Oil falling and Euro gaining on dollar but fuel at the pump still high.

Bullseye1

We have all had it tough at the fuel pumps with ever increasing prices. As soon as the euro loses value on the dollar or oil spikes prices increase almost immediately at the pump.

Oil has been failing over the past week or so and the Euro is up from the lows against the dollar. So how long before we see prices fall again.

langdang

Bullseye1 wrote: »

So how long before we see prices fall again.

Last Saturday in many stations, still a few stragglers holding out at 1.69.99999 today though.

paddy147

Bullseye1 wrote: »

We have all had it tough at the fuel pumps with ever increasing prices. As soon as the euro loses value on the dollar or oil spikes prices increase almost immediately at the pump.

Oil has been failing over the past week or so and the Euro is up from the lows against the dollar. So how long before we see prices fall again.

All pertol stations are oil barrons...as in they wont ever drop the price as fast as they raise it.

Petrol stations like to bleed people out of money.

miller50841

paddy147 wrote: »

All pertol stations are oil barrons...as in they wont ever drop the price as fast as they raise it.

Petrol stations like to bleed people out of money.

Dont forget the amount thats been taken by are oh so great government

Alanstrainor

The Maxol in harold's cross was selling for 167.9, needs to come down more!

Ah tbh, I'm not all that worried, my mileage is small these days, so it doesn't make all that much difference.

bobin fudge

topaz on cabra road still at 170.99

Dr_Colossus

You have to shop around, massive disparity in prices which can make a big difference when filling up with 60 litres or more. I filled up on Sat at 1.649 in Texaco in Clonard on a trip to Galway. The below link is very good when checking pumps in your town or when planning a journey further a field.
www.pumps.ie

Bullseye1

The pumps.ie app is excellent.

Voodoomelon

The price of oil has little bearing on the day to day price of petrol. Even if it did, it would take months for the price to be reflected at the pump, not days.

Bandara

paddy147 wrote: »

All pertol stations are oil barrons...as in they wont ever drop the price as fast as they raise it.

Petrol stations like to bleed people out of money.

You are of course fully aware that

a.) Petrol Stations are not actually charitable organisations, like all businesses the aim is to make profit or else they close down. And as most of them are losing money that's why you see them closing down.

b.) The average profit margin on fuel is 3-4 cent before the various costs are taken out of it. It's rare that more than 2.5c per litre is retained.

c.) The government takes 70% of the price in taxes and duty. So at the moment your €1.70 litre has €1.19 going to the government and 2.5 cent going to the station.

d.) Fuel is a traded commodity, blame speculators for the price. An average barrel of fuel is bought and sold 90 times before it arrives on a forecourt.

e.) You are aware that most times Oil company and petrol station are not the same entity.

f.) Find any other product on earth where the retail margin is less than 1%.

g.) Litre of petrol €1.70 about 4c margin
Litre of water €1.79 about €1.20 margin

Its less than tenth of the cost to get the water extracted, treated, bottled and delivered than it does the fuel.

But of course you considered all that before you posted your insightful comment aimed at the only person in the chain who doesn't actually make any money out of fuel.

But do carry on.

green123

Voodoomelon wrote: »

The price of oil has little bearing on the day to day price of petrol. Even if it did, it would take months for the price to be reflected at the pump, not days.

then why is it that when the price of oil goes up the price of petrol goes up very quickly within days ?

ongarite

Down to 161.9 in both filling stations in Ratoath since this morning.

Voodoomelon

Petrol prices are affected by everything from hurricanes to wars, gold prices to what season it is. Yes prices are more likely to go up quicker if crude oil goes up, but the price of oil is only one of many factors that determines the end price.

mickdw

Hammertime wrote: »

paddy147 wrote: »

All pertol stations are oil barrons...as in they wont ever drop the price as fast as they raise it.

Petrol stations like to bleed people out of money.

You are of course fully aware that

a.) Petrol Stations are not actually charitable organisations, like all businesses the aim is to make profit or else they close down. And as most of them are losing money that's why you see them closing down.

b.) The average profit margin on fuel is 3-4 cent before the various costs are taken out of it. It's rare that more than 2.5c per litre is retained.

c.) The government takes 70% of the price in taxes and duty. So at the moment your €1.70 litre has €1.19 going to the government and 2.5 cent going to the station.

d.) Fuel is a traded commodity, blame speculators for the price. An average barrel of fuel is bought and sold 90 times before it arrives on a forecourt.

e.) You are aware that most times Oil company and petrol station are not the same entity.

f.) Find any other product on earth where the retail margin is less than 1%.

g.) Litre of petrol €1.70 about 4c margin
Litre of water €1.79 about €1.20 margi

Its less than tenth of the cost to get the water extracted, treated, bottled and delivered than it does the fuel.

But of course you considered all that before you posted your insightful comment aimed at the only person in the chain who doesn't actually make any money out of fuel.

But do carry on.

