Upcoming fuel hike.

jimmynokia

Most of you must know that a fuel hike is on the way.
Can we actually do anything or will the government take the hit.

Or is it a case of sitting back and been economically raped AGAIN!

http://www.independent.ie/national-news/price-of-petrol-to-reach-alltime-high-3203386.html

Conor Faughnan said a few weeks back there would be as much as a 10 cent drop ,yet we have to see it.

Agent_47

See petrol down my way at 167.9 or 168 a litre so its a coming.

jimmynokia

Government urged to cut fuel hike http://t.co/SZJiUjt0

Nanazolie

Saw the petrol at 1.70€ this morning. I feel so lucky I can cycle to work

ejmaztec

jimmynokia wrote: »

Government urged to cut fuel hike http://t.co/SZJiUjt0

I don't recall any government ever having reduced its tax cut when urged by anyone to do so, and I can't see anything changing on that score, especially now. They'll just plod on regardless.

Gingernuts31

The government don't really care that there are some people out there who go without food sometimes so they can pay their bills and petrol to get to work for min wage. Hell would freeze over before the governemnt tries to help people with rising fuel costs. Sure we have oil off the coast of cork and they will prob sell that on at dirt cheap price just so they don't have to bother with it.

Lplated

Govt could reduce the taxes and levies on fuel, but they would then need to make up that loss of income elsewhere - through raising income tax or other taxes.

If there is a plus, rising fuel prices may force people to use more public transport, walk to local shop and be more economical in their use of private transport - assuming those options are available to them of course.

Gingernuts31

I agree with people that can should walk to local shop, post office, whichever. I work in a shop and there are locals in my town that live no more than 5 mins walk and they drive to the shop.

emereld

Gingernuts31 wrote: »

I agree with people that can should walk to local shop, post office, whichever. I work in a shop and there are locals in my town that live no more than 5 mins walk and they drive to the shop.

Those days may be numbered for them with the ever rising price of fuelling our vehicle's .
Personally I have had enough but when did that ever change a darn thing.

jimmynokia

Gingernuts31 wrote: »

I agree with people that can should walk to local shop, post office, whichever. I work in a shop and there are locals in my town that live no more than 5 mins walk and they drive to the shop.

If thats an option ie ..The government want us to spend ,hiking prices,inventing new taxes which they continue to do ,is only making people not spend.

gerryk

Lplated wrote: »

Govt could reduce the taxes and levies on fuel, but they would then need to make up that loss of income elsewhere

It is entirely possible that a reduction in fuel taxation would increase spending, not reduce it. I know many, myself included, who have reduced our fuel spend hugely because we simply can't afford it.

Captain Chaos

Lplated wrote: »

If there is a plus, rising fuel prices may force people to use more public transport, walk to local shop and be more economical in their use of private transport - assuming those options are available to them of course.

Even in Dublin public transport is not an option for me. I can get 2 weeks worth of fuel to and from work for the same price as a weekly ticket to work. Public transport does not operate early enough or is it regular enough for me to switch. That and the fact it's raining constantly, there there was only 4 days this month so far with no rain and 5 last month.

Even if fuel went to €2:50/L I would not give up the car.

Katunga

For every 5c the fuel goes up at the pumps almost 3c of the 5c is tax and duty. Its mad so even more money for the government.

sandin

Katunga wrote: »

For every 5c the fuel goes up at the pumps almost 3c of the 5c is tax and duty. Its mad so even more money for the government.

Nope - Excise Duty, Carbon tax and NORA levy are all fixed. The only tax that is not fixed is VAT. Every 5c that fuel goes up, 1c is for government. However if oil was free, you'd still be paying about 92c per litre of unleaded and about 82c for a litre of diesel.

Le_Dieux

Few weeks ago, Faughnan (sp?) issued a statement that the pump price should drop by 10c/litre, yet the next day, a barrell of oil rose by $5


Then he was saying last Thursday that the pump price would rise within the next week, Last weekend some pumps put their price up...I saw 1.719 for petrol in Cookstown Ind. Est. last Monday.

I'm not blaming Faughnan for the increases, but I would think he would be better off not forecasting at all.

sandin

Le_Dieux wrote: »

Few weeks ago, Faughnan (sp?) issued a statement that the pump price should drop by 10c/litre, yet the next day, a barrell of oil rose by $5


Then he was saying last Thursday that the pump price would rise within the next week, Last weekend some pumps put their price up...I saw 1.719 for petrol in Cookstown Ind. Est. last Monday.

I'm not blaming Faughnan for the increases, but I would think he would be better off not forecasting at all.

