Petrol prices

[normal rules]

Now at an average 8 yr high. And news today that Saudi owned Aramco profits soar by 288 % to 25.5bn$ for Q2.

Incidentally, the highest ever recorded petrol price in the uk was £1.42 in April 2012.

Fuel price protests next?

[Filo]

I have a diesel I only ever put in Shell Vpower, last week it was £1.49 a litre. When I had the 2.5 petrol X3 I only ever put in Tesco Momentum 99 octane, that was pretty dear stuff as well

[RobTheRover]

Utility commodity markets are ridiculously high at present. Oil has rebounded enormously following low demand during last year and the global slowdown due to the pandemic.  After a colder than normal winter and spring across Europe gas storage levels are way behind where they should be, even behind where we were after the Beast From The East a few years ago. The difference then was that Russia turned on the taps and made more gas available. This year that hasn't happened (multiple reasons for it).

[Axholme Lion]

Utility commodity markets are ridiculously high at present. Oil has rebounded enormously following low demand during last year and the global slowdown due to the pandemic.  After a colder than normal winter and spring across Europe gas storage levels are way behind where they should be, even behind where we were after the Beast From The East a few years ago. The difference then was that Russia turned on the taps and made more gas available. This year that hasn't happened (multiple reasons for it).

Probably because our Government is always putting the boot into Russia rather than trying to get along with them.

[bahrain rover]

Now at an average 8 yr high. And news today that Saudi owned Aramco profits soar by 288 % to 25.5bn$ for Q2.
Incidentally, the highest ever recorded petrol price in the uk was £1.42 in April 2012.
Fuel price protests next?

Maybe the finger needs pointing at the British government for the massive prices and not the mentioned producing company. As currently out here in Saudi Arabia we are paying equivalent of 42p per liter.

[Glyn_Wigley]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

[big fat yorkshire pudding]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

[Axholme Lion]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

And have a realistic range and charging time. Hydrogen is probably a better long term bet. Stick with petrol for now.

[big fat yorkshire pudding]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

And have a realistic range and charging time. Hydrogen is probably a better long term bet. Stick with petrol for now.

That's a fair point but get a plug in hybrid until they're better, best of both worlds then.  It's only longer journeys I even touch petrol with mine, far cheaper too.

[normal rules]

They reckon that if demand for electric cars continues, the amount of oil barrels displaced per day by mid 2023 will reach 2 million. Someone is going to be left holding these barrels.

[Axholme Lion]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

And have a realistic range and charging time. Hydrogen is probably a better long term bet. Stick with petrol for now.

That's a fair point but get a plug in hybrid until they're better, best of both worlds then.  It's only longer journeys I even touch petrol with mine, far cheaper too.

I could live with a self charging hybrid, but plug in would be step too far for me. I drive past a Tesla in Epworth every morning and they have the wire hanging out of the letter box charging off the three pin plug!

[Axholme Lion]

They reckon that if demand for electric cars continues, the amount of oil barrels displaced per day by mid 2023 will reach 2 million. Someone is going to be left holding these barrels.

Good. Cheaper petrol then.

[Glyn_Wigley]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

If someone hadn't shut the pits down we'd be self-sufficient alongside renewable electricity.

[Metalmicky]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

And have a realistic range and charging time. Hydrogen is probably a better long term bet. Stick with petrol for now.

That's a fair point but get a plug in hybrid until they're better, best of both worlds then.  It's only longer journeys I even touch petrol with mine, far cheaper too.

The only issue is the price of the vehicle...Yep the price of the electricity to charge a vehicle (for local use) is negligible; however, the initial outlay for a hybrid or all electric car is expensive.

[normal rules]

They reckon that if demand for electric cars continues, the amount of oil barrels displaced per day by mid 2023 will reach 2 million. Someone is going to be left holding these barrels.

Good. Cheaper petrol then.

Yep. And then the govt will lump an enormous tax on it for anyone using a fossil fuel car.
Had an interesting chat the other day about car insurance.
Let’s say you own a big diesel and you intend to keep it way past 2030. A car insurers will look at you and say, well we can’t insure like for like because you can buy a new diesel so we have to look at an electric alternative. ( which will be much more expensive.) example. I can’t think of too may electric cars that would replace A bmw 3 series 320d other than say a Tesla 3. Considerably more expensive . So diesel and petrol car owners will have to accept large concessions on like for like, or pay a huge premium to have a reasonable like for like replacement.

[normal rules]

Govt wants every car and van to be zero emission by 2050.  That’s a lot of cars to be scrapped.

[normal rules]

And at some point in the not too distant future, the depreciation of new diesel and petrol cars after they have been purchased will be eye watering.
Who on earth will buy one new after 2027? Unless they are giving them away.

[Axholme Lion]

And at some point in the not too distant future, the depreciation of new diesel and petrol cars after they have been purchased will be eye watering.
Who on earth will buy one new after 2027? Unless they are giving them away.

I think there will be a surge in people getting their hands on new petrol cars in 2029, i believe hybrids have another five years before a ban on new sales (if it happens at all). I heard someone from Lincolnshire council on the wireless the other week who said the Government targets for charging points were in the world of fantasy.

[normal rules]

And at some point in the not too distant future, the depreciation of new diesel and petrol cars after they have been purchased will be eye watering.
Who on earth will buy one new after 2027? Unless they are giving them away.

I think there will be a surge in people getting their hands on new petrol cars in 2029, i believe hybrids have another five years before a ban on new sales (if it happens at all). I heard someone from Lincolnshire council on the wireless the other week who said the Government targets for charging points were in the world of fantasy.