The fact remains that stations instantly put up the price given the opportinity but tear the arse out of it when it should be coming down.

green123

green123 wrote: »

then why is it that when the price of oil goes up the price of petrol goes up very quickly within days ?

The oil used in the petrol you buy in the station would have been bought 5 months ago, so you wont see savings until that batch is used, as for the price hike when oil goes up, because they can.

Bandara

green123 wrote: »

Voodoomelon wrote: »

The price of oil has little bearing on the day to day price of petrol. Even if it did, it would take months for the price to be reflected at the pump, not days.

then why is it that when the price of oil goes up the price of petrol goes up very quickly within days ?

It doesn't

The price of fuel fluctuates directly in alignment with the Platts index (which tells the current schedule price)

MrFrisp

Oil down in price??

Won't last long....:mad:

http://www.rte.ie/news/2012/0925/oil-rises-ahead-of-us-consumer-confidence-survey-business.html









.

SCOOP 64

Evie Puny Dollar wrote: »

The oil used in the petrol you buy in the station would have been bought 5 months ago, so you wont see savings until that batch is used, as for the price hike when oil goes up, because they can.

But it seems to go up over night, at the word of any war ,oil price hike etc....

pippip

Was only thinking over the last few days how the price of fuel hasn't moved lately....then saw this thread yesterday..... then passing local station this morning and see its dropped by 2c since I passed yesterday morning.

Leonard Hofstadter

163.9 in Rourkes Cross, near Charleville this morning for petrol, 155.9 for diesel. Was 166.9 when I drove through last week.

Conmaicne Mara

Petrol/diesel is an outrageous price, there's no justification for it despite some posts here. The sooner we have a credible deliverable alternative and can put two fingers up to the producers the better.

blastman

It was still showing at 1.70 a litre this morning at the local station. I didn't realise how much it had come down elsewhere until I read this thread....

P.C.

Conmaicne Mara wrote: »

Petrol/diesel is an outrageous price, there's no justification for it despite some posts here. The sooner we have a credible deliverable alternative and can put two fingers up to the producers the better.

You can put two fingers up to the producers now!
Just stop buying the stuff.

Leonard Hofstadter

blastman wrote: »

It was still showing at 1.70 a litre this morning at the local station. I didn't realise how much it had come down elsewhere until I read this thread....

It's still 174.9 litre for petrol and 166.9 a litre for diesel in Topaz, Dooradoyle, Limerick:eek:!

TestTransmission

captainspeed wrote: »

It's still 174.9 litre for petrol and 166.9 a litre for diesel in Topaz, Dooradoyle, Limerick:eek:!

Both are 11c cheaper in Chawkes Castletroy

McGrath5

Topaz are consistently more expensive, avoid.

Leonard Hofstadter

TestTransmission wrote: »

Both are 11c cheaper in Chawkes Castletroy

Oh trust me I know that's one of the most expensive places in the country to fill up:)! Sure 200 metres down the road the Maxol garage were doing it for 169.9 for petrol and 159.9 for diesel, and considering how some places have dropped their prices to as low as 163.9, that's still dear.

I suppose they can get away with it there as they're so close to the hospital or else the owner just doesn't care about prices. Does anyone actually buy their fuel at that Topaz incidentally?

Yep, currently 1.64/l with their Fuelcard.

Incidentally would this be the Maxol you speak of? http://www.bmw-driver.net/forum/showthread.php?t=39957

Guy:Incognito

Conmaicne Mara wrote: »

Petrol/diesel is an outrageous price, there's no justification for it despite some posts here. The sooner we have a credible deliverable alternative and can put two fingers up to the producers the better.

How much would you sell your every decreasing supply of non renewable resource that costs a lot to obtain for if you owned it?

oregano

Hammertime wrote: »

g.) Litre of petrol €1.70 about 4c margin
Litre of water €1.79 about €1.20 margin

Its less than tenth of the cost to get the water extracted, treated, bottled and delivered than it does the fuel.

But of course you considered all that before you posted your insightful comment aimed at the only person in the chain who doesn't actually make any money out of fuel.

But do carry on.

A litre of water 1.79??????

Where's your petrol station????

500ml volvic seems to cost me up to 1.50 in my local esso!

Conmaicne Mara

P.C. wrote: »

You can put two fingers up to the producers now!
Just stop buying the stuff.

Sure, then like many other people I will only have to give up my work and relationship to facilitate that choice.

Fact is, there is no other choice, largely. I will dance a great big happy dance when I can switch to a practical alternative.

Guy:Incognito wrote: »

How much would you sell your every decreasing supply of non renewable resource that costs a lot to obtain for if you owned it?

Today, every litre of petrol you buy, 94c of the price goes in Tax. AA man on the radio said that because of past tax increases the Govt/s have eliminated any tax bonus for state coffers because demand has been depressed.

