Petrol and diesel prices

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Re: Petrol and diesel prices

Postby dutchman » Sat Feb 27, 2021 7:52 pm

Petrol prices to rise as greener fuel increases cost of filling up car

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Petrol prices will rise for thousands of motorists as the Government rolls out a new greener fuel that is incompatible with older cars.

All petrol stations will sell E10, which is 10 per cent bioethanol, as the standard from September, the Government will announce on Thursday.

The older E5 petrol will be sold as the more expensive super grade and available at the majority of petrol stations.

The switch will add around 1.6 per cent to all drivers’ fuel costs because E10 is less efficient, meaning drivers will have to buy more per mile, the AA said.

Meanwhile, 95 per cent of cars on the road are E10 compatible, but there are estimated to be around 700,000 cars – mostly classic models and those manufactured before 2000 – that will not be able to use the new grade.

One estimate by The Telegraph last year suggested that using E5 super grade could cost drivers an extra £100 a year, although many classic car drivers already use premium petrol.

Edmund King, the president of the AA, said the effective increase in petrol prices from the switch should mean “the Chancellor, who will get more fuel duty from more fuel consumed, will not have to increase fuel duty in the Budget next week”.

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Re: Petrol and diesel prices

Postby rebbonk » Sat Feb 27, 2021 8:44 pm

I've just SORNED my car. I did less than 1500 miles last year.
Of course it'll fit; you just need a bigger hammer.
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Re: Petrol and diesel prices

Postby dutchman » Wed Apr 21, 2021 1:24 am

Asda takeover 'could lead to higher petrol prices'

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Asda's sale to forecourt tycoons the Issa brothers could raise petrol prices in some parts of the UK, the competition watchdog has warned.

The Competition and Markets Authority found "local competition concerns" regarding fuel in 37 areas in the UK.

Zuber and Mohsin Issa, and TDR Capital, agreed to buy Asda for £6.8bn last year. However, they also own 395 UK petrol stations while Asda owns 323.

The Issa brothers said they would work with the CMA to find a solution.

The deal to buy the UK's third-largest supermarket chain from its US owner Walmart was announced in October last year.

However, the CMA launched an initial inquiry into the takeover in December to see if it would lead to a "substantial lessening of competition".

Following the competition body's initial findings, the buyers now have five working days to address its concerns and avoid a more in-depth investigation.

Joel Bamford, CMA senior director of mergers, said: "Our job is to protect consumers by making sure there continues to be strong competition between petrol stations, which leads to lower prices at the pump.

"These are two key players in the market, and it's important that we thoroughly analyse the deal to make sure that people don't end up paying over the odds.

"Right now, we're concerned the merger could lead to higher prices for motorists in certain parts of the UK. However, if the companies can provide a clear-cut solution to address our concerns, we won't carry out an in-depth Phase 2 investigation."

A spokesperson for the Issa brothers and TDR Capital said: "We will be working constructively with the CMA over the course of the next 10 days in order to arrive at a satisfactory outcome for all parties within Phase 1.

"This would provide welcome certainty for our colleagues, suppliers and customers, and allow us to move forward with our exciting plans for investment and growth at Asda."

:bbc_news:
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Re: Petrol and diesel prices

Postby dutchman » Thu Jul 01, 2021 7:46 pm

Tesco to charge pay-at-pump drivers a £99 pre-authorisation fee under new trial

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Motorists will have to make a £99 hold payment to fill up at the pump under new measures being piloted by card providers at several major supermarkets.

Tesco, the UK’s largest grocer, said it is replacing the £1 pre-authorisation charge for pay at pump transactions to a £99 ringfenced amount instead.

That means drivers filling up will see up to £99 placed on hold for petrol – although only the amount purchased will be debited from their account - usually within the hour.

The changes are currently being trialled at Tesco Stevenage Broadwater before being rolled out to the rest of the UK later this year.

Sainsbury's told The Mirror it is also running a similar trial in a 'small percentage of petrol filling stations'.

Asda is doing the same after suspending a trial in 2018 following backlash from customers.

Until now, all pay at pump transactions were authorised by requesting a £1 transaction from the card, before taking payment for the value of the fuel one to three days later.

However, under new terms being phased in by card providers and UK Finance, the customer’s bank will pre-authorise £99, with the unused amount released back to their account within 60 minutes.

That means that while the £99 won't leave the cardholders account, the money cannot be spent until it's been released.

