Fuel prices - Coronavirus

Gael23

Has anyone noticed any drops in fuel at the pumps? Surely it’s going to fall significantly

biko

Not sure how you make this connection?

Darc19

Big price drop at end of last week on the market. This will feed into the pumps in a couple of weeks.

Expect couple of cent off next week.

But if oil was free, pump prices would still be about €1 per litres. (taxes, refinery and retail costs)

con747

biko wrote: »

Not sure how you make this connection?

Price of Brent crude has fallen nearly 30% since outbreak. Home heating oil has fallen at a slow rate and petrol and diesel should be dropping.

phill106

biko wrote: »

Not sure how you make this connection?

I imagine the suggestion is that there will be less people driving in and out of work, more people self isolating , working from home all pointing to less fuel being used, leading to excess stocks of fuel.

hoody

Price of crude oil has been dropping due to lower demand over past few weeks because of coronavirus

biko

Ok, I read up on the reasons here https://www.ctvnews.ca/health/coronavirus/gas-prices-in-freefall-due-to-coronavirus-epidemic-1.4843975

con747

Also Russia did not sign up to the new measures OPEC wanted to introduce to stabilise the price of oil.

bazz26

Always slower for prices to go down at the pumps than go up.

Darc19

bazz26 wrote: »

Always slower for prices to go down at the pumps than go up.

Incorrect and a survey was done a few years ago by pumps.ie over several price changes and prices changed up and down by an almost identical time frame.

However, we will notice price increases quicker than price decreases due to how the human brain works.

mikeecho

Home heating oil Kero has dropped about 15% in a month or so.

Petrol near me has dropped from 1.459 to 1.379.
Diesel down from 1.339 to 128.9.

pippip

Drove Cork to Dublin today.

Cork 133.9...... Dublin 147.9

UsBus

mikeecho wrote: »

Home heating oil Kero has dropped about 15% in a month or so.

Petrol near me has dropped from 1.459 to 1.379.
Diesel down from 1.339 to 128.9.

Lot of places still charging 1.35 and more for diesel. Pure rip off

bazz26

Darc19 wrote: »

Incorrect and a survey was done a few years ago by pumps.ie over several price changes and prices changed up and down by an almost identical time frame.

However, we will notice price increases quicker than price decreases due to how the human brain works.

Some forecourts are indeed very slow to pass on the savings but fast to raise it, that's from passing them every day on the road, not an imagination by the brain.

Darc19

bazz26 wrote: »

Some forecourts are indeed very slow to pass on the savings but fast to raise it, that's from passing them every day on the road, not an imagination by the brain.

There will always be an odd one here and there. The pumps survey used over 100 garages and figures were gathered over several months (I was involved in the data gathering)

Also, fuel prices change twice a week. If a garage doesn't do huge volume, then they may only get a delivery once a week or less, therefore their prices change slower.

Always shop around.

2c probably coming off on Tuesday and probably around 4 c off the next week - maybe a little more

tabby aspreme

Diesel 122 in urlingford

soundman45

Have a Circle K fuel card, weekly set price, since Friday 124.9 for diesel

Sierra Oscar

Price of brent crude just after plummeting 20%.

Wonder how big the drops will be at the pumps in the coming weeks.

Oil Crashes, U.S. Stock Futures Plunge in Asia: Markets Wrap

Darc19

Sierra Oscar wrote: »

Price of brent crude just after plummeting 20%.

Wonder how big the drops will be at the pumps in the coming weeks.

Oil Crashes, U.S. Stock Futures Plunge in Asia: Markets Wrap

That must be one of the biggest one day drops in percentage terms. I wonder if the drop will be sustained.

If it is, petrol will drop to under €1.25 and diesel to under €1.15 by 3rd wk March. Many stations may go a few cent lower

Kero will possibly be under €500 for 1000 litres

Trump will be livid. Oil needs to be over $40 for fracking to be profitable.

Sierra Oscar

Darc19 wrote: »

That must be one of the biggest one day drops in percentage terms. I wonder if the drop will be sustained.

If it is, petrol will drop to under €1.25 and diesel to under €1.15 by 3rd wk March. Many stations may go a few cent lower

Kero will possibly be under €500 for 1000 litres

Trump will be livid. Oil needs to be over $40 for fracking to be profitable.

It is the largest daily drop that I can remember. Prices have been this low before even in recent years, but this fall is staggering. OPEC+ has truly imploded.

The falls are accelerating too so its certainly not over yet.

Serious repercussions for the US energy industry as you say and Russia will come under intense pressure too.

It wouldn't surprise me if Trump responds by imposing a massive tariff on Saudi oil. He will be furious.

https://twitter.com/FinancialTimes/status/1236782926261620736

Darc19

Trump is besties with the Saudis.

