plus1 Posted February 9, 2009 Share Posted February 9, 2009 I see that prices have started to creep back up. Big drop in price to the end of last year, hooray, then all of a sudden the prices start to creep back up. Two weeks ago it was 83.9/ltr now its upto 87.9. I wouldn't mind but oil is still low for a barrel. It won't be long before it's back upto £1 a litre:( Quote Link to comment Share on other sites More sharing options...
SimonT Posted February 9, 2009 Share Posted February 9, 2009 Indeed i noticed that as well!! Cost me £40 to fill my Astra that i drive to work!! But still must be reasonably "cheap" (this is compared to what the prices were last year!) to fill the Supra up??!! Havent done it for so long i wouldnt know how much it would cost with the prices at the mo!! Quote Link to comment Share on other sites More sharing options...
Animal Posted February 9, 2009 Share Posted February 9, 2009 We've been noticing that, too. 89.9 in Preston now. [edit] That's for 95 RON, too. Quote Link to comment Share on other sites More sharing options...
benkei Posted February 9, 2009 Share Posted February 9, 2009 Hardly suprising though... Quote Link to comment Share on other sites More sharing options...
jamesmark Posted February 9, 2009 Share Posted February 9, 2009 85.9p in Costa Del Goldthorpe. Tesco at Stairfoot roondabout (Barnsley) was 88.9p for 99ron. Quote Link to comment Share on other sites More sharing options...
gsportcars Posted February 9, 2009 Share Posted February 9, 2009 Notice this aswell in N.Ireland. Haven't heard anything about it on the news which strange. There usually seems to be some reason for the change in price direction but have heard nothing. Quote Link to comment Share on other sites More sharing options...
AlexM Posted February 9, 2009 Share Posted February 9, 2009 Not surprising with the exchange rates as they are, I just hope it doesn't go over £1/ltr again! Quote Link to comment Share on other sites More sharing options...
snake Posted February 9, 2009 Share Posted February 9, 2009 Petrol was about 82.9 , and a few weeks later is around 88.9 .Why? Quote Link to comment Share on other sites More sharing options...
Gaz Walker Posted February 10, 2009 Share Posted February 10, 2009 Prices have barely moved recently, its still at $39 a barrel. Not surprising with the exchange rates as they are, I just hope it doesn't go over £1/ltr again! Thats just it though, the pound is getting stronger and we are getting a much better conversion rate now than 2 weeks ago! Gaz. Quote Link to comment Share on other sites More sharing options...
AlexM Posted February 10, 2009 Share Posted February 10, 2009 Thats just it though, the pound is getting stronger and we are getting a much better conversion rate now than 2 weeks ago! Gaz. Is it? I haven't looked in a week or two but it was pitiful back then! Quote Link to comment Share on other sites More sharing options...
Gaz Walker Posted February 10, 2009 Share Posted February 10, 2009 Is it? I haven't looked in a week or two but it was pitiful back then! The dollar hit the low of 1.28 and was in the low 1.30's but it now at 1.48 Gaz. Quote Link to comment Share on other sites More sharing options...
AlexM Posted February 10, 2009 Share Posted February 10, 2009 That's good news (even if it's only a temporary recovery), aiming to go to America within the next couple of months. Petrol prices at my local Total garage don't seem to have moved (Thought I should put something on-topic in here ). Quote Link to comment Share on other sites More sharing options...
Supragal Posted February 10, 2009 Share Posted February 10, 2009 I noticed this yesterday. Not impressed!! I don't pretend to understand how it all works though. Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 10, 2009 Share Posted February 10, 2009 Prices have barely moved recently, its still at $39 a barrel. Thats just it though, the pound is getting stronger and we are getting a much better conversion rate now than 2 weeks ago! Gaz. You might be onto something there. I guess the oil companies use the financial futures markets to hedge exchange rates a small time into the future. When those futures contracts expire (they don't last more than a few months AFAIK), they have to take out a new contract (with a much less favourable price in this case due to the sharp drop in Sterling). It's like fixed rate mortgages. You can fix your rate for anything up to a few years at a time to protect you from high interest rates. Suppose that after you take out a fixed rate, interest rates rise sharply. You'd be protected from those rises, but if they remain high when the fixed-rate runs out, you'll have to negotiate another deal with a much higher rate. ... or they could just be coining it in and hope we don't notice.... Quote Link to comment Share on other sites More sharing options...
3LL Posted February 10, 2009 Share Posted February 10, 2009 99 ron here in Hull at tesco is now at 93p was 86p the other week! Quote Link to comment Share on other sites More sharing options...
SimonT Posted February 10, 2009 Share Posted February 10, 2009 Do you guys use Tesco Super compared to Shell Optimax then?? Im sure there has been a thread about that before but didnt really know the outcome of it! Quote Link to comment Share on other sites More sharing options...
imi Posted February 10, 2009 Share Posted February 10, 2009 I see that prices have started to creep back up. Big drop in price to the end of last year, hooray, then all of a sudden the prices start to creep back up. Two weeks ago it was 83.9/ltr now its upto 87.9. I wouldn't mind but oil is still low for a barrel. It won't be long before it's back upto £1 a litre:( Amazing isnt it. With Oil at less than $40 a barrel we were still happy to pay 84p to the ltr at the pumps...... This is what happens when they effectively desensitize us by increasing the price extortionately and are obviously allowed to do so with pretty much zero control from the govt. Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted February 10, 2009 Share Posted February 10, 2009 You might be onto something there. I guess the oil companies use the financial futures markets to hedge exchange rates a small time into the future. When those futures contracts expire (they don't last more than a few months AFAIK), they have to take out a new contract (with a much less favourable price in this case due to the sharp drop in Sterling). It's like fixed rate mortgages. You can fix your rate for anything up to a few years at a time to protect you from high interest rates. Suppose that after you take out a fixed rate, interest rates rise sharply. You'd be protected from those rises, but if they remain high when the fixed-rate runs out, you'll have to negotiate another deal with a much higher rate. ... or they could just be coining it in and hope we don't notice.... This is pretty much how it works. Oil prices quoted on the markets are for delivery 2-3 months down the road. Quote Link to comment Share on other sites More sharing options...
Guest tboy42 Posted February 10, 2009 Share Posted February 10, 2009 1.15 euro for 1litre of sp98 its too much!!!but i want my supra uk spec more than ever^^ Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 13, 2009 Share Posted February 13, 2009 "Price of petrol creeps up in 2009": http://news.bbc.co.uk/1/hi/business/7888458.stm Nothing we didn't already know. I was hoping the article would explain why prices are going up, but it doesn't. "After the dramatic drops in pump prices at the end of last year, it may seem unreasonable to criticise the new rise in prices, particularly when current prices are way below those in February 2008," said Edmund King, the AA's president. I disagree. Just because prices were sky-high in Feb 2008, that's no reason for them to creep up again now. The main factor must be the cost of crude, which is still very, very low. Quote Link to comment Share on other sites More sharing options...
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