Heating oil big drop

Just got 500L for €598 from Certa, formerly Campus oil and others. Code WRK30 brings it down from €613

What county? I am not seeing that price.

Ye was under 600€ for 500itres for me yesterday.

Up to €610 today so I bit the bullet as prices are increasing again

He left it a bit ambiguous in his speech, he didn't say if the NORA levy is being reduced to 0 for everything or just motor petrol and diesel.

His speech:

"Carbon Tax

The rate per tonne of carbon dioxide emitted for petrol and diesel will go up from €41 to €48.50 from 12 October as per the trajectory set out in the Finance Act 2020.

This will mean that there will be an increase of just over two cent VAT inclusive per litre of petrol and diesel.

However, I also recognise the sharp cost of living challenges currently being faced by society, so the government is therefore proposing to offset this carbon tax increase with a reduction to zero of the National Oil Reserves Agency (NORA) levy.

The NORA levy which is collected at a rate of 2 cent per litre (VAT exclusive) will help offset the carbon tax increase which means that the price at the pump will not go up as a result of taxes or levies"

I think it's just Petrol and Diesel

serious profiteering by oil companies and governments so!

They have been dropping slowly for the last month but cant see them ever going back to what they were.

There’s a few more cent to go for oil drops yet. But I would think that demand will start rising which may well negate or even push prices the other way. I’m going to order in the next 3 days and take my chances.

Yep, the Saudis seem to be backing the Russians on the Ukraine war, they meet in Vienna tomorrow to discuss

Yep I did, 750 litres for 907. That’s the best price it’s been here for a long time. Weather getting colder and advancing towards Christmas will see a bump in demand anyways so I’d say it’s up and up now. Whoever thought kerosene would cost more in august than October, nuts the way things have gone.

500L up 20euro from yesterday in Corrib Oil brings it to 645euro. First rise since 30th Aug when it was 700euro for 500L having dropped to 625euro.

For anyone close by to it, Kerosene pump price at Casey's Circle K in Roscommon town was €1.20/l this morning when I was passing.

Ordered 500L kero last night @ €1.23 , and a €15 discount.

So, €610 for 500L.

Prices climbing today.

No surprise there. They are both as bad as each other.

Yep, those home heating oil sellers who say "the world has gone mad, and 'tis terrible indeed" delighted Saudi backing Russia.

Ordered yesterday 1.18 for kero n 1.31 for green per 1000l in Meath. Was 1.20 on cheapest oil website but when I rang to order yer man said 1.18. getting it tomorrow so I'll see if that ends up on the docket!

How much did they pay for 500l of kerosene?

Who was this with if you don't mind me asking?

I think I should put some posts on daily repeat. It is dreadfully easy to see what direction prices are going in and the margins for the distributors are miniscule. And if you simply look at the charts you will see swings up and down like a yo yo, but very much an upswing at present

So I'll repeat again - and show how there will be a fair jump in the next few days to well over €1300 at the very lowest.

Kerosene = Oil price + REFINING price + rate of exchange (divide by 159 litres in a barrel) + carbon tax + NORA + vat. The rest (ex vat) is distribution & retail

There may be a slight bonus from Wednesday as NORA is cut to zero and the higher carbon tax on kerosene doesn't take effect until May, but that will only temper the increase about to hit due to the refining going to $55 this week, oil jumping to to $97 today and the dollar stuck under €0.98c/$1.

It's really that simple. So using a calculator we are at 98c cost from refinery at todays pricing + 12 c NORA & Carbon = €1.10. + 13.5% vat = €1.25. That's before one cent for distribution & retail - lets give them 13c combined (+vat @ 13.5%) and you are at €1395

Basically if you can buy at €1250 for 1,000 litres or under €640 for 500L you will be doing well.

Here's links to the verification of prices

Caron tax rate - https://www.revenue.ie/en/companies-and-charities/excise-and-licences/excise-duty-rates/mineral-oil-tax.aspx

US Dollar https://finance.yahoo.com/quote/EURUSD%3DX?p=EURUSD%3DX

Refining margins (diesel & kero are near identical fuels) https://www.neste.com/investors/market-data/oil-product-margins#1c2a9653

Brent oil https://finance.yahoo.com/quote/BZ=F?

at least I give the reasoning and show why and how the prices are moving and not just spouting some barstool rubbish.

I said a couple of weeks ago it would move towards €1200 (which it did) and I'm saying today it is going to very rapidly move close to €1400 and have given the live links to show how that is borne out.

There was a guy posting on this thread last year, Darc19. Don't suppose you know him by any chance?

anyhow he was making the same "factual" predictions and he was good . .. according to himself. He even predicted a date last December that oil prices would fall and I know it's hard to believe but as it turned out he was wrong! Prices went up. He hasn't been seen since, well not using that account anyhow.