Fuel is going to jump tomorrow night.

Bandara

Wholesale prices have increased about 3.5c a litre for both UNL and Derv, applicable from midnight wednesday.

You can expect to see prices swing back up to about an average around the 96c mark by Thursday.

For those that are interested - if you use a lot of fuel or are nearly empty fill up tomorrow if you see it anywhere around 92c or 93c mark.

samhail

nice one ! just filled up the tank too.

TouchingVirus

Gonna try fill it up tomorrow

testicle

As a matter of interest, why? Crude hasn't gone up.

bazz26

New it would not last. But I bought my derv for 89.9c a litre on Sunday.

congo_90

I shall fly down on my lunch tomorrow. I do heavy mileage so the difference does add up!

Captain Slow IRL

testicle wrote: »

As a matter of interest, why? Crude hasn't gone up.

+1

That's bullcrap:mad:

Zaph

Already gone up in the garage beside me. Two days ago it was 92.9, yesterday 94.9 and this evening when I came home 95.9.

mumhaabu

testicle wrote: »

As a matter of interest, why? Crude hasn't gone up.

Crude went over $50/barrel on Tuesday due to the Israeli-Gaza conflict and the Russian Gas Embargo. Wait until February when the depression grips hard and the gas is flowing again and the Israelis have quietened down, there will be renewed optimism on the markets after Obama is sworn in which will drive prices higher too, expect between €1 - €1.10 average for 2009. Plus you have the OPEC supply cut in effect now too, the Russians are filibustering as Oil revenues make up the backbone of their economy and they have collapsed by over 75%.

However before we start grumbling and blaming big oil remember Fianna Fail hit us with 8c/litre yet are happy to give billions to the corrupt banks to prop up Bertie's building buddies.

TheBazman

Crude is up 50% from the low before xmas

Cmar-Ireland

Was 91.9c in Newbridge for unl when I filled up yesterday.

greenman09

Im guessing this price increase will be passed on right away. No delays there then like when the price decreases. Cowboys the lot of them

L1011

greenman09 wrote: »

Im guessing this price increase will be passed on right away. No delays there then like when the price decreases. Cowboys the lot of them

Increases are passed on as soon as the more expensive stock is ordered/delivered

The more expensive existing stock has to be used up before decreases can be passed on.

Simple business economics, something people are incapable of understanding on here usually. Or in tabloid newspapers, on Joe Duffy, etc, etc...

maidhc

MYOB wrote: »

Increases are passed on as soon as the more expensive stock is ordered/delivered

The more expensive existing stock has to be used up before decreases can be passed on.

Simple business economics, something people are incapable of understanding on here usually. Or in tabloid newspapers, on Joe Duffy, etc, etc...

Well in fairness the point being made is the same as yours. It takes a long time for the price dop to filter through, but the increase comes immediately, e.g. long before the more expensive crude is flowing into your fuel tank. Now I can understand why that happens (and lets face it, it has a lot to do with margins), but it annoys people.

Cookie_Monster

You an thank the Israeli's for oil going back up, fear of supply interuption in the region is driving prices up, currently $48.45 up from a low of around $32 at Christmas.

I wonder will it go up quicker or slower than it came down:rolleyes:

Freddie Cork

Why do people run out & fill up when they hear the price is going up 2c or something? You're saving about €1 on a full tank, FFS! Are you really that poor?

mike65

Yes! There's a recession on! A penny saved is a penny earned etc.

Cookie_Monster

Freddie Cork wrote: »

Why do people run out & fill up when they hear the price is going up 2c or something? You're saving about €1 on a full tank, FFS! Are you really that poor?

But who's to say it won't end up going all the way back up to €1.25 say....

Unlikely this time but could easily happen if Russia decided to invade somewhere tomorrow or a refinery went off line etc etc

Freddie Cork

Cookie_Monster wrote: »

But who's to say it won't end up going all the way back up to €1.25 say....

"What if"? It's not likely though. You're just overreacting. By that logic, then why not fill up some barrels & store them in your garden "just in case"?
And even if it does shoot up by your extreme example (30c+, which it won't in just 1 day), you've only filled up about half a tank assuming your tank wasn't completely empty when you heard (otherwise you're lucky), and you'll still have to pay the higher price next time anyway!

I just don't see the point in legging it to the petrol pumps, just to save around 50c (assuming not everyone can accommodate a full tank when this breaking news hits!).