I’d look very carefully at new fossil cars in 2029. The depreciation will be a killer. And the stealers will do everything they can to avoid taking the hit on their side.
Ive no doubt the govt will roll out some sort of scrap page scheme again.

[Axholme Lion]

And at some point in the not too distant future, the depreciation of new diesel and petrol cars after they have been purchased will be eye watering.
Who on earth will buy one new after 2027? Unless they are giving them away.

I think there will be a surge in people getting their hands on new petrol cars in 2029, i believe hybrids have another five years before a ban on new sales (if it happens at all). I heard someone from Lincolnshire council on the wireless the other week who said the Government targets for charging points were in the world of fantasy.

If you're buying with a view to keeping long term it could be good. That's my plan to buy on the deadline. I'll be 62 by then (if i make it) so a decent motor should see me off.
I’d look very carefully at new fossil cars in 2029. The depreciation will be a killer. And the stealers will do everything they can to avoid taking the hit on their side.
Ive no doubt the govt will roll out some sort of scrap page scheme again.

[big fat yorkshire pudding]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

And have a realistic range and charging time. Hydrogen is probably a better long term bet. Stick with petrol for now.

That's a fair point but get a plug in hybrid until they're better, best of both worlds then.  It's only longer journeys I even touch petrol with mine, far cheaper too.

The only issue is the price of the vehicle...Yep the price of the electricity to charge a vehicle (for local use) is negligible; however, the initial outlay for a hybrid or all electric car is expensive.

Absolutely, they are and I wouldn't buy one I have it as a company car and they're very cheap for company car drivers. They need to make them affordable for all though.

[big fat yorkshire pudding]

The sooner we have electric cars and sever our dependence on overseas oil suppliers the better.

Just need to find a way to generate that electricity though.

And have a realistic range and charging time. Hydrogen is probably a better long term bet. Stick with petrol for now.

That's a fair point but get a plug in hybrid until they're better, best of both worlds then.  It's only longer journeys I even touch petrol with mine, far cheaper too.

I could live with a self charging hybrid, but plug in would be step too far for me. I drive past a Tesla in Epworth every morning and they have the wire hanging out of the letter box charging off the three pin plug!

That's just daft. The government give a huge grant for installation of charging points on houses (mine was done for free with my company paying 25% the rest a grant I believe).   It costs me 3p a mile on electricity only roughly.  When the battery is gone and it switches to self charge it'll do roughly 65mpg.

[normal rules]

Trouble is AL, what on earth will be the road tax and fuel cost be for fossil fuelled cars?. The govt will be chomping at the bit to make the stubborn pay for their unwillingness to change. I can see them bringing in a climate  tax also, just for the hell of it.

[River Don]

I don't think these high oil prices can last for too long.

Since the financial crisis, crude tends to go up and up, until consumers can't take it anymore, then the economy slows, the oil price peaks and prices then slip right back.

Things are still pretty fragile, this rapid recovery might soon run out of steam if oil remains high.

[Axholme Lion]

Trouble is AL, what on earth will be the road tax and fuel cost be for fossil fuelled cars?. The govt will be chomping at the bit to make the stubborn pay for their unwillingness to change. I can see them bringing in a climate  tax also, just for the hell of it.

True. But not as much as a new battery will cost after it's worn out in ten years after lots of rapid charging.

[normal rules]

I’ve asked a few car sales people about this recently just to wind them up. None of them will answer the important question, how much to replace a spent battery. They usually trot out that they don’t expect the car to last the life of the battery.

[albie]

Trouble is AL, what on earth will be the road tax and fuel cost be for fossil fuelled cars?. The govt will be chomping at the bit to make the stubborn pay for their unwillingness to change. I can see them bringing in a climate  tax also, just for the hell of it.

True. But not as much as a new battery will cost after it's worn out in ten years after lots of rapid charging.

You are as likely to be hiring a battery in the future, they are too valuable to the manufacturers.

When it comes to range, it is increasing every year for an EV.
https://insideevs.com/reviews/344001/compare-evs/
USA site, but the info is sound. Scroll down for range.

Latest sales show the trend going forward;
https://twitter.com/SMMT/status/1423194620629069826

This is without the further pressure from climate change, which will move the death of diesel/petrol closer.
Poor old Axholme is going to have to pay to get his fartmobile towed away!

[wilts rover]

Anyone here read much history?

I was just wondering how some comments here would compare to what livery stables, carriage makers, wheelwrights etc said when the motor car was invented?

[River Don]

Anyone here read much history?

I was just wondering how some comments here would compare to what livery stables, carriage makers, wheelwrights etc said when the motor car was invented?

I hear this argument frequently but It's not quite the same, is it?

A motor carriage had clear benefits in convenience and performance compared to the poor old horse.

An electric car doesn't particularly go faster than an ICE car, it's still not quite as convenient as an ICE car and it will probably cost you a lot more upfront to buy one too. You're not really switching to gain any great benefit for yourself, your doing it for the benefit of the wider community. That's a big ask, which is why it will take government legislation to push the change through.

[drfchound]

Utility commodity markets are ridiculously high at present. Oil has rebounded enormously following low demand during last year and the global slowdown due to the pandemic.  After a colder than normal winter and spring across Europe gas storage levels are way behind where they should be, even behind where we were after the Beast From The East a few years ago. The difference then was that Russia turned on the taps and made more gas available. This year that hasn't happened (multiple reasons for it).

Probably because our Government is always putting the boot into Russia rather than trying to get along with them.

That is odd AL. I’m sure I have read that our government is in bed with the Russians.