Petrol only €9.99 a litre

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=auto&tl=en&u=http%3A%2F%2Fwww.diariomotor.com%2F2011%2F04%2F29%2Fterapia-de-choque-en-una-gasolinera-alemana-el-litro-de-gasolina-a-999-e%2F

A petrol station in Germany had put up it's prices to €9.99 a litre over the Easter holiday. People still went in to buy. :eek:

Would you (could you) pay that much to keep on motoring!

I know I couldn't!

MagicMarker

I can't afford 1.50, literally. I'm probably going to start cycling to work in the next week or two because I just don't have the money.

Krusader

We are past peak oil, expect it to get dearer and dearer gradually over the years

Bigcheeze

Trying to read that crap translation is causing the hurt in my brain for sure.

mgmt

They raised the prices to the same crazy level at the petrol station on the quays (Dublin) a couple of years ago.

Uriel.

I have stopped driving to work now also because of the petrol costs. Take the bus now instead, thankfully I have that option. It costs me 18.50 a week on the bus, probably costs about 45-50euro if I was taking the car, so nice little saving. Also signed up to the DublinBikes scheme, which for €10 per annum is a pretty good option to use getting around Dublin City

Crosáidí

Crosáidí wrote: »

We are past peak oil, expect it to get dearer and dearer gradually over the years

Yep! no doubt about that. Plus the fact that everytime someone is priced out of filling up the car, Chindia buys that "spare" oil.

Terry

Here Trilly Trilly Trilly.

Bertie flogged a crap load of dinosaur excrement to Shell, but apparently there's still a Trillion dollars worth of gas and oil off the West coast.

Inda will probably do the same, even though we can manage it ourselves (for the most part).

Were we to produce it ourselves, we would be self sufficient for years.
We could export the excess and make ourselves rich (er).

That's not going to happen though.
All we're going to get is more English hippies camping out on the West coast, getting stoned and arrested.

starbelgrade

I spend around €100 a week on petrol. If it went up to a tenner a litre, it'd cost me €650 a week to keep on the road - that's €34,000 per year.

At those prices, it would barely be worth my while working.

thetonynator

mgmt wrote: »

They raised the prices to the same crazy level at the petrol station on the quays (Dublin) a couple of years ago.

I remember that . . .the ''crazy prices'' were €1.40/L. Not so crazy now . . .

mgmt

thetonynator wrote: »

I remember that . . .the ''crazy prices'' were €1.40/L. Not so crazy now . . .

Found an article about it, 1.79euro. http://www.rte.ie/news/2007/1218/presswatch-business.html

We'll soon see that level soon.

cruiser178

Whats with all the petrol cars? i just dont understand it,at todays prices es whats wrong with diesel.I haven't owned a petrol car in 4 yrs and dont intend buying one again.

Carlow52

MagicMarker wrote: »

I can't afford 1.50, literally. I'm probably going to start cycling to work in the next week or two because I just don't have the money.

If u take off the saddle and leave on the seat post, on the whole it gives a much more comfortable ride.

Terry

Terry wrote: »

Here Trilly Trilly Trilly.

Bertie flogged a crap load of dinosaur excrement to Shell, but apparently there's still a Trillion dollars worth of gas and oil off the West coast.

Inda will probably do the same, even though we can manage it ourselves (for the most part).

Were we to produce it ourselves, we would be self sufficient for years.
We could export the excess and make ourselves rich (er).

That's not going to happen though.
All we're going to get is more English hippies camping out on the West coast, getting stoned and arrested.

The problem is, how much would it cost to develop??
By that I mean it can't be viable now, otherwise the oil companies would be fighting to get in there.
I wonder just how high do crude oil prices need to go before someone can drill there profitably. If it's going to cost $200 a barrel to get it out, then it will stay there until oil prices go (& stay) above $250. The way things are going, that day is not too far away.

thetonynator

mgmt wrote: »

Found an article about it, 1.79euro. http://www.rte.ie/news/2007/1218/presswatch-business.html

We'll soon see that level soon.

Well i think it was 1.40 at the start . .but yeah, you're right, I'd say if the unrest continues we'll be at €2 by the end of the year.

phasers

cruiser178 wrote: »

Whats with all the petrol cars? i just dont understand it,at todays prices es whats wrong with diesel.I haven't owned a petrol car in 4 yrs and dont intend buying one again.

I dont know a lot about cars but aren't diesel cars more expensive? Maybe people can't afford them?

thetonynator

Deleted User wrote: »

The problem is, how much would it cost to develop??
By that I mean it can't be viable now, otherwise the oil companies would be fighting to get in there.
I wonder just how high do crude oil prices need to go before someone can drill there profitably. If it's going to cost $200 a barrel to get it out, then it will stay there until oil prices go (& stay) above $250. The way things are going, that day is not too far away.

