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Petrol At £1 A Litre (again)

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I tend to keep an eye of this site, as a general indication of inflation.

http://www.petrolprices.com/

needless to say in january petrol was 92p or so, march 95p, today its 99.8p and im sure within a week it will be a quid.

..yes it has been there before... but this time its different... it will carry on going up, £1.10 by september and £1.15 come the winter (again).

deflation? not likely :rolleyes:

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Currency is being debased against other currencys. Commodities are quickly gaining value. Natural Gas is a good play if you want to speculate on rising prices, it looks to have hit a double bottom today.

Barrels of Oil are as fungable as gold to commodity traders, they could really send it to the moon. With increased taxes, a decreased pound, weakened currency and during a recession, its very worrying.

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this is where the goverment could force inflation on us. chuck on a couple of pence every company raises prices. strangely alot of the oil and gas companies havnt really been increasing on the footsie even with rises from $37 to $60+ barrels

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From my weekly petrolprices.com emails - the cheapest in my area of Leicester was at a low of 82.9 in mid Jan and is now 95.9 on 27 May, an increase of just over 15%.

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I tend to keep an eye of this site, as a general indication of inflation.

http://www.petrolprices.com/

needless to say in january petrol was 92p or so, march 95p, today its 99.8p and im sure within a week it will be a quid.

..yes it has been there before... but this time its different... it will carry on going up, £1.10 by september and £1.15 come the winter (again).

deflation? not likely :rolleyes:

In terms of inflation it matters not what the price of petrol is, what matters is what the price is compared to 12 months ago.

June 2008 was when petrol prices peaked at £1.50, so petrol is still 1/3 cheaper than 12 months ago, and this is hiding inflation in other areas.

Of course, fuel prices dropper of pretty quickly after that, dropping well over a third in 6 months, bottoming out in January 2009.

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Guest มร หล&#3

How much is diesel now?

Costs me about £23 to fill the pick-up here.

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Good.

I bought a diesel car just before it started to go down and have been wishing i'd brought the ludicrously fast 330hp petrol one instead for the last 12 months.

oh i love this game!!

bmw m3???

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but inflation is negative don't you knoq

It is going up a further 2 per cent in September. Nothing to do with the price of oil - which is lower than it was this time last year - it's the lovely Alistair Darling putting an additional 2 pence on fuel duty. It's then going to rise EVERY YEAR. Even if the price of oil does not increase, fuel will rise every year because of the robbing b4stards, sorry, I mean delightful government.

For every pound's worth of gas you put in your tank, about 70p is government taxation (fuel tax and VAT) and 30p is for the fuel itself.

That's 30p of fuel for every pound you spend at the pumps!

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Guest มร หล&#3
Yes, they have some very nice stuff. That is my particular favourite. Nobody can top the Italians for classic style in any vehicle.

How much is it? :ph34r:

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Guest มร หล&#3
Around €750.

Oh.

I was thinking £2500 or something mental.

Wouldn't mind one of those now I'm no longer a fat b@stard.

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In terms of inflation it matters not what the price of petrol is, what matters is what the price is compared to 12 months ago.

why 12 months? seems arbitrary.

June 2008 was when petrol prices peaked at £1.50

:lol: £1.50

where the hell were you buying it from?

http://www.theaa.com/motoring_advice/fuel/...eview-2008.html

2008-fuel-prices-with-oil.gif

so petrol is still 1/3 cheaper than 12 months ago,

judging by the AA graph above, it's down by about 12% in your arbitrary time period.

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It is going up a further 2 per cent in September. Nothing to do with the price of oil - which is lower than it was this time last year - it's the lovely Alistair Darling putting an additional 2 pence on fuel duty. It's then going to rise EVERY YEAR. Even if the price of oil does not increase, fuel will rise every year because of the robbing b4stards, sorry, I mean delightful government.

For every pound's worth of gas you put in your tank, about 70p is government taxation (fuel tax and VAT) and 30p is for the fuel itself.

That's 30p of fuel for every pound you spend at the pumps!

Does the price that we are required to pay for fuel have ANY relation to crude oil prices....?

...or is it just pegged by some cleverarse economist thieving swine to screw as much as possible out of us all?

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Does the price that we are required to pay for fuel have ANY relation to crude oil prices....?

...or is it just pegged by some cleverarse economist thieving swine to screw as much as possible out of us all?

It's mostly tax - price at the pump has little to do with the cost of the fuel, distribution etc. We've tolerated ridiculous fuel prices for years now - not sure why there was all the fuss last year - I guess £1 was a psychological barrier. If you're tight enough to worry about the price of petrol (still the cheapest <edit>most practical*</edit> way to travel by at least 3x even in my 26mpg at best car) then get one of those 70mpg clatter-boxes. Otherwise, get over it :-)

*Best cover myself before someone expects me to carry equipment and paperwork on a bike or walk 30 miles on a 1 hour SLA call out.

Edited by impatient_mug

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are the price of petrol included in RPI/CPI?

If so with food prices still going up and lower mortgages highs out the calculation later in the year, are we gtd to get RPI back up at 5% later in the year?

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