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King Kenny 7:
Petrol, Diesel and Home Heating Oil are all going through the roof.


Home heating is the one I have always watched and over the past 2 years it has been bonkers and covid played a part but it then kept rising.
Recently it has been on an upward trend which is understandable with the current crisis in Eastern Europe.


But I am shocked at how prices have gone this week.



I am in Northern Ireland (as regional prices have always differed) and decided on Mon evening I would order next day, the next morning everyones price had risen by 10 on a 900 Ltr fill, I ordered from a big supplier for delivery next week at 549 for 900L.

The price has been rising every couple of hours and because of todays tragic news is now at 630 for delivery over the next few days - thats nearly a 100 extra in two days.


Same oil bought months ago but now in view of recent events they can command a greater price !!!



I understand the free market.
Everyone wants to make a Shilling.
Supply and Demand.


That said . . . When the oil companies are currently raking it in should our government step in and cap Oil Petrol and Diesel prices for the greater good.

What I have seen with prices here is just pure business overgrab - yeah we know prices go up but 100 in two days is disgraceful when their supply's where margined months ago.


If our supposeded Govt wants to keep us on side they need to act.


A cap has to be introduced on Gas, Petrol and Oil.




Check the prices in your area and order now if you can as its likely to get worse.

Flaccido Dongingo:
I literally bought 1000L of home heating oil on Wednesday for 600, guy delivered it today and told me if I'd on Thursday morning it would have cost me 675, 15% or so since Putin invaded Ukraine.

Elmo!:

--- Quote from: King Kenny 7 on February 25, 2022, 12:40:36 am ---That said . . . When the oil companies are currently raking it in should our government step in and cap Oil Petrol and Diesel prices for the greater good.

--- End quote ---

If you do that the oil producers will just sell it abroad for higher prices. Oil is much more transportable than gas.

thaddeus:

--- Quote from: Elmo! on February 25, 2022, 08:37:36 am ---If you do that the oil producers will just sell it abroad for higher prices. Oil is much more transportable than gas.

--- End quote ---
I think King Kenny was referring to the on-sellers rather than the producers when he talked about capping (happy to be corrected).

In the UK it's irrelevant either way as the state has ceded all control to the private sector but France have introduced a cap on price increases.  It will be interesting to see how it plays out with EDF as the costs globally continue to rise.  I guess the percentage of energy they generate through nuclear will soften the blow to an extent.

I've not heard about France doing anything to stem the rise in petrol/diesel prices but they may do as that will just add further to inflation.

Nobby Reserve:

--- Quote from: thaddeus on February 25, 2022, 09:34:43 am ---I think King Kenny was referring to the on-sellers rather than the producers when he talked about capping (happy to be corrected).

In the UK it's irrelevant either way as the state has ceded all control to the private sector but France have introduced a cap on price increases.  It will be interesting to see how it plays out with EDF as the costs globally continue to rise.  I guess the percentage of energy they generate through nuclear will soften the blow to an extent.

I've not heard about France doing anything to stem the rise in petrol/diesel prices but they may do as that will just add further to inflation.

--- End quote ---


Allowing a global market total control of wholesale prices (even for domestically-produced and domestically-used oil/gas) is madness and a recipe for both price turbulence and manipulation.

Ideologically, I'd rather see oil and gas natural resources in the ownership of the state and revenues used for the common good of society, rather than feeding mega-profits and snouts-in-trough greed by directors/executives and shareholders.

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