When will petrol / diesel go below €1.50/litre?

waterwelly

Oil down now to less than $74 a barrel and the €/$ trading at 1.09.

Prices on pumps.ie already at €1.72/litre.

Surely sub €1.50 is on the cards?

irishgeo

https://www.boards.ie/discussion/2058322835/when-will-petrol-diesel-go-below-1-50-litre

If that happens the govt will slap on the remaining duty increase that is remaining.

Miscreant

I doubt it. Government will slap on the deferred duty again which will keep the price up. I think the days of €1.50 petrol or diesel are behind us.

hoodie6029

Don’t we have one of these threads already?

Miscreant

https://www.boards.ie/discussion/comment/121376405#Comment_121376405

We have this one: How long until we see €2 a litre and will it push more to EV's faster? - Page 101 — boards.ie - Now Ye're Talkin'

Similar but different..... I still take the point though. 🙂

Gusser09

I'd imagine we will see 1.65 soon. It wont go below that though.

waterwelly

https://www.boards.ie/discussion/comment/121376455#Comment_121376455

If barrell price and exchange rates stay as they are we are sub €1.60 I'd say.

Atlantic Dawn

I saw petrol below €1.80 today and thought that was great 😂.

For Forks Sake

Paid 172.9 / l for diesil on Monday (Caseys Roscommon town), have noticed a slight drop in most parts od the coounty this week

PopePalpatine

https://www.boards.ie/discussion/comment/121376981#Comment_121376981

My local is still charging €1.849, as if they're not making enough off their €5 chicken fillet rolls.

Buffman

https://www.boards.ie/discussion/comment/121376252#Comment_121376252

As it stands the duty is going back up next year anyway, April 1st and August 1st. Total of 8c on P and 6c on D going back on.

Casati

€1.75 today in Killarney

dollylama

€165.44 on Top fuel card

€160.39 on DCI fuel card

Both providers have been trending down this two weeks yet local filling stations have remained static. The "we make no money on fuel" shtick from the filling stations is becoming a bit hard to swallow

Oscar_Madison

https://www.boards.ie/discussion/comment/121384232#Comment_121384232

Especially when you see them doing up their garage shop as my local is doing this week 😀

Clo-Clo

https://www.boards.ie/discussion/comment/121384232#Comment_121384232

I have the Circle K one via the parking tag, on these do you have to be a commercial customer?

irishgeo

https://www.boards.ie/discussion/comment/121384232#Comment_121384232

I have seen the margins on diesel and petrol and it is very small. 1 or 2%.

The biggest margin item I seen. Tea and coffee. Near a 100% margin.

Clo-Clo

https://www.boards.ie/discussion/comment/121387131#Comment_121387131

That's the spin garages came out with years ago, they make no money from selling fuel and only if someone buys food in the shop

Yet they have been price gouging for years and to be honest it is nonsense. I remember the story, many around the country, but person was in local village and filled up, while at the cash register he mentioned to the owner that it was great value and he was 4c cheaper than up the road. Owner went out and turned up the price.

Plus all the garages that knew the government price decrease was coming in so they upped the price and then "reduced" it back down the next day, so the price decrease was just more profit. All of the garages in our area certainly got caught at that

Circle K for instance keep the price up by circa 4c everywhere because of the fuel card to take 4c a ltr off it etc.

Yes bigger margins on a cup of tea but they are making a tidy margin on fuel as well.

irishgeo

https://www.boards.ie/discussion/comment/121387148#Comment_121387148

You have no clue how it works. Do you expect them to make a loss on the fuel?

Most of the suppliers set the wholesale price for the week so that's the price for any delivery that week so it can takes ages for some of the less busy stations to get a delivery and therefore the fuel they brought could be the at the higher wholesale prices until the next order is delivered.

If one group was making a huge profit say circle k as you think and keeping it 4c cent higher. Why are it's rivals not 4c cheaper.

User1998

I’d imagine they make more than just a couple of cents per litre. I think my fuel card gave me 10c off per litre? And I have a taxi discount that gives me 4c off. It used to be 10c off.

Clo-Clo

https://www.boards.ie/discussion/comment/121387182#Comment_121387182

I don't expect them to make a loss but I don't believe the spin that they are making nothing from selling fuel

Unless you own a garage you have the exact same information I have on how it works so not sure why you fire out statements like "You have no clue how it works"

waterwelly

https://www.boards.ie/discussion/comment/121387322#Comment_121387322

So what is the "tidy margin" in fuel you speak off. Give us some figures there.