Mick o'leary will be salivating at these drops. Unfortunately coronavirus is still a big issue, but could be share to buy.

mikeecho

Oil crashes by most since 1991 as Saudi Arabia launches price war

https://www.cnn.com/2020/03/08/investing/oil-prices-crash-opec-russia-saudi-arabia/index.html

mikeecho

Putin recently said that fuel was too expensive.

This will do wonders for his popularity.

https://www.reuters.com/article/russia-fuel-regulations/russia-resorts-to-stop-gap-measures-to-tackle-high-petrol-prices-idUSL8N1XC6EH

con747

Fuel "is" way to expensive, Putin wouldn't agree to OPEC's attempt to curtail the falling price so are now throwing their toys out of the pram. Lets see how it reflects at the pumps and the kerosene prices over the next week or two. The dollar has also weakened so by right their should be a serious drop in prices.

JoeFritzl

Seen as over 2 million people will be infected now, I could see this having a massive effect on the motor industry.

mikeecho

con747 wrote: »

Fuel "is" way to expensive, Putin wouldn't agree to OPEC's attempt to curtail the falling price so are now throwing their toys out of the pram. Lets see how it reflects at the pumps and the kerosene prices over the next week or two. The dollar has also weakened so by right their should be a serious drop in prices.

Interesting point.. when oil is cheap, petrol stations make more profit.

They just increase their margin of profit.. what's an extra cent or two when fuel is so cheap.

(Not motor related, but I'm tempted to get an ibc just for 1k L of Kero if it drops into the low 50's)

CoBo55

Darc19 wrote: »

There will always be an odd one here and there. The pumps survey used over 100 garages and figures were gathered over several months (I was involved in the data gathering)

Also, fuel prices change twice a week. If a garage doesn't do huge volume, then they may only get a delivery once a week or less, therefore their prices change slower.

Always shop around.

2c probably coming off on Tuesday and probably around 4 c off the next week - maybe a little more

Yea yea yea, maxol close to me was 130.9 and 140.9 on Wednesday, went up to 131.9 and 141.9 on Friday, amazingly the two Mcsorely garages dropped from 133.9 and 143.9 to, yes you've guessed it 131.9 and 141.9...

marcos_94

pippip wrote: »

Drove Cork to Dublin today.

Cork 133.9...... Dublin 147.9

I was in Cork city over the weekend and petrol was 143.9 (cheapest i saw) vs 143.9 up the road from me here in Dublin. Where do you get petrol at 133.9? Ill be frequenting there more often when im down!

Atlantic Dawn

What a time to be an ICE driver, long may it continue.

pippip

marcos_94 wrote: »

I was in Cork city over the weekend and petrol was 143.9 (cheapest i saw) vs 143.9 up the road from me here in Dublin. Where do you get petrol at 133.9? Ill be frequenting there more often when im down!

Youghal - I mean every station was around that price, give or take a cent, not just one having a generous day.

Darc19

Here's the fuel breakdown

Petrol
Duty - 54c
Carbon tax - 6c
Refinery costs - 8-10c
Distribution costs - 5-6c
Retail margin - 7-8c

Total fixed costs 80-83c + vat. = 98c - €1.02

Basically if crude oil was free, the pump price for petrol would be €1 av.

119 litres in a barrel of fuel. So at last week's $46 av price, the oil cost would add about 40c (Inc vat) to the €1, giving a forecourt price of €1.40
If oil prices stay about $35 (brent), petrol will drop to about 1.29 in about 2 weeks

Retailers and distributors can take a smaller amount which when combined can give about 8-10c to play with. (6-8c excl vat)


Diesel duty is 11c less. (about 13c Inc vat) but is a little more expensive to refine, so usually about 10 - 12c less than petrol at the pumps.

CoBo55

marcos_94 wrote: »

I was in Cork city over the weekend and petrol was 143.9 (cheapest i saw) vs 143.9 up the road from me here in Dublin. Where do you get petrol at 133.9? Ill be frequenting there more often when im down!

133.9 /123.9 in bunclody.

Field east

mikeecho wrote: »

Home heating oil Kero has dropped about 15% in a month or so.

Petrol near me has dropped from 1.459 to 1.379.
Diesel down from 1.339 to 128.9.

Three pumps from Johnstown to Urlingford range from 120.9 to 124.9 for diesel. Petrol is circa 10 cent more. This is the case for the past few days.
Anyone know if all diesel at the pumps is the same quality and if not then what are the differences.
It’s of interest that the price of fuel, it’s primary source and the various ways it makes itself to the fuel pumps throughout the nation has never caught the imagination of the various media groups. Look how the trolly count is tracked almost daily and trotted out when it suits an agenda. Likewise with the homeless and the rough sleepers. Also who are behind the various suppliers at the pump. Eg Texaco, shell, Inver, Total, Topaz. Is the name franchised out or what?

