no shortage or is it that production is being overwhelmed by demand from China.

Maybe if China started drilling they could use some of there own.

Is there a recommended RRP for do petrol stations decide the price. I think its a joke, read the business post yesterday saying that tesco only make a 1-2% profit.......on what, per litre. 40 litres per car 40% profit.

Anyone know anythign about the fuel industry. The price of a barrel of oil was not as much as what it was last October - November but petrol prices where 118.9 and now they are 112 (Dundalk).

dts

They were getting worried it might drop below a euro so thought they better sart putting the prices back up. Its still much cheeper than the UK though! Its about the only thing that is.

smashey

kluivert wrote:

Anyone know anythign about the fuel industry. The price of a barrel of oil was not as much as what it was last October - November but petrol prices where 118.9 and now they are 112 (Dundalk).

Greed. Why is it that when the price of a barrel of crude oil increases, the price at the pumps increases also? Bear in mind that this is crude oil and will take a few weeks (at least) to get refined and distributed. Surely the fuel already in the forecourts would have been purchased at an agreed rate and this should not be increased because of jittery markets or wimpish traders. What profits did Shell and BP post for last year???? Greed, greed, greed greed greed.:mad:

Anan1

kluivert wrote:

I think its a joke, read the business post yesterday saying that tesco only make a 1-2% profit.......on what, per litre. 40 litres per car 40% profit.

What kind of maths is this?

blastman

kluivert wrote:

Is there a recommended RRP for do petrol stations decide the price. I think its a joke, read the business post yesterday saying that tesco only make a 1-2% profit.......on what, per litre. 40 litres per car 40% profit.

You what now?

Mayshine

kluivert wrote:

Is there a recommended RRP for do petrol stations decide the price. I think its a joke, read the business post yesterday saying that tesco only make a 1-2% profit.......on what, per litre. 40 litres per car 40% profit.

You don't happen to have Enron on your CV by any change

miju

2 months ago the price in my local garage was €1.01 last month it was €1.06 now it's at €1.09

i know that's pretty much the cheapest about but still ****ing crazy jumps, course the thing is (as much as it pains me to say it) Mary Harney was right when she was talking about fuel prices a good while back

if somewhere is too expensive then go somewhere else, it actually did happen in my garage and low and behold one of the cheapest prices in ireland now, i know i've seen plenty of garages with approx €1.15 per litre and i just sail on by not even contemplating going in while 5 mins down the road there's a much cheaper alternative

i mean ok your only saving a few euro but over the course of a year it really starts to add up

lomb

I think your calculations are deeply flawed, petrol stations make peanuts on a liter of fuel or on a tank .
the price of crude is in dollars, and the dollar i believe has strengthened agaist the euro, hence why prices are up, easy:rolleyes:

Our man in Havana

Be lucky you ain't in Austria when I paid 113.9 for 95 unleaded at the weekend. 91 unleaded was 108.9. What the hell is 91 unleaded used in?

Anan1

Petrol here is pretty cheap by European standards. I was in Hamburg at the weekend - €1.20/l for 95 octane.

Stephen

kluivert wrote:

Is there a recommended RRP for do petrol stations decide the price. I think its a joke, read the business post yesterday saying that tesco only make a 1-2% profit.......on what, per litre. 40 litres per car 40% profit.

Didn't you post elsewhere on boards before that you're an accountant? :eek:

crosstownk

The price is creeping up because the consumption of oil is increasing while the discovery of new oil fields is diminishing. We are approaching 'Peak Oil'

kluivert

Stephen wrote:

Didn't you post elsewhere on boards before that you're an accountant? :eek:

The next time I post something like that I am going to put a smily beside it.

Ill explain the reason for the 40% (which was meant to be a joke ok, so relax )

There is a petrol station in Carrickmacross in Monaghan, the owners are a nice crown but there petrol is always more expensive anyone in the area. They are doing a great trade because there is a new bypass for Carrick and there station is right beside of the exits.

Now if they are not making a good GP, then they must have funded there new cars by other means. New M3, new BMW 3 Series, and a new VW Toureg.

Please theres no profits at the pumps. There is certainly no doubt about any going concern with this businesss. Because a business has a low GP doesnt neccessarily mean that its not profitable.

Business strategy can be broken down into two simple areas - cost leadership and premium products. Petrol is a low cost leadership where these businesses depend on volume rather than quality to ensure profits.

Trying to get a look at the financial statements of Statoil but there link is not working, be nice to see what there GP is for Ireland compared to other group countries.

blastman

It took €43 to fill the tank last night, the most I've ever had to spend (it was pretty empty!)

BrianD3

Yes it had been creeping up for a while but seems to have levelled off in the last month. The days of petrol costing <1 euro a litre are surely over now anyway.

On the upside I'm driving my brother's Megane this week (old model saloon 1.4 16v petrol) and am getting 51 mpg average without even trying to drive economically.

Clinical Waste

Fortune Global500 Top 12

Rank Company Revenues ($ millions) Profits ($ millions)
1 Wal-Mart Stores 287,989.0 10,267.0
2 BP 285,059.0 15,371.0
3 Exxon Mobil 270,772.0 25,330.0
4 Royal Dutch/Shell Group 268,690.0 18,183.0
5 General Motors 193,517.0 2,805.0
6 DaimlerChrysler 176,687.5 3,067.1
7 Toyota Motor 172,616.3 10,898.2
8 Ford Motor 172,233.0 3,487.0
9 General Electric 152,866.0 16,819.0
10 Total 152,609.5 11,955.0
11 ChevronTexaco 147,967.0 13,328.0
12 ConocoPhillips 121,663.0 8,129.0
13 AXA 121,606.3 3,133.0
14 Allianz 118,937.2 2,735.0
15 Volkswagen 110,648.7 842.0


(And still petrol and Insurance are so high!!

Litcagral

blastman wrote:

It took €43 to fill the tank last night, the most I've ever had to spend (it was pretty empty!)

Was that in a motorbike blastman? I put €80 diesel in my car this morning!

Hobbes

There is a report in the news that OPEC want to try and lock the base level of Oil to $50 a barrell. This way it increases oil reserves.

kluivert

So who sets the forecourt prices then.

Is it the distributors.
The Retailers
The Oil companies.

ciarsd

kluivert wrote:

So who sets the forecourt prices then.

Is it the distributors.
The Retailers
The Oil companies.

All of the above have some part to play in it, but the government and the taxes they attach to each litre of fuel is extraordinary :eek: