View Full Version : fuel could hit £1.75 a litre - £8 a gallon
It comes as the RAC Foundation warned that fuel could hit £1.75 a litre - £8 a gallon - in parts of the country by the summer.
Prices of £1.50 a litre are already being charged in the Orkney Isles.
Read more: http://www.dailymail.co.uk/news/article-1350021/Petrol-rationing-proposed-MPs-prices-set-hit-8-gallon-summer.html#ixzz1BzNEF7Fk
time to get me push bike out methinks and join boris.
If it does then we are all going on a diet, if diesel hits those sort of prices even basic food prices will go up as transport costs start to spiral out of control. This government needs to think again on this one.
I think once it hits £1.50 a litre, trouble will start, blockades etc, which will destroy the coalition.
I think once it hits £1.50 a litre, trouble will start, blockades etc, which will destroy the coalition.
i agree i just think /hope it's lower £1.40-45 if we wait till it gets that high it will be harder to get it back down to around the £1.15 mark
Fuel prices are heading only one way and that's up.
Lister of Smeg
24-01-2011, 22:44
Now that the oil companies and the OPEC nations have conditioned us to think that the cost of a litre is CHEAP, we need to take aggressive action to teach them that BUYERS - not sellers control the market place. With the price of petrol going up more each day, we consumers need to take action. The only way we are going to see the price of petrol come down is if we hit someone in the pocket by not purchasing their petrol! And we can do that WITHOUT hurting ourselves. Here's the idea:
For the rest of this year DON'T purchase ANY petrol from the two biggest oil companies (which now are one) i.e. ESSO and BP.
If they are not selling any petrol, they will be inclined to reduce their prices. If they reduce their prices, the other companies will have to follow suit. But to have an impact we need to reach literally millions of Esso and BP petrol buyers. It's really simple to do!!
Now that the oil companies and the OPEC nations have conditioned us to think that the cost of a litre is CHEAP, we need to take aggressive action to teach them that BUYERS - not sellers control the market place. With the price of petrol going up more each day, we consumers need to take action. The only way we are going to see the price of petrol come down is if we hit someone in the pocket by not purchasing their petrol! And we can do that WITHOUT hurting ourselves. Here's the idea:
For the rest of this year DON'T purchase ANY petrol from the two biggest oil companies (which now are one) i.e. ESSO and BP.
If they are not selling any petrol, they will be inclined to reduce their prices. If they reduce their prices, the other companies will have to follow suit. But to have an impact we need to reach literally millions of Esso and BP petrol buyers. It's really simple to do!!
the problem with that is BP and esso supply the likes of morrison ,tesco and most of the smaller suppliers so they won't lose that much
The problem is, as has probably been said many times before.
We need the fuel. There is only so long that we can go on 'not buying any' in the hope that they bring the prices down. We, the buyers will crack long way before they do.
Remember the blockades last time? The go slows down the motorways? What happened?
People panic bought and they fuel companies probably made a mint, people were queueing down the street before they even got on the forecourt.
We need it, they know it.
Nothing will change, so sorry to be blunt, get used to it.
I think the rot set in when fuel started to be sold in litres... if prices per gallon were the norm I think we would have seen more public reaction to the price hikes by now.
The problem is, as has probably been said many times before.
We need the fuel. There is only so long that we can go on 'not buying any' in the hope that they bring the prices down. We, the buyers will crack long way before they do.
Remember the blockades last time? The go slows down the motorways? What happened?
People panic bought and they fuel companies probably made a mint, people were queueing down the street before they even got on the forecourt.
We need it, they know it.
Nothing will change, so sorry to be blunt, get used to it.
This is also true and it wouldn't be that bad if my wages went up to compensate, with the duty increase on fuel and the VAT increase on materials i have had to take a substantial wage cut .We are having fitters refuse to do jobs now because the job will not pay enough to make a profit ,pretty soon it may be more profitable to just sign on
I think once it hits £1.50 a litre, trouble will start, blockades etc, which will destroy the coalition.
Might do but none of the other buggers will reduce the prices. Lets face it they have put them up constantly all the time they were in power.
Viva la revolution ;)
Now that the oil companies and the OPEC nations have conditioned us to think that the cost of a litre is CHEAP, we need to take aggressive action to teach them that BUYERS - not sellers control the market place. With the price of petrol going up more each day, we consumers need to take action. The only way we are going to see the price of petrol come down is if we hit someone in the pocket by not purchasing their petrol! And we can do that WITHOUT hurting ourselves. Here's the idea:
For the rest of this year DON'T purchase ANY petrol from the two biggest oil companies (which now are one) i.e. ESSO and BP.
