EuroPetrol

desiredbard

Ever thought about this?
Why is nobody asking questions?

In 2000, eight years ago we got $1 for €1.20
back then a barrel of oil cost $60, so €72,
and we paid around €0,80 /L at the pump

In 2008, in the middle of April we get $1 for <$0.64
The oil cost now $110 a barrel but lo and behold thats only €69,
however we pay €1.19 /L at the pump

So just to spell it out:
Even though a barrel of crude oil is 4% cheaper ,
the price at the pump has gone up by 50%


Somebody is lining his pocket, it has to be.

And I do not want to think what is going to happen if the US$ regains some of its strength.

craichoe

desiredbard wrote: »

Ever thought about this?
Why is nobody asking questions?

In 2000, eight years ago we got $1 for €1.20
back then a barrel of oil cost $60, so €72,
and we paid around €0,80 /L at the pump

In 2008, in the middle of April we get $1 for <$0.64
The oil cost now $110 a barrel but lo and behold thats only €69,
however we pay €1.19 /L at the pump

So just to spell it out:
Even though a barrel of crude oil is 4% cheaper ,
the price at the pump has gone up by 50%


Somebody is lining his pocket, it has to be.

And I do not want to think what is going to happen if the US$ regains some of its strength.

No where even near as simple as that ... i work for an energy trading company its 117 dollars per barrel and reuters is predicting an upwards trend.

Exchange rates, Government legislation and taxation, trade embargos and company takeovers .. there LOTS of other factors. Your not being ripped off, its just the price at the pump doesn necessarily reflect the oil price.

For instance, if one of Shell refineries goes out of service in Nigeria, then the Petrol price jumps even though the crude price stays the same.

Petrol is actually quite cheap in Ireland compared to the rest of europe (1.47 a litre here in the Netherlands) But it will get more and more expensive.

desiredbard

craichoe wrote: »

No where even near as simple as that ... i work for an energy trading company its 117 dollars per barrel and reuters is predicting an upwards trend.

Exchange rates, Government legislation and taxation, trade embargos and company takeovers .. there LOTS of other factors. Your not being ripped off, its just the price at the pump doesn necessarily reflect the oil price.

For instance, if one of Shell refineries goes out of service in Nigeria, then the Petrol price jumps even though the crude price stays the same.

Petrol is actually quite cheap in Ireland compared to the rest of europe (1.47 a litre here in the Netherlands) But it will get more and more expensive.

Even depends on which pump you go there
And yes I have a table here (2years old) stating ireland is the 2nd cheapest in Europ.

BUT

Once that shell refinery comes back online...the price does not come down. (OK Irish prices fluctuate a little bit but germany and holland do not)
And appart from that Shell is not the only one with refineries, and it would be pure coincidence that towards every shell outage there is a lets say texaco outage as well.

Wages might have increased etc etc...however this does not explain why
If the pirce a barrel goes up the price at the pump goes up evventhough the dollar at that point devaluates towards the euro.

Cause there is no taxation change , takeover, and embargo change everytime georgieboy has the sniffles.

Dont even get me started that the only time I can remember that petrol prices went down was when Saddam H sold his barrels in responce to US threads in €'s.

Its nowhere near as complicated as you make it out to be either

craichoe

desiredbard wrote: »

Even depends on which pump you go there
And yes I have a table here (2years old) stating ireland is the 2nd cheapest in Europ.

BUT

Once that shell refinery comes back online...the price does not come down. (OK Irish prices fluctuate a little bit but germany and holland do not)
And appart from that Shell is not the only one with refineries, and it would be pure coincidence that towards every shell outage there is a lets say texaco outage as well.

Wages might have increased etc etc...however this does not explain why
If the pirce a barrel goes up the price at the pump goes up evventhough the dollar at that point devaluates towards the euro.

Cause there is no taxation change , takeover, and embargo change everytime georgieboy has the sniffles.

Dont even get me started that the only time I can remember that petrol prices went down was when Saddam H sold his barrels in responce to US threads in €'s.

Its nowhere near as complicated as you make it out to be either

Yes it is .. its how energy traders make money !
For instance, did you know the price of gas is affected by the price of oil ? Simply because Traders hedge their gas trading with oil. When purchasing energy, they have different currencies to trade in, dollars, euros, sterling.
The price of petrol at the pump is related to the price of crude, but ultimately its how the oil is traded which sets the price you pay.

Sorry mate, it is quite complicated and its not a case of, Tanker dumps barrell into petrol machine, petrol comes out. The price of oil affects the whole economy, not just what you pay at the pump.

whippet

also different type of end product have different refining costs and of course there is the whole supply & demand of economics.

Also not all oil that is taken from the ground is suitable for all grades of use.

mcaul

desiredbard wrote: »

In 2000, eight years ago we got $1 for €1.20
back then a barrel of oil cost $60, so €72,
and we paid around €0,80 /L at the pump

In 2008, in the middle of April we get $1 for <$0.64
The oil cost now $110 a barrel but lo and behold thats only €69,
however we pay €1.19 /L at the pump

In 2000 the average price for barrel of oil was $27.40
In 2000 the average rate per US Dollar was $1 for €1 in 1st half of 2000 & $1 for €0.90 in second half

http://www.ioga.com/Special/crudeoil_Hist.htm


So as per above calcs. Oil in 2000 was €30 per barrel, Oil in 2007 is €75 per barrell. So using your calcs the petrol price should be €2 per litre. However, refining cost stay similar, gov. duty costs stay similar, delivery costs stay similar, retail profit per litre stays similar.

Real cost of petrol / diesel is currently approx 60c per litre + above costs.

At 1.21 per litre, (curent price) 21c is VAT, 5c is retailer profit and 30c is Duty & delivery costs.

Kess73

mcaul wrote: »

In 2000 the average price for barrel of oil was $27.40
In 2000 the average rate per US Dollar was $1 for €1 in 1st half of 2000 & $1 for €0.90 in second half

http://www.ioga.com/Special/crudeoil_Hist.htm


So as per above calcs. Oil in 2000 was €30 per barrel, Oil in 2007 is €75 per barrell. So using your calcs the petrol price should be €2 per litre. However, refining cost stay similar, gov. duty costs stay similar, delivery costs stay similar, retail profit per litre stays similar.

Real cost of petrol / diesel is currently approx 60c per litre + above costs.

At 1.21 per litre, (curent price) 21c is VAT, 5c is retailer profit and 30c is Duty & delivery costs.

60c per litre + 21c VAT + 5c retailer profit + 30c Duty & delivery costs = €1.16 per litre not 1.21, so there is still another 5c per litre going somehwere else going by your calculations.

axer

desiredbard wrote: »

(OK Irish prices fluctuate a little bit but germany and holland do not)

I pay €1.42 ish for petrol where I am in Germany. They do fluctuate here. A while back the price was in the €1.30's range but now most places are €1.40's. If you take into account the wages difference between Ireland and Germany then the Germans are really paying about €1.70/€1.80+ per litre.

mcaul

Kess73 wrote: »

60c per litre + 21c VAT + 5c retailer profit + 30c Duty & delivery costs = €1.16 per litre not 1.21, so there is still another 5c per litre going somehwere else going by your calculations.

My costs are just a guestimate.

The net cost is probably around 65c.

The only costs that go up / down is this & the related vat.

Years ago a friend of mine operated a petrol station and they got more profit from a sandwich & bottle of coke than someone filling a tank with petrol!

dudara

craichoe wrote: »

Yes it is .. its how energy traders make money !
For instance, did you know the price of gas is affected by the price of oil ? Simply because Traders hedge their gas trading with oil. When purchasing energy, they have different currencies to trade in, dollars, euros, sterling.
The price of petrol at the pump is related to the price of crude, but ultimately its how the oil is traded which sets the price you pay.

Sorry mate, it is quite complicated and its not a case of, Tanker dumps barrell into petrol machine, petrol comes out. The price of oil affects the whole economy, not just what you pay at the pump.

craichoe is quite right here. There is a whole industry geared towards making money from commodity trades. The traders don't care what they are dealing and hedging, they are there to make a profit when trading. Unfortunately, all this affects the end consumer.

shayser

Perhaps only vaguely relevant, but why is it that the price of super unleaded here is 30c p/l more expensive here while where I was in France it was the same price or just 1c more expensive?

mcaul

shayser wrote: »

Perhaps only vaguely relevant, but why is it that the price of super unleaded here is 30c p/l more expensive here while where I was in France it was the same price or just 1c more expensive?

Its rarely found these days, but a higher duty was applied to super plun unleaded a few years back to get us all onto standard unleaded.

Super plus is of no benefit to your car unless it is a high performance car.

shayser

I wonder what the reason is to restrict the sale of super. Emissions? Wouldn't France or other countries have the same concerns, whatever they are?

axer

desiredbard wrote: »

(OK Irish prices fluctuate a little bit but germany and holland do not)

I posted that the Germany prices were 143.9 a week or so ago. They are now going up to 149.x.:eek:

pow wow

e1.40 in NI