 | Home > Off Topic > US oil price collapses |
 
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| Tim in Scotland Member Since: 23 May 2007 Location: The Land that time forgot Posts: 3753  
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Just had the BBC News App ping this - US oil price turns negative- producers paying people to take it away! Depression time in the USA?
US oil prices turn negative as demand dries up https://www.bbc.co.uk/news/business-52350082 Pangea Green D250 90 HSE with Air Suspension, Off-road Pack, Towing Pack, Black Contrast roof , rear recovery eyes, Front bash plate, Classic flaps all round, extended wheel arch kit and a few bits from PowerfulUK Expel Clear Gloss PPF to come 2020 D240 1st Edition in Pangea Green with Acorn interior. Now gone - old faithful, no mechanical issues whatsoever ever but the leaks and rattles all over the place won’t be missed! |
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20th Apr 2020 7:19pm |
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| custom90 Member Since: 21 Jan 2010 Location: South West, England. Posts: 20444 
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Meanwhile the EU is a sunken ship already.. No Guts, No Glory.
🇬🇧🏴🏴🏴🇮🇪🇺🇸⛽️🛢️⚙️🧰💪 |
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20th Apr 2020 8:16pm |
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| VVS210 Member Since: 12 Nov 2016 Location: Hampshire Posts: 953
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Looks like I've bought a V8 at just the right time
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20th Apr 2020 8:30pm |
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| L110CDL Member Since: 31 Oct 2015 Location: Devon Posts: 10782 
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^^^
The big question is ....... what's the V8 in 1996 Golf Blue 300Tdi 110 Pick up.
Keeper. Clayton. |
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20th Apr 2020 8:36pm |
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| Tim in Scotland Member Since: 23 May 2007 Location: The Land that time forgot Posts: 3753
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Would sir like petrol instead of Nectar points? Pangea Green D250 90 HSE with Air Suspension, Off-road Pack, Towing Pack, Black Contrast roof , rear recovery eyes, Front bash plate, Classic flaps all round, extended wheel arch kit and a few bits from PowerfulUK Expel Clear Gloss PPF to come
2020 D240 1st Edition in Pangea Green with Acorn interior. Now gone - old faithful, no mechanical issues whatsoever ever but the leaks and rattles all over the place won’t be missed! |
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20th Apr 2020 8:50pm |
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| Procta Member Since: 03 Dec 2016 Location: Sunderland Posts: 5183
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he told me its in a reliant robin  this is the car
Defender TD5 90 ---/--- Peugeot 306 HDI hatch back Success is 90% Inspiration and 4 minutes Preparation # you can make it! |
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20th Apr 2020 9:20pm |
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| Procta Member Since: 03 Dec 2016 Location: Sunderland Posts: 5183
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The funny thing is petrol and diesel is nearly down to what it was nearly 15 years ago, It should drop further i think, We have all been robbed for long enough! Needs to be down to under a £1 easy Defender TD5 90 ---/--- Peugeot 306 HDI hatch back
Success is 90% Inspiration and 4 minutes Preparation # you can make it! |
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20th Apr 2020 9:23pm |
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| Badger110 Member Since: 06 Feb 2018 Location: South hams Posts: 1039 
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What effect does it have on us?
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20th Apr 2020 9:49pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2166 
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Not much in the short term I believe as oil is sold on the 'futures' market and so doesn't have an instant effect.......
Also bear in mind the fuel cost contains a LOT of tax so never going to be nothing |
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20th Apr 2020 9:57pm |
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| custom90 Member Since: 21 Jan 2010 Location: South West, England. Posts: 20444
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I believe wholesale is about 55p a Litre, but that's excluding taxes which you can see how much tax is added.
I don't know the exact figures so anyone that does know actual figures please feel free to correct. (I think it's around that bench mark approximately.) Does anyone know how much red is these days per litre? Obviously strictly for Agri use / commercial activity but a guide price on red would give you a rough estimate of wholesale price which would probably be a little less than Red diesel selling prices after tax. Standard diesel obviously has the highest taxes, Red less so for strict uses only such as Agriculture. No Guts, No Glory. 🇬🇧🏴🏴🏴🇮🇪🇺🇸⛽️🛢️⚙️🧰💪 |
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20th Apr 2020 10:17pm |
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| Procta Member Since: 03 Dec 2016 Location: Sunderland Posts: 5183
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had a google and it came up with is 54.85 pence per litre (excl. VAT). If i have added the 20% vat on its looking at 64p or something? not sure if i have done it correctly Defender TD5 90 ---/--- Peugeot 306 HDI hatch back
Success is 90% Inspiration and 4 minutes Preparation # you can make it! |
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20th Apr 2020 10:46pm |
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| custom90 Member Since: 21 Jan 2010 Location: South West, England. Posts: 20444
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There will be fuel duty, which I imagine is in addition to VAT too. Which gets rather complicated. In affect I’m pretty sure in recent times it’s practically been a 50% tax rate on it, practically doubling the wholesale prices.
I wouldn’t be surprised if members here don’t know the explicit figures as it is such a very good knowledgable Forum with good atmosphere. Currently near me Diesel is around £1.08L for branded. Previously around £1.33L. On 25L approx £6.50 saving, 50L double that figure saving. 👍🏻 No Guts, No Glory. 🇬🇧🏴🏴🏴🇮🇪🇺🇸⛽️🛢️⚙️🧰💪 |
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20th Apr 2020 11:11pm |
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| Procta Member Since: 03 Dec 2016 Location: Sunderland Posts: 5183
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i think its about 1.10 around my way, Been a good long while since its been at the price. Defender TD5 90 ---/--- Peugeot 306 HDI hatch back
Success is 90% Inspiration and 4 minutes Preparation # you can make it! |
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20th Apr 2020 11:50pm |
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| Mo Murphy Member Since: 01 Jun 2008 Location: Letchworth Garden City, Herts Posts: 2244 
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102p a litre in Tesco yesterday morning.
Mo The Land Rover 90 - Many are called, few are chosen. 50 Shades of Pennine Grey |
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21st Apr 2020 3:16am |
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