Posts Tagged ‘fuel’
In case you missed it in our Deals of the Day, there’s some good news for motorists today, as the big four supermarkets – Tesco, Asda, Sainsbury’s and Morrisons – have all cut the price of diesel to less than £1 a litre! That’s the lowest price we’ve seen in years.
Most of them have dropped prices to 99.7p, which is just swell. However, some people still want a moan about it, so we hand you over to Steve Gooding, director of the RAC Foundation, said: “The wholesale price of diesel has been below that of petrol since early December, yet the story at the pumps has been the opposite – with diesel 3p or 4p a litre higher throughout that period.”
Basically, the gripes around this are that diesel could’ve been this cheap before now.
Either way, it looks like prices might fall even further, with RAC Fuel Watch spokesperson Pete Williams saying that 90p per litre could well be on the card in the next couple of months. He said: “The lion’s share of the price we pay at the pump, around 75%, goes to the Treasury in duty and VAT. The rest of the price is production, refinery costs, distribution and the fuel retailers’ margins.”
“The focus has been on the price of petrol but with more diesel sold in the UK, the retailers should be more transparent and reflect the savings they are making in the wholesale price more swiftly at the pump. And right now, diesel is cheaper than petrol.”
A couple of days ago, we told you that petrol prices would be dropping to under a quid a litre, and now it is truly a thing.
Asda and Morrisons have cut the cost of fuel to under £1 for a litre, with Asda falling by 2p to 99.7p, and Morrisons dropping theirs to 99.9p. Asda are doing it as a three day deal, while Morrisons is going to keep this price for ‘as long as possible’.
This means that all the supermarkets are going to feel very competitive about all this, and start dropping their prices too. Just in time for Christmas, which is nice.
This is all because the price of a barrel of Brent crude has dropped dramatically, going below $40 earlier in the week.
RAC Fuel Watch spokesman Simon Williams says: “Another promotional cut to enable motorists to buy petrol at under £1 will no doubt bring early Christmas cheer to many, but we would like to see this price being held for longer than three days with oil under 40 US dollars a barrel and the wholesale price of unleaded down.”
“As we have said this week, we believe that petrol for £1 or under will be a common sight in the run-up to Christmas.”
That’s the first time their fuel has dipped below the £1 mark since 2009. Remember 2009? Michael Jackson died and we all got swine flu. Heady days.
Anyway, a litre of diesel will cost 103.7p from Friday November 27 until Monday November 30, before reverting back to the former price of 106.7p.
This here, is an “exclusive three-day price drop” from Asda, but honest guvnor, it is nothing to do with Black Friday, because Asda don’t want anything to do with that after everyone chided them for letting people wrestle each other for tellies.
Either way, cheaper fuel. Not something to turn your nose up at. Go fill ‘er up.
Bryan Burger, Morrisons petrol retail director said: “Prices have been hovering above the £1 mark for months now. We have seen oil prices also continuing to fall this week and that means that headline fuel prices could continue to fall.”
Full marks to anyone who tittered at the name ‘Bryan Burger’.
Anyway, Morrisons aren’t the only supermarket dropping their prices as wholesale costs fall. Asda cut 2p off the price of a litre last month, and it looks like that’s got another price war going.
Good news for drivers at the pumps, trying to nail a perfectly round number when filling their vehicles up, as this means that, over the coming weeks, a lot of forecourts should start dropping their prices.
Asda say this drop means “motorists won’t pay more than 103.7p per litre on unleaded and 106.7ppl at any of our 273 filling stations.”
They add: “Our latest fuel price drop puts the price of petrol at a new five-year low – that’s 5p per litre cheaper than the UK national average”
So, if you’ve got an Asda forecourt near you and your vehicle is currently running on fumes, hop to it and fill the tank up. As ever with fuel price drops like this, you can expect other supermarkets to follow suit and drop their prices as well, because they get really competitive over things like this.
Morrisons said that it was making their third petrol price cut in four weeks: “The falling wholesale price of unleaded is allowing us to pass savings on to motorists,” says the group’s services director, Jamie Winter.
The price of oil has more than halved since July 2014. Back then, it was over $100 per barrel, while this week, it is selling for somewhere in the region of $48 per barrel. Nice to see some savings being passed on, even if motorists have been over a barrel for years now (pun obviously intended).
Avishai Moor, Sainsbury’s head of fuel, said they were dropping the price of unleaded petrol by up to 2ppl across their 300 forecourts from today. Asda chipped in by saying its “new national price cap means that unlike other retailers who work on ‘average prices’ – drivers will pay no more than 105.7ppl on unleaded whilst diesel remains at a national price cap of 107.7ppl”.
So there you have it. Go and stock up. Fill the bath with petrol before they start whacking the prices up again.
British motorists are breaking down in bigger numbers than before, thanks to their vehicles running out of fuel, according to new research. Now, if we were writing a ‘How To’ guide, this would be a short article where we’d say: ‘Keep putting petrol in your car, you dimwit.‘
Around 827,000 drivers ran out of fuel in 2014 compared to the 777,000 the year before… but why?
Well, this study shows that 536,000 motorists frequently ignore their vehicle’s fuel warning light, as there’s clearly nothing more fun than running a car on fumes, to see how much you can squeeze out of it. 267,000 don’t ever notice that their warning light was even on.
24% of motorists reckoned that they could drive over 40 miles after the light had come on and 54% of drivers stated that they’d drive by a petrol station even though they needed a fill-up, in the hope of finding a cheaper petrol station somewhere else.
13% of drivers had broken down thanks to an empty tank, which according to some crude maths, makes for an estimated total of 4.9 million motorists.
John O’Roarke, managing director of LV= Road Rescue, who conducted the survey, said: “Having to buy expensive motorway fuel can be frustrating, but if it saves you the stress of running out of petrol and potentially causing damage to your engine then it’s worth the cost. Roadside assistance is there to help should a motorist find themselves in a sticky situation – but being diligent with topping up soon after the light comes on will help to avoid the headache that a breakdown can bring.”
Next week: we give advice on the reasons why you should always pull your trousers down before going for a poo
The fuel price war continues and Asda have announced that they’re lowering their prices again. Good news here is that it might force others to do the same. You know how needy and jumpy supermarkets are.
They say that motorists will now pay no more than £109.7ppl for unleaded, and diesel is staying at £106.7ppl.
And we quote: “Effective from today (21st August), Asda’s new national price cap means that unlike other retailers who work on ‘average prices’ our customers know they will pay no more than 109.7ppl on unleaded. Diesel remains at a market-leading national price cap of 106.7ppl.”
Not bad eh? You should fill up wheelbarrows with petrol or whatever, and stockpile it in the spare bedroom. What could possibly go wrong?
Anyway, fill ‘em up!
The fuel price war is still on, and after the latest drops in price, motorists could well see diesel prices falling to £1 a litre. How do you like them apples? This is according to the RAC, following the news that supermarkets have said that they’re going to cut the cost of fuel.
Tesco have said that they’re going to cut the cost of diesel by 2p per litre and unleaded petrol by 1p at all of their filling stations and, Sainsbury’s and Asda are bringing in the same price cuts today. Asda have said that drivers will pay no more than 108.7p per litre of diesel, and 111.7p on unleaded petrol.
Now, with the price of oil going below $50 per barrel, there could be further price drops in the future.
RAC fuel spokesman Simon Williams said: “July was a bumper month for diesel vehicle drivers with the average price falling by 5p a litre, saving £3 on a fill-up. Now August is off to a flying start with another substantial cut which will help shave another couple of pounds off a tank of diesel, just as millions of people head off on holiday by car.”
“With oil prices just under the 50 dollars a barrel mark, there’s every chance even more cuts are just around the corner. And, if oil stays low and wholesale diesel remains abundant, we could even have a chance of seeing £1 a litre diesel.”
Even though there’s a diesel price-war on, there’s always room for someone to try and rip you off. And in ‘water is wet’ news, diesel at motorway stations is overpriced and ripping drivers off. At some forecourts, diesel costs as much as 127.9p a litre, while petrol cost 125.9p a litre yesterday, reckon the AA.
Comparing it to the average of around 116.6p a litre for diesel and petrol on the pumps away from motorways, you can see that the difference is noteworthy – if you fill up a large family car with 60 litres a week, you’d be spending £25 more a month at a motorway service station.
With Tesco and Morrisons dropping the price of diesel, following on from Asda and Sainsbury’s, you have to wonder what the motorway services are playing at.
AA spokesman Luke Bosdet said: “Diesel drivers will think that the latest fall in the cost of their fuel is ‘better late than never’ and is very welcome. However, the average pump price of diesel across the UK remains above petrol’s even though the former is around 3p a litre cheaper at wholesale level.”
“Many of the supermarkets can be applauded for recent price cuts but it is what is happening outside the areas they influence that worries us. The message is clear to diesel drivers: check out the supermarket prices first if they are looking to cut their fuel bills.”
Now, we hand over to our outside unit, live, to find out whether or not bears defecate in woodland areas…
Seeing as wholesale diesel prices have been 2p cheaper than petrol for more than a month, there’s a sense of ‘about time’ about it, but it is more than welcome to see the forecourts actually passing on some of the savings to motorists.
And, for the first time in over a decade, the price Morrisons are selling it at, diesel is cheaper than petrol.
For those who like a moan, the wholesale price of diesel has been dropping since the start of 2014, falling by 44%. During that period, the price at the pumps has only gone down by 14%, so more should’ve been done for drivers. There’s been a bunch of price drops on fuel after the fuel duty price freeze in the Budget. A number of forecourts have shaved 2p off, which is something.
Mark Todd, Petrol Director for Morrisons, said: “Because of the recent price drops in the wholesale diesel price, we are able to pass on these savings to our customers. This is a milestone in motoring and many younger drivers won’t remember the last time that diesel prices were lower than unleaded.”
