Oil gone over $120, Fuel Prices to follow quickly

Hogzy

Just a warning to everyone. Oil prices could be sky rocketing in the next few weeks. Brent Crude was at $119 at one point today and some analysts are expecting it to double in the next few weeks if things in the middle east dont settle down. An increase that big is unlikely to happen in the next few weeks but there will be increases none the less.

I would highly advise you to fill the car up ASAP. If you are a heavy driver then god help you

CiniO

Oil used to cost over $150 in 2008, and prices on petrol stations for petrol was about 133 cents max.

johnos1984

CiniO wrote: »

Oil used to cost over $150 in 2008, and prices on petrol stations for petrol was about 133 cents max.

This is great news for the economy. The gov needs all the extra taxes it can get :mad:

Hogzy

CiniO wrote: »

Oil used to cost over $150 in 2008, and prices on petrol stations for petrol was about 133 cents max.

Yes but fuel has had its duties increased massively since then so a nominal increase in the prices of oil will be huge at the pumps. Search the forum. There are loads of threads on it.

Padraig Mor

That's funny - when oil prices drop it "takes six months" to see it at the pumps. Yet when oil goes up, the pumps ain't long following. Who'd have thought it?!

Padraig Mor

Hogzy wrote: »

Yes but fuel has had its duties increased massively since then so a nominal increase in the prices of oil will be huge at the pumps. Search the forum. There are loads of threads on it.

Fuel taxes have gone, but hardly massively.

mickydoomsux

Yeah, the Green's middle-class guilt carbon tax is what's causing the spiraling fuel costs in this country. They need to be reversed.

Our economy is in the start of a recovery, we have no time for idealism. We need to get competitive.

Hogzy

mickydoomsux wrote: »

Yeah, the Green's middle-class guilt carbon tax is what's causing the spiraling fuel costs in this country. They need to be reversed.

Our economy is in the start of a recovery, we have no time for idealism. We need to get competitive.

The problem is if you reduce the fuel tax you will have to raise some other tax. At the end of the day the country has a HUGE budget deficit. Lowering taxes is not an option. We will just end up paying it somewhere else

n900guy

CiniO wrote: »

Oil used to cost over $150 in 2008, and prices on petrol stations for petrol was about 133 cents max.

Expect typical prices to be around €1.80/litre and occasionally €2 litre - the new "psychological barrier".

wilson10

Time for a cruise missile or two into Gadaffi's palace.

johnos1984

wilson10 wrote: »

Time for a cruise missile or two into Gadaffi's palace.

Its China you want to aim that at as they are buying up so much oil and can afford to drive the price up

Seems like I'll be giving the cruise control a break and sticking to 100km/h on the motorway again.

Fun times

n900guy

n900guy wrote: »

Expect typical prices to be around €1.80/litre and occasionally €2 litre - the new "psychological barrier".

when can we expect this ?

Hogzy

johnos1984 wrote: »

Its China you want to aim that at as they are buying up so much oil and can afford to drive the price up

Seems like I'll be giving the cruise control a break and sticking to 100km/h on the motorway again.

Fun times

Cruise control is what you want. It gives you a better average of your speed therefore your fuel consumption will average out and result in better MPG.

I dont understand why people think using cruise control can make you use more fuel?

RoverJames wrote: »

when can we expect this ?

Oil went up by $20 a barrel today. If the same thing happens tomorrow then VERY soon

CiniO

n900guy wrote: »

Expect typical prices to be around €1.80/litre and occasionally €2 litre - the new "psychological barrier".

Oil price is just a tiny part of price of petrol.
So even 100% rise in price of oil, wouldn't make too much difference in price of petrol.

johnos1984

Hogzy wrote: »

Cruise control is what you want. It gives you a better average of your speed therefore your fuel consumption will average out and result in better MPG.

I dont understand why people think using cruise control can make you use more fuel?

Oil went up by $20 a barrel today. If the same thing happens tomorrow then VERY soon

I've found it does once its averaged out due to the fact that motorways in Ireland aren't level and straight. I've found if I use it it costs me about 3-4mpg over the course of a tank than if I just use my right foot.

I've been happy with it as a comfort option though

Cruise control won't react to gradientp until the car meets them.

johnos1984

RoverJames wrote: »

Cruise control won't react to gradientp until the car meets them.

Aye but its a pain switching it on and off the whole time and I find the M7 has hills around every corner for some reason.

I have found my mpg better if I'm in control. If people find CC better than I'm glad for them. I'm still happy to use it but not if prices start increasing rapidly and not coming down again due to "the slow trickle down effect" which the fuel retailers always speak about

Hogzy

Yes cruise control would use more fuel going uphill because it maintains the same speed. But if you dont accelerate going up the hill you will slow down, so then you have to speed up again once you have reached the top of the hill. In order to do this you have to use more fuel.

Going down a hill the cruise control will maintain the speed therefore using less fuel where as the human might continue having the peddle at the same pressure therebye using more fuel than the cruise control and going over the limit.

If you use cruise control doing 120kph from Cork to Dublin and use your right foot doing the same speed on the same road then you use the exact same fuel (bar the minuscule amount of energy the CPU needs to do the calculations for cruise control)

johnos1984

Hogzy wrote: »

Going down a hill the cruise control will maintain the speed therefore using less fuel where as the human might continue having the peddle at the same pressure therebye using more fuel than the cruise control and going over the limit.

Thats for those who can't drive with economy in mind

Oh my. Hogsy, in advance of a gentle incline a gentle increase in throttle is more efficient them allowing the cruise control to react to the incline, as John has noticed it does make a decent difference to mpg.

And going downhill only a numpty won't ease off the throttle as appropriate.

johnos1984

RoverJames wrote: »

Oh my. Hogsy, in advance of a gentle incline a gentle increase in throttle is more efficient them allowing the cruise control to react to the incline, as John has noticed it does make a decent difference to mpg.

I find in the Passat the ECU seems to increase the amount of fuel for going up hill being used by the engine quiet dramatically.

As James says if you just gently apply more pressure yourself you can get the balance better.

Its all about being smooth and reacting in time to everything going on around you and then the MPG improves a lot.

Boring as hell, I prefer to use the CC over a long journey but if prices keep rising I'll have to rethink that

Hogzy

I am driving to Dublin this Sunday so i might give the aul cruise control a skip this time round and see how i do. Ill Have a full tank going, no CC on the way up and ill CC on the way back.

Ill see how i get on. Ill refill in Dublin and refill again when back in Cork and ill see how i do.

wandatowell

rich B@stards and our cruise control

Hate driving without it.

Good idea, don't weld your foot to the carpet to prove a point

johnos1984

wandatowell wrote: »

rich B@stards and our cruise control

Aye loans are great until you have to pay them back. I should of went bangernomics and gotten something fun

johnos1984

RoverJames wrote: »

Good idea, don't weld your foot to the carpet to prove a point

A point proven said "I got 24mpg but I always get 77mpg with the CC on"

Hogzy

I wont be cheating. I have a financial interest in seeing which is cheaper. Although if i use the pedal i might end up in Dublin a minute or two later than using the cruise control.

Unacceptable

dr.fuzzenstein

Padraig Mor wrote: »

That's funny - when oil prices drop it "takes six months" to see it at the pumps. Yet when oil goes up, the pumps ain't long following. Who'd have thought it?!

A friend of mine whose father works at a fuel depot told me that all the petrol stations put in massive orders whenever there's a rumour of oil going up so they can stock cheaply and put the price up at the pumps, making a double killing.
They then hold out as long as possible so they can purchase another huge order whenever prices have gone down, whilst keeping theirs up, making another double killing.
So all the people who tell you that it's not true that petrol stations make a killing that way are either morons or liars.

Hogzy

dr.fuzzenstein wrote: »

A friend of mine whose father works at a fuel depot told me that all the petrol stations put in massive orders whenever there's a rumour of oil going up so they can stock cheaply and put the price up at the pumps, making a double killing.
They then hold out as long as possible so they can purchase another huge order whenever prices have gone down, whilst keeping theirs up, making another double killing.
So all the people who tell you that it's not true that petrol stations make a killing that way are either morons or liars.

Well your friend whose father works at a fuel depot doesnt understand how fuel supplies work. If all the fuel stations were to order bulk amounts where would the store it? Most fuel stations only have enough storage for a days worth of fuel or two days depending on how busy the station is.
Its not as if your local Texaco down the road has a giant silo out the back. Fuel is delivered daily because they cannot store that much because it is used so fast.

And there simply isnt a large enough supply for all the stations in the country to buy a bulk order and store it for the coming months. Oil ships come in very frequently into Ireland, the oil is refined and then sold to the companies and then the garages straight away. They only have the amount that that will sell until the next ship arrives. No offense but your friends whose father works in a fuel depot doesnt know what he is talking about

johnos1984

Hogzy wrote: »

Well your friend whose father works at a fuel depot doesnt understand how fuel supplies work. If all the fuel stations were to order bulk amounts where would the store it? Most fuel stations only have enough storage for a days worth of fuel or two days depending on how busy the station is.
Its not as if your local Texaco down the road has a giant silo out the back. Fuel is delivered daily because they cannot store that much because it is used so fast.

They can bulk buy at any price for future delivery. One example of a company which does it is Ryanair

Hogzy

johnos1984 wrote: »

They can bulk buy at any price for future delivery. One example of a company which does it is Ryanair

True but finding someone to sell it for that price is the thing. Its all good when there is no threat of a civil war breaking out in Libya :P
Such a purchase would be easy enough to come by when 'the seas are calm', But no fuel supplier would do that when oil prices are guaranteed to go up by so much so soon. Its a risk the importer will loose out on so therefore wont take.

EDIT: For those who already have a contract in place that says they can have X amount of fuel over the next 2-3 months at X price are laughing. Im not too sure how long those contracts would be in practice though. They might be for a few months or a week. They cant be for that long because as we know the price of oil can go up or down in a heartbeat.

dr.fuzzenstein

Still goes up awfully fast doesn't it?
Rumours of oil prices going up at some time in the future and diesel was advertised at E1.40+ within literally minutes.

mickydoomsux

dr.fuzzenstein wrote: »

Still goes up awfully fast doesn't it?
Rumours of oil prices going up at some time in the future and diesel was advertised at E1.40+ within literally minutes.

That's half opportunism on the filling stations behalf and half the fact that they have to pay their suppliers for more expensive fuel with money made on previously cheaper fuel.

They're basically pre-emptively covering their costs. And people are right about it taking longer to go back down. Filling stations have an unwritten "agreement" of sorts to create a certain floor to prices because it suits all of their interests. They only really go back down when they start trying to undercut each other, it's not really a reaction to falling oil prices.

Hogzy

mickydoomsux wrote: »

They're basically pre-emptively covering their costs. And people are right about it taking longer to go back down. Filling stations have an unwritten "agreement" of sorts to create a certain floor to prices because it suits all of their interests. They only really go back down when they start trying to undercut each other, it's not really a reaction to falling oil prices.

You're 100% right. Its a huge problem in the UK because the supermarkets who sell fuel are keeping an eye on the fuel stations to see who lowers their price first and vice versa. In turn none of them are lowering their prices because they are waiting for the guy down the road to do same. At the end of the day EVERYONE looses because fuel prices are reflected in anything you buy off a shelf.

Absurdum

I'm starting to have nightmares about Nissan Leafs

Hogzy

Absurdum wrote: »

I'm starting to have nightmares about Nissan Leafs

I am starting to have nightmares about walking.... Oh the humanity

fabsoul

mickydoomsux wrote: »

Yeah, the Green's middle-class guilt carbon tax is what's causing the spiraling fuel costs in this country. They need to be reversed.

back to the green now!!!!! not that green

Hogzy

Hogzy wrote: »

Well your friend whose father works at a fuel depot doesnt understand how fuel supplies work. If all the fuel stations were to order bulk amounts where would the store it? Most fuel stations only have enough storage for a days worth of fuel or two days depending on how busy the station is.
Its not as if your local Texaco down the road has a giant silo out the back. Fuel is delivered daily because they cannot store that much because it is used so fast.

I worked in a very busy Texaco station when I was in college, the fuel was delivered once every 5 or 6 days iirc, and it was a busy station, there were two other stations under the same unbrella with similar delivery frequencies. For any folk who know Cork 'twas Texaco Firgrove, Glanmire and Carrigaline.

billyboy01

johnos1984 wrote: »

This is great news for the economy. The gov needs all the extra taxes it can get :mad:

Fuel price rises equals price rises in everything from a pint of milk to a brand new car!:eek:

So not that great!:(:mad:

johnos1984

billyboy01 wrote: »

Fuel price rises equals price rises in everything from a pint of milk to a brand new car!:eek:

So not that great!:(:mad:

It is when your tax is a proportion of the price

mickob16

For Sale:BMW 525-really good on juice(honestly):p

mantaraver

I've just bought a skyline as my daily driver that does 17.5 mpg :eek:....... GULP !!:(