2010 Petrol Prices

alibabba

The price of oil has dropped significantly lately, down from approx $87 to $75 dollars a barrell at the moment. It will be interesting to see any change at the pumps if it remains in the 70s ?


Today's average prices:
Petrol: 134.9c
Diesel: 124.9c
(pumps.ie)

whippet

alibabba wrote: »

The price of oil has dropped significantly lately, down from approx $87 to $75 dollars a barrell at the moment. It will be interesting to see any change at the pumps if it remains in the 70s ?


Today's average prices:
Petrol: 134.9c
Diesel: 124.9c
(pumps.ie)

have you considered the fact that the Euro is weaker, supply issues, refinement cost etc ..... the cost of a barrell of oil is only one of many factors that will influence the price you pay at the pump.

alibabba

You sound exactly like someone from one of the Irish Oil Companies !

As soon as there is a jump in the price of oil in the markets, overnite you will see it at the pumps (regardless of what the $/€ rate is)

But when the price of oil comes down, you rarely see the same effect at the pumps. You then question the companies who import the oil into Ireland, and they give you the excuse you just provided. I agree, there are more factors to it than just the price of the barrell, but it should work both ways when the tide ebbs and flows, should it not ?


Thats all Im suggestion with this thread.

whippet

three years ago petrol was around the €1.05 mark, in the mean time the cost of a barrell of oil jumped up to around the $150 mark, but you didn't see a trebling of the cost of a litre of petrol.

So it does work both ways.

Also, have you factored in the new carbon taxes and the rise in duty.

I have no affiliation with any oil company, quite the opposite, I have two petrol cars a 2L turbo and a 2.5l to keep going ... its an expensive hobby but it's worth it !!

alibabba

whippet wrote: »

three years ago petrol was around the €1.05 mark, in the mean time the cost of a barrell of oil jumped up to around the $150 mark, but you didn't see a trebling of the cost of a litre of petrol.

So it does work both ways.

Also, have you factored in the new carbon taxes and the rise in duty.

I have no affiliation with any oil company, quite the opposite, I have two petrol cars a 2L turbo and a 2.5l to keep going ... its an expensive hobby but it's worth it !!

Now I see why petrol is so dear !

whippet

alibabba wrote: »

Now I see why petrol is so dear !

well to be fair, my CO2 output would probably be in the region of someone driving a 1.5L diesel 25,000km per year but my annual motor tax bill is over five times as much ... not really fair, what happened to the polluter pays!!

91011

alibabba wrote: »

You sound exactly like someone from one of the Irish Oil Companies !

As soon as there is a jump in the price of oil in the markets, overnite you will see it at the pumps (regardless of what the $/€ rate is)

But when the price of oil comes down, you rarely see the same effect at the pumps. You then question the companies who import the oil into Ireland, and they give you the excuse you just provided. I agree, there are more factors to it than just the price of the barrell, but it should work both ways when the tide ebbs and flows, should it not ?


Thats all Im suggestion with this thread.

Its perception - the mind will always notice something that irks quicker than something that doesn't. - If you check pumps.ie they forecast prices for 2 weeks forward every week and they are fairly 100% correct both up and down.


Or put it another way 70c of the cost is attributable to duties, carbon tax & national oil reserves agency & vat on that.
10 c is for distrubitors & retailers to pay all thier costs and the balance less vat is the refined cost of fuel.

So if Oil was $10 a barrel, refined cost would still be about 17c per litre and retail price would be €1 a litre.
current refinery price is 44c per litre, add in taxes & duties 56.8c and retailer / distrubution costs (10c) plus 21% vat and price will be 1.32 in about 2 weeks.

sweetswing

have a look at the profits the oil companys are making. prices are a rip off here, no boubt about it.

ejmaztec

sweetswing wrote: »

have a look at the profits the oil companys are making. prices are a rip off here, no boubt about it.

Don't forget the nice government man's big slice of the pie.

P.C.

sweetswing wrote: »

have a look at the profits the oil companys are making. prices are a rip off here, no boubt about it.

The 'Oil Companies' do not operate in Ireland.
Yes, they make a lot of money, but that is from getting oil out of the ground, and refining it into petrol and diesel.

They then sell it to retail companies in Ireland who sell it to you.

The petrol stations in Ireland are not getting rich by selling petrol, they are getting rich by selling breakfast rolls.

Have a look at this:

Petrol prices in the EU.

and you will se that Ireland is somewhere in the middle.

jimmynokia

there was a programme on tv TRE i think the other night about this
and its ment to go up more as the euro is getting weak
still we paying to much and the goverment raking it in

omelette

I cannot believe there are actually some people here justifying the price of fuel!!!

First this worthless government (yes I know, the other crowd are no better) bales out the banks with tax-payer money. And since then it's been one tax increase after another - petrol has gone up 4 or 5 times already! I've just got car-tax - that has gone up as well!

Do people not realise that we have borrowed vast sums of money to bale out the banks, money which we have to pay back to the banks at huge interest - you couldn't make this sh1t up!!!!! This is the legacy we are passing onto our children. This financial system beggars belief.....

Someone mentioned the 1.35/L price when oil was $150/barrel. What wasn't mentioned was that anyone who drove any amount then could not fail to come across those scumbags checking lorry drivers (mostly) using vegetable oil for fuel - in other words, people were actually doing something about the situation!!! Now what do you see, petrol has exceeded this in many places, oil is almost half the price is was then, and there is bearly a grumble to be heard! Whereas it took just a few thousand OAP's to get the government to reverse their decision not that long ago...

I have to agree with what both the Germans & French said just recently - basically, the Irish are just a nation of SHEEP. We deserve everything we get...

patwicklow

its just gonna go up and up no stopping it some one has to keep the billionaire oil barons in it! i think its time to get out that old honda 50 outa my shed...

duckysauce

baa

Guy:Incognito

omelette wrote: »

I've just got car-tax - that has gone up as well!

Motor tax rates have been the same since 1st Jan 2009. So unless your car had a few months off the road between taxing your tax can't have gone up.

omelette wrote: »

Someone mentioned the 1.35/L price when oil was $150/barrel. What wasn't mentioned was that anyone who drove any amount then could not fail to come across those scumbags checking lorry drivers (mostly) using vegetable oil for fuel - in other words, people were actually doing something about the situation!!! .

Breaking the law is not "doing something about it", it's just breaking the law.

omelette wrote: »

Now what do you see, petrol has exceeded this in many places, oil is almost half the price is was then, and there is bearly a grumble to be heard! .

Would you not read others posts about the reasons for petrol prices?

AFAIK the duty is fairly static so that hasnt added anythign to the cost. Currencies fluctuate though and make the cost swing up and down. The Euro isnt doign well against the dollar so prices go up.

omelette wrote: »

I have to agree with what both the Germans & French said just recently - basically, the Irish are just a nation of SHEEP. We deserve everything we get...

You could try going to live in Germany or France, but you'd pay even more for your fuel there.

91011

omelette wrote: »

I cannot believe there are actually some people here justifying the price of fuel!!!

.

I don't think anyone is justifying the price - just explaining how its made up.

You don't like the high taxes, neither do I or most others, but its a fact of life. 80c of the litre price of petrol is static, even if oil was $0 and refinery costs were zero, the pump price would be 80c.

Fuel is used by most countries as a way of raising taxes - even in the USA prices have reached the equivalent of 70c per litre. The taxes on fuel are much lower there, but health insurance (av $6000 per family) and property taxes (av $7000 for standard home) are off the scale.

FunnyStuff

whippet wrote: »

three years ago petrol was around the €1.05 mark, in the mean time the cost of a barrell of oil jumped up to around the $150 mark, but you didn't see a trebling of the cost of a litre of petrol.

So it does work both ways.

Also, have you factored in the new carbon taxes and the rise in duty.

I have no affiliation with any oil company, quite the opposite, I have two petrol cars a 2L turbo and a 2.5l to keep going ... its an expensive hobby but it's worth it !!

Actually the last time the cost of a barrell of oil was around the $150 mark, we were paying what we are now, then it dropped and the price went down. I know there are varying factors in the price make up, but still the price we pay now seems way over the top compared to the cost of the barrell.

These companies make profits even the banks can only dream of.

91011

FunnyStuff wrote: »

Actually the last time the cost of a barrell of oil was around the $150 mark, we were paying what we are now, then it dropped and the price went down. I know there are varying factors in the price make up, but still the price we pay now seems way over the top compared to the cost of the barrell.

These companies make profits even the banks can only dream of.

Nearly all the oil companies in ireland are independent distributors / retails of fuel and whilst they carry the branding of major oil companies, they are not owned by them.

Retail fuel prices are the most transparent prices in the whole retail market. Every cent can be accounted for with 2 minutes checking on the internet.

It is extremely competitive and motorists will move their business if there is even 1c difference in price.

Fule stations MUST by law display their prices in a manner & size that can be easily seen & read by motorist before they enter the station - no other retail sector has this transparency.

As of yesterday at 6pm this is the breakdown of petrol pricing - it will be 2 weeks for the following to feed through to the pumps

Cost per litre of refined petrol from a refinery 41.3c (1.96 us dollars per us gallon divide by 3.8 to get to litres divide by rate of exchange 1.25 to get to euro) - prices as per NYMEX trading floor in new york.

Duty, Carbon tax, National oil reserves agency levy - total 56.4c (all figures from revenue.ie website)

Oil distributor & fuell retailer - TOTAL estimated mark up = 10c - this pays for distribution to stations, marketing, rent of stations, credit card commissions, upkeep of equipment, staff, rates , utilities etc.

Vat.

41.3c + 56.4c + 10c = 107.7
vat @ 21% = 129.24

There are some stations that will operate fuel as a loss leader to get people through their doors to buy other more profitable items.

In plain english - profit before costs on €50 fuel = €1.75
Profit on €3.99 chicken roll - €2.30

blue5

Anybody notice how many petrol stations seem to be advertising at exactly the same price of 134.9 for Petrol in the Dublin area?

I only really noticed it when Tesco (who are usually cheaper than the majority of stations by a few cent) were also advertising the exact same price.

Smacks of a 'controlled price' to me and I doubt it's in favour of the customer.

91011

blue5 wrote: »

Anybody notice how many petrol stations seem to be advertising at exactly the same price of 134.9 for Petrol in the Dublin area?

I only really noticed it when Tesco (who are usually cheaper than the majority of stations by a few cent) were also advertising the exact same price.

Smacks of a 'controlled price' to me and I doubt it's in favour of the customer.

The was an all party enquiry into petrol prices about 2 years ago - found that waht the industry said was 100% true and that no pric fixing took place.

As per my post above, margins on fuel are tiny, and most stations use fuel to get custom for their very profitable shop & deli business.

All the figures in relation to fuel prices are 100% transparent and are 100% verifiable via hundreds of sites on the internet.

at 1.34, the profit of a litre of petrol is about 5c - hardly a rip off.

btw - expect decent price drops this week as oil price reduction from 2 weeks ago feed into retail pricing.

GerardKeating

blue5 wrote: »

Anybody notice how many petrol stations seem to be advertising at exactly the same price of 134.9 for Petrol in the Dublin area?

I only really noticed it when Tesco (who are usually cheaper than the majority of stations by a few cent) were also advertising the exact same price.

Smacks of a 'controlled price' to me and I doubt it's in favour of the customer.

Prices near a Tesco Filling Station tend to gravitate towards the Tesco price, since a petrol station would not do well if priced much above them.

Also many outlet might sell petrol at cost price, so the uniformity in price might just indicate the same suppler.

rameire

you want cheap petrol.
this weekend in athy the prices have dropped by 10 cent on petrol and diesel.
p = 1.24
d = 1.17

king oil and maxol, not sure about the topaz or tougher stations

91011

rameire wrote: »

you want cheap petrol.
this weekend in athy the prices have dropped by 10 cent on petrol and diesel.
p = 1.24
d = 1.17

king oil and maxol, not sure about the topaz or tougher stations

the topaz station dropped diesel to 1.159

population of 7000 and 7 fuel stations fighting tooth & nail for business.