fuelprice's
- Thread starter G.Ash
- Start date
I've got to admit when i heard they had made 14 billion profit, i initially thought they should lower the price. But at what percentage of the turnover is 14 billion. If it was 100% then that would be criminal, but if it was as low as 5% then what could we say.My monthly fuel bill is £370 quid or there abouts I do on average 3-3500 miles a month and it used to cost £42 to fill up now it's £55 it's shockingly bad
Being self employed aswell it makes everything harder.
and then when you hear Shell made 14 billion in profit last year.
Makes me mad.
Without the profit figures in percentages, they're meaningless.
Why do people keep making this statement.....where the hell do they think Tesco, Adsa and the other supermarkets get there fuel from ?????
The big companies do NOT make there profit from British petrol pumps. They make 90% of their profit in the North Sea etc. Also you think that England is there only market? Theres bigger fish than little ole England out there.
Oil extends slump as U.S. fuel stocks rise
NEW YORK (Reuters) - Oil prices fell toward $87 a barrel on Wednesday, extending this month's losses to more than 5 percent, after a government report showed a surprisingly big build in U.S. petroleum stockpiles.
Oil prices have already been under heavy selling pressure since hitting a record $100 in early January amid intensifying signs the economy of the world's biggest energy consumer is falling into recession.
"The U.S. economy just attracts more bad news and demonstrates its fragility," said Robert Laughlin of MF Global. "For oil, demand will slip and prices should come under renewed pressure in the short term."
U.S. crude fell $1.27 to $87.14 a barrel, adding to losses of nearly 2 percent the previous session. London Brent crude dropped $1.04 to $87.78.
A report from the U.S. Energy Information Administration on Wednesday showed commercial crude stockpiles rose 7 million barrels last week against analyst expectations for a 2.6 million barrel build.
Gasoline supplies, meanwhile, climbed 3.6 million barrels to their highest level since February 1994, the EIA said.
"These numbers are all bearish," said Tim Evans, analyst at Citigroup Futures Research. "Inventories were up across the board, implied demand looked terrible."
On Tuesday, an influential report showed the vast U.S. services sector contracted to recessionary levels in January, reinforcing fears energy demand will slow down under the weight of high prices and the fallout from a housing slump.
Forecasts for normal or slightly above normal temperatures in the U.S. Northeast for the next six to 10 days also kept a lid on oil prices by damping the outlook for heating oil demand, dealers said.
The Organization of the Petroleum Exporting Countries could keep output at current levels when its ministers meet next month if there is no change in the market, Secretary-General Abdullah al-Badri said on Tuesday.
OPEC's concerns about slowing global demand prompted the group to keep supply steady at last Friday's meeting and some hawkish members have called for a vote to cut output at its March 5 meeting.
NEW YORK (Reuters) - Oil prices fell toward $87 a barrel on Wednesday, extending this month's losses to more than 5 percent, after a government report showed a surprisingly big build in U.S. petroleum stockpiles.
Oil prices have already been under heavy selling pressure since hitting a record $100 in early January amid intensifying signs the economy of the world's biggest energy consumer is falling into recession.
"The U.S. economy just attracts more bad news and demonstrates its fragility," said Robert Laughlin of MF Global. "For oil, demand will slip and prices should come under renewed pressure in the short term."
U.S. crude fell $1.27 to $87.14 a barrel, adding to losses of nearly 2 percent the previous session. London Brent crude dropped $1.04 to $87.78.
A report from the U.S. Energy Information Administration on Wednesday showed commercial crude stockpiles rose 7 million barrels last week against analyst expectations for a 2.6 million barrel build.
Gasoline supplies, meanwhile, climbed 3.6 million barrels to their highest level since February 1994, the EIA said.
"These numbers are all bearish," said Tim Evans, analyst at Citigroup Futures Research. "Inventories were up across the board, implied demand looked terrible."
On Tuesday, an influential report showed the vast U.S. services sector contracted to recessionary levels in January, reinforcing fears energy demand will slow down under the weight of high prices and the fallout from a housing slump.
Forecasts for normal or slightly above normal temperatures in the U.S. Northeast for the next six to 10 days also kept a lid on oil prices by damping the outlook for heating oil demand, dealers said.
The Organization of the Petroleum Exporting Countries could keep output at current levels when its ministers meet next month if there is no change in the market, Secretary-General Abdullah al-Badri said on Tuesday.
OPEC's concerns about slowing global demand prompted the group to keep supply steady at last Friday's meeting and some hawkish members have called for a vote to cut output at its March 5 meeting.
Petrol in milton keynes is running between 102.9 and 106.9 a litre. With falling prices on crude it's taking some time for this to filter through to the consumer at the pumps. Saw a report recently about BP cutting 5,000 jobs after announcing less than expected profits (though they still quoted profit in the billions of dollars).
Gordon and his car-hating labour party are still planning to put another 2p on a litre of petrol in april....
Gordon and his car-hating labour party are still planning to put another 2p on a litre of petrol in april....
unfortunately we hardly ever see these decreases being passed on to the consumer, we still pay it now so its their chance to make profit.
they also use the excuse that they are still using last years stocks etc when prices were high so they need to keep high prices in order not to lose money on it etc.
again its something to do with elasticity of demand, i think its inelastic, im obsessed with this stuff
gonna have to re learn it so i can be correct and not look like a fool.
Petrol at Asda is now 100.2 a litre. As someone said on here, the prices always go up in the first quarter of the year.
-james
-james