How long ago was the last time you saw that? 99.9p at my local sainsbury.

1.06 still at my local station, but I expect it to drop soon.

Seems the world has rather a lot of oil knocking about. In the 80s we were told it would have run out by now!

£1.13 up here in Galloway, humph!

99.7 at Asda in Harrogate ..

It’s like mud tyres though. As soon as you take them off it rains. As soon as I buy a V8, petrol will jump to £1.50 per litre.

diesel still well over here in W Yorks 1.13 at my local.

diesel @ 100.9p /l today at Morrisons, Malvern, with 7p off voucher this week.

All Asda petrol stations are 99.7p until tomorrow.

Seems the world has rather a lot of oil knocking about. In the 80s we were told it would have run out by now!

I think – curiously – the price fall is actually a result of oil being harder and harder to get at. The US is trying to be self sufficient with its oil consumption, but to do that its having to exploit harder and harder to reach oil – such as the ultra-deep water drilling operations that resulted in the Gulf Oil Spill, or more effort intensive sources such as shale oil. It means that instead of it costing 1 barrel oil to extract 20 barrels its costing 1 barrel of oil to extract just 4. As a comparison in the north sea rigs might be in 50m of water and be drilling to depths of 3000m. Deepwater Horizon was in 1300m of water drilling to 10,600m. Opec is simply trying to upset the US’s self sufficiency drive by setting oil prices so low that costs the US less to import oil than produce it themselves.

Noticed that petrol was 99.7p in an Asda in Leeds yesterday evening, first time I’ve seen petrol under £1 in the time I’ve been driving.

instead of it costing 1 barrel oil to extract 20 barrels its costing 1 barrel of oil to extract just 4

There are a lot of places where you could reverse those numbers. I know of one platform with a $650/bbl lift cost 😯

Still missing the 20p off diesel at tesco I was getting with clubcard 🙁 That was like a personal time machine.

Having picked up a 1.0L Focus yesterday this is good news.

Well you needed some.

Haven’t got the foggiest idea how much petrol is, never bother to look, got a Nissan Micra K11 costs about £37 to fill and lasts a month. 😀

99.7p a litre for unleaded at Ipswich Asda yesterday. Sadly it is still 103.9 in Cambridge.

99.7 at Asda in Harrogate ..

You didn’t specify the currency ?

If it stays low I suspect the tax rises which where deferred in the past will be back

My local garage (BP) does a couple of days per week of cut price fuel, today was 103.9 for petrol and 105.9 for diesel.

Weren’t there rumours a few months ago that we’d be back to regular £1/litre prices and it never seemed to materialise, if anything it crept back up by 2-3p/litre.

“looks like we’d best get shut of that blood oil boys”

“seems a shame though, are you sure they can trace it back?”

“yep Japanese oil & Syrian oil are not even close”

“whats the plan?”

“sell it cheap for a week then publish a threat of possible skyrocketing prices”

“sure thing boss”

….or something like that.

Supply and demand.

One possible scenario is that, despite racking up huge losses, all the players hang tough for another year awaiting demand growth to eradicate the over supply situation. A second scenario is that OPEC + Russia cut production by 2 Mbpd sending the oil price back towards $100 / bbl. A third scenario is that US shale drillers succumb to gravity with drilling and production going into steep decline. And a fourth scenario is that momentous global events eventually catch up with production in Iraq, Saudi Arabia and Algeria sending production into a tail spin and the oil price spiralling upwards. It has always been impossible to forecast the oil price and it still is.

It’s just Asda “not doing Black Friday” chasing Morrisons doing a discount if you spend enough with them. Back up after the weekend.

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/12020218/asda-petrol-price-cut-black-friday-sales.html

Normal prices round Woking, not counting those two, 107 to 111 from what I’ve seen. Though it’s always 5p cheaper a few miles away over by Farnborough for some reason.

99p at Costco and 104p for Super unleaded. 102p for regular diesel.

Supply and demand.

It’s actually incredibly finely balanced, off the top of my head even with OPEC (well, Saudi) running with the taps fully open we’ll be back to supply=demand in late 2017/early 2018, only this time we’ll have had ~4 years of no investment which means production will lag behind the curve for a while leading to prices being back where they were fairly quickly.

PITA, as an industry we weren’t so badly hit by the recession, everyone still needs oil and plastic, a lot of projects got delayed or canceled but there was usually enough to keep ticking over. Now there’s nadda, zilch, zip, smeg-all. Less of a double dip recession, more like the ‘recovery’ was just a dead cat bounce for us before we fell of a cliff.

Looking at my car/bike spreadsheets, for petrol:

Early-1998 70ppl
Mid-2003 80ppl
Mid-2005 85ppl
Mid-2006 95ppl
Early-2007 95ppl
Mid-2009 100ppl
Mid-2012 140ppl
Mid-2013 135ppl

You can thank me for the petrol price drops, I’ve just bought my first diesel….. 😡

Petrol is still high in Peterboghorror.

107 ppl unleaded

Looking at my car/bike spreadsheets, for petrol:

😯

Was just about to make that face ^

b r – was that you taking a photo of the Asda 99.7p sign at the top of Whiteladies Rd in Bristol last Friday to brighten up the spreadsheet?

A good time to whack an extra 10p per litre tax on?

Diesel was 103.7p at Oldbury Asda yesterday. But, that said, it means you have to stop in Oldbury. Yeah… Nothing to see here, next!

$1.19 here (AUD) (57p)

Actually, less than that as my fuel card is topped up from my pre-tax earnings.

Looking at my car/bike spreadsheets, for petrol:

No need for your OCD spreadsheets for price history. 🙂

http://www.speedlimit.org.uk/petrolprices.html

It’s still too bloomin expensive. Whole Sale rates are 21ppl before tax, so the Supermarkets are playing fair but the majors are not.

A good time to whack an extra 10p per litre tax on?

I was quite surprised Gideon didn’t put a few pence on in the last couple of budgets….

must be all that oil ISIS are flogging

There is a Gulf garage on Holloway Road, London where Diesel is £1.44.9. Alway laugh when i see people filling up there, it’s been at that level for over 2 years now and never changes.

No need for your OCD spreadsheets for price history.

Only record the price of fuel when a car/bike is moved on, which is why its only for a few dates.

But I record every other cost, which is why when I sell them I get good prices as the buyer can see all costs/mileage and receipts etc.

It’s still too bloomin expensive. Whole Sale rates are 21ppl before tax, so the Supermarkets are playing fair but the majors are not.

The majors don’t own the petrol stations, they’re franchises and set their own prices.

The supermarkets don’t ‘play fair’, they sell the petrol at cost or even a loss to get you there, then you hopefully spend £100+ on your weekly food shop while you’re there. Thus driving the franchises out of business (when was the last time you went to a petrol station that wasn’t bigger than your average corner shop?)