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Oil at $42 barrel - How much should petrol/diesel cost?

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  • 05-12-2008 5:32pm
    #1
    DonJose
    Registered Users Posts: 3,470 ✭✭✭


    Given that oil is now selling at $42 a barrel, oil prices have fallen about 70 percent since peaking at $147.27 in July, how much should a liter of petrol/diesel cost when VAT/Duty, production and retails costs are added in. Could we see petrol/diesel selling below €0.90.


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    #2
    mickdw
    Registered Users Posts: 23,367 ✭✭✭✭mickdw


    With the current taxes, I cant see prices going below 94, 95 cents. The other danger of these good prices are that the government might decide to add another few cents on in tax.


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    #3
    Lumen
    Registered Users Posts: 31,084 ✭✭✭✭Lumen


    Oil was at around this price in mid-2004.

    In June 2004, prices were:

    Unleaded
    100.4c

    Diesel
    91.6c

    Super
    109.6c

    ..according to AA Roadwatch.


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    #4
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    I got more than i put in, ie. put in €40 yo yo's and got 40 litre . something. So as long as it stays that way, i'm don't really mind. When it's goes over the €0.99 mark again i'll start to worry:D


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    #5
    Hogzy
    Registered Users Posts: 7,544 ✭✭✭Hogzy


    Cork stations still havnt gone below the 101.9 mark yet which is really annoying cos i want 60litres for €60 :p:p:p


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    #6
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    Hogzy wrote: »
    Cork stations still havnt gone below the 101.9 mark yet which is really annoying cos i want 60litres for €60 :p:p:p

    Come to the dark side:D



    Ie. Limerick:D


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    #7
    Zonda999
    Registered Users Posts: 5,533 ✭✭✭Zonda999


    Hogzy wrote: »
    Cork stations still havnt gone below the 101.9 mark yet which is really annoying cos i want 60litres for €60 :p:p:p

    Filled up in cork yesterday and it was only 99.9c. That said, a couple of miles down the road it was 102.9c:rolleyes::rolleyes:


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    #8
    Alun
    Registered Users Posts: 21,466 ✭✭✭✭Alun


    Hogzy wrote: »
    Cork stations still haven't gone below the 101.9 mark yet which is really annoying cos I want 60litres for €60 :p:p:p
    101.9 - 102.9 appears to be the norm around this neck of the woods too, i.e. Bray / South Dublin.


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    #9
    Danbo!
    Closed Accounts Posts: 3,942 ✭✭✭Danbo!


    DonJose wrote: »
    Given that oil is now selling at $42 a barrel

    According to RTÉ.ie... some now as low as $39.50

    Crude oil prices plunged below $40 to their lowest levels in nearly four years, as worse-than-expected jobs data in the US raised prospects of a severe fall in energy demand.

    In London, Brent North Sea crude slid to $39.50 a barrel, the lowest level since the January 2005. US light sweet crude for January slid to $42.00 in New York, also a near four-year low.

    Later, London Brent stood at $40.20, down $2.08 from Thursday's close. US crude was down $1.27 at $42.40 a barrel.


    Oil prices have plunged by more than two thirds since reaching record high points above $147 in July, pulled down by a widening global economic slowdown which affects demand.

    Earlier, the International Energy Agency lowered its projections for global oil demand in 2008-2013, foreseeing annual growth of 1.2% rather than the previous 1.6% in the face of a worldwide economic slump.

    In an announcement ahead of the US jobs data, the IEA said demand for oil products should climb from 86.2 million barrels a day in 2008 to 91.3 million in 2013, altering forecasts it had made in July.


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    #10
    Amtmann
    Closed Accounts Posts: 6,093 ✭✭✭Amtmann


    Hogzy wrote: »
    Cork stations still havnt gone below the 101.9 mark yet which is really annoying cos i want 60litres for €60 :p:p:p

    The Renault garage on the Model Farm Road was 99c for a few days early last week, but it's 101 again now.


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    #11
    Mickk
    Registered Users Posts: 1,001 ✭✭✭Mickk


    Good article about petrol prices here, http://www.ipia.ie/Issues/upload/What_determines_pump_prices.pdf

    Basically if petrol was free we would still get charged 63 cents duty plus transportation costs (~3c) and petrol forecourts overheads (~3c) plus the profit (~1c) so before petrol price even comes into it its up to 70c a litre (Hammertime might correct me here?)

    The best price around ireland now is 96.9 which has the petrol itself being 26.9 cents or 22.1 plus vat, at the current exchange rate, in order for petrol prices to reach 89 cents the price of a barrel would have to go down to around 29 dollars a barrel...


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    #12
    Mickk
    Registered Users Posts: 1,001 ✭✭✭Mickk


    Furet wrote: »
    The Renault garage on the Model Farm Road was 99c for a few days early last week, but it's 101 again now.

    Don't forget the government in all their wisdom increased the vat rate by half a percent which came into effect last monday.


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    #13
    Hogzy
    Registered Users Posts: 7,544 ✭✭✭Hogzy


    South Link Service station is .99c HURRAHHHHHH!!!!!!!!!!!!!!:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D


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    #14
    Hal1
    Registered Users Posts: 8,720 ✭✭✭Hal1


    Applegreen tyrconnell rd, 98.9c. :)


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    #15
    Dartz
    Registered Users Posts: 4,373 ✭✭✭Dartz


    Blanchardstown Renault... 108.9c for both :mad:

    Fortunately, the Hartstown Topaz does Petrol at 99.9, and Diesel at 101.9 IIRC


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    #16
    event
    Registered Users Posts: 16,052 ✭✭✭✭event


    .99 cent pretty much everywhere in dundalk, has been for the last week or so


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    #17
    Hogzy
    Registered Users Posts: 7,544 ✭✭✭Hogzy


    Nearly every station in cork apart from the usual rip offs like texaco in blackrock/mahon! Strange how there all basically the exact same price! I love it:D Happy christmas fuel tank... Actually no, ill change that, happy christmas wallet:p


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    #18
    L1011
    Registered Users Posts: 68,997 ✭✭✭✭L1011


    Dartz wrote: »
    Blanchardstown Renault... 108.9c for both :mad:

    Last time I tried to get fuel there I was told "the power is out, the pumps are off". Oddly enough the Power City in the same estate had power, as did the Blanch centre...

    Not enough to feed the meter I wonder ;)


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    #19
    Hal1
    Registered Users Posts: 8,720 ✭✭✭Hal1


    Texaco, Tower Rd Clondalkin 97c. Not sure about the diesel, it's only a newly refurbished garage so I'd imagine they'd be competitive. :)


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    #20
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    Most places around Limerick are at the 97 mark. It's great haha:D


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    #21
    Gary ITR
    Closed Accounts Posts: 16,801 ✭✭✭✭Gary ITR


    Once it stays below the euro mark I'm happy out tbh


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    #22
    NiSmO
    Closed Accounts Posts: 1,670 ✭✭✭NiSmO


    This post has been deleted.


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    #23
    Plug
    Registered Users Posts: 9,248 ✭✭✭Plug


    The desial should be cheaper than petrol.


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    #24
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 91,732 Mod ✭✭✭✭Capt'n Midnight


    there is a lot more trading in oil than there used to be
    used to pass through 3 traders on average now up to 20 and each takes a slice of profit


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    #25
    darc
    Closed Accounts Posts: 677 ✭✭✭darc


    Athy 94.9 for Diesel :D


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    #26
    Bandara
    Registered Users Posts: 3,282 ✭✭✭Bandara


    Plug wrote: »
    The desial should be cheaper than petrol.

    no it shouldn't


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    #27
    inode
    Closed Accounts Posts: 578 ✭✭✭inode


    over in the states im getting regular for $1.59 a gallon. only a few weeks ago it was like 2.20 a gallon. Back in october it as nearly 3.59 a gallon


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    #28
    mumhaabu
    Closed Accounts Posts: 1,031 ✭✭✭mumhaabu


    inode wrote: »
    over in the states im getting regular for $1.59 a gallon. only a few weeks ago it was like 2.20 a gallon. Back in october it as nearly 3.59 a gallon

    What state you in?


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    #29
    inode
    Closed Accounts Posts: 578 ✭✭✭inode


    in las vegas at the moment but have been travelling for the last two months from new york city the whole way over San Francisco


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    #30
    ibFoxer
    Registered Users Posts: 2,461 ✭✭✭ibFoxer


    Im delighted to say that im picking up diesel around Nenagh/Borrisokane for 98.9c a litre..... @ 56mpg average im happy out!!


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    #31
    S.I.R
    Closed Accounts Posts: 2,837 ✭✭✭S.I.R


    petrol/diesel should be 85-90 c per liter, diesel being the cheap seening as its quicker and cheaper to produce... :rolleyes:


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