Competition to petrol/diesel is what's needed, then the oil monopoly wouldn't be long in dropping their price to keep THEIR incomes up.

johndaman66

oregano wrote: »

500ml volvic seems to cost me up to 1.50 in my local esso!

And you actually give them that for it:eek: I may well be hammered for saying it on a motor forum but what the hell, thats actually a bigger disgrace than petrol at €1.70 a litre if you ask me

Eric Cartman

Conmaicne Mara wrote: »

Competition to petrol/diesel is what's needed, then the oil monopoly wouldn't be long in dropping their price to keep THEIR incomes up.

LPG is the only currently viable option, perhaps hydrogen in time. Aside from that if I was a sheik I wouldn't be worried about electric cars putting a dent in my income any time soon.

oregano

johndaman66 wrote: »

oregano wrote: »

500ml volvic seems to cost me up to 1.50 in my local esso!

And you actually give them that for it:eek: I may well be hammered for saying it on a motor forum but what the hell, thats actually a bigger disgrace than petrol at €1.70 a litre if you ask me

Seeing as we're veering off topic anyways....
I Was just in my local Applegreen. I bought 50 l diesel. At max 5c inc vat profit to Applegreen they made 2.50 out of me. Foolishly I paid by credit card so couldn't get away with going "a bit over"!

Their volvic is 2.19 a litre, but shrewdly I bought 2 bottles for 3 quid. How much profit does Hammertime reckon they pulled out of me on that transaction?

And yet why I am I happy about the volvic and raging about the diesel?

Conmaicne Mara

Eric Cartman wrote: »

LPG is the only currently viable option, perhaps hydrogen in time. Aside from that if I was a sheik I wouldn't be worried about electric cars putting a dent in my income any time soon.

Re electric cars, no, not for a while anyway. AA guy was talking about them too. He done 900km one month in one loaned to him, I forget the company name. ESB put a power point in his house to recharge, cost him €15 to do those 900km.

I just remembered, but I read during the week that the US Navy have developed a method of making jet fuel out of sea water. What it involves, how much it costs, what else it produces in the line of pollution etc. I have no idea, but an interesting development nonetheless.

pa990

Conmaicne Mara wrote: »

...........

I just remembered, but I read during the week that the US Navy have developed a method of making jet fuel out of sea water. What it involves, how much it costs, what else it produces in the line of pollution etc. I have no idea, but an interesting development nonetheless.

http://www.newscientist.com/mobile/article/dn17632
-how-to-turn-seawater-into-jet-fuel.html

September1

Next month they are going to increase price of electricity, so we are also hammered by lack of competition on energy markets.

johndaman66

oregano wrote: »

Their volvic is 2.19 a litre, but shrewdly I bought 2 bottles for 3 quid. How much profit does Hammertime reckon they pulled out of me on that transaction?

And yet why I am I happy about the volvic and raging about the diesel?

I'm afraid I couldn't give you an exact figure oregano as I do not work in retail. But I do know that the mark-up convenience stores and filling stations make from the likes of minerals/ waters, potatoe crisps and confectionary is immense, in fact it is very much their gravy...I know that from talking to various people who do work in retail.

Anyway it stands to reason when you often see the same bar of chocolate or pack of walkers crisps for almost half the price in Tesco or Dunnes...they have a mark up on them too you know. As for why you were happy about handing over €3 for 2 litres of water I cannot answer you that. I can only speak for myself and what I will say is that I personally wouldn't be too chuffed to do so.

I do find it somewhat bemusing when people go to great lengths to save a cent or 2 per litre on their petrol only to go in to pay and chuck a few bars of chocolate and munchies up on the counter...

Guy:Incognito

Conmaicne Mara wrote: »

Competition to petrol/diesel is what's needed, then the oil monopoly wouldn't be long in dropping their price to keep THEIR incomes up.

Head out to sea with your dewalt and a really long drill bit so. Sure its easy money.

Conmaicne Mara

Guy:Incognito wrote: »

Head out to sea with your dewalt and a really long drill bit so. Sure its easy money.

Competition as in different fuel technologies, ie electric, hydrogen, etc., not more of the same.

Vicxas

I wonder if the price will ever drop below 1.50 again.

ScrubsfanChris

Watchdog did a piece last week about the releatonship between crude oil prices and what is charged at the pumps.

Video Here: http://www.bbc.co.uk/programmes/p00ys7vs

I know its about UK prices, but its still relevant here as well

green123

ScrubsfanChris wrote: »

Watchdog did a piece last week about the releatonship between crude oil prices and what is charged at the pumps.

Video Here: http://www.bbc.co.uk/programmes/p00ys7vs

I know its about UK prices, but its still relevant here as well

good video and it backs up exactly what some of us are saying in this thread, that when oil prices go up garages put their prices up almost instantly but when oil prices drop the price drop happens much more slowly.

now maybe its not garages fault, maybe their suppliers are to blame for this but it is a fact that price drops are much slower to happen than increases