UK petrol prices hit new record

[Bob]

The average price of unleaded petrol in the UK has risen above 90p a litre (about NZD 2.33) for the first time. The increase has been attributed to the soaring cost of oil, which hit a record high amid security fears in Saudi Arabia, the world's largest producer.

Pump prices are unlikely to fall and drivers are paying £7.5m more on fuel daily than in January, the AA has said. Ruth Bridger, petrol price analyst at the AA Motoring Trust said some garages in remoter areas, such as some Scottish islands, were already having to charge £1 a litre to take account of their higher delivery costs.

"However, hopefully £1 a litre as the general price is a long way away," she added.

[zadok]

Bad news. Seems to be hitting everywhere. Apparently we are just the cheapest in Oz at about $1.13 and up.

[mstriumph]

it hit A$1.30 a litre here in west australia today [try the bondooks where i am Zadok..... ]

... be afraid - be VERY afraid

[zadok]

it hit A$1.30 a litre here in west australia today

In Toodyay today?

[mstriumph]

.... was trying to remember which station i saw it on - coulda been northam - have been round and about a bit today ................. USUALLY toodyay is no more expensive than that filling station on the midland end of the toodyay road though [except for gas]

In Toodyay today?

[zadok]

As you have older bikes, what fuel do you use? Also do you ride both bikes regularly?

[mstriumph]

both were built for leaded obviously ---- ive always used ultimate on them rather than that muck they formulated as a leaded replacement for sale at the bowser ........ started off using an additive with the ultimate but have been told am wasting my $$.

used to ride them alternate weeks to work ----- reaaaaaal fun with the alternating brake/gearchange bizzo lol ........... haven't had them out of the barn in a while. Hoping this is about to change.

am MUCH luckier with the tractor ... she's a rebuilt 1939 allis chalmers 4 cyl petrol built before leaded fuel was introduced ...... so she runs quite happily on bog standard unleaded

[Lou Girardin]

And fuel companies in NZ have posted record profits.
Time for price control?

[Ixion]

And fuel companies in NZ have posted record profits.
Time for price control?

Nationalise them. An entire nation should not be held to ransom over an essential commodity for the sake of private greed.

[bugjuice]

I think the profit margin on oil and petrol is just plain fukin greed. 96/98 is something like $1.45+ in most places, which is starting to get stupid. Ok, so 90p is more, but we're not earning £, so boo-hoo for the UK, but it's just getting stupid.

Whoever sells the oil, controls the world. If they want a new Ferrari, they just hike the price up, and the world pays thru everything you every use. It's fukin stupid. The whole world controlled by oil and its need. Totally wrong

[Zapf]

its about time that the world... including us. to not relie so much on petrol. Its a finite energy source, and we are heating up the world as we are doing it as well

[Lou Girardin]

its about time that the world... including us. to not relie so much on petrol. Its a finite energy source, and we are heating up the world as we are doing it as well

The car and bikes make your qualifications as a greenie somewhat suspect.

[Bartman10]

Petrol price rises on the way
10 August 2005

By KERI WELHAM From www.stuff.co.nz

Petrol stations are expected to raise their prices as early as today – and certainly within the week – in response to record crude oil prices.

The cost of a barrel of light sweet crude oil rose about 5 per cent to more than $US64 yesterday amid fears of United States petrol shortages.

Independent energy consultant Roger O'Brien said a fluctuation in crude oil prices usually filtered through to a price change at the pumps within seven days.

A "huge leap" in prices could force the industry to respond much faster.

"Oil companies will eventually be forced to increase prices," he said.

O'Brien expected New Zealanders were already beginning to cut unnecessary use of their vehicles.

BNZ chief economist Tony Alexander said the record levels seen at pumps, averaging 139.9c a litre of unleaded 91 yesterday, could become the basic fuel rates of the future.

"I don't actually think it's reasonable to make any sort of pick when we will see these prices easing, if ever. It could be that this is where things are going to average in the future," he said.

Alexander said consumers would not stop buying petrol but would cut back in other areas, such as savings. "We'll stop buying something else. We're going to keep driving. We're still on the roads."

Most Canterbury, Invercargill and Dunedin service stations contacted yesterday were holding firm on 139.9c, but Ian Ryan, of Prebbleton Mobil, was undercutting the competition at 138c.

He said customers were moaning about soaring pump prices but continued to buy big.

"At the end of the day, you either put petrol in or you walk," Ryan said.

He expected prices were still well below levels that would significantly alter consumption.

The Alexandra Service Station is passing on the costs of isolation to its customers with 143.9c a litre.

Shell Spring Grove in Wakefield, Nelson, is up to 141.9c

At a central Christchurch service station yesterday, waitress Sarah McKenna put $20 worth of fuel in her Honda Civic. She said she was gutted that the fuel gauge did not even climb above the half-way point. She spends about one-third of her weekly wage on petrol.

Her co-worker, Louise Stewart, 17, puts $50 worth a week into her Mazda Familia. On a student budget, she has had to sacrifice luxuries such as haircuts to make her part-time wages stretch to fuel. "It's so expensive."

But the girls were not considering cutting back on petrol.

ASB chief economist Anthony Byett said there was no "trigger level" where consumers immediately changed behaviour. Changes were gradual.

He said homebuyers would begin to give priority to fuel-based factors, such as living close to work.

Car-owners would buy smaller cars, a trend already under way, according to Motor Trade Association sales figures released last week.

Sales of Holden Commodores have decreased 30 per cent in a year, while sales of smaller Suzuki Swifts have risen 69%.

Byett said sales of smaller cars were evidence consumers expected high fuel prices to stay.

"Whether they'll stay at this level, it's a safe assumption to say they'll stay high," he said.

Since December, the oil price has risen 50% in US dollar terms. Oil is only one component of the pump price, which was 109.9c in December but has risen 27% since.

A year ago this week, the average petrol price in New Zealand was 121.9c per litre of unleaded 91 – 15% less than yesterday.

Byett said 65c of the current unleaded 91 litre price was tax.

Fuel giants BP, Mobil and Shell are reported to have increased their profits between 66 and 138% for the year to December.

[mstriumph]

the only GOOD thing i can see in all this [yes - i'm an optimist - repeat after me "the bucket is half full, not half empty ] is that those middle-class need-to-get-a-life cows with manicured nails, coiffed hair and TOTALLY MUD-FREE 4 WHEEL DRIVES that have obviously NEVER seen off-road and which they have NO IDEA how to drive and ........... oh sorry, i'm waffling ---- anyway - they will have to pay SO MUCH for fuel that they may well go back to riding their sit-up-and-beg bicyles with the baskets on the front and the kiddie seat to the rear .............................

[Marknz]

the only GOOD thing i can see in all this [yes - i'm an optimist - repeat after me "the bucket is half full, not half empty ] is that those middle-class need-to-get-a-life cows with manicured nails, coiffed hair and TOTALLY MUD-FREE 4 WHEEL DRIVES that have obviously NEVER seen off-road and which they have NO IDEA how to drive and ........... oh sorry, i'm waffling ---- anyway - they will have to pay SO MUCH for fuel that they may well go back to riding their sit-up-and-beg bicyles with the baskets on the front and the kiddie seat to the rear .............................

yup, all spotless large kiddie carriers should be ticketed off the road and forced to morph into Toyota Echo's.