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Fuel Fluctuations?

  • 06-08-2019 11:26pm
    #1
    francie81
    Registered Users Posts: 1,412 ✭✭✭


    Hi

    Can someone please enlighten me to why fuel prices fluctuate by day, ie 1.40ltr up to evening time dropping back to 1.36ltr, am thinking their is a valid reason to this but I have just took notice of this and seemingly only from Circle K where I usually fuel up?


Comments

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Assuming taxation remains constant, the two most important factors effecting prices at the pumps are the costs of crude oil, and local market forces/competition.

    The average closing price this year is $57.43 a barrel, last year it was $64.90. Also, large pump owning companies can afford to drop prices more than small business due to the volume they sell.


  • #3
    Bikerman2019
    Closed Accounts Posts: 992 ✭✭✭Bikerman2019


    As with everything on sale anywhere. Prices can fluctuate due to supply and demand.


    There is a garage I know of that cuts the price of fuel at midnight in an attempt to pull in taxi drivers and the like. This will boost their coffee / snacks / other sales. It is also a security feature that there are a few people around which would discourage skangers.


    Could be same idea.


  • #4
    whiskeyman
    Registered Users, Registered Users 2 Posts: 12,564 ✭✭✭✭whiskeyman


    I heard that many places jacked up their prices the morning of the bank holiday weekend.
    Is there any regulation on the frequency pumps are allowed to change their prices?


  • #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    whiskeyman wrote: »
    I heard that many places jacked up their prices the morning of the bank holiday weekend.
    Is there any regulation on the frequency pumps are allowed to change their prices?

    I doubt regulations could be applied anymore than say regulations how often a shop can change the price of a can of coke. The profit on petrol/diesel is surprisingly small a few cent after tax, the majority of what you pay goes to Oil suppliers and to the Government.


  • #6
    Bikerman2019
    Closed Accounts Posts: 992 ✭✭✭Bikerman2019


    Dav010 wrote: »
    I doubt regulations could be applied anymore than say regulations how often a shop can change the price of a can of coke. The profit on petrol/diesel is surprisingly small a few cent after tax, the majority of what you pay goes to Oil suppliers and to the Government.


    Yep. Quite often the extra purchases are worth more to the garage than the petrol.


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  • #7
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Bikerman2019 wrote: »
    Yep. Quite often the extra purchases are worth more to the garage than the petrol.
    More than quite often. Invariably they rely on shop sales for profit.


  • #8
    skallywag
    Registered Users, Registered Users 2 Posts: 3,008 ✭✭✭skallywag


    Ty Millions Hoe wrote: »
    More than quite often. Invariably they rely on shop sales for profit.

    +1

    Petrol stations these days make their profit on the sales in the shop, not the fuel. It's been that way for quite a while.


  • #9
    tuxy
    Closed Accounts Posts: 14,983 ✭✭✭✭tuxy


    Sudden jumps are usually political instability or OPEC and other large sources pumping different quantities of oil to manipulate the market in their favour. That's for big jumps though, the smaller ones are usually more local.


  • #10
    Darc19
    Registered Users, Registered Users 2 Posts: 3,817 ✭✭✭Darc19


    whiskeyman wrote: »
    I heard that many places jacked up their prices the morning of the bank holiday weekend.
    Is there any regulation on the frequency pumps are allowed to change their prices?

    I usually find the opposite and prices fall a little. Certainly last weekend prices near to me went from 1.32 to 1.28 for diesel and back up on Tuesday.


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