Considering prices rise and fall at about the same time all over Europe, I think its unfair to blame Faughnan:p

From my own studies over the years I find the following

Changes in oil price take 12-14 days to reach the pumps (up and down despite what many would think - your brain will always notice price rises quicker than price drops)

Changes in currency take 3-4 days to reach the pumps as fuel is paid for "at sight" in US Dollars - e.g. once the fuel hits the tanks in the port it has to be paid for, so a exchange rate change like we saw about 4 weeks ago from $1.26 to $1.22 hit about 2.5c of the forecast price drop.

jimmynokia

180 in two weeks ffs :mad:

Procrastastudy

Get a smaller more fuel efficient car.

jimmynokia

Procrastastudy wrote: »

Get a smaller more fuel efficient car.

180 A litre is not efficient

brinty

Tis ridculous situation altogether..
Prices raise at pump as soon as they hear of increased cost in barrells by 5-10c a litre
Prices decrease at a much slower rate as the the price of a barrell decreases..maybe 1c a week
my advice shop around for your fuel..
i drive about 500-600 miles a week and in parts of dublin there's a 6c difference between diesel at different stations..i know of a topaz at 1.60, maxol a mile away 1.58, esso two miles further at 1.56...i know where i get it..and then some discount places you can get at 1.53....

Gov't will lose tax and excise soon as green diesel is being cleaned and sold as white diesel, so maybe they might have to rethink it's policy on taxes etc!!!

I forecasted this when they changed the tax rates on cars a few years back, based on carbon emissions...that there would be massive increases at the pumps and consumption would collect more taxes..how right i was

average_runner

Lplated wrote: »

Govt could reduce the taxes and levies on fuel, but they would then need to make up that loss of income elsewhere - through raising income tax or other taxes.

If there is a plus, rising fuel prices may force people to use more public transport, walk to local shop and be more economical in their use of private transport - assuming those options are available to them of course.

Why would they need to make up the lost ?
Surely if they just don't tax the increase there be no lost

Le_Dieux

sandin wrote: »

Considering prices rise and fall at about the same time all over Europe, I think its unfair to blame Faughnan:p

From my own studies over the years I find the following

Changes in oil price take 12-14 days to reach the pumps (up and down despite what many would think - your brain will always notice price rises quicker than price drops)

Changes in currency take 3-4 days to reach the pumps as fuel is paid for "at sight" in US Dollars - e.g. once the fuel hits the tanks in the port it has to be paid for, so a exchange rate change like we saw about 4 weeks ago from $1.26 to $1.22 hit about 2.5c of the forecast price drop.

I'm not blaming Him . All I am saying is that ( it appears) that as soon as there is a whiff of an IMMINENT increase, the pump price shoots up almost instantly. He was the one last week on radio highlighting the imminent increase. He also was the one last month spouting off about the imminent (?) Decrease of 10c/litre, only for the barrel to rise by approx. $10/barrel the very next day.

I am also sorry, but I work for myself as a courier, and watch fuel prices like a hawk. You can say what You like, but for me, the garages hike the prices as soon as they can, and NO, it is never dropped within the specific time. If that was the case, why is it now that fuel is the highest ( at the pump ) it has ever been while the barrel price is still $30 short of it's peak about 2 years ago? Yes the govt slapped on increases ( if I am not mistaken the majority of the govt increases were added by the late Brian Lenehan R.I.P.), and yes the € has decreased in value, but so much as to affect the rocketing price of a litre of fuel? If it were $147/barrel today, I would think we would all be paying over €2/litre - and if and when that happens, then watch the inflation rate shoot up!

I found the note ( by You I think) whereby if the fuel was free, we would still be paying 92c/litre.......time this govt did something to help the economy.

sandin

jimmynokia wrote: »

180 in two weeks ffs :mad:

Never believe what the hysterical daily muck says - From what I see, we are at a top in the current cycle.

Le_Dieux wrote: »

I'm not blaming Him . All I am saying is that ( it appears) that as soon as there is a whiff of an IMMINENT increase, the pump price shoots up almost instantly. He was the one last week on radio highlighting the imminent increase. He also was the one last month spouting off about the imminent (?) Decrease of 10c/litre, only for the barrel to rise by approx. $10/barrel the very next day.


I found the note ( by You I think) whereby if the fuel was free, we would still be paying 92c/litre.......time this govt did something to help the economy.

I know you're not blaming him - but it was funny haow within hours of his proclamation of lower prices, the oil prices shot up.

