[roccman]

No we can't cut back on our oil.

Oil is our god...and 20 inch rims define us as being morally superior to the remaining inhabitants of the world...you will just have to go without.

(I digress)

BTW Phoenix cheap stuff $3.15

[Gazzatrone]

Texaco petrol station on Streatham High Road

Unleaded = 97.9ppl
Diesel = 97.9ppl

will take photos of what I see as there are plenty of stations on my journey today

[Twilight]

My ultra-cheap local is now at 94.9, 94.9, prices having achieved parity for the first time ever.

Nationwide, 31 May picture is as follows:

Ave / Min / Max

Unleaded: 96.9p 92.9p 102.9p
Diesel: 97.4p 93.9p 107.3p
LRP: 100.1p 95.9p 104.9p
Super: 103.0p 95.9p 109.9p
LPG: 46.6p 39.9p 49.9p

As you can see, the difference is down to 0.5p. However, prices are not unbearably high by a long way, inflation-adjusted the average would have to exceed 100p and approach 106p to repeat the pain of September 2000, and that's not taking into account the willingness to rack up credit card debt that has become widespread in the meantime.

I still think we will see Whack A Mole being played globally with physical shortages long before price alone stops people from buying, and one of these summers it will be the UK's turn.

But as I have said before, if we are indeed drawing down our inventories to bail out the US, I would expect it to ease off in July once Brown steps in, as he would be really dumb to risk shortages in his first months in office.

[Gazzatrone]

But as I have said before, if we are indeed drawing down our inventories to bail out the US, I would expect it to ease off in July once Brown steps in, as he would be really dumb to risk shortages in his first months in office.

One would think so, but then again, will the thinking be. "we survived that minefield once, we can do it again".

The danger is that the Government thinks with that kind of mindset. The problem with that mindset is that 10 years ago there was oil. Now it's a completely different ball game, unfortunatley one the Governement doesn't seem to understand the rules of.

[shortonoil]

Gazzatrone said:

One would think so, but then again, will the thinking be. "we survived that minefield once, we can do it again".

Working, from the EIA data, indicates that the US could well be in extreme trouble by the end of the summer. Since the Commonwealth, that is Britain, is the US’s only real ally, and probably the only one we have ever had, I think that it is likely that you will try.

[Twilight]

UK Petrol Prices for Thursday 21st Jun 2007

Avg. Min. Max.

Unleaded: 97.0p 93.9p 102.9p
Diesel: 97.4p 93.9p 108.9p
LRP: 99.9p 95.9p 105.9p
Super: 103.4p 95.9p 110.9p
LPG: 46.4p 39.9p 52.9p

Prices static for last 3 weeks.

Gordon Brown is el Presidente within a week.

[ozkrenske]

So lets call that 97p per liter of unleaded which translates to 97 x 3.8 (litres in gallon) x 1.98 ( current 50 dma exchange rate) ~= 729.8 or $7.298 dollars per gallon.

So a bit over double the at pump price in the US.

[Gazzatrone]

So lets call that 97p per liter of unleaded which translates to 97 x 3.8 (litres in gallon) x 1.98 ( current 50 dma exchange rate) ~= 729.8 or $7.298 dollars per gallon.

So a bit over double the at pump price in the US.

And those on the other side of The Pond think they have it rough now?

[pup55]

At Comiston Road and Montrose Terrace, Abbeyhill, the Shell petrol stations had no unleaded or diesel this morning.

At Craigleith Road, a Shell forecourt attendant said supplies were low, adding: "I would think we won't get more until tomorrow."

The Lothianburn Service Station on Biggar Road ran out of both diesel and unleaded yesterday at 4pm. The attendant there described the situation as a "nightmare" with the forecourt sitting empty as anxious drivers search for supplies.

Thimblehall service station on Lanark Road ran out of unleaded last night although diesel was on sale this morning

Scotsman

[Gazzatrone]

At Comiston Road and Montrose Terrace, Abbeyhill, the Shell petrol stations had no unleaded or diesel this morning.

At Craigleith Road, a Shell forecourt attendant said supplies were low, adding: "I would think we won't get more until tomorrow."

The Lothianburn Service Station on Biggar Road ran out of both diesel and unleaded yesterday at 4pm. The attendant there described the situation as a "nightmare" with the forecourt sitting empty as anxious drivers search for supplies.

Thimblehall service station on Lanark Road ran out of unleaded last night although diesel was on sale this morning

Scotsman

Ths doesn't surprise me. Last Friday in London UK, I tried 3 BP petrol stations, not out of brand loyalty, but they were the only stations on my route. They were all sold out of both diesel and unleaded, and even their super unleaded.

Hard times are coming and it will only take one decent hurricane to really screw it all up.

[sjn]

Is resistance (political/psychological) to break £1/litre preventing the market from balancing supply/demand?? I've have been surprised to see so little upward movement in prices while Brent is setting new records.

[Gazzatrone]

Is resistance (political/psychological) to break £1/litre preventing the market from balancing supply/demand?? I've have been surprised to see so little upward movement in prices while Brent is setting new records.

Partly, but I think there are two considerations.

1: Is holding it until october (I think it is) when the 2p increase in tax comes into effect.

2: To stop it from becoming a runaway train.

But I agree. Prices have remained just under the £1 pl ceiling for months now even though the price on the market has increased. Those are my thoughts. But I think its a case of Big Oil not wanting to be perceived as the Bad Guy.