“While we are cutting diesel prices today, we will continue to look for opportunities to pass on savings on unleaded as soon as we can.”
Anyway, with Morrisons offering this low price, you know that the other fuel vendors are going to join in and kick off a price war, so start stockpiling now!
Drivers in Britain, collectively, are costing themselves £700m a year thanks to their lousy driving habits. That’s £84 per year, because you haven’t turned off your engine when your car is stationary or because you’ve been driving in the wrong gear.
Research is showing that over 636 million litres of petrol are being wasted each year in the UK, thanks to drivers failing to adopt eco-friendly driving techniques. Like what? You should be using your handbrake when you’re waiting a traffic lights, as well as making sure you’re in the right gear (that’d be the gears that propel your car, rather than drivers needing to wear leather stringback driving gloves and a monocle).
The Barclaycard Fuel study claims that younger drivers are, on-the-whole, better at driving efficiently, with 17-24 year-olds getting a gold star from the teacher, while half of those over 65 are in detention.
John Bostock, Account Development Director at Barclaycard, said: “With such a huge amount of money wasted on fuel, we would benefit massively as a nation if we were more mindful when it comes to driving in a more eco-friendly way. We keep a close eye on our grocery spending, so shouldn’t we do the same here when it’s apparent how much we could save just by driving more efficiently?”
Here are 10 ways you can drive more efficiently
- Make sure you’re driving in the correct gear
- Remove roof racks and roof boxes when they not needed
- Always be sure that you’ve checked your tyres are inflated to the correct pressure
- Use the handbrake when waiting at traffic lights and in traffic jams, rather than using the clutch and accelerator
- Use up-to-date map tools to plot the most fuel-effective route
- Try not to use the air conditioning or heating
- Try to keep the sun roof and windows closed
- Use cruise control where appropriate
- Don’t accelerate up to lights or traffic when you know you’re going to have to brake
- Drive along roads with speed bumps smoothly to avoid unnecessary acceleration and declaration
Drivers may well be coughing up an average of £133 more on fuel, per year, than they thought they were thanks to suggestions that car-makers are misleading everyone by overstating the fuel-economy figures.
According to the report, only three of the 200 models tested across 2013 and 2014 managed to reach the official miles-per-gallon (mpg) figure stated in info from the car’s manufacturer. On average, vehicles with falling short by 13%.
The three cars that managed to live up to claims were the 1.2-litre 5-door manual Skoda Roomster, the 2-litre version of the Mazda 3 Fastback and the 2-litre, five-door, automatic diesel model of the Skoda Yeti. The worst performing vehicle in the Which!!! report was the Mitsubishi Outlander PHEV hybrid.
Now, Which!!! want the European Commission to introduce its new testing procedures to make sure figures reflect the reality of what cars can achieve.
Which!!! executive director Richard Lloyd said: “The cost of fuel is one of the biggest concerns for consumers which is why fuel efficiency has become an important selling point for new cars. The new test should be brought in without delay so consumers are no longer misled by fantasy mpg figures.”
Not only are diesel drivers being ‘demonised’, but there’s a suspicion that they’re also subsidising all the unleaded drivers too, which is just not on.
The RAC is calling for a cut of 4p-per-litre at the pumps because something doesn’t add up regarding what motorists are paying and the wholesale costs. The group noticed that the wholesale price of diesel was 1p a litre more than petrol, however, diesel drivers paid nearly 6p more than petrol-havers at the forecourt.
So what’s going on there then?
RAC fuel spokesman Simon Williams said: “It’s hard not to think that business is being taken for a ride by the fuel retailers. Traditionally, business runs on diesel, and with sales of diesel at an all-time high the retailers have maintained a higher margin on diesel, perhaps to subsidise petrol sales”.
It appears that diesel drivers are being rinsed as the forecourts trying and recoup money as oil costs have lost (up to) 60% of their value. And while diesel prices hit a five year low in January, they’re not dropping as fast as unleaded. The latest figures show that the average diesel prices at the pumps is 118.31p per litre, while unleaded costs stand at 112p.
Diesel drivers are getting it in the neck and because of that, there’s a campaign to combat what’s being dubbed as the “demonisation” of diesel.
The Society of Motor Manufacturers and Traders (SMMT), along with the more recognisable names of BMW, Ford, and Jaguar Land Rover, reckon that fears over diesel are misplaced.
What are these fears? Well, there’s been calls for a ban on diesel vehicles because they’re ‘harmful’ and super pollutant. The campaign aims to show that this isn’t on.
“Today’s diesel engines are the cleanest ever, and the culmination of billions of pounds of investment by manufacturers to improve air quality,” said Mike Hawes, the chief executive of SMMT, in a statement. ”Bans and parking taxes on diesel vehicles therefore make no sense from an environmental point of view.”
However, not everyone agrees.
Gavin Thomson from the Healthy Air Campaign said: “We need action from all levels of government to protect our health and substantially reduce the diesel in our towns and cities. This should include government supported retrofit schemes, a national network of low emission zones and support for other modes of travel.”