CoBo55

Field east wrote: »

Three pumps from Johnstown to Urlingford range from 120.9 to 124.9 for diesel. Petrol is circa 10 cent more. This is the case for the past few days.
Anyone know if all diesel at the pumps is the same quality and if not then what are the differences.
It’s of interest that the price of fuel, it’s primary source and the various ways it makes itself to the fuel pumps throughout the nation has never caught the imagination of the various media groups. Look how the trolly count is tracked almost daily and trotted out when it suits an agenda. Likewise with the homeless and the rough sleepers. Also who are behind the various suppliers at the pump. Eg Texaco, shell, Inver, Total, Topaz. Is the name franchised out or what?

Urlingford... It took me a few minutes!! The car I'm driving now there's no difference in performance etc between different brands.
Ha ha you changed it!

Shefwedfan

Home heating is down, I was holding out strong but had to order, cheapest I have got it for a while 595 for 1000 ltrs

CoBo55

Shefwedfan wrote: »

Home heating is down, I was holding out strong but had to order, cheapest I have got it for a while 595 for 1000 ltrs

That's good, the Wexford cartel are holding strong at 625 for 1000.

Darc19

CoBo55 wrote: »

That's good, the Wexford cartel are holding strong at 625 for 1000.

Tuesday is price change day in the fuel world. I'd try and hold out for two weeks and then stock up for next winter.

Gael23

They were talking about fuel prices on the radio earlier but I didn’t catch it all

Shefwedfan

Darc19 wrote: »

Tuesday is price change day in the fuel world. I'd try and hold out for two weeks and then stock up for next winter.

If you use cheapest oil you can see when they updated

begbysback

Fuel prices will go back up once all the hand sanitizers are sold out, next best thing is a drop of petrol. Smelly and flammable yes, ok you might get set alight, but an effective barrier against corona nonetheless.

Fann Linn

Gael23 wrote: »

They were talking about fuel prices on the radio earlier but I didn’t catch it all

Paul Summerville who deals the market was saying lowest price since first Gulf War, however he believes Trump will have a word with his buddies, the Saudis, and prices should rise again.

TheBody

Darc19 wrote: »

Tuesday is price change day in the fuel world. I'd try and hold out for two weeks and then stock up for next winter.

Why Tuesday's?

Idbatterim

Atlantic Dawn wrote: »

What a time to be an ICE driver, long may it continue.

Was it last year , Apple green in clonskeah had petrol for 118 Litre not even close to that yet

vectra

january 2016 in Urlingford.



Resulting mpg after refuelling the Passat on that same trip to Swords. :cool:



Ironically I refuelled at the same station sometime in 2018 in the Mondeo and it knocked the hell out of the mpg immediately during the run.
So consistency of quality might not be the best there.

Darc19

TheBody wrote: »

Why Tuesday's?

Prices set on Monday by distributors, deliveries made Tuesday and Wednesday.

Heating oil seems to be under €600 for 1,000 litres in many places.
I'd expect this to drop to under 550 in 2 weeks.

Northernsoul

Darc19 wrote: »

Prices set on Monday by distributors, deliveries made Tuesday and Wednesday.

Heating oil seems to be under €600 for 1,000 litres in many places.
I'd expect this to drop to under 550 in 2 weeks.

No need to wait 2 weeks. I paid 48c per litre today in Donegal - so €480

vectra

vectra wrote: »

jIronically I refuelled at the same station sometime in 2018 in the Mondeo and it knocked the hell out of the mpg immediately during the run.
So consistency of quality might not be the best there.

DPF regen kicked in soon after the refuel? On my Sprinter the fuel consumption increases by approx. 20 percent when the regen is happening for maybe 20 kilometers at the time. And this happens normally roughly once per tankful but sometimes once in a while a tankful of fuel slips through without a single regen cycle.

On the Merc you can hear a change in exhaust note and a whistling sound when the DPF regen is happening.

Darc19

Northernsoul wrote: »

No need to wait 2 weeks. I paid 48c per litre today in Donegal - so €480

Either they are selling at a loss or it is coming from across the border (lower vat 5% v 13.5% and no carbon tax)

Gael23

With flights being halted I think we can soon expect oil prices to freefall

mikeecho

Gael23 wrote: »

With flights being halted I think we can soon expect oil prices to freefall

Russia has said that it can survive on $25 oil, and they're in a financial war with OPEC since they left OPEC+ this month.

https://oilprice.com/Latest-Energy-News/World-News/Russia-Can-Live-With-25-Oil-For-Years.html

BTW .. the carbon tax on Kero is kicking in on 1st May, that'll add 2c/l

https://www.thejournal.ie/budget-carbon-tax-4842117-Oct2019/

uck51js9zml2yt

Northernsoul wrote: »

No need to wait 2 weeks. I paid 48c per litre today in Donegal - so €480

Will they deliver to the south west?