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Author: MarcelMarcel Date: May 18, 2008 05:29
Surely they can't keep going up infinitely, can they? I can see
masses of people off their cars as they can't afford to keep it
refueled if things keep going the way they are now.
What do you guys think? Will we ever see a drop in petrol prices to
below the £1 again?
Marcel.
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Date: May 18, 2008 08:16
> Surely they can't keep going up infinitely, can they?
Seems so, when the cost of a barrel of oil last droped the cost of petrol
didn't.
> I can see
> masses of people off their cars as they can't afford to keep it
> refueled if things keep going the way they are now.
Only if they are in a position to give up work. The cost of petrol, unless
something is done about it will destroy our economy and fuel the recession.
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Author: DavidRDavidR Date: May 18, 2008 08:21
"Marcel" googlemail.com> wrote
> Surely they can't keep going up infinitely, can they?
They have never risen infinitely.
> I can see
> masses of people off their cars as they can't afford to keep it
> refueled if things keep going the way they are now.
Until 20/25 years ago masses of people couldn't afford cars. Cars became
popular because motoring became cheap.
> What do you guys think? Will we ever see a drop in petrol prices to
> below the
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Author: MortimerMortimer Date: May 18, 2008 08:44
> "Marcel" googlemail.com> wrote
>>> Surely they can't keep going up infinitely, can they?
>
> They have never risen infinitely.
>
>> I can see
>> masses of people off their cars as they can't afford to keep it
>> refueled if things keep going the way they are now.
>
> Until 20/25 years ago masses of people couldn't afford cars. Cars became
> popular because motoring became cheap.
>
>> What do you guys think? Will we ever see a drop in petrol prices to
>> below the
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Author: Mark GoodgeMark Goodge Date: May 18, 2008 11:34
On Sun, 18 May 2008 16:44:22 +0100, Mortimer put finger to keyboard
and typed:
>
>For the record, petrol was about 47p in August 1993 and it's now about 110p
>(or 120p for diesel). That's a rise of (110-47)/47 = 134%% in 15 years or an
>average of 134/15 = 9%% per year - a lot more than the general rate of
>inflation. Using a compounding increase, the rate is (110/47) ^ (1/15) =
>1.058 ie just under 6%% compound growth.
>
> http://www.measuringworth.com/ppoweruk/ reckons that something that cost 47p
>in 1993 should cost 69p in 2007 based on the Retail Price Index. This seems
>very low: only a 46%% growth in 15 years.
The average inflation rate over that period was 2.78%%, so that looks
about right by comparison to the price of petrol which you've already
shown has grown at an annual compound rate of just under 6%% - that is,
at more than double the average rate of inflation.
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Author: ConorConor Date: May 18, 2008 12:08
> Surely they can't keep going up infinitely, can they? I can see
> masses of people off their cars as they can't afford to keep it
> refueled if things keep going the way they are now.
>
> What do you guys think? Will we ever see a drop in petrol prices to
> below the £1 again?
>
No. The £1/l price was a psychological barrier price. When it was
broken, there wasn't even a whisper of a complaint about it compared to
2000 when there were protests as the price broke the 80p barrier.
From this apathy, the fuel companies deduced that people had bought
into the Govts lies on shortages and climate change so they figured
they can charge pretty much what they want and people will pay. The
petrol stations in my town put the price up 3 times in a fortnight even
though the prices in Hull, 20 odd miles away, have remained static.
--
Conor
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Date: May 18, 2008 12:25
"Mortimer" privacy.net> wrote in message
news:nKadne6JW915063VnZ2dnUVZ8qXinZ2d@posted.plusnet...
....> I've got price data for each filling of my various cars going back to
> 1993, and the general trand is upwards, apart from a few fairly short
> blips of a few months' duration after a temporary reduction in fuel duty
> on low-sulphur fuel and after the fuel protest of 2000....
However, 1993 followed a decade of petrol prices falling behind inflation.
The price in 1992 was about 2/3 of what it would have been had petrol kept
up with inflation from 1983. By now, it would be 93.7p per litre, had it
been linked to the RPI from 1983, so it is only the recent rises that have
taken it beyond the rate of inflation. In the same time, domestic disposable
income has gone up by about 90%%, so, in real terms, petrol still has a way
to go to be as expensive as it used to be 25 years ago.
Colin Bignell
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Author: Mark GoodgeMark Goodge Date: May 18, 2008 12:51
On Sun, 18 May 2008 20:25:36 +0100, "nightjar"
here>.me.uk> put finger to keyboard and typed:
>
>"Mortimer" privacy.net> wrote in message
>news:nKadne6JW915063VnZ2dnUVZ8qXinZ2d@posted.plusnet...
>....>> I've got price data for each filling of my various cars going back to
>> 1993, and the general trand is upwards, apart from a few fairly short
>> blips of a few months' duration after a temporary reduction in fuel duty
>> on low-sulphur fuel and after the fuel protest of 2000....
>
>However, 1993 followed a decade of petrol prices falling behind inflation.
>The price in 1992 was about 2/3 of what it would have been had petrol kept
>up with inflation from 1983. By now, it would be 93.7p per litre, had it
>been linked to the RPI from 1983, so it is only the recent rises that have
>taken it beyond the rate of inflation.
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Author: MarcelMarcel Date: May 18, 2008 14:19
Well some interesting points here. I agree that it has gone way
beyond the rate of inflation - and to think that the Americans are
complaining about paying $3 a gallon or whatever it is.... They have
it lucky as far as I can tell. Perhaps the prices will come down a
little and then remain static for a while.......
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Author: Knight Of The RoadKnight Of The Road Date: May 18, 2008 14:27
"Marcel" googlemail.com> wrote
What do you guys think? Will we ever see a drop in petrol prices to
below the
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