If they are not selling any petrol, they will be inclined to reduce their prices. If they reduce their prices, the other companies will have to follow suit. But to have an impact we need to reach literally millions of Esso and BP petrol buyers. It's really simple to do!!
Factual error - BP and Esso are not one company - Esso's parent company Exxon merged with Mobil (a precursor of which was part of Standard Oil before it was broken up in 1911) a few years ago now, and BP merged with Amoco (which in a previous existence had been part of Standard Oil until it was broken up).
BP and Esso are completely separate companies.
For the rest of this year DON'T purchase ANY petrol from the two biggest oil companies (which now are one) i.e. ESSO and BP.
Factual error - BP and Esso are not one company - Esso's parent company Exxon merged with Mobil (a precursor of which was part of Standard Oil before it was broken up in 1911) a few years ago now, and BP merged with Amoco (which in a previous existence had been part of Standard Oil until it was broken up).
BP and Esso are completely separate companies.
That what he has said?
I would add to that list Shell, Elf, & Total.
For the rest of this year DON'T purchase ANY petrol from the two biggest oil companies (which now are one) i.e. ESSO and BP.No, he said they are now one company....
DocDutch
25-01-2011, 22:08
well having a look around Europe and most of the fuel is about the same as here now....so dont think its the companies like Shell, BP, Total, Esso and you name them that are wrong here but our lovely friends OPEC that arent producing enough of it and with holding supplies to inflate the price of oil.
ow just having a look around on a site and found the price for petrol in the US... price per US gallon (petrol) $3.26 ... you gotta love the yanks. (source: http://www.gas-cost.net/dashboard.php)
Brent Crude (source beeb business) now @ $96.25 March 2010 @ $74. (http://www.bbc.co.uk/news/business/market_data/commodities/143908/twelve_month.stm)
This thread does make me laugh especially when we haven't even hit the £1.50 a litre as predicted in this 3 year old thread
http://www.cableforum.co.uk/board/20/33628898-petrol-to-hit-1-50-litre.html
Cobbydaler
21-02-2011, 18:03
Someone thinks the price of fuel's a joke...
http://www.bbc.co.uk/news/uk-england-dorset-12526271
:)
Someone thinks the price of fuel's a joke...
http://www.bbc.co.uk/news/uk-england-dorset-12526271
:)
I notice they put the LOL in the space for diesel pricing ,ironic realy because thats what i usually do when i fill up my van :)
I notice they put the LOL in the space for diesel pricing ,ironic realy because thats what i usually do when i fill up my van :)
I :cry: as I pull out £70 in notes, rather than the £45 in notes I used too.:mad:
I'm just curious... How bad do you think it would have to get before people would say "Enough!" and actually did something about it?
What - like not buy the petrol?
What - like not buy the petrol?
No. set the car alight and walk everywhere.
just think what that would look like on the news. all them cars on fire.
Mmmmm - cracking idea.
Because the petrol is too expensive, write off your car (worth between £3k and £30k).
You may wish to do a cost/benefit analysis on that proposition....
Mmmmm - cracking idea.
Because the petrol is too expensive, write off your car (worth between £3k and £30k).
You may wish to do a cost/benefit analysis on that proposition....
Have we took into account the insurance payout on a vandal setting the car on fire?
the shortfall you'd save by not paying for petrol and all the rest that goes with owning the car.
Have we taken into account the garage video footage showing you setting fire to your own car?
Have we taken into account the garage video footage showing you setting fire to your own car?
You're assuming we would do it on garage forecourts because they sell petrol. not only is it dangerous and irresponsible. there's only so many cars that will fit on them.
Have we took into account the insurance payout on a vandal setting the car on fire?
the shortfall you'd save by not paying for petrol and all the rest that goes with owning the car.
Have we taken into account the fact the insurance company won't payout because you deliberately left your car in the street in plain view of potential vandals :)
---------- Post added at 21:37 ---------- Previous post was at 21:34 ----------
You're assuming we would do it on garage forecourts because they sell petrol. not only is it dangerous and irresponsible. there's only so many cars that will fit on them.
absolutely right gary ,setting fire to a car on a garage forecourt is very dangerous and irresponsible ..not at all as sensible and responsible as setting fire to it anywhere else :rolleyes:
What - like not buy the petrol?
