Cost of fuel to escalate?

[Buckman]

Due to a conflict in a region where many Western countries obtain oil, I wonder if this is going to result in an escalation of fuel prices which are already at another high? Luckily I filled up yesterday at £1.63 a litre as i only had just over half a tank. Always top up when i get close to half a tank left. Still cost me almost £70 for 40 litres.

Do you think that prices will escalate as no oil bearing countries are currently involved?

 

[Dustydog]

I suspect any Western power that has moved their Military to the Eastern Mediterranean will be seen as unfriendly by the oil producers.
yes expect a massive rise to say £2 per litre.
Buy plenty of thick coats and warm clothing. We will no doubt suffer many outages of gas and electricity this winter.
What a shame we are no longer self sufficient in power generation

 

[Ukdave2002]

I keep an eye on fuel prices mainly because we have oil heating where global price changes have a much quicker & greater impact on the cost of heating oil than they do on vehicle fuel. As you can note from the chart below, just about all the oil price reductions we saw this year have gone, and the trend is going north:

 

[otherclive]

If oil goes up gas will follow as they are linked. Prior to this conflict in Israel -Gaza oil was heading upwards as Russia and Saudi Arabia agreed a joint 2.5m barrels a day cut back. The intent being to move oil to $100 per barrel. They are both desperately looking to the future when oil consumption peaks, predicted to be around 2028-30

Earlier today looking at Gridwatch UK I noted that wind was providing our biggest supply. Gas was very low but coal was being used. Could it be that the coal provision was cheaper than gas? Currently wind is at 38% and solar at 4%, coal t 4%. No wonder the OPEC-+ are getting worried.

Damage to the Finnish Baltic gas pipeline won’t have helped either.

Edit. IEA predicts peak oil consumption 2028-30. Text changed v

 

[Dustydog]

Morrisons supermarket have announced “ Spend £35+ in store and get 5o off a litre of fuel”.
Better than a kick

 

[RogerL]

Morrisons supermarket have announced “ Spend £35+ in store and get 5o off a litre of fuel”.
Better than a kick

Having put their pump prices up so they're 4p/litre more than nearby Asda and Sainsbury's it's not much of a deal !!

 

[Beachball]

At Tesco supermarket yesterday i got diesel at £1.61 a litre i was around 3/4 a tank put in £30 for 19 litres .

 

[Buckman]

According to sources the cost of fuel has increase by about 25p over the past 3 months so nothing to do with conflict in the Middle East. Not sure what has caused this surge unless production has been decreased by "X" amount of barrels by some countries?

 

[otherclive]

According to sources the cost of fuel has increase by about 25p over the past 3 months so nothing to do with conflict in the Middle East. Not sure what has caused this surge unless production has been decreased by "X" amount of barrels by some countries?

Production was reduced by OPEC+ and more recently Russia and Saudi Arabia announced a further cut back to try and get the price to $100 a barrel. Russia want the cash to support its war, SA to fund massive infrastructure projects to diversify their economy after global demand for oil turns downwards; forecast for 2030 if not before.

 

[Parksy]

At Tesco supermarket yesterday i got diesel at £1.61 a litre i was around 3/4 a tank put in £30 for 19 litres .

We don't need reports on fuel costs per litre in various parts of the country, thanks.

 

[ProfJohnL]

The price variation in crude oil prices is politically motivated, and I think it's still highly likely the various conflicts in Eastern Europe and now developing in the Arabian areas both of which are significant oil/gas producing regions will impact oil prices upwards.

 

[GUMPY]

I'm enjoying my CaMC fuel card.
3ppl off diesel provided it's not from a supermarket.
However Morrisons will supply my next tank full as it's 5ppl off and locally they haven't increased their price.

 

[Buckman]

I'm enjoying my CaMC fuel card.
3ppl off diesel provided it's not from a supermarket.
However Morrisons will supply my next tank full as it's 5ppl off and locally they haven't increased their price.

Actually it is 4p off a litre for diesel and unleaded. I think it is 6p off is using Super?

 

[GUMPY]

Actually it is 4p off a litre for diesel and unleaded. I think it is 6p off is using Super?

I think that's the old card rates which is no longer available to newbys. The new one released this year is 3ppl off diesel and 0ppl on petrol. Still £1.50 a tank full is not to be sneezed at.

 

[Buckman]

I think that's the old card rates which is no longer available to newbys. The new one released this year is 3ppl off diesel and 0ppl on petrol. Still £1.50 a tank full is not to be sneezed at.

Apologies as we have the old Fuelpecker card which is better value. On a fill up from almost empty I can save over £3.00

 

[Hutch]

I think that's the old card rates which is no longer available to newbys. The new one released this year is 3ppl off diesel and 0ppl on petrol. Still £1.50 a tank full is not to be sneezed at.

I can save that much on fuel if I don't accelerate too quickly. But I don't.

 

[davyayr]

I have a Costco membership. It's about £35 a year or so.

Diesel is 8p/ltr cheaper than local supermarkets, currently.

Nearly £6 a tank.
Fuel cards are carp

Hope this helps

We don't need reports on fuel costs per litre in various parts of the country, thanks.

Why's that Parksy. Surely helping fellow members is part of the reason for this site. 🤔

 

[Parksy]

Why's that Parksy. Surely helping fellow members is part of the reason for this site. 🤔

Because this thread, like similar threads before it, could descend into a series of posts giving details of fuel prices in various locations throughout the UK.
How does it help a person living and working in their home location to be made aware that fuel in a certain supermarket maybe 200 miles way was 2p per litre cheaper or dearer than in their locality when someone happened to fill up there ?
It's meaningless to the average forum members and any further such posts will be deleted.

 

[Buckman]

I can save that much on fuel if I don't accelerate too quickly. But I don't.

Most times I don't accelerate too quickly, but sometimes you need to give the accelerator foot to clear out the cobwebs! In the past year we save about £45 over 7500 miles so not really a big savings, but every little bit counts!

 

[Buckman]

Why's that Parksy. Surely helping fellow members is part of the reason for this site. 🤔

There is an app called "Petrol prices". Download it onto your phone for up to date petrol prices in your area which is why we don't need posts on petrol prices as per Parksy's explanation.

 

[otherclive]

There is an app called "Petrol prices". Download it onto your phone for up to date petrol prices in your area which is why we don't need posts on petrol prices as per Parksy's explanation.

Yup, the last thread went on for aeons, sometimes with hourly posts of prices. My view of fuel prices are they are what they are and knowing the price 200 miles away is irrelevant. The apps can be useful but in our area we have “Ryanair” type pricing as it changes throughout the day, and between weekdays and weekends. Hutch has the best approach fir economising. 👍

 

[RogerL]

Because this thread, like similar threads before it, could descend into a series of posts giving details of fuel prices in various locations throughout the UK.
How does it help a person living and working in their home location to be made aware that fuel in a certain supermarket maybe 200 miles way was 2p per litre cheaper or dearer than in their locality when someone happened to fill up there ?
It's meaningless to the average forum members and any further such posts will be deleted.

The petrol prices website does the job much better than any forum ever could.

 

[GUMPY]

I have a Costco membership. It's about £35 a year or so.

Diesel is 8p/ltr cheaper than local supermarkets, currently.

Not much use to me nearest CostCo is 75 miles away the next nearest 125 miles away.
There is one 55 miles away but there is the Bristol Channel in the way.
Plus I seem to remember I'm no longer eligible for membership.

 

[Hutch]

Not much use to me nearest CostCo is 75 miles away the next nearest 125 miles away.
There is one 55 miles away but there is the Bristol Channel in the way.
Plus I seem to remember I'm no longer eligible for membership.

You should be able to carry on your membership even if you have retired or changed, profession.

 

[otherclive]

Not much use to me nearest CostCo is 75 miles away the next nearest 125 miles away.
There is one 55 miles away but there is the Bristol Channel in the way.
Plus I seem to remember I'm no longer eligible for membership.

My son stopped work in spring 2020 and still uses Costco. I don’t think they would turn away business from an existing member.