Our proven reserves are tiny, there is still a chance of plenty reserves that we don't know about, but I wouldn't hold out fr it. This comes up every week on the irish economy forum, but we just can't depend on it.

thetonynator

phasers wrote: »

I dont know a lot about cars but aren't diesel cars more expensive? Maybe people can't afford them?

They are if you buy new, but you'll have the difference made up in fuel costs and cheaper tax in no time. 2nd hand diesels aren't really that differently priced, but older ones have higher tax as the old road tax system was on engine size not emmissions, and diesel engines are bigger.

pow wow

thetonynator wrote: »

They are if you buy new, but you'll have the difference made up in fuel costs and cheaper tax in no time. 2nd hand diesels aren't really that differently priced, but older ones have higher tax as the old road tax system was on engine size not emmissions, and diesel engines are bigger.

Those who can't afford 08+ diesels enjoy astronomical motor tax, myself included. The 5 cent saving per litre doesn't really take the edge off

cruiser178

phasers wrote: »

I dont know a lot about cars but aren't diesel cars more expensive? Maybe people can't afford them?

ya new they are about 3/4 thousand dearer but when they get few yrs older that price comes right down.

Ive got a 13 yro avensis(diesel)with 250000 on the clock the engine is bullet proof and it runs on a spit compared to petrol,payed 1500e for it last year(did a bit of work on it myself)IF i change it next year id expect to lose very little.

kkdela6

they've invented airplanes iphones hovercrafts and ****e surely ta jaysus they could invent a car that runs on water or something

mgmt

thetonynator wrote: »

Well i think it was 1.40 at the start . .but yeah, you're right, I'd say if the unrest continues we'll be at €2 by the end of the year.

I read somewhere, that Saudi Arabia needs oil to be at about 80dollars a barrel to pay for the 15% public sector pay rise they gave recently to stave off unrest.

Also, wikileaks revealed recently that the Americans think Saudi is overestimating their reserves by 40%.

mgmt

kkdela6 wrote: »

they've invented airplanes iphones hovercrafts and ****e surely ta jaysus they could invent a car that runs on water or something

Ford designed a nuclear car in the 1950s. http://en.wikipedia.org/wiki/Ford_Nucleon

thetonynator

pow wow wrote: »

Those who can't afford 08+ diesels enjoy astronomical motor tax, myself included. The 5 cent saving per litre doesn't really take the edge off

I did mention that in my post.

the savings i meant weren't the 5c per litre, its how much further you get for that litre . . .

cherryghost

I'd say it'll hit the 1.80 mark by the end of Summer if the trend continues

hatz7

Crosáidí wrote: »

We are past peak oil, expect it to get dearer and dearer gradually over the years

Are we really past peak oil?

pow wow

thetonynator wrote: »

I did mention that in my post.

the savings i meant weren't the 5c per litre, its how much further you get for that litre . . .

. . .I wasn't contradicting your post, just adding my own opinion. Let's not fall out about it

mike65

70% of new car sales are diesel, have you not been paying attention?

ejmaztec

Terry wrote: »

All we're going to get is more English hippies camping out on the West coast, getting stoned.....

I think rocks are probably a better and more permanent solution.

thetonynator

hatz7 wrote: »

Are we really past peak oil?

No one really knows, but the current spike in oil prices is mainly due to unrest, not increased demand. Also, there is a lot more tax on fuel than there was, oil prices have been higher before but the tax means what we pay at the pumps is higher.

mgmt

hatz7 wrote: »

Are we really past peak oil?

Peak Oil occurred in 2006, according to the IEA (International Energy Agency).

Here is source:
http://www.abc.net.au/news/stories/2011/04/28/3202209.htm

cherryghost

cherryghost wrote: »

I'd say it'll hit the 1.80 mark by the end of Summer if the trend continues

I'm expecting 1.70 or so before an economic downturn and collapse in demand drops the price back down to about 1.30 or so, closly followed by another climb up the price ladder next year.

mgmt

Deleted User wrote: »

I'm expecting 1.70 or so before an economic downturn and collapse in demand drops the price back down to about 1.30 or so, closly followed by another climb up the price ladder next year.

Yep, I expect the China bubble to burst very soon. Their housing bubble might mirror ours :eek:

thetonynator

thetonynator wrote: »

No one really knows, but the current spike in oil prices is mainly due to unrest, not increased demand. Also, there is a lot more tax on fuel than there was, oil prices have been higher before but the tax means what we pay at the pumps is higher.

Demand is increasing, just not here in the west!
The current rise in price has only caused a small increase in supply, far short of what is needed by the global economy.

We are seeing rationing of oil by price, Chindia can well afford to outbid the west for oil and they are currently buying up anything they can get their hands on.

thetonynator

mgmt wrote: »

Yep, I expect the China bubble to burst very soon. Their housing bubble might mirror ours :eek:

The china bubble will last another few years i'd say.

thetonynator

Deleted User wrote: »

Demand is increasing, just not here in the west!
The current rise in price has only caused a small increase in supply, far short of what is needed by the global economy.