If a customer does not have £99 available in their account, the pump will tell them how much they have available and allow them to refuel up to this amount.

Mastercard told us once that cap has been reached, the pump will automatically cut out.

The plans have been met with criticism from drivers who are concerned they may not have enough funds in their account.

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Re: Petrol and diesel prices

Postby dutchman » Mon Jul 05, 2021 7:22 pm

Sainsbury's follows Tesco in introducing £100 'ringfence' charge at petrol pumps

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Drivers can expect a big change when they next fill up at a Sainsbury's petrol station.

Shoppers using the pay-at-pump service at Sainsbury's two petrol stations in the city had previously seen a £1 deposit appear in their bank accounts.

But, because of new rules set out by Visa and Mastercard, the supermarket chain is now increasing that fee to £100 at all of its UK outlets, the Manchester Evening News reports.

The move, which is sure to anger some motorists, comes after Tesco introduced a compulsory £99 pre-authorisation deposit charge at its pumps.

Sainsbury's outlined the changes on its website.

Previously, any Automated Fuel Dispenser (AFD) transactions ring fenced £1 in a customer’s bank account and uplifted to the value of the purchase 2-3 days later.

Under the new mandate, £100 will be ringfenced prior to any fuel being authorised to be dispensed and the value will be reduced to the actual transaction amount after the transaction has been completed.

If their account balance is below £100, for example £50, their bank may pass back a message to the pump that it can dispense up to that amount of fuel and the transaction will stop once the partial approval limit has been reached. If this happens the reduced amount will be displayed to the customer on the pump screen.

Although the ringfenced amount on a customer’s card should be released at the point of completing the transaction, there are occasions that this may not happen as quickly as the customer expects. In these circumstances customers should contact their issuing bank for guidance.

Sainsbury's have no input into the process to ringfence customers funds in these transactions and therefore are unable to support directly.

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Re: Petrol and diesel prices

Postby dutchman » Tue Jul 06, 2021 1:23 am

Fury as Coventry motorists threaten boycott over £99 'ringfence' charge for petrol

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Coventry motorists have threatened to boycott supermarket petrol stations where controversial £99 deposits are being rolled out.

Last week, Tesco announced plans to replace its £1 pre-authorisation deposit with a holding charge of £99 for motorists using its pay-at-pump services.

Sainsbury's, which has two petrol stations in the city - at Austin Drive, Courthouse Green, and in Herald Way, Canley - has followed suit.

It means drivers paying at the pump will now see up to £99 placed onto their card as a deposit for their fuel.

Ultimately, motorists will only be charged for the amount of fuel they dispense.

The move has angered some motorists who commented in response to an 'explainer video' posted on Coventry Live's Facebook page.

Michael Villiers said: "If people actually voiced what they don't like with actions, ie paying in cash against card all the time, it wouldn't even take off, but everyone's too lazy to see that."

"How about they take off the amount you paid for!" Barry Nolan replied.

"Think we need to boycott pay at pump!" Kay Coley said.

Antonia Sedgwick said: "It's all good, I avoid the supermarket ones and go to like Shell or something."

Kam Shayk said: "LAMO - don't pay at pump - pay at counter (card or cash) - pay with cash, more work for them."

"Gonna pay cash or go into pay I think," Alice Emily said.

And James Mauch said: "Simple really, don’t use pay at pump. Solved it."

Terry Johnston said he would continue to pay for fuel in cash to avoid being a victim of card fraud.

He said: "I always have, since card cloning happens at fuel pumps more often than before. That includes inside the fuel cashier point."

Ian Williams proposed an idea he felt would negate the need for pay-at-pump deposits and create jobs.

He said: "Do away with self service; that will stop the "fill and dash" and create employment."

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Re: Petrol and diesel prices

Postby dutchman » Wed Jul 07, 2021 3:35 pm

Coventry's cheapest petrol station revealed as prices soar to eight-year high

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Petrol prices have soared to their highest levels for close to eight years, according to new figures.

After eight consecutive months of increases, the cost of unleaded is now close to where it was in October 2013 when it stood at 132.28p, data from the RAC showed.

A litre of unleaded was said to have risen by 2.7p in June from 129.52p to 132.19p, while diesel crept up 2.5p over the month from 131.79p to 134.32p - its highest price in two years.

The price hike means the cost of filling up a 55-litre family car has risen £10 since last November when a litre cost 114.12p

The June rise alone added £1.50 to a tank of unleaded with the cost rising to £72.70.

