The frightening cost of petrol.

[Westy36]

The CMA has launched a market study. https://www.gov.uk/government/news/review-finds-cause-for-concern-in-some-parts-of-road-fuel-market

Why has it taken so long for the CMA to act? Why aren't the refineries margins capped?

The likes Helge Lund of BP and Darren Woods of Exxonmobil should be bought to account for their companies actions. I've read time and again of the impact of fuel prices. People sleeping in cars because they cannot afford the commute and similar. Forecourt drive offs and abuse at record levels. It has such a huge impact on society.

HMRC mileage rates have only just increased by a paltry 3ppm. The govt is so slow to react to current prices.

[peteo48]

There's something dodgy going on that's for sure. The pound has been a bit weak against the dollar so that's an extra thing behind higher prices but you can't help thinking that the oil companies are trying to recoup profit losses from during the pandemic. Even the large supermarket chains are unwilling to cut prices or offer extra nectar/clubcard points. You never get coupons for 10 pence a litre off either (that may be because margins are being squeezed elsewhere).

There doesn't appear to be any real competition.

[olduser1]

Fuel suppliers in the 1990's stopped smaller garages refilling by demanding a minimum delivery of 1000+ litres, hence the demise of many independent garages filling stations. I reckon there are 3 or 4 big players for fuel in UK, no wonder we are paying by post code . I plan my longer trips around Costco sites saving around 10p p litre. We should just stop filing up for any fuel to give these people a jolt.

[Kremmen]

Remember when supermarkets entered the fuel business and the big boys had to drop their excessive prices to match.

[Westy36]

Thought occured to me, is there perhaps a link between the massive refinery rip off and the recent windfall tax imposed on the oil companies?

[Kremmen]

Now down to ~$95 a barrel, pre invasion prices but still it stays high

[Westy36]

So that would put e10 about £1.50 litre? Rocket and feather pricing again. 

[embee]

Thought occured to me, is there perhaps a link between the massive refinery rip off and the recent windfall tax imposed on the oil companies?

Never mind the windfall tax on the oil companies, think of the take being made by the treasury, fuel duty and VAT.
Duty is 53p (near enough), and then you pay VAT on the fuel cost PLUS the duty (tax on tax, except legally/technically duty isn't tax, is it?). At £1-89 pump price that's about 85p to the government per litre. Kerching.

[peteo48]

Just noticed that the cheapest garage near me has edged the price down by 1 pence a litre since earlier this week (the Irish company Apple Green). £1.879 per litre for E10.

[olduser1]

Costco Liverpool & Chester 182.9p unleaded

[JimSh]

https://www.independent.co.uk/news/uk/home-news/cheapest-petrol-station-trago-mills-devon-b2124136.html

How near would you have to be to break even if you had a Mark 4 Jazz and were willing to drive at 50mph with A/C set at 25 degrees?

[peteo48]

Costco Liverpool & Chester 182.9p unleaded

That's good. I'm a not a member of Costco but I would be if there was one nearby. I think my nearest is about 12 miles away and I am not often in that area.

[Kremmen]

I see a small number of independent garages are selling petrol at circa £1.60 a litre saying that they are still making their usual profit.

They are saying supermarkets must be profiteering at £1.80+ a litre.

I suspect a cartel going on here as all supermarkets seem to be at the higher end.

[Westy36]

Really? £1.60 a litre? Blimey, haven't seen anything like that in sleepy Suffolk. My local Texaco has dropped a paltry 2p a litre. 

[Kremmen]

Just one, featured on the BBC, but I've read of 2 others recently.

https://www.bbc.co.uk/news/uk-england-shropshire-62242678