Bandara

Freddie Cork wrote: »

"What if"? It's not likely though. You're just overreacting. By that logic, then why not fill up some barrels & store them in your garden "just in case"?
And even if it does shoot up by your extreme example (30c+, which it won't in just 1 day), you've only filled up about half a tank assuming your tank wasn't completely empty when you heard (otherwise you're lucky), and you'll still have to pay the higher price next time anyway!

I just don't see the point in legging it to the petrol pumps, just to save around 50c (assuming not everyone can accommodate a full tank when this breaking news hits!).

As I said in my original post....

"For those that are interested - if you use a lot of fuel or are nearly empty fill up tomorrow if you see it anywhere around 92c or 93c mark."

If your not interested then fine, a lot of people here do a lot of driving, if your a truck driver or a courier who does 300+ miles a day your saving is going to be substancially more than €1.

Damned if you do and damned if you don't, and for the record its an increase of approximately 3.5c, you then need to add the vat which brings it to close to 5c a litre, most car accept about 55 litres which is a saving of close to €3 a fill.

People moan and complain when their local garage is 2c dearer than some other garage and now your complaining that a 5 cents saving is not worthwhile.

If your not interested then good luck to you, the majority of people are.

here.from.day.1

Will head down to applegreen at lunch, needs a fill so might aswell. Thanks OP.

Filled up at the Grange in Baldoyle last week for €40, I was so surprised considering it was nearly €80 for me not to long ago!

Heroditas

Cookie_Monster wrote: »

You an thank the Israeli's for oil going back up, fear of supply interuption in the region is driving prices up, currently $48.45 up from a low of around $32 at Christmas.

I wonder will it go up quicker or slower than it came down:rolleyes:

This is only a small factor in the driving up of crude oil prices. Unfortunately you hear supposed economic experts on the TV and radio spouting nonsense such as "Nigerian pipelines targeted by terrorists will push the price of crude up by 10c". Utter nonsense.
Demand for oil has dropped by a couple of % and OPEC has countered this by reducing production - this stops the purchasers stockpiling.
Speculators had driven the oil price to ridiculous leves and we saw the "true value" of crude just before Christmas after all the speculators had left the market and stockpiles grew.
Speculators are getting a bit cheeky again and the amount of oil trading has doubled in the last few weeks from about 20m trades to approximately 50m trades. Now if the world economy is in such a bad state and factories are closing/ramping down production .... could the alleged expert economists explain why the amount of oil trading is INCREASING when demand is decreasing? :rolleyes:

Pure and utter speculation in the market.


Anyway, back to petrol prices - lashed 65L into the car yesterday - filled it to capacity - cost me €59.74 - cost me €71 back in November and a butt-clenching €77.94 back in September!!!!!
I go through a full tank in just over a week so the savings are considerable for me at the moment! :eek:

Freddie Cork

Hammertime wrote: »

As I said in my original post....

"For those that are interested - if you use a lot of fuel or are nearly empty fill up tomorrow if you see it anywhere around 92c or 93c mark."

If your not interested then fine, a lot of people here do a lot of driving, if your a truck driver or a courier who does 300+ miles a day your saving is going to be substancially more than €1.

Damned if you do and damned if you don't, and for the record its an increase of approximately 3.5c, you then need to add the vat which brings it to close to 5c a litre, most car accept about 55 litres which is a saving of close to €3 a fill.

People moan and complain when their local garage is 2c dearer than some other garage and now your complaining that a 5 cents saving is not worthwhile.

If your not interested then good luck to you, the majority of people are.

Mate, I wasn't having a go at you at all. I just said I don't understand average car owners (mainly people who reply saying "cool - will fill up ASAP!!!1") legging it down to fill up & save about €1 on an average sized tank, which likely isn't even empty. I would rather NOT make an unnecessary trip down to the garage, and save myself €1 in hassle.

Cookie_Monster

Freddie Cork wrote: »

Mate, I wasn't having a go at you at all. I just said I don't understand average car owners (mainly people who reply saying "cool - will fill up ASAP!!!1") legging it down to fill up & save about €1 on an average sized tank, which likely isn't even empty. I would rather NOT make an unnecessary trip down to the garage, and save myself €1 in hassle.

Its aimed at those who may need to fill up and can do it today/tomorrow/friday or whenever. Just letting them know they would be better off doing it today.