By the way - on www.Pumps.ie they have trend lines showing how prices go up / down. If you cross these tendlines with oil prices you will see factually that prices go up and down in the same time frame. Everyone LOVES to blame the retailer, but the fuel retailer makes the least of anyone in the whole chain.
One of the guys who runs it also forecast prices 2 weeks in advance and is always within a cent of the pricing.

Sully

In my experience, most stations increase it the day they hear of a price hike. When the AA announced this and it was all over the news, that day most stations upped their price. One twice in the one day. At the very least in Waterford I don't see a decrease as quick as I see the increase.

I cant understand how Pumps is showing otherwise or the AA suggesting otherwise. A lot of people get petrol frequently and shop around like me. They spot the trend for themselves.

sandin

Sully wrote: »

In my experience, most stations increase it the day they hear of a price hike. When the AA announced this and it was all over the news, that day most stations upped their price. One twice in the one day. At the very least in Waterford I don't see a decrease as quick as I see the increase.

I cant understand how Pumps is showing otherwise or the AA suggesting otherwise. A lot of people get petrol frequently and shop around like me. They spot the trend for themselves.

But the AA announce it as it is happening as they use the dublin port pricing. On pumps.ie they use international pricing. The current jump in prices was reported on pumps.ie in first week August.

The latest report says that the US dollar has weakend by 3% and this will mena prices won't go much further than they are today as currency movements hit pirces almost immediately - this tiem to the consumers advantage.

As a product, the price of fuel is the most transparent pricing of any product in that you can see the real time raw material cost, the real time refinery costs, the exact duty costs and the vat value on various websites and the balance being the amount left for retailer and distributor - that balance is about 10c.

kodoherty93

The increase is due to the US euro exchange rate. The US dollar has increased in value by 16.5% in a year to the Euro. Although fuel is dear its still cheaper than the UK and the continent

Le_Dieux

kodoherty93 wrote: »

The increase is due to the US euro exchange rate. The US dollar has increased in value by 16.5% in a year to the Euro. Although fuel is dear its still cheaper than the UK and the continent

On the cheaper than the UK bit: I heard this week on the radio that the cross-border trade has totally collapsed because there is practically no difference in the pump price between here and there - IE, doesn't pay the Northern car to travel here to fill up anymore.

ytpe2r5bxkn0c1

Le_Dieux wrote: »

On the cheaper than the UK bit: I heard this week on the radio that the cross-border trade has totally collapsed because there is practically no difference in the pump price between here and there - IE, doesn't pay the Northern car to travel here to fill up anymore.

Nonsense. You should see all the NI regs at the pumps in Dundalk today. I've just spent 4 days in NI and fuel is incredibly expensive up there. Euro to £ rates makes it even cheaper for them to buy in ROI right now.

NIMAN

I also live near the border and the petrol stations have definitely got quieter. Of course NI drivers are still coming to RoI to fill up, but not in the same numbers as they used to.

I'd say that those who live within maybe 10miles of the border still do, but maybe further away don't bother any more. I used to see guys coming in and filling their tank, then maybe 15 jerry cans in the boot of the car too. I always used to think this was an extreme thing to do if you could get to the station easily enough, so these people maybe lived 20 or 30 miles from the border and bought in bulk to save no. of trips needed.

Le_Dieux

Allen Freezing Senselessness wrote: »

Nonsense. You should see all the NI regs at the pumps in Dundalk today. I've just spent 4 days in NI and fuel is incredibly expensive up there. Euro to £ rates makes it even cheaper for them to buy in ROI right now.

It may be nonsense, but I don't write the script for RTE...I am only passing on what they said during the week. Also, I also heard that there is ructions in Germany as thweir pump price has passed the €1.70/ltr.

Le_Dieux

sandin wrote: »

But the AA announce it as it is happening as they use the dublin port pricing. On pumps.ie they use international pricing. The current jump in prices was reported on pumps.ie in first week August.

The latest report says that the US dollar has weakend by 3% and this will mena prices won't go much further than they are today as currency movements hit pirces almost immediately - this tiem to the consumers advantage.

As a product, the price of fuel is the most transparent pricing of any product in that you can see the real time raw material cost, the real time refinery costs, the exact duty costs and the vat value on various websites and the balance being the amount left for retailer and distributor - that balance is about 10c.

Not so sure about this. You also made a prediction back in early July that major news coming out of China was going to have a positive effect ( for the consumer ) on the price of oil...see http://www.boards.ie/vbulletin/showthread.php?p=79596975 message # 43.

Still waiting for this 'news' to bring the price of a barrel of oil down:rolleyes: