Anyone seeing the benefits of the oil price falls at the pumps?

Kermit.de.frog

Anyone Because a lot of countries in Europe are yet us not so much.

http://www.telegraph.co.uk/finance/oilprices/11256183/World-on-brink-of-oil-price-war-as-Opec-set-to-keep-pumping.html


I'd say this will become a source of anger for people here if the prices don't start coming down quicker. I know most of the price is tax in Ireland but still we are out of sync with the continent. And maybe tax is not the only reason the price is being kept high. Maybe some cosy cartels are operating too.

yer man!

133.9 in Waterford this week, it's great! For diesel

wardy2

Saw unleaded at 141.9 around dublin

jacksie66

This post has been deleted.

was 1.50 a while back, 1.44 at the weekend, 1.40 now

Summer wind

It usually costs me €95 to fill my tank of diesel. Now for the last two weeks it's cost €87. That's at €1.35 a litre.

hfallada

Dont forgot a marjority of Diesel and Petrol is just tax. You arent going to see much of a change in the pumps.

But the real benefit is low oil prices are going to cripple the Russian economy( I wonder is it the main reason why the US, an oil producing country isnt bothered with low prices, considering they are now an export of some oils). With low oil prices, it will be harder for the Russian Government to cover up their ****ty economy

Agricola

1.40 for unleaded near me. Pretty astonished its gone back almost 15c a litre from its peak. Thought that was contrary to how oil pricing works, i.e. keep going up.

Cookie_Monster

$2.23 to $2.07 in the last few weeks (NZD)

jacksie66

This post has been deleted.

Cookie_Monster

jacksie66 wrote: »

$1.97 here in Christchurch..

:mad:

KERSPLAT!

I don't look very often but I'm pretty sure it was hitting 1.50/l at the local a few weeks ago, it's now around 1.35/l, pretty good.

afatbollix

£1.20 over in London Very happy at the moment

jacksie66

This post has been deleted.

Beano

KERSPLAT! wrote: »

I don't look very often but I'm pretty sure it was hitting 1.50/l at the local a few weeks ago, it's now around 1.35/l, pretty good.

1.35 for diesel or petrol?

Beano

afatbollix wrote: »

£1.20 over in London Very happy at the moment

which seems good until you realise it is actually as expensive as prices were here BEFORE they dropped. You guys pay a ridiculous amount for petrol.

donegaLroad

home heating oil 69c (euro price) per litre over the border at the minute.

Oh yeah, now might be good to get more heating oil

corsav6

€1.40 for diesel in Castlebar, that's at topaz so may be cheaper elsewhere.

bear1

If I'm correct then the prices we are paying in November for fuel is based on the prices oil cost in October.
I read that oil has gone to near $70 a barrel today which means in December you will see a further decrease.
If in December oil goes below $70 (I doubt it for now) then in January we will see a further reduction.
I have seen a definite decrease in fuel both in Ireland and in Europe - I paid roughly 1.15 today in Warsaw but many places are still trying to charge a fortune for it.

force eleven

Oil Prices have dropped by 30%. Pump prices by 10% in the same time.

Someone is making a mint.

BoJack Horseman

force eleven wrote: »

Oil Prices have dropped by 30%. Pump prices by 10% in the same time.

Someone is making a mint.

The dept of revenue.
& currency speculators.... (The euro being weaker these days vs the dollar compared to a year ago.)

C$119.9 in Vancouver here at the moment.

bear1

Sacramento wrote: »

C$119.9 in Vancouver here at the moment.

That's quite expensive if I'm honest Are you driving a rocket?

Triboro

Sacramento wrote: »

C$119.9 in Vancouver here at the moment.

A litre or american gallon?

J Cheever Loophole

Kermit.de.frog wrote: »

I'd say this will become a source of anger for people here if the prices don't start coming down quicker.

Oft referred to as the rocket and feather effect - it was the subject of much debate in the UK media at the start of this month.

http://www.telegraph.co.uk/news/uknews/road-and-rail-transport/11212890/Fuel-prices-the-rocket-and-feather-effect-explained.html

The cheapest unleaded up here is £1.20 a litre - diesel £1.24 a litre.

I was quoted £234 for 500 litres of home heating oil yesterday - a fall of £11 over the last ten days.

imfml

Go electric!

Black_Knight

imfml wrote: »

Go electric!

http://www.quickmeme.com/img/4a/4a2f3bab40f94ed64c04148733b4123568b197a3b4cd2cdb2a75e3a735605e41.jpg
Go banana!

OwaynOTT

imfml wrote: »

Go electric!

Or move to Bulgaria according to that Telegraph article.

Rubberchikken

petrol 1.45 nearly 1.46 in north cork yesterday;( not much change either way

Lemegeton

in the last 2 months in the UK its easily dropped 13-14p in most places.
have heard its not dropping by the same rate back home. not surprised though

bear1

bear1 wrote: »

That's quite expensive if I'm honest Are you driving a rocket?

2.5 NA Impreza

Triboro wrote: »

A litre or american gallon?

Litre... Still much cheaper in the US.

FISMA

Kermit.de.frog wrote: »

I know most of the price is tax in Ireland but still we are out of sync with the continent.

Y'up. Ireland gets their gas at about the same price as the States, they just like those taxes.

Personally, I am a worried that the falling prices are due to an economic slow-down.

If, given the money printing that has gone on world-wide over the last 6 years the world is entering another recession, we're in trouble.

BringBackMick

It is deliberate collaboration between Saudi/ US to cripple Russia and Iran

FISMA

FISMA wrote: »

Y'up. Ireland gets their gas at about the same price as the States, they just like those taxes.

Personally, I am a worried that the falling prices are due to an economic slow-down.

If, given the money printing that has gone on world-wide over the last 6 years the world is entering another recession, we're in trouble.

More to do with geopolitics than economics tbh.

BringBackMick

BringBackMick wrote: »

It is deliberate collaboration between Saudi/ US to cripple Russia and Iran

That's what I assumed but Iran seem happy enough for production to remain steady.

FISMA

BringBackMick wrote: »

It is deliberate collaboration between Saudi/ US to cripple Russia and Iran

So the US is in on it?

So the US wants to help destroy its own energy boom, currently going on in the Dakotas, which require the gas prices to be over $60 a barrel to be profitable.

Crippling Iran? Seriously?

Ten months ago, Obama lifted the sanctions against Iran when they entered talks for six months, with an additional 4 month extension. Last week, he announced that there was yet another extension until next July. Again, with no sanctions in place.

Best take that logic to the conspiracy section.

DulchieLaois

it was 1.68 in Dublin last year and that was at a cheap station.....gone down almost 25c in year and a half

Galwayguy35

1.36 for diesel is the cheapest I've come across around here, I notice it in the fill all right.

mickdw

Not much reduction in price in North mayo. 153.9 for petrol last time I filled.

Alun

force eleven wrote: »

Oil Prices have dropped by 30%. Pump prices by 10% in the same time.

Excise Duty paid is per litre, not as a percentage, so a 30% drop in the cost of the raw material, i.e. crude oil, will not result in a 30% drop in the price of petrol. That plus refining costs, transport costs and the overheads of the petrol stations (amongst others) remain the same.

BringBackMick

FISMA wrote: »

So the US is in on it?

So the US wants to help destroy its own energy boom, currently going on in the Dakotas, which require the gas prices to be over $100 a barrel to be profitable.

Crippling Iran? Seriously?

Ten months ago, Obama lifted the sanctions against Iran when they entered talks for six months, with an additional 4 month extension. Last week, he announced that there was yet another extension until next July. Again, with no sanctions in place.

Best take that logic to the conspiracy section.

Saudi's want to see Iran and Russia suffer.

US want to see Russia suffer.

Hence a silent mutual agreement from both parties.

BringBackMick

BringBackMick wrote: »

Saudi's want to see Iran and Russia suffer.

US want to see Russia suffer.

Hence a silent mutual agreement from both parties.

And why the nod from Iran?

IvyTheTerrible

Definitely noticing it here in France.
In mid summer, diesel was about 1.35 a litre, and now it's 1.15 to 1.19 a litre.

iusedtoknow

When we moved to the US 2 years ago, it was hovering around $4 a gallon, have paid up to $4.20 during some of the spikes. . I just went to fill up and it was $3.11. This is in San Francisco.

I was away for 3 weeks, and just before I left gas was already on the way down

Recognition Scene

Little under $2.50 a gallon most places here, which in Irish terms would be under 53 cent a liter if my maths are correct!

stimpson

Still paying 77c a litre for LPG. Oh woe is me...

Actually scratch that. Woohoo!!!!

iusedtoknow

Recognition Scene wrote: »

Little under $2.50 a gallon most places here, which in Irish terms would be under 53 cent a liter if my maths are correct!

Just worked it out that we're paying 69c (euro) a liter...

Green farmer

IvyTheTerrible wrote: »

Definitely noticing it here in France.
In mid summer, diesel was about 1.35 a litre, and now it's 1.15 to 1.19 a litre.

I was there this June as well. At the time diesal was 1.39 cent a litre in france, while home prices were 1.43 .As far as I know taxes in both countries haven't changed in either country. Even though we've dropped 10 cent, would make you think !!! Cheapest around these parts is 134.9

IvyTheTerrible

Green farmer wrote: »

I was there this June as well. At the time diesal was 1.39 cent a litre in france, while home prices were 1.43 .As far as I know taxes in both countries haven't changed in either country. Even though we've dropped 10 cent, would make you think !!! Cheapest around these parts is 134.9

It's worth remembering that diesel is heavily subsidised in France, to stimulate the car industry.

Kermit.de.frog

The core of the "problem" is that OPEC are not cutting their production as the US heads once more for energy independence with Fracking the driving force. It's a supply and demand dynamic. More and more supply and static demand.

But really questions do need to be asked about the slow nature of the drop in petrol prices here compared to other countries. We are not seeing the benefits yet we should be seeing even allowing for the lag.