I was passing a fuel station and saw that petrol was £1.50/L and Diesel was £1.71/L? Has the price gone up? I cant remember it ever being as high as that?
You obviously don’t watch the news? 🤔😉
The war that Trump has started in the Middle East sent oil prices rocketing by around 50%. They have since eased back but are still higher than they have been for some time. Fuel prices have gone up as a result but it’s inconsistent and there seems to be some profiteering going on.
The petrol station in our village is usually very reasonable. For years it was 1p per litre cheaper than the supermarkets, even though the nearest cheap supermarket fuel is 14 miles away. It was taken over a year ago and is now around 1p per litre more expensive, but I still use them as it’s more convenient. However, I’ve been watching prices there over the last week;
Up until just over a week ago, unleaded had been 127.9p per litre and diesel 1.379p.
Last Thursday it went up by 1p to 128.9p and 138.9p.
Last Friday it went up 2p to 130.9p and 140.9p. At this point I filled up with unleaded, even though I still had half a tank, as I could see where it was going. Glad I did because on Sunday I noticed that it had gone up to;
Petrol 142.9p and diesel 159.9p. That’s 15p more for unleaded and 22p more for diesel than it had been the previous week, with the premium for diesel having increased from 10p more than unleaded to 17p.
As fuel prices drive inflation and cost of living pressures, Trump has now realised that he’s shot himself in the the foot in a year with mid-term elections, so has stated that the war will soon be over and (although it’s not been as widely reported here as it should be) he has lifted sanctions on Russian oil, plus the G7 have discussed releasing oil reserves and a few other things, all of which are settling the markets and causing oil prices to calm down..
However, as we know, fuel prices are quick to rise at the first sign of an issue, but slower to fall when that issue is resolved, and some profiteering is likely to continue.