Random Irritations

[upsidedown]

The amazingly rapid increase in petrol and diesel prices at the pump.
Yes, I know that crude oil has increased dramatically, but surely there's no way that the new expensive oil has made its way to the refineries, been turned into petrol, and delivered to forecourts that quickly.
Can anyone with inside knowledge of the industry shed some light on it?

Domestic heating oil doubled in price too

 

[SteveW86]

The amazingly rapid increase in petrol and diesel prices at the pump.
Yes, I know that crude oil has increased dramatically, but surely there's no way that the new expensive oil has made its way to the refineries, been turned into petrol, and delivered to forecourts that quickly.
Can anyone with inside knowledge of the industry shed some light on it?

I always thought the selling price for the day was linked to the purchase price that day, not what that particular fuel was purchased at however many weeks ago

 

[Lord Tyrion]

The amazingly rapid increase in petrol and diesel prices at the pump.
Yes, I know that crude oil has increased dramatically, but surely there's no way that the new expensive oil has made its way to the refineries, been turned into petrol, and delivered to forecourts that quickly.
Can anyone with inside knowledge of the industry shed some light on it?

My first ever job was selling oil, to farmers, domestics, industry, local forecourts. I was based at a major NE storage depot. This is profiteering, pure and simple. Partly by the fuel stations, also possibly by the depots that they buy from.

Are we to believe that all of the fuel stations became empty and needed to be refilled? Nope.

The depots carry months worth's of fuel so even then, the more expensive fuel hasn't reached them yet. They may be upping the prices to the fuel stations but many fuel stations are in on this as well.

It's collective across the industry. Shameful but are we surprised?

For reference incidentally, I filled up at Tesco at Annan, Dumfries, today. £1.41 for diesel. There was a shell garage a few hundred metres away charging £1.50. I'm pleased to say the shell garage had no one filling up there.

 

[Lord Tyrion]

I always thought the selling price for the day was linked to the purchase price that day, not what that particular fuel was purchased at however many weeks ago

They charge what they can get away with locally, it's no more sophisticated than that.

 

[Billysboots]

They charge what they can get away with locally, it's no more sophisticated than that.

Although they will argue that replacement cost is factored into daily prices at the pumps.

 

[Imurg]

2 days to go up
6 months to come down

 

[Hobbit]

The amazingly rapid increase in petrol and diesel prices at the pump.
Yes, I know that crude oil has increased dramatically, but surely there's no way that the new expensive oil has made its way to the refineries, been turned into petrol, and delivered to forecourts that quickly.
Can anyone with inside knowledge of the industry shed some light on it?

The current issues include costs at the refinery with little product going through it. There’s a daily operating cost which to a large extent is fixed. From the UK’s perspective, the oil from the North Sea is different from the oil from the Middle East. The production regime for both is a bit different.

Here is Spain petrol has gone up from €1.23 to €1.59… it hurts.