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Petrol price trend wonderings......

  • 11-09-2009 8:43pm
    #1
    galwaytt
    Registered Users, Registered Users 2 Posts: 12,822 ✭✭✭✭


    ...been thinking that the price of the ol' go-juice is on the up again, with no sign of abating.

    What I don't get is this: when oil spiked at USD$140 or thereabouts a barrel, petrol hit about Eur€1.37 a litre.

    Now we have oil at USD$70 (half the price), but petrol is damn-near up towards the peak of the higher-oil-barrel-price........so, what gives?

    I'm not so disconnected I expect it to half, or anything, as Excise is a fixed amount, per litre, but the rest.............where the **** is it going/coming from ?

    And, seeing as we're at it - why isn't excise de-flating too - everything else had to, so why not that ? (rhetorical question..)

    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” 



Comments

  • #2
    Hal1
    Registered Users, Registered Users 2 Posts: 8,720 ✭✭✭Hal1


    Reports from pumps.ie suggested a fall in prices from september 3rd. Two weeks ago it was €1.17.09 now in my area it's down to €1.14.09. It would be nice if it dropped back to €1 per litre. :D


  • #3
    TestTransmission
    Registered Users, Registered Users 2 Posts: 19,106 ✭✭✭✭TestTransmission


    Hal1 wrote: »
    Reports from pumps.ie suggested a fall in prices from september 3rd. Two weeks ago it was €1.17.09 now in my area it's down to €1.14.09. It would be nice if it dropped back to €1 per litre. :D

    Wud be very nice


  • #4
    Zonda999
    Registered Users, Registered Users 2 Posts: 5,533 ✭✭✭Zonda999


    Unfortunately as optimism about a global economic recovery begins to take hold, oil will skyrocket in price! Wouldnt be surprised by with in a year to two years, it will have surpassed 147$/barrel again!:(


  • #5
    Hal1
    Registered Users, Registered Users 2 Posts: 8,720 ✭✭✭Hal1


    If it gets to that state, I'll be doing an LPG conversion. ;)


  • #6
    timmywex
    Registered Users, Registered Users 2 Posts: 2,626 ✭✭✭timmywex


    Price of the barrel is small in the whole thing.

    Comes down to refining costs/transport and exchange rate.

    And remember tax and excise!

    Since it was at a high (147barrel) it dropped but the government added the 8c a litre so price doesnt seem so low any more!


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  • #7
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    There was 5c a litre added at the last budget, I'd say another 5 cent in Decembers and then all you need is a little spike in demand and it will be back to $150 a barrel.


  • #8
    Bandara
    Registered Users, Registered Users 2 Posts: 3,282 ✭✭✭Bandara


    timmywex wrote: »
    Price of the barrel is small in the whole thing.

    Comes down to refining costs/transport and exchange rate.

    And remember tax and excise!

    Since it was at a high (147barrel) it dropped but the government added the 8c a litre so price doesnt seem so low any more!

    I'd go further and say the price of the barrell is almost irrelevant to the price of fuel.

    An average barrell of oil is trading close to 50 times before it finally reaches its end user destination. This is the biggest price adding aspect of the entire cycle


  • #9
    derry
    Banned (with Prison Access) Posts: 1,380 ✭✭✭derry


    Petrol prices in the USA will fall but in ROI green slime party will make the price go up with carbon tax

    The greens in europe are getting all the governments to sign up to some crazy idea CO2 gas will kill us all .The solution they propose is tax the knackers out of oil until we cant afford to to drive and forced to cycle in the poxxy rain .
    The averagedirectiomn for the price of oil in the USA is always downwards since 1918 when you factor in the inflation real costs.
    How does that work you figure
    The graph below shows it better .In 1916 it cost a few cents per gallon in the USA.However if it was with inflation factored in it made a gallon cost $3.50 a gallon in todays terms .Today the cost of a gallon of petrol is $3.08 2008 and dropping down to staghtline graph average of more like $2.25.
    The graph shows in real terms the price of petrol has generaly always dropped with the odd price spike .In the USA they pay non or very little petrol tax


    In ROI the majority the petrol is tax some 0.65 cents per liter is tax .This makes the price float between 1 euro to 1 .40 euro a liter .Even if petrol costs dropped to zero euros per liter the price we would still pay will be the fixed government 65 cents per liter.
    Expect with green slime rules that to increase every year until petrol costs 10 euros plus a liter on this save the planet by robbing us blind .
    graph here at this link but jpeg below same graph

    http://smartpei.typepad.com/.shared/image.html?/photos/uncategorized/2008/05/17/inflation_adjusted_gasoline_price.jpg



    Derry


  • #10
    Yakult
    Moderators, Computer Games Moderators Posts: 7,943 Mod ✭✭✭✭Yakult


    €1.12 now. And a new petrol station opened in town so some competition (Only one petrol station in listowel. Now have a MAD two and both are esso lol)


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