Petrol going below £1 again?

[jakemk2]

I just heard on the radio (unsure of how reliable this really is) that within the next few months we could see petrol going below £1 a litre. 

I am sure this will make many RR members over joyed. As I know it has me.

So what car would now be in your fuel budget if this happened??

[skrapz]

Lets hope so. I'm already looking at getting an MX5 in the new year.
Its at 1.13 for me locally.
But when i passed my test it was 42p a litre would be awesome to see it below a £1 again though.

[steveg]

Sounds good, I might be able to start using my Volvo 940 a bit more again and use Optimax !

[composimmonite]

I still remember buying my first GALLON of petrol for 36p During a fuel shortage in a winter during mid to late 70's there was an uproar of profiteering when some garages charged £1 a gallon. I've noticed veg oil has dropped in price and had thoughts about running my Mahindra on it but pump diesel is getting almost as low !

I've read that ISIS is the richest terrorist organisation in history due to having access from oil revenue (allegedly smuggled via Turkey who refuse to help stop trade !). Oil is sold in Dollars so is "banked" in USA and Obama administration has vowed to starve them of funds. OPEC reducing the cost per barrel is also reducing ISIS revenue with knock on effect it's become cheaper for us too.

UK government aren't moaning as they still get the same amount of duty per litre no matter what the cost is at the pumps and in fact reducing cost means total duty will actually increase due to people putting in, say, £30 of fuel rather than a set amount of litres.

[UtterPiffle]

Dec 17, 2014 9:11:58 GMT skrapz said:

But when i passed my test it was 42p a litre would be awesome to see it below a £1 again though.

48p when I passed mine, so I must have passed only a year or so after you In 1992, a fiver half filled the tank of my Morris Minor!

Was quite pleased on Sunday though passing through Belgium. LPG was 46.2c per litre - thats about 36p per litre. This is a very good thing with a car that averages 17 mpg!
I wonder if it will have dropped again for the return journey on Friday...

I am back and forth every week at the moment, and find it interesting to see that Euro prices (particularly in Germany) are dropping significantly faster than UK prices!

[jakemk2]

It was 1.30 when I passed mine as it was only last year. So I am more than chuffed seeing that the fuel prices are going down so much. The Shell garage around the corner from me now is only 1.12.

[deaddave72]

if it happens, I'm gunna be using my Cadillac as much as i can !

[ToolsnTrack]

you all need to come to the source!

Aberdeen, 112 yesterday.

(seriously, its the only benefit of life here)

[Sammo]

113.9 at the local petrol station this morning

[loudandproud205]

Just as I start using a 4l V8 Discovery..... Very much doubt it will drop below the fabled £1 a litre.

Think it was 76p/L when I passed my test.

[mjphotography2016]

Typical when i havent got a car on the road,

[THE_Liam]

This will take the sting out of using a thirsty old Benz as a daily...

[georgeb]

Dec 17, 2014 9:32:43 GMT composimmonite said:

I still remember buying my first GALLON of petrol for 36p

It was about the same when I started driving, or maybe even 35 pee! I remember when I switched from a Mini at five gallons to my Sunbeam Alpine with ten, being horrified at what a tankful cost. That was a lot of beer at five pints to the pound!

Won't mention the cost here, but it's safe to say that I won't be parking up the 4.6 anytime soon!

On the duty issue, governments in Asia take different stances. Malaysia (an oil producer) has heavily subsidised fuel whilst Thailand (which isn't), is around twice the price. The latter is reckoned by my O&G mates to be about the right price for un-taxed, un-subsidised fuel.

Phis is about the same as Thailand and, given their respective policies, track oil price changes a lot quicker, as government has no say in the matter.

If it drops below a quid a litre, good luck to you guys and enjoy it.

[adam73bgt]

If it goes below £1 a litre, I'm keeping the Jag.

[Midas]

I paid 99.9p per litre the other day using my Tesco clubcard points. It's been a while since the measure mirrored the cost.

[Mercdan68]

Keep tellingmy Mrs I need to buy a jag now!,, prices will go up on big engine cars.....

[bortaf]

Been 112.9 in N London for a couple of days at Tesco and sainsburys, morrisons is 113.9.
The lowest i can remember was 35P per ltr when 2 local garages had a price war for an eve and the whole cab office filled up and cleared out the tanks LoL, that would have been 88/89 ish, back then diesel was cheaper than petrol but then it was more a by-product of petrol than todays "modern" diesel and not some super blend, it gave more MPG back then as well, i used to have a LWB transit Di that did 40 MPG easy, never saw more than 35 on the new low sulphur stuff and a few lucas pumped Dis blew up on it when it first came out, took them a while to get the new lubricant aditives right.
The leat i ever remember putting is was 46p in 2ps, it was all i had but it got me to the local burger bar meet and back (it was only 2 miles away), ahh being on the dole,,, great days (not).

[colnerov]

Hi, When I started driving in the early 70s a pounds worth got me three and a bit gallons. Don't get carried away buying big engined cars because if the price gets too low the government will step in and correct it. IIRC they didn't introduce a budget announced fuel escalator because fuel prices were rising and there was uproar about it.

Colin

[deaddave72]

An american friend was just commenting on FB about fuel being $2.58 a Gallon (the horror) (US Gal = 3L ) yeah, thats about 55p per Litre......

[nofrills]

well it has made my argument for a 3.0 v6 even better now, i may even buy a jag lol