Yeah, that and maybe a mass protest against the oil companies / government.
Yeah, that and maybe a mass protest against the oil companies / government.
I wonder how we would get to these mass protests......;)
I wonder how we would get to these mass protests......;)
hitch a ride with gary's fire engines on their way to put out the cars he's burning
I wonder how we would get to these mass protests......;)
By any means possible... I'd bet The Top Gear crew would help ;)
Car?
Train, car, bike, horse... and cart, legs, wheelchairs.?
A long way to London by bike, horse, cart, legs........
Though I think there were plenty a revolution before the invention of the motor car?.
A long way to London by bike, horse, cart, legs........
We'll manage :)
Though I think there were plenty a revolution before the invention of the motor car?.However, the other side didn't have motorised transport at the time.....;)
chris9991
22-02-2011, 10:23
I can't see any protests taking off until the price of food starts shooting up
Sorry but most of us are resigned to the fact that whatever we do will achieve SFA, so what is the point?
We might as well drop our trousers and bend over and brace.
Some of us are just scared that we will be given an on the spot fine :)
roger skillin
22-02-2011, 13:11
What's the point of these reports saying "Fuel could hit ........£" That's like saying "London could be flooded tomorrow" we all know fuel is going up, it has been since we started using it, we may not like it and we may want to protest but this report is not news
-------------------!!!stop press!!!--------------------
FUEL PRICES COULD SOON BECOME A HEADLINE
:D
dazzer89
22-02-2011, 13:48
I can't see any protests taking off until the price of food starts shooting up
They protested back in 200 when the price reached 75p per litre, it's nearly double that now.
They protested back in 200 when the price reached 75p per litre, it's nearly double that now.
I've grown up to learn that us British put up with anything. if they give us a penny back we're celebrating people power, and shouting don't mess with us again or else.
even though the minimum we wanted was 10p.
adzii_nufc
22-02-2011, 14:17
Its all good blaming the companies.. what about the stupid amount of tax on it?
pabscars
22-02-2011, 14:38
At this rate its going to be cheaper to build your own make shift distillery and run your car on moonshine.
:scratch:
pabscars
22-02-2011, 15:52
Well I cant remember quite that far back :D but I certainly remember brimming the tank on my moped with 2 star for 90p
I'm still amazed that the fuel companies don't show the breakdown of the costs on the reciept, you know:
Cost of Fuel:
Duty:
VAT:
Total to you sir curtesy of HMG:
Perhaps if they did then people would put the blame for the high cost where it belongs. We have some of the the cheapest wholesale petrol in Europe, until the taxes go on it. Then it's the most expensive.
...snip
I seem to vaguely remember a story a few years ago about a small garage chain that wanted to do exactly that, and list the price of the fuel on the forecourt signs as something like 10-15p per litre plus whatever the tax was. Apparently they were told is was illegal to do this.
Unless I'm thinking of something else entirely, which is quite possible.
chris9991
23-02-2011, 09:34
I think the rule is that if you mainly offer to consumers you have to show the price with tax added BUT there is nothing to stop a place displaying a price pre tax as long as it is less prominent
roger skillin
23-02-2011, 11:35
This is the breakdown of what fuel costs
http://www.petrolprices.com/price-of-petrol.html
Petrol to go up another 5p per litre due to Libya. and the possible 5p extra fuel duty.
Once upon a time you could fill your tank up for around £35. and when happily ever after came it rose to just under £80
time to kick ass and chew bubble gum, I think.
pabscars
24-02-2011, 16:47
Petrol to go up another 5p per litre due to Libya. and the possible 5p extra fuel duty.
Once upon a time you could fill your tank up for around £35. and when happily ever after came it rose to just under £80
time to kick ass and chew bubble gum, I think.
And I bet your all out of bubble gum right ;)
And I bet your all out of bubble gum right ;)
Damn right :)
Perhaps this thread should be renamed to "Fuel is going to hit £1.75 per litre"
I think the petrol companies are rubbling their hands together with the problems and looking to see how much they can charge a barrel.
The news said that every $1 on the barrel equals to 2p at the pump, and I believe that every $5 off the barrel equals to 1 off the pumps.
budwieser
24-02-2011, 21:58
So, Is the price of petrol/diesel rising all around the world or just here in the UK?
DocDutch
24-02-2011, 22:02
its just as high in europe as in the uk okay give or take a couple of pence.
its just as high in europe as in the uk okay give or take a couple of pence.
That's just proof that the rest of Europe as well as us are being taken for mugs ;)
chris9991
24-02-2011, 22:13
Petrol is similar across Europe but diesel appears to be a lot lower, though there are significant variations - look at Norway
http://www.theaa.com/onlinenews/allaboutcars/fuel/2011/february2011.pdf
(Don't look at the USA)
DocDutch
24-02-2011, 22:15
thats true and if you have a look at a link i posted a couple of pages ago you'll find that in the usa it is still $0.80ish
Already 3p gone on top today.
I think it's going to be another 7p and more within the next few weeks.
the thing you have to remember is, prices never come down from where they went up.
Never.
I reckon the thread title could be updated to a much higher figure before long... and once it goes up, it'll never come down.
I have several neighbours who rely on fuel oil for their central heating. The price rises they are experiencing are truly eye-watering ... some of them are genuinely concerned about how they can afford to continue heating their homes properly.
Here at Towny Towers I am more glad than ever that we took the decision to install biomass heating over three years ago ... our fuel prices have remained very stable and these days I'm spending 40-50% less on fuel than some of my neighbours are.
A bloke in the pub was bulk-buying wood pellets for his home wood burner.
He declared them as for use as cat litter (no VAT).
Got caught by the VATman as he had no cat.
A bloke in the pub was bulk-buying wood pellets for his home wood burner.
He declared them as for use as cat litter (no VAT).
Got caught by the VATman as he had no cat.
I'ld have bought a cat. Most have 3 homes.
A bloke in the pub was bulk-buying wood pellets for his home wood burner.
He declared them as for use as cat litter (no VAT).
Got caught by the VATman as he had no cat.
Odd ... if you declare them as being for horse litter you pay VAT on them at 20%. And I'd have thought the fact in practical terms you have to buy them by the tonne if you use them as your main heating fuel would have been more suspicious than the lack of any obvious cat...
It's hardly worth trying to string them along TBH, VAT on domestic fuel is 5% so IMO the saving's not worth the risk (not that I'd be looking to defraud the exchequer, risky or not!).
Was on the news I think last week that in Europe fuel went down from mid to end Jan by 4.3% but in UK went up. If I remember correct it was the AA that done the report.
http://www.bbc.co.uk/news/business-12575147
Oil prices have retreated from Thursday's multi-year highs amid optimism producers could offset a drop in supply caused by unrest in Libya.
Brent crude was trading at $112.33 a barrel, after almost breaking through the $120 mark earlier in the week.
US light crude was back at $98.26 a barrel having earlier surged past $100.
Reports suggest Saudi Arabia has increased its oil production by almost 10% to offset production shortages resulting from the unrest.
So how will that affect prices at the pumps I wonder?
So how will that affect prices at the pumps I wonder?
It will make the prices go up.
Depends on the dollar exchange rate at the time
What we need to do is make MPs pay for their own fuel, reather than them claim it on expenses. Then perhaps they might bring fuel duty down.
I know they do this as a "FACT" as I was doing a contract that was removing personal information on MPs expenses to enable them to be released to the public.
Gone up again another 2p. it's now 132.9p.
that's around 5p since Libya. and you can bet it's still going to rise. and they'll blame Libya for why.
Gone up again another 2p. it's now 132.9p.
that's around 5p since Libya. and you can bet it's still going to rise. and they'll blame Libya for why.
Thats petrol, diesel near me is 136.9:mad:p, as if I've got money to burn.
138.9 here.
roads will be deserted soon.
Government says petrol could hit £2 a litre if the violence in Libya gets worse.
And this man is charging £2 litre at his garage. claiming it's to stop panic buying. and not because he's profiteering out of it all.
Download Failed (1)
http://www.thesun.co.uk/sol/homepage/news/1298496/Garage-charges-2-litre-for-petrol.html
Cobbydaler
05-03-2011, 12:31
Government says petrol could hit £2 a litre if the violence in Libya gets worse.
And this man is charging £2 litre at his garage. claiming it's to stop panic buying. and not because he's profiteering out of it all.
http://img847.imageshack.us/img847/3869/clipboard01of.jpg
http://www.thesun.co.uk/sol/homepage/news/1298496/Garage-charges-2-litre-for-petrol.html
That story's from 2008 during the tanker drivers' strike... ;)
LOL!