We are seeing rationing of oil by price, Chindia can well afford to outbid the west for oil and they are currently buying up anything they can get their hands on.

Yes it is increasing, but when oil jumped from $90 to $125 a barrel i a few weeks, that wasn't caused by demand, but by unrest and speculation.

thetonynator

thetonynator wrote: »

Yes it is increasing, but when oil jumped from $90 to $125 a barrel i a few weeks, that wasn't caused by demand, but by unrest and speculation.

It's the inability of Saudi and others to make up the shortfall from Libya that's spooking the oil market, so it's demand for a reduced supply that's driving prices up.

pragmatic1

Crosáidí wrote: »

We are past peak oil, expect it to get dearer and dearer gradually over the years

We still pay overinflated prices for petrol and diesel.

Ev84

pragmatic1 wrote: »

We still pay overinflated prices for petrol and diesel.

Amen to that. Pretty sickening when you think of how much the government takes, tax and duty:

http://www.pumps.ie/FAQPricesExplained.php

It's a disgrace IMO!

cruiser178

pow wow wrote: »

Those who can't afford 08+ diesels enjoy astronomical motor tax, myself included. The 5 cent saving per litre doesn't really take the edge off

its not at the pumps where you see much of a difference,its the mileage you get for the same money you put into a petrol that makes a huge difference.

Eathrin

Electric cars will eventually take over. Eventually can be a very long time though...

johngalway

Roughly I'm buying €72 of petrol every other week on average journeys, which is a lot for me. Planning on doing a lot more walking to be honest, especially coming into the good weather. Bike would be great but my knee doesn't like them! This cost of fuel craic is getting rather out of hand, time to put the skids under these so called alternatives.

shannon_tek

mgmt wrote: »

Ford designed a nuclear car in the 1950s. http://en.wikipedia.org/wiki/Ford_Nucleon

Christ i could imagine few of those flying round the place . the death tolls would be sky high cause for the amount of car crashes mini nuclear explosions every where. Think i'll stick to the electric all the same. or or . bio fuel.

shannon_tek

shannon_tek wrote: »

Christ i could imagine few of those flying round the place . the death tolls would be sky high cause for the amount of car crashes mini nuclear explosions every where. Think i'll stick to the electric all the same. or or . bio fuel.

You're over reacting, apparantly it's a steam engine under the bonnet, the water heated by a nuke.

mickydoomsux

mgmt wrote: »

Peak Oil occurred in 2006, according to the IEA (International Energy Agency).

Here is source:
http://www.abc.net.au/news/stories/2011/04/28/3202209.htm

Wouldn't you need a time machine to actually predict peak-oil with any accuracy?

Isn't it just complete and utter guess work?

kjl

the problem is that petrol is price inelastic, therefore no matter how much they charge they will still sell it. If we really want to see the prices going down we need to stop using it.

mickydoomsux

mickydoomsux wrote: »

Wouldn't you need a time machine to actually predict peak-oil with any accuracy?

Isn't it just complete and utter guess work?

You'll see it in the rear view mirrer soon enough! we're on the "bumpy plateau" of production at the moment, but the problem is the fact that global consumption is still increasing, bio-fuels are filling the gap at the moment, along with the use of lower grades of crude oil.

kjl

kjl wrote: »

the problem is that petrol is price inelastic, therefore no matter how much they charge they will still sell it. If we really want to see the prices going down we need to stop using it.

If you stop using it, someone else will buy up your share quick enough.

pragmatic1

Ev84 wrote: »

Amen to that. Pretty sickening when you think of how much the government takes, tax and duty:

http://www.pumps.ie/FAQPricesExplained.php

It's a disgrace IMO!

Even worse when you look at the profits being made every single year by oil companies.

mickydoomsux

pragmatic1 wrote: »

Even worse when you look at the profits being made every single year by oil companies.

Indeed. I genuinely think that peak-oil is at least, in part, bull****.

Covering the cost of reduced consumption during a global recession by upping the price? Then you, the people who control the supply, tell the public that the price rise is down to increased consumption. It's a captive market so there's nothing they can do about it anyway.

How would anyone but your company know the real truth of the situation?

mickydoomsux

mickydoomsux wrote: »

Indeed. I genuinely think that peak-oil is at least, in part, bull****.

Even the IMF are acknowledging PO.

The International Monetary Fund recently released its latest World Economic Outlook (WEO), April 2011. Chapter 3 of this document is titled, "Oil Scarcity, Growth, and Global Imbalances" (36 pgs).
As far as this author is aware, the IMF has not done any previous work on peak oil, and the new Outlook seems to be the first acknowledgment by the IMF that the peaking of global oil production is a situation which could be both imminent and serious.

http://www.imf.org/external/pubs/ft/weo/2011/01/pdf/text.pdf