Little wonder motorists in Coventry are flocking to their cheapest petrol station in the hope of keeping down running costs.

But where exactly can you find the cheapest petrol in the city?

At 124.9p per litre, Sainsbury's' petrol station in Courthouse Green offers the most cost-efficient unleaded, according to http://www.petrolprices.com.

Next on the list is Costco in Canley, and Morrison's in Binley, at 125.7p, followed by the Asda petrol stations in Abbey Park and Walsgrave, and the Gulf in Allesley, all on 125.7p.

It's a slightly different configuration when it comes to the best places to fill up for diesel.

Costco in Canley offers the lowest price at 126.7p per litre, followed by Asda in Abbey Park and Walsgrave at 128.7p with the Gulf in Allesley and the Morrison's in Binley making up the top five.

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Re: Petrol and diesel prices

Postby dutchman » Wed Aug 11, 2021 5:43 pm

Where to find the cheapest petrol in Coventry as prices continue to climb

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Motorists in Coventry are feeling the pinch when filling up as the price of petrol continues to climb.

After nine consecutive months of increases, the average cost of unleaded in the UK is now where it stood in September 2013, data from the RAC showed.

A litre of unleaded was said to have risen by 3.5p in July from 131.77p per litre to just over 135p per litre.

And the rise has also affected diesel, increasing from 134.49p per litre on July 2 to just above 137p per litre on August 2.

The UK average price difference between diesel and unleaded has shrunk to 1.9 p per litre.

The price hikes means the cost of filling up a 55-litre unleaded family car has risen by more than £10 since last November when a litre cost 114.12p

An AA spokesman said: "As ever, these price increases really affect low-income workers and those hit by job losses who are starting to look for new employment.

"Those that have to travel to work by car also suffer from petrol prices which are at their highest since September 2013.

"What's desperately sad is that we have come out of lockdown and the tourism industry, which suffered so badly last summer, is finding that some of tourists' spending is now being siphoned off at the pump."

Little wonder motorists in Coventry are flocking to their cheapest petrol station in the hope of keeping down running costs.

But where exactly can you find the cheapest petrol in the city?

At 128.7p per litre, Costco in Canley offers the most cost-effective unleaded, according to http://www.petrolprices.com

Next on the list are the Morrison's stores in Binley and Coundon, at 130.7p, followed by Sainsbury's in Courthouse Green on 130.9p and the Asda petrol stations in Whitley and Walsgrave, on 131.7p.

It's a slightly different configuration when it comes to the best places to purchase diesel.

The Morrison's stores in Binley and Coundon lead the way on 131.7p per litre followed by the aforementioned Asda sites on 132.7p.

A host of sites are next on the list at 133.9p, including the Texaco in Foleshill Road and the Tesco petrol stations at Arena Shopping Park and Walsgrave.

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Re: Petrol and diesel prices

Postby dutchman » Fri Sep 10, 2021 7:33 am

rebbonk wrote:I've just SORNED my car. I did less than 1500 miles last year.


Does anyone NEED a private car any more when they can summon an Uber with the touch of a button? :roll:
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Re: Petrol and diesel prices

Postby dutchman » Mon Sep 13, 2021 3:59 pm

Expensive petrol forever as climate warrior investors force oil companies to slash new drilling

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Carbon-battling investors are ushering in an era of permanently expensive petrol by forcing oil companies to slash their growth plans, as Morgan Stanley hikes its long-term oil price forecasts.

Big businesses are set to invest almost exclusively in managing and running down their existing oil fields rather than opening new wells because their major shareholders have gone green, according to Martijn Rats, an analyst at the investment bank.

Growing pressure to decarbonise, combined with a fear that peak demand is only around 15 years away, means that companies no longer want to increase supply despite relatively high crude prices of more than $70 per barrel.

As a result, prices are likely to stay high, keeping pressure on consumers, including drivers.

British petrol prices are at an eight-year high of an average 134.8p per litre, with diesel at 137.2p.

Similarly, gas prices are rising steeply, with the same concerns over the climate holding back investment in production. Energy prices surged to record highs in Britain and across Europe last week because of a severe squeeze on gas supplies.

Mr Rats said: “This year, the shareholder pressure on oil companies not to increase investment in oil projects is so strong companies are on the whole not increasing investment. There is almost no recovery in capital investment this year.”

Investment last year was down at $350bn (£253bn), compared with $850bn in 2014.

As new wells are long-term projects, companies are reluctant to invest more in a very uncertain political and business environment.

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