I know somebody who owns a garage, it's cut throat and they genuinely make little to nothing on fuel.

They got dogs abuse over the price hikes through no fault of their own.

There's no other business in Ireland that I'm aware of who puts their prices up in lights outside the door.

Pubs, shops, barbers, McDonalds, nobody else does it.

Clo-Clo

https://www.boards.ie/discussion/comment/121387635#Comment_121387635

The post I quoted said 1-2%. If you take circle K for instance all of their garages take it that you have a fuel card so their prices are up 4c per ltr. So the profit margin would be a lot higher on the non fuel card customers. I only have a fuel card now because it popped up on ParkingTag and all the main garages in our area are Circle K. As you know someone maybe you can confirm what is the margins?

By the way I don't agree a cup of tea is 100% profit. They have to boil the water, buy the tea bag, staff in shops, electricty for lights etc.

Normally its a young person behind the check out. Why would someone be giving them abuse? If they are giving a young person abuse then they are in the minority and an idiot.

They rightly got abused when they fiddled the prices recently, the examples are all over the place. As I said in our area they pumped up the price, gov reduced the price and it went back down to what it was before. That was price gouging.

Go into any village/town in Ireland, multiple fuel stations, all different brands, all the same price. Strange that isn't it. Maybe the is price fixing?

The companies you listed, McDonalds have prices up in lights outside. Pub will have board with specials and menus etc. The price of a pint is a far hotter topic than fuel ever was.

Shops, well the bigger ones are online. Barbers in our area have a price flashing in window and offer specials during the week etc instead of weekend.

dollylama

I'm not doubting the margins on fuel are tight but in my example, we're 10-15 cent below pump on a very low volume card account. Meanwhile, our local forecourt who is buying minimum 70,000 litres per week from the same supplier as we are is stuck 15 cent higher than our card rate, as are all the local forecourts.

So while there was "nothing made on fuel" some years back, any half-busy filling station is most certainly making hay in times of price volatility

Clo-Clo

https://www.boards.ie/discussion/comment/121388055#Comment_121388055

If the margin was really so tight and they only made money on food why is the country full of fuel stations? are people honestly trying to tell us the only reason they can stay open is selling a cup of tea or a sandwich?

FrozenDriveway

https://www.boards.ie/discussion/comment/121387131#Comment_121387131

The margin on fuel is 4%, dry stock is about 23%. Price per barrell isn't the only factor as well as transport, wages etc. have increased dramatically in the past 2 years.

I suspect we will be at €1.62/3 around July 2024 and that will be the lowest.

waterwelly

https://www.boards.ie/discussion/comment/121388095#Comment_121388095

Volume.

Let's just say 50 Litre fill. 10 times an hour.

Then say you have 6 pumps occupied of the 8 on the forecourt.

500 litres an hour. 6 pumps is 3000 litres an hour. At say 5c / litre = €150 per hour.

Say 12 hours a day 365 days a year

= €657000 a year.

Now it won't be always busy, so let's say it's half the above, still €300000 a year.

The shop then makes its own money on top of this.

Clo-Clo

https://www.boards.ie/discussion/comment/121388256#Comment_121388256

SO the petrol stations are making no money from selling fuel?

What about Circle K and 50%(been generous) don't have fuel cards so that 5c an hour is actually 9c and hour

Plus the number that seems to be on google is 5%, so if it's 1.80 a ltr thats 9c a ltr. Plus on top the 4c without a fuel card. That's 13c a ltr.

irishgeo

https://www.boards.ie/discussion/comment/121388696#Comment_121388696

What about costs such as pump maintenance and corporate tax on the profits?

GalwayGaillimh

169.9 for diesel ⛽ Casey's Circle K Roscommon town this evening

BlakeS94

https://www.boards.ie/discussion/comment/121379726#Comment_121379726

Your chicken rolls are only a fiver !?

CramCycle

https://www.boards.ie/discussion/comment/121398843#Comment_121398843

Most places are north of €6.50 with 3 toppings, cheapest I've seen is €5 with only one topping that has to be either lettuce or tomato. Price gouging on chicken fillet rolls is a far bigger issue. Coffee in most places is now €3.50, crisps are €1.50, so a mediocre lunch is over a tenner now.