Despite government assurances, it cost me £110 to fill my car yesterday, and 90% more to (part) fill my heating oil tank, and my electricity standing order is up 90% too.
Since everything uses energy to make, transport and keep in good shape, what is the betting that *real* inflation this year will break all records?
OOI what was the cost per litre?
Mine are Ok for another couple of months but the last I paid was around
35p/litre and so for me I'm guessing around a tripling of the price paid then.Bev snipped-for-privacy@invalid.com wrote:
Last weekend's email from 'The Oil Club':
Oil prices were set for a second consecutive weekly gain as Brent Crude tops $113 per barrel in early trading on Friday morning as the EUs proposal to ban imports of all Russian Crude and oil products by the end of the year trumped market concerns about slowing Chinese oil demand.
Estimated delivery times are 5 to 10 working days. Delivery times are only an estimated delivery time. Please allow plenty of time for your order to be delivered.
During first lockdown it was 19p/litre! (a more common pre-pandemic price being 40p/litre)
Theo
Long before the Russian invasion (Dec 2021) friends of mine had around
1000 litres delivered at around 69p litre. A lot is blamed on the Russian war but the fast upward trend in prices was already being seen long before that. In fact the April energy rises and price caps were being discussed months beforehand.I've noticed that a lot of items that I've previously purchased have recently risen in price by more like 20% rather than the 10% inflation being touted for the end of the year.
There was a brief period in 2020 when Oil actually went negative in the USA.
All the minnow energy company failures occurred long before Putin invaded the `Ukraine.
It was about 50p/litre in November/December/January time. Around Christmas time prices go up - in 2019 it was 60p/litre at Christmas and 40p/litre at other times in the winter. I suspect the 69p was a delivery close to Christmas, or a rush delivery.
(Not sure how much the cost varies across the country, my prices are for Cambs)
Theo
I doubt even the RPI will beat 1975's 24.2%.
So not quite tripled then...but still a fair bit more than I'd last paid. Should I laugh or should I cry?
Friends had just moved house to an almost empty oil tank so yes rush delivery, but from posts on social media from that area of the country the price didn't fall afterwards. There was one post showing a photo of a local garage charging £1.99.9 / litre for diesel :(
Go to boilerjuice.com they have price charts. Around 104p/lt at the minute for England.
I know boiler juice and can always beat their prices but, yes, they provide an indication.
Not quite. 97.25ppl (exc. VAT)
I am beginning to think it will.
And then phone/broadband contracts, train prices, etc will rise by RPI+n% next year.
yep. galloping stagflation, and that will be used by some as a reason to rejoin the EU...
...However by all accounts the EU is in even worse condition.
There will be food shortages across a lot of the world due to the Russians preventing grain exports via Odessa. Grain and sunflower oil will (are already) in short supply.
Forex markets don't agree and when the pound falls against both USD and Euro its a /direct/ (albeit often delayed) hike in the cost of everything we import using dollars and Euros - oil, gas, 40% of food,...
Forex markets do not reflect the state of the economy or the cost of living. They are almost entirely driven by arbitrage of base lending rates in that currency, for all decent international ones.
and when the pound falls against both USD and
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