TODAYS CHEAPEST PETROL THREAD!!

TestTransmission · 21-11-2008 8:42pm

apparently my local station,applegreen in Corbally is down to 100.8

Azphyxi8 · 21-11-2008 11:35pm

Emo on Clare St are 100.9

acalmenvoy · 23-11-2008 3:39am

Azphyxi8 wrote: »

Emo on Clare St are 100.9

Nice one, thats where my money is going from now on...

Bobo78 · 23-11-2008 3:48am

acalmenvoy wrote: »

Nice one, thats where my money is going from now on...

Wheres Claire St.?

highlydebased · 23-11-2008 11:51am

Bobo78 wrote: »

Wheres Claire St.?

Clare Street is that long road after you cross over the roundabout coming from Charlottes Quay, heads out towards the parkway.

Bobo78 · 23-11-2008 3:09pm

Neon-Circles wrote: »

Clare Street is that long road after you cross over the roundabout coming from Charlottes Quay, heads out towards the parkway.

O I think I know now, thanks man.

Mc Love · 23-11-2008 11:08pm

Does it register that when you are driving to and from petrol stations for cheap petrol, you are using petrol to get there...so like if someone lived in Raheen and there was cheaper petrol by a few cents somewhere in town....it doesnt make any sense driving into town to get petrol there as you would have to drive back!?

acalmenvoy · 24-11-2008 2:52am

sparkysrovers wrote: »

Does it register that when you are driving to and from petrol stations for cheap petrol, you are using petrol to get there...so like if someone lived in Raheen and there was cheaper petrol by a few cents somewhere in town....it doesnt make any sense driving into town to get petrol there as you would have to drive back!?

Probably right, but we 'Irish' need to show retailers that we are willing to go the extra mile for good value, long enough we've been happy to take price fixing and price controls. I, for one will travel the extra few miles to fill up in Clare St, and hope it leads to better competition.

Mc Love · 24-11-2008 4:59am

But you are just wasting petrol to go there so it hardly makes any economical (sp?) sense.

yaledo · 24-11-2008 12:06pm

Here's a handy rule of thumb if you want to know whether it's worth your while.
Go 1 mile out of your way for every 1 cent difference in the price of petrol.
For each of the following statements that applies to you, you can double the distance that will give you value for money for every 1 cent difference, and come up with your own rule of thumb.
a) your fuel tank takes 80 litres.
b) the journey doesn't involve city traffic.
c) your fuel economy is very good.
d) you're sitting at home twiddling your thumbs for half an hour anyway.
e) you resent paying people to rip you off.

For me personally: b), c) and e) are true, so I'll multiply it by 2x2x2 and go 8 miles out of my way for every cent in the difference.

If you don't believe me, read on:

The average fill is 40 litres.
The average car gets about 8 miles on a litre of petrol. So at about €1 per litre, that means it costs about 25c to make a detour of a mile (including the return leg of the journey).

So to go 1 mile out of your way (and back again) You'd need a price difference of 25c for the fill - that's just over half a cent per litre.

Including the extra fuel used to cross town, for a difference of 3c per litre [that's €1.20 for a full tank], I'd go to a petrol station 5 miles out of my way [and back again].

What happens If we factor in the 'opportunity cost' of your leisure time... Well first off - how much is your leisure time worth? Of course I can't speak for you, I would even have difficulty estimating the equivalent monetary value of my own leisure time.
However, I recently read an excellent study estimating the 'amenity value' of urban fringe forests in Ireland. According to other studies referenced by this study, a reasonable estimation of the money value of the average person's leisure time is one quarter of their hourly wage.
So lets estimate an hourly wage of a nice round number: €10. That give us an estimate of the value of the 'opportunity cost' of your leisure time of €2.50 per hour.
Let's say you drive 5 miles across the city to fill up, it takes you a total of 1 hour instead of the usual 20 minutes to fill up at your local station. That's an extra 40 minutes - worth about €1.60. Add in the €1.25 extra fuel used for the round trip, you'd want to save €2.85 on your fill -
So including the additional fuel used, and the estimated cost of your leisure time, to buy 40 litres of fuel, you'd need a difference of 7c per liter to get justify going 5 miles out of your way.

Of course all this depends on how valuable your free time is to you, how much you enjoy getting ripped off, how good your fuel economy is, how big your tank is.

There's a third factor however, which for me, personally, outweighs both the cost of fuel used, and the cost of my leisure time...
That is - I strongly resent being ripped off.
I think that some consumer association should put a colour advert in the local paper every week, with something like:
"The cheapest fuel in Limerick city this week is at xyz, please don't buy petrol anywhere else".

Like Acalmenvoy suggests, If we start paying attention, and the rip-off merchants find themselves with empty forecourts, it won't take them long to drop the price.

acalmenvoy · 24-11-2008 2:13pm

Wish I could have put it like that ^^^:D

Chong · 24-11-2008 2:24pm

1.01 texaco raheen

Mc Love · 24-11-2008 6:33pm

yaledo wrote: »

Here's a handy rule of thumb if you want to know whether it's worth your while.
Go 1 mile out of your way for every 1 cent difference in the price of petrol.
For each of the following statements that applies to you, you can double the distance that will give you value for money for every 1 cent difference, and come up with your own rule of thumb.
a) your fuel tank takes 80 litres.
b) the journey doesn't involve city traffic.
c) your fuel economy is very good.
d) you're sitting at home twiddling your thumbs for half an hour anyway.
e) you resent paying people to rip you off.

For me personally: b), c) and e) are true, so I'll multiply it by 2x2x2 and go 8 miles out of my way for every cent in the difference.

If you don't believe me, read on:

The average fill is 40 litres.
The average car gets about 8 miles on a litre of petrol. So at about €1 per litre, that means it costs about 25c to make a detour of a mile (including the return leg of the journey).

So to go 1 mile out of your way (and back again) You'd need a price difference of 25c for the fill - that's just over half a cent per litre.

Including the extra fuel used to cross town, for a difference of 3c per litre [that's €1.20 for a full tank], I'd go to a petrol station 5 miles out of my way [and back again].

What happens If we factor in the 'opportunity cost' of your leisure time... Well first off - how much is your leisure time worth? Of course I can't speak for you, I would even have difficulty estimating the equivalent monetary value of my own leisure time.
However, I recently read an excellent study estimating the 'amenity value' of urban fringe forests in Ireland. According to other studies referenced by this study, a reasonable estimation of the money value of the average person's leisure time is one quarter of their hourly wage.
So lets estimate an hourly wage of a nice round number: €10. That give us an estimate of the value of the 'opportunity cost' of your leisure time of €2.50 per hour.
Let's say you drive 5 miles across the city to fill up, it takes you a total of 1 hour instead of the usual 20 minutes to fill up at your local station. That's an extra 40 minutes - worth about €1.60. Add in the €1.25 extra fuel used for the round trip, you'd want to save €2.85 on your fill -
So including the additional fuel used, and the estimated cost of your leisure time, to buy 40 litres of fuel, you'd need a difference of 7c per liter to get justify going 5 miles out of your way.

Of course all this depends on how valuable your free time is to you, how much you enjoy getting ripped off, how good your fuel economy is, how big your tank is.

There's a third factor however, which for me, personally, outweighs both the cost of fuel used, and the cost of my leisure time...
That is - I strongly resent being ripped off.
I think that some consumer association should put a colour advert in the local paper every week, with something like:
"The cheapest fuel in Limerick city this week is at xyz, please don't buy petrol anywhere else".

Like Acalmenvoy suggests, If we start paying attention, and the rip-off merchants find themselves with empty forecourts, it won't take them long to drop the price.

Wish i had said nothing now, you have way too much time on your hands! LOL

Azphyxi8 · 26-11-2008 9:18am

99.9 At Emo on Clare St.

Also 99.9 at Maxol and Esso by the Groody Roundabout on the Dublin Rd.

angeldaisy · 26-11-2008 1:03pm

I paid 101.9 last night at Texaco by the South Court, then I went to my local garage (Ballyneety) and it was 113.9 unbelievable! People were still buying petrol there. Some people must have way more money than sense.