[Permanently_Baffled]

I read on bloomberg that the recent rises in gasoline/oil has been offset by the appreciation in the pound?

Apparentley in pound terms , oil is 13% cheaper year on year?

[shortonoil]

Permanently_Baffled said:

Apparentley in pound terms , oil is 13% cheaper year on year?

Prices are going up because inventories are getting squeezed. The appreciation of the pound is helping the consumer, but as one of the paradoxes of PO, it is not providing them with any additional product. It is probably encouraging more usage of a product that is apparently already in short supply.

[Twilight]

The anecdotal evidence I see suggests shortonoil is correct on the UK demand side. It is stunning how many SUVs have hit the streets in the last couple of years. The occasional Land Rover, X5 or L200 aside, they were a rarity. In the last couple of years a wide range has become almost commonplace, most sporting 05 - 07 registrations. I have seen more car transporters on the road and on rail these last few months with SUVs on the back, than ever before. Even F150s and Dodge Ram, which granted, look like alien invaders next to the more staid Japanese SUVs, but even so, they're still here all of the sudden!

Maybe US consumers can't afford them any more, so with a few dashboard mods they're dumping them here?

Last month I overheard a conversation in which several young men revealed they were test-driving trucks with a view to a purchase, on the recommendation of a mutual friend and existing owner. Yeah, no Honda with flames on the side for them, they wanted muscle trucks. Scary thing is, because most are junk, for now they are affordable. Worse, I can see how tempting it is to consider, with options suddenly on offer that simply did not exist before, and money being cheap. And at 97 pence per litre, people aren't even blinking, just like I said. The cost to the consumer has not increased for 7 years.

If this continues, we are gimped. The real price of petrol in the UK could easily be broadening the pool of people who will suffer later.

[skeptic]

No shortages in my area of Spain - on the Med, close to border between Alicante and Valencia. We are not subject to the seasonal price cycling seen in the USA, and have been insulated from rising price somewhat by the fall of the $ against the Euro - crude, fortunately for us being priced in Dollars.

Looking at it that way.. Rise in oil price or fall in the value of the dollar? take your pick.

BTW... except for the w**kers in Ferraris and huge SUVs most people round my way drive small to medium size diesel powered hatchbacks.

Extraordinarily cheap Chinese imported motor scooters are also very popular for getting about, especially with teens and twenty somthings. Easy to dodge through traffic and park in old town centers with mediaeval road layouts never designed for the car.

I drive a 6 month old Citroen C3 Diesel - a compact 4 seater hatchback - which with a very light foot (too many Spanish drivers are nutters so it pays to drive defensively) , driver only, no luggage gives me almost exactly 50mpg per US gallon. Mixed urban and suburban driving.

[Bas]

1.50 Euro for 1 liter Euro unleaded here in Holland.

There doesn't seem to be any signs at all of physical shortages in Europe.

[DantesPeak]

Any Brits know about this?

Exxon: Most Of UK Fawley Refinery Shut Temporarily Post-Fire

DOW JONES NEWSWIRES
July 25, 2007 10:29 a.m.

LONDON (Dow Jones)--ExxonMobil Corp. (XOM) temporarily shut most of its Esso Fawley Refinery and ExxonMobil Chemical manufacturing sites in the U.K. Wednesday after a fire was extinguished there earlier, said the company.

"We are conducting an assessment of the impact of the incident on product supply. However, currently there is no immediate impact on supplies available for our customers. The fire has had minimal impact on our ability to distribute products by pipeline, road and ship," said ExxonMobil in an e-mailed statement.

The Fawley refinery has a capacity of 300,000 barrels of oil a day and is U.K.'s largest, located in the south of England. It is operated by ExxonMobil subsidiary Esso.

The fire started Wednesday at around 0730 (0630 GMT) and was extinguished at 0840 local time. No injuries were reported, the company said.

"We are currently working to stabilize operations across the refinery and apologize to our neighbors for any concerns caused due to the increased level of flaring," ExxonMobil said.

The company said it had informed the U.K. Environment Agency and Health & Safety Executive and was carrying out an investigation into the cause of the fire.

"We are working to resume normal operations," ExxonMobil said.

DJ/WSJ

[DantesPeak]

France Releases 285,000 Tons Crude From Strategic Stks

DOW JONES NEWSWIRES
November 1, 2007 2:27 p.m.

LONDON (Dow Jones)--France has released 285,000 metric tons of crude oil from its strategic petroleum reserve, a spokesman from the French finance ministry said Thursday.

The country has taken action as a result of a short-term scarcity of crude oil and products, spokesman Jean-Marc Plantade said.

Cold weather, a hike in consumption and "tensions" in the crude oil and heating oil markets drove the government to release stocks, the spokesman said.

Plantade said oil product supplies in the country had become more scarce due to planned maintenance at two major refineries in France.

Total SA's (TOT) 116,000 barrel a day Feyzin refinery is partially shut for a 7-week maintenance period. The company's 331,000 barrel a day Gonfreville plant was shut for partial maintenance on Sept. 3, and its Oct. 15 restart was thought to have been delayed by several days.

The government hopes "that the maintenance work will be over soon," Plantade added.

France's strategic petroleum reserves in 2005 totaled approximately 65 million barrels, according to IEA data.

DJ/WSJ
subscription may be required

[Permanently_Baffled]

Diesel now at roughly £1.00 or $2.08 a litre in my area (south of england near the aforementioned Fawley refinery! - see DP's post)

Its just cost me $108 to fill my Ford Mondeo!

Now then , where did I leave my bike....