Where did all the fuel go?

[Whippy]

Originally Posted by Othen

I have seen it reported that there was some profiteering during last week's 'crisis' (such is human nature I suppose) - I did read that somewhere had charged over £2/litre - although I don't know how reliable that report was (possibly just a social media spoof). Those prices will fall straight away in that profiteering will no longer be possible and competition has returned to the market.

Profiteering aside, the pump price will be to a large extent be determined by the price of crude oil, which is now trading at a little over $80/barrel - up from $65/barrel in mid-August. It would seem the world (especially China) has suddenly realised it does still need fossil fuels. Natural gas and coal prices have increased by a much larger margin - I think because of Russia exploiting Germany's reliance on gas and China's appetite for coal. I wouldn't expect to see pump gas prices to drop any time soon (but they may of course - it isn't so long ago that happened and we all enjoyed paying under a pound for a litre of Morrison's very cheapest).

I'm praying for an acrimonious split in the cartel, then it's going to be 'devil take the hindmost' for a while as oil plummets back to $28.00 a barrel.

[Whippy]

And here,

"According to ONS data, the loss of EU drivers is only a minor cause of the shortage. At the start of 2020, before the pandemic hit, there were 37,000 EU drivers in the UK. Now, there are 24,500.

That loss of 12,500 drivers only goes a little way to explaining the current shortfall. Given a total of almost 70,000 HGV drivers left during the pandemic alone, this represents just 18% of those who exiting.
"It led a logistics thinktank led by Driver Require to conclude “EU drivers leaving the UK did not significantly contribute to the current shortage”, in a new report published this week.

"Brits are certainly the more significant factor. Over 55,000 domestic drivers left the industry during the last 18 months. Retirement, a lack of driving tests during Covid, and tax changes have all been cited as the cause."

From here
https://www.thegrocer.co.uk/supply-c...659841.article

They conclude,

"One thing is clear: fundamental and structural change is required to reform an industry in which many people quite simply do not want to work. How this occurs will be pivotal. Because any successful measures will not only alleviate the crisis, but shape the industry for years to come".

[Bonefishblues]

Dunno, but it's annoying, having acted responsibly and not rushed to the pumps, to find that when I do need to fill up [sic] I'm limited to £30.

[Whippy]

Originally Posted by Bonefishblues

Dunno, but it's annoying, having acted responsibly and not rushed to the pumps, to find that when I do need to fill up [sic] I'm limited to £30.

They should limit it to a minimum of £30.00

[Othen]

Originally Posted by Whippy

I'm praying for an acrimonious split in the cartel, then it's going to be 'devil take the hindmost' for a while as oil plummets back to $28.00 a barrel.

Well, that was happening until as recently as last year when Saudi Arabia broke ranks and increased production in order to maintain its own income at a lower price - you may recall the price of oil somehow became negative for a brief while (I do not pretend to understand futures trading, I'm just quoting what was (I think reliably) reported).

Could that happen again? Of course, indeed it is almost certain to at some point. If the developed world (less China) is serious about becoming carbon neutral by 2035 then demand for oil must drop, and with it the price. We'll see.

[Othen]

Originally Posted by Whippy

They should limit it to a minimum of £30.00

... I'd have to take all 4 of my motorcycles to the pump at the same time to use £30 worth!

[Cull06]

Originally Posted by Whippy

Yeah, with the 'industry' again. The people who most want an influx of cheap foreign workers to come in to increase their profits.

Still not getting that though, are you.

No. I fully get it. Blame the profiteering companies. The answer to all woes.

[Whippy]

Originally Posted by Othen

... I'd have to take all 4 of my motorcycles to the pump at the same time to use £30 worth!

Yeah, well, there could be a built in degree of latitude. "Two wheels good, four wheels bad" sticker on the pumps. I've actually seