buying a petrol car now...

Bulmers

Just been reading all the threads about new VRT rules etc and how the market will be affected, diesels will get cheaper, and petrol more expensive but i terms of 2nd hand motors, would this mean that say you bout a good sozed petrol engine now ( 2.0 turbo ) these will obviously be very expensive to tax under new laws but would the old ones on the older rates hold their value better so as they wouldn't be affected, also with diesel being more popular now, it will probably remain more expensive than diesel, petrol might be cheaper?

NinjaTruncs

The number of people in ireland changing form Petrol to Diesel, isn't going to have any effect on petrol prices, OPEC determine the value of a barrel of crude and that directly effects the cost of petrol/diesel.
Both fuels are going to shoot up over the next year as the price of crude gets closer to OPEC' predicted $200 a barrel mark.

The Gambler 101

heard people saying diesel will probably reach €2 a litre by the end of year, if so will petrol follow suite?

NinjaTruncs

It's hard to know exactly what prices will be but it oil does reach 200 a barrel ubt you can guess petrol will be pretty close to 2 euro a litre

NinjaTruncs

Edit... posted into the wrong thread

tw0nk

NinjaTruncs wrote: »

I'm only having a Best man, but i intend to buy him a good bottle of whiskey.

For the guys who have already gotten married, when did you present the gift, was it during the reception or before/after the day?

LOL! wrong forum posting is great, dont worrk NinjaTruncs, has happened to me before too

NinjaTruncs

Yeah no sooner had i hit post and i realsied it was ment for the other window i had open, that's what i get for multi-threading.

On an eerie note, I've just gotten a weird sense of deja vu for this.

Bulmers

suppose what i'm thinking is that due to petrol cars becoming more expensive with the new vrt rules, increased tax etc, if someone really wanted a petrol car in 2/3 yrs time, would a pre july 08 one be more attractive, meaning the 2nd hand value on petrols wont change too much, compared to diesels which are going to drop in price..suppose what i'm saying is that it might be better to buy 2nd hand petrol car instead of diesel as diesel market is going to get devalued.

E92

The Gambler 101 wrote: »

heard people saying diesel will probably reach €2 a litre by the end of year, if so will petrol follow suite?

petrol is going up, but diesel is going up by more. I wouldn't rule out anything at this stage.

Petrol is 9% dearer than this time last year, while diesel is 15% dearer, and that's a trend that will continue for the forseeable future. And when we all start buying diesels after July, the Government will not be keen to make driving cars that are between 20 and 30% more efficient too attractive, because they'll be losing more money...

When the dollar picks up we are going to be in serious trouble...

NinjaTruncs

E92, if the dollar picks up the price should come down, one of the reasons why the price of crude has gone up is because the dollar has fallen so much. Some people think if the Oil had of been traded in Euro the price would not have gone up so much.

astrofool

Dollar/oil price has tracked almost 1:1 over the last 9 months or so (with blips in between), it's only in the last couple of weeks that the dollar has been more steady, but oil has gone up a little, however, looking at the rates today, the dollar is dropping once more.

E92

NinjaTruncs wrote: »

E92, if the dollar picks up the price should come down, one of the reasons why the price of crude has gone up is because the dollar has fallen so much. Some people think if the Oil had of been traded in Euro the price would not have gone up so much.

Forgive my ignorance, but my understanding was that the weak dollar was the reason behind why we haven't seen the worst of the fuel price hikes?

NinjaTruncs

No, it's actually the oposite. since crude is sold by the dollar, when the dollor gets weak the Arabs get less for their barrel of oil so they put the price of a barrel up. If the dollar gets stronger, the arabs will get better value for each barrel of oil and thus can drop the price.

Esel

But... the price rises are being caused by speculation, no? Not the producers (or 'Arabs' as you call them!).

NinjaTruncs

OPEC are the people who control the price of a barrel as they control the amount of oil that gets produced each day. the speculation is just the stock market gambling on how much supply will be available and thus what they think the price will be. The markets really control the price. If OPEC decided to produce twice as much oil tomorrow the price would come down, it they reduced the supply by half the price would shoot up.

Also world oil supplies are running out, so it's in OPEC interest to get as much as possible for the oil for their dwindling reserves. Also it is no surprise that the oil companys are posting record profits as the cost of oil goes up so it's in their interest to see high prices too.