I was looking for the £2 thing and found that. I didn't look at the date. nevermind eh? :)
One question ,
if the troubles in the middle east do result in rocketing fuel prices such as have been quoted in the media ,will the government be in any hurry to do anything about it ,because the way i see it the higher the price the more money in duty the government makes .Will they look on it as a bit of a windfall for the tax payer ,or should they on the other hand lower duty by the ammount the fuel goes up to keep government income from fuel duty static
Duty is a fixed amount, not a percentage, the government makes no more duty on a £2 litre than it does on a £1litre.
On the other hand it does charge VAT on the combined cost of the fuel plus the duty, and as VAT is a percentage, it does make more money as the price at the pump goes up.
</pedant>
;)
Cobbydaler
05-03-2011, 18:26
One question ,
if the troubles in the middle east do result in rocketing fuel prices such as have been quoted in the media ,will the government be in any hurry to do anything about it ,because the way i see it the higher the price the more money in duty the government makes .Will they look on it as a bit of a windfall for the tax payer ,or should they on the other hand lower duty by the ammount the fuel goes up to keep government income from fuel duty static
Still hinting they might:
In his speech, the chancellor sent a clear signal that he will act to stop a planned increase in petrol duty for all UK motorists due in April in his March 23 Budget.
He told party activists: "I know how hard the rises in world oil prices are hurting families in Britain.
"When it costs £1.30 for a litre of petrol, £80 to fill up a family car, I know people are feeling squeezed. And I say to people watching: 'I hear you'."
"We've got another of the Labour Party's pre-planned rises in petrol tax also coming this April - one penny above inflation," Mr Osborne said.
And while he said he would "not take risks with economic stability", he added: "I promise you I am doing everything I can to find a way to help."http://www.bbc.co.uk/news/uk-12653686
138.9 here.
roads will be deserted soon.
yep given up my car
Osborne vows growth boost and hints at fuel duty cut
http://www.bbc.co.uk/news/uk-12653686
The trouble is I'll never trust a tory MP while I draw breath.
The trouble is I'll never trust an MP while I draw breath.
Fixed that for you..
Osborne vows growth boost and hints at fuel duty cut
Is this going to be one of them he didn't put 3p on top of the probable £1.84. and we're going to be really grateful and regard him as a hero?
Yeh I'm really happy. if it wasn't for Osborne I'd be paying £1.87 at this pump now. oh hang on, the man is changing the price sign. damn, Libya must be bad. he's just put it up 3p.
Fixed that for you..
:clap:
It is amazing how short memories are, I still remember who got us into this mess with there constant fuel duty increases over the last 10 years ;)
I've just spoken to someone and he's dreading the budget and 1p going on top of petrol.
I had to walk away. I just knew he was going to tell me he'll have to sell his car if that 1p goes on.
some people are absolute nuts. :mad:
in other news. some garages are charging £1.40 a litre. that's 8p up on yesterdays prices.
I hope the budget does put that killer 1p on. It will prove to me just how stupid the rest of the world thinks we are.
slowcoach
06-03-2011, 12:35
I gave up when petrol hit a Pound a gallon.
It's much more fun on the bus these days watching the reaction to people, who haven't been on a bus for a while, when the driver tells them that their journey of three short stops will be £1.80 please, their brain can't take it in. :p:
I've just spoken to someone and he's dreading the budget and 1p going on top of petrol.
I had to walk away. I just knew he was going to tell me he'll have to sell his car if that 1p goes on.
some people are absolute nuts. :mad:
in other news. some garages are charging £1.40 a litre. that's 8p up on yesterdays prices.
I hope the budget does put that killer 1p on. It will prove to me just how stupid the rest of the world thinks we are.
Sounds like some garages are ripping people off - my local garage is charging 128.1p per litre of unleaded.
I gave up when petrol hit a Pound a gallon.
It's much more fun on the bus these days watching the reaction to people, who haven't been on a bus for a while, when the driver tells them that their journey of three short stops will be £1.80 please, their brain can't take it in. :p:
I gave up on buses years ago ,i always got to sit next to the "nutter on the bus " with the corned beef tin* :D
ref.. Jasper Carrott for those non brummies :D
when the driver tells them that their journey of three short stops will be £1.80 please, their brain can't take it in. :p:
I'd tell him you can have the bloody 25p it's always been! :)
---------- Post added at 12:43 ---------- Previous post was at 12:42 ----------
Sounds like some garages are ripping people off - my local garage is charging 128.1p per litre of unleaded.
They're all at it. but we don't care as long as the government doesn't add 1p.
I've never seen pricing at ***.1p before. it's usually ***.9p
A breakdown of the cost of fuel, about 80p per litre is stolen by the government.
