Wednesday, January 25, 2012

FUEL prices are set to soar to around £7 a gallon in days because of shortages caused by the collapse of one of Britain’s largest oil plants. 

Both petrol and diesel will crash through the £1.50 per litre barrier to record highs, say industry analysts.

The rocketing prices, which will cause yet more misery to motorists, were predicted after Swiss-based Petroplus, Europe’s largest independent refiner, announced it is filing for insolvency after defaulting on its debts.

Yesterday it said it was closing the Coryton refinery in Essex, which provides 10 per cent of the country’s fuel and is a key supplier to London and the South-east. As well as putting more than 1,000 jobs at risk, experts warned that British drivers now face a "toxic combination” of factors that will drive up prices by more than 10 per cent.

In addition to Petroplus, the EU this week agreed sanctions to boycott fuel from Iran, which retaliated by threatening to cut off the Strait of Hormuz through which around 20 per cent of the world’s oil is shipped.

See full article. http://www.express.co.uk/posts/view/297817/Now-petrol-to-hit-7-a-gallon 




Please donate to help the fight for lower fuel prices and a better deal for drivers


Share this Post:    

ADD YOUR OWN COMMENTS BELOW THIS POST. THEY ARE VERY WELCOME


[ posted by Jon, 25.01.12 08:14 ]

Something seriously needs to be done to slash fuel duty in this country, but the government keeps sticking their heads in the sand. Never mind telling Osborne to do something in the Budget, that is two months away. It is NOW that something needs to be done.

It's all well and pointing the finger at the oil companies, Iran and the speculators but whilst they shoulder some of the blame it's the government that takes the LIONS SHARE of the cost of fuel in this country with 70% TAX! We're already at breaking point, now this is going to be the straw that breaks the camel's back. ENOUGH IS ENOUGH!!!

reply


[ posted by Craig, 25.01.12 08:38 ]

What is glaringly obvious to most of us is completly ignored and brushed aside by the government - the price of fuel is affecting everything, its damaging everybodies way of life. They dont care because it doesn't affect them, the country is run by the rich for the rich.
My fuel bill is now pushing £4k a year just to get to work and back, any more and I going to have to start cutting back on necessities, which are already to the bone or sit at home on benefits (and capped at £26K i would be better off, but thats a diffent issue!)

reply


[ posted by IRENE, 25.01.12 15:15 ]

if the price of fuel goes up to £1.50 a litre then road transport will come to a halt as they cant afford another price hike to bite into their meager profit margin and i fear many many more firms will be in deep deep trouble that they cannot get out of.
if the government care about britain they must do soething urgently to save british hauliers going to the wall .
this really will be a step too far and one that haulage firms cant cope with

reply


[ posted by Fibreron, 25.01.12 20:23 ]

There should be no shortages, this is just another 'con' to increase prices. What should be remembered is that crude oil was $147 a barrel in 2008 and petrol was £1.30, now crude is $110 a barrel and petrol is £1.35, is that a 'con' or not?

reply


[ posted by Gerry Poulson, 25.01.12 21:09 ]

I retired early on the grounds of ill-health. My budget is already stretched. Without my car, I'd be housebound!

reply


[ posted by Andy Hill, 26.01.12 12:47 ]

Fuel cannot continue to rise at a rate that is far grater that salary, This is deemed as inflation, yet our government choose to ignore this in its inflation calculation. The goverenment has to act and stop fore court owners "racketeering over this" the price always goes up never down!. And Force a fixed price by introducing the price stabilizer. It needs to indroduce this before the cuntry grinds to it's knees and dies like Greece. This is a trainwreck waiting to happen.
Secondly with such a high forecourt price how can a oil refinery go into Backrupcy there needs to be an invesitgation, must be caused by corruption or fraud! The Governement need to bailout this NOW!

reply


[ posted by Philip Patrick, 26.01.12 21:12 ]

Why is it that any time there is some sort of crisis concerning oil regardless of what or where in the world it may be, it us the motorist that has to pay for it at the pumps. Fuel cannot continue to rise in price at this rate while the oil companies announce how many Billions they have made. I drive an HGV for a living and the rising cost of fuel does make me concerned for my employers operating costs.

reply


[ posted by Stuart James, 29.01.12 14:46 ]

Stop hitting the motorist in the pocket, how long do you think the people of the UK will put up with these high prices before we demonstrate !!!!

reply


[ posted by Charlie Hill, 31.01.12 11:50 ]

Whilst fuel duties and VAT have a significant impact on the cost of fuel (petrol, diesel & heating oil) there is another factor which is equally, or more, damaging and that is commodity speculators.

The moment there is any hint of a shortage or increased demand these speculators squeeze the market for their own benefit to increase their profits. This must cost the economy billions and I wonder if this activity should become a criminal offence given the great harm it does.

This probably would not be popular with the political classes as I suspect that these speculators may have huge influence politically. However the damage done to the economy by speculators (not just oil) must be as much, if not more, than the banking crisis.

I would welcome a campaign against speculators too please.

reply


[ posted by JCWS, 31.01.12 12:21 ]

The government needs to act. The current level of cost is not affforable by the majority of people in this country. It is resulting in debt and damaging the economy. It is not rocket science to work out that a major reduction in fuel cost ie 25% plus is one of the best ways to benefit business and the consumer FAIRLY and get the country out of recession. WWe all need cars, we all need lorries to move goods around the country. People in rural areas, and actually most of us, simply do not have any choice but to use cars. Reducing fuel with have a significant impact on business and consumer budgets - and surely the impact on taxation will be marginal when set agaisnt the impact on the economy. This sort of trageted measure is surely much better than VAT reductions etc encouraging spending on TVs and other non necessary items. If this government is going to do one thing, it must SIGNIFICANTLY cut fuel proces I mean CUT, not stop future rises, CUT and CUT HARD.

reply


[ posted by JCWS, 31.01.12 12:21 ]

The government needs to act. The current level of cost is not affforable by the majority of people in this country. It is resulting in debt and damaging the economy. It is not rocket science to work out that a major reduction in fuel cost ie 25% plus is one of the best ways to benefit business and the consumer FAIRLY and get the country out of recession. WWe all need cars, we all need lorries to move goods around the country. People in rural areas, and actually most of us, simply do not have any choice but to use cars. Reducing fuel with have a significant impact on business and consumer budgets - and surely the impact on taxation will be marginal when set agaisnt the impact on the economy. This sort of trageted measure is surely much better than VAT reductions etc encouraging spending on TVs and other non necessary items. If this government is going to do one thing, it must SIGNIFICANTLY cut fuel proces I mean CUT, not stop future rises, CUT and CUT HARD.

reply


[ posted by Hjames, 31.01.12 16:56 ]

One thing which has come out of this expensive fuel period is that more people are using public transport. That is not a bad thing. What about reducing the taxation on both petrol and ordinary diesel by an amount being less than the campaign is looking for but at the same time allowing Commercial vehicles--mainly lorries-- to use red diesel which farmers currently use. At the same time our laws regarding the illegal use of red diesel must be severely tightened to allow lengthy custodial sentences for that misdemeanour.

reply


[ posted by Mark Shingler, 01.02.12 11:11 ]

The Fuel duty rises are bordering on penalisation of the motorist, however we do have a duty to offer other alternatives to enable the Government to generate the lost revenue required to keep the economy growing, should they agree not to increase duty further. I feel we must be realistic about this issue, the revenue must come from somewhere.

With this in mind, I would propose that the government take advantage of some of the energy efficient lighting opportunities being offered for Street Lighting. There are companies offering the LED lighting for free on orders over 5000 units with electricity savings of up to 50% with no capital expenditure. The companies then recover their costs by taking 50% of the electricity saving as payment. The units are 25 years maintenance free guaranteed, so no further expenditure for lamp changes. The maintenance savings alone will amass Millions of pounds in saved revenue, as well getting Britain on track with its Carbon footprint targets.

I would relish the opportunity to discuss this further should anyone be interested.

Mark Shingler MIET

reply


your name*

email address*

Add your own comments below this post. They are very welcome*
You may use these HTML tags:<p> <u> <i> <b> <strong> <del> <code> <hr> <em> <ul> <li> <ol> <span> <div>

verification code*
 



 
RECENT POSTS

 
OLDER POSTS