Its always nice to know what coming too...

Cmar-Ireland

I wouldn't make an unnecessary trip to fill up. But I pass several filling stations everyday and if knew the price is going to rise in the next day or so, then I would certainly fill up at the lower price.

If you saw a euro on the ground, would you pick it up?

Cookie_Monster

Heroditas wrote: »

Pure and utter speculation in the market.

I really think this should not be allowed. Oil and gas are too important a resource for the world as a whole to allow such ridiculous speculation to drive prices like this.

The only people who lose out are the average man on the street who bares the cost of lining the speculators wallets just to get to work and heat his home:mad:

Heroditas

Cookie_Monster wrote: »

I really think this should not be allowed. Oil and gas are too important a resource for the world as a whole to allow such ridiculous speculation to drive prices like this.

The only people who lose out are the average man on the street who bares the cost of lining the speculators wallets just to get to work and heat his home:mad:

The UK Govt have launched an investigation into this aspect of trading:

http://www.ft.com/cms/s/0/ce148ea0-cd6e-11dd-9905-000077b07658.html

Freddie Cork

Cmar-Ireland wrote: »

If you saw a euro on the ground, would you pick it up?

Yeah - but how is that relevant? You're not comparing like with like. I could just bend down & pick it up - takes 1 second & is no hassle: not get in my car, drive to a petrol station, fill 'er up, go in & pay, drive home, etc.... I wouldn't do that to save €1!
Find a better analogy, mate.

testicle

TheBazman wrote: »

Crude is up 50% from the low before xmas

It is???

Bandara

quick update, looks like increase could be as much as 7cents.

Voodoomelon

Ah balls, source?

L1011

Voodoomelon wrote: »

Ah balls, source?

Hammertime owns petrol stations, he's a reliable source on this.

Bluetonic

testicle wrote: »

It is???

Your graph ends last year and doesn't show any of this years gains.

Low mid December was around $37, today trading at $51.

Approx 40% rise on mid December prices.

Graph up to yesterday below

ninty9er

Off to fill up now!!

A Primal Nut

Freddie Cork wrote: »

Yeah - but how is that relevant? You're not comparing like with like. I could just bend down & pick it up - takes 1 second & is no hassle: not get in my car, drive to a petrol station, fill 'er up, go in & pay, drive home, etc.... I wouldn't do that to save €1!
Find a better analogy, mate.

Lol, it would probably cost more fuel to turn on the car and drive to the petrol station that what would you save in financial terms. If your out and about in your car then fair enough, fill up, but all these people rushing out of their house/workplace to fill up is a bit over-top.

SV

Filled up the tank for 91cent/litre.

that'll do

TheBazman

Bluetonic wrote: »

Your graph ends last year and doesn't show any of this years gains.

Low mid December was around $37, today trading at $51.

Approx 40% rise on mid December prices.

Graph up to yesterday below

+1 at the time of writing Crude was trading at around $48

Anyway the good news is there has just been very strong inventory numbers and oil is trading back below $45. Hopefully a middle east cease fire could see us back in the 30's

Bluetonic

@ TheBazman, great graph.

Fair bit of volume after the cease fire was announced, poor old speculators getting rid by the looks of it

Cmar-Ireland

Freddie Cork wrote: »

Yeah - but how is that relevant? You're not comparing like with like. I could just bend down & pick it up - takes 1 second & is no hassle: not get in my car, drive to a petrol station, fill 'er up, go in & pay, drive home, etc.... I wouldn't do that to save €1!
Find a better analogy, mate.

If you read my post correctly you would see that I said I wouldn't go out just to fill up, but if I'm passing a station on my way I would.
Foolish not to IMO.

old boy

never saw it below 98.6 in my neck of the woods, so it will be over the euro at the weekend.

carrick

diesel 87.9 up to 91.9 in esso station carrick on suir cheapest ive seen it in a long time over christmas

ninty9er

Petrol is now cheaper (until midnight) than E85!

Voodoomelon

I've about half a tank so I think i'll give it a miss to save that extra euro or two. My local is 94.9 so will be interesting to see what it will be tomorrow.

L1011

Local Esso has added 2c to diesel / 1c to petrol since this morning; be interesting to see what if anything else they add.

Scottie99

Cheers for that. Just filled up at the Navan to Slane Topaz, Diesel 90.9c