If this cash went into rad I think it might be a different matter, but some main roads near me are getting close to "off road".
http://www.petrolprices.com/price-of-petrol.html
abandoning or delaying the 1p rise in duty isn't enough for me ,i would like to see a real drop of between 10-15p a litre .
in other news Cameron has announced that he wants Britain weaned of oil and other carbon fuels ,thats fantastic if they can plough money into developing other forms of generating energy ,but i can't see anything meaningfull happening in my lifetime
There's a basic contradiction there though Marty ... If you think weaning people off oil is a good aim, why would you also want to see the cost of road fuel drop by 10% or more? Until we actually run out of mineral oil, the cost of it is the only real incentive to develop alternatives.
There's a basic contradiction there though Marty ... If you think weaning people off oil is a good aim, why would you also want to see the cost of road fuel drop by 10% or more? Until we actually run out of mineral oil, the cost of it is the only real incentive to develop alternatives.
I know what you're saying but in the mean time people have to live and work .Weaning us of oil is going to be a long process taking decades unless steps are taken to speed up research and availability of other energy sources .and don't forget that other industries depend on oil for production such as plastic and the chemical industry they are going to suffer in the short term just as much as motorists and the haulage industry .It's ok for cameron to announce that we need to be weaned of our dependance on oil but onto what is the bigger question
It's tricky, I grant you, but to take a related example, several of my neighbours are now seriouly thinking about switching over to biomass boilers for their central heating because the cost of fuel oil (which is not hammered with duty as road fuel is) has gone through the roof. You think the cost of petrol is bad, try heating your home at a cost of £1,800 a year when your previous annual bill was about £1,100.
I switched to biomass over three years ago when the fuel was a little more expensive than oil but it was already obvious which way the market was going and a central heating boiler is an investment for at least 15-20 years. Now they are asking me for advice, and it is the economics of it that is driving them, pure and simple.
Now, with biomass heating, the technology has been around for donkey's years. Our boiler is Austrian; there are plenty of German and Scandinavian ones around. But in the UK we have been spoiled with cheap north sea gas so in the domestic central heating market the situation isn't all that different to that which we now have with road vehicles. You have to make a deliberate choice to use biomass just as you have to deliberately choose electric or fuel cell* (the former is marginally easier to do than the latter). You have to make certain lifestyle changes in order to accommodate the change (in our case we has to build a store for the fuel). But the fact is, we are on a one-way street to a world where oil is a rare and precious commodity, and continuing to burn it for transport as if there's no tomorrow is absolutely unsustainable. In my view, the sooner people wake up to the fact that things have got to change, the better. The price of road fuel is hard medicine but it is in the long-term economic and social interests of the country.
Incidentally, after we wrote off both our cars in the rotten weather this winter, we decided to replace only one of them. We have invested the other insurance cheque in our B&B business. We are very much enjoying not having to keep two cars on the road. It is sometimes inconvenient that we are unable both to go different places at the same time, but we are content to accept that this is the simple, hard reality of life.
*or a bus, a train or a bike, or a new pair of boots, for that matter...
dazzer89
07-03-2011, 07:59
I'm still amazed that the fuel companies don't show the breakdown of the costs on the reciept, you know:
Cost of Fuel:
Duty:
VAT:
Total to you sir curtesy of HMG:
Perhaps if they did then people would put the blame for the high cost where it belongs. We have some of the the cheapest wholesale petrol in Europe, until the taxes go on it. Then it's the most expensive.
I can remember halcyon days when filling my mini with 4 star cost £1.50 (35p a GALLON!)
Crude oil is not just used for petrol and diesel, there are many things crude oil can be made into such as,
1. Fuels:
Gasoline/Petrol
Liquified petroleum gas (LPG)
Naptha
Kerosine
Gasoil
Fueloil
Methane
2. Lubricants
all oil-based lubricants come from crude oil.
3. Asphault
pavement for paving roads is derived from "heavies" in crude oil.
4. 4,000 petrochemical byproducts:
ethylene
propylene
butadiene
benzene
ammonia
methanol
5. Many products can be directly converted into renewable resources (for example)
Methane recovered from crude oil can be converted into Hydrogen through hydrogen reforming.
6. General products:
plastics
synthetic fibres
synthetic rubbers
detergents
chemical fertilisers
As you can see Petrol and Diesel account for only a small portion of the oil companies profits.
Just dropped 4p a litre in my area (North West Leeds).
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