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

28-11-2014 05:42PM

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 · 28-11-2014 06:05PM

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 · 28-11-2014 06:13PM

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

28-11-2014 06:13PM

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.

28-11-2014 06:14PM

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 · 28-11-2014 06:22PM

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 · 28-11-2014 06:24PM

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 · 28-11-2014 06:25PM

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

mickdw · 28-11-2014 06:26PM

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

Alun · 28-11-2014 06:26PM

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 · 28-11-2014 06:31PM

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.

28-11-2014 06:32PM

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 · 28-11-2014 06:34PM

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 · 28-11-2014 06:34PM

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 · 28-11-2014 06:46PM

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 · 28-11-2014 06:52PM

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

Actually scratch that. Woohoo!!!!

iusedtoknow · 28-11-2014 06:55PM

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 · 28-11-2014 06:57PM

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 · 28-11-2014 07:01PM

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 · 28-11-2014 08:10PM

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.

nokia69 · 28-11-2014 08:26PM

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.

I don't think its a conspiracy, if you look at the list of big producers you will see plenty of countries the US will be happy to see go broke because of lower oil prices

will be interesting to see what OPEC do

28-11-2014 08:26PM

Kermit.de.frog wrote: »

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.

Energy independence! The US would need to cut consumption by at least 30% to get anywhere near self sufficiency in oil.

At these prices, a lot of frackers will soon go bust!

The main reason that pump prices haven't dropped in line with oil prices is really down to the lag between crude oil leaving the terminal and fuel arriving at the service station. It's about 5 weeks (I think).

Even with that about 60% of the price will not change due to taxation.

Kermit.de.frog · 28-11-2014 08:36PM

Deleted User wrote: »

Even with that about 60% of the price will not change due to taxation.

60%? - I was fairly sure it was a lot more than that! *goes digging*

Alun · 28-11-2014 08:47PM

Kermit.de.frog wrote: »

60%? - I was fairly sure it was a lot more than that! *goes digging*

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

The petrol itself forms only about 32.5% of the pump price at current prices.
The crude oil component will be even less.

Kermit.de.frog · 13-12-2014 03:08PM

Price of oil down over 44% now since June and below $60 a barrel. Anyone noticed any falls in the last week or so in petrol prices?

S.R. · 13-12-2014 03:17PM

hfallada wrote: »

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

And what do you expect after Russian economy cripple?

moxin · 13-12-2014 03:21PM

No falls yet, stuck at 149.9 for petrol. Area is riddled also with Topaz stations which are dearer, hell no, I'm not ever buying off Denis O'Brien controlled Topaz.

Cee-Jay-Cee · 13-12-2014 03:25PM

138.5 in letterkenny for unleaded, I filled in Lifford at Topaz station and it was 136.5 which is a considerable drop from two months ago.

Irish Stones · 13-12-2014 03:27PM

Kermit.de.frog wrote: »

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.

Don't think it's only an Irish thing.
Over here in Italy 57% of the price is taxes, and at the moment it's 1.45 euro/litre for the petrol and 1.37 euro/litre for diesel.
When oil price falls, fuels prices go down a tiny bit, when the oil prices go up, fuel prices go very high.
People should be angry everywhere.

dirkmeister · 13-12-2014 03:28PM

Got petrol for 135.9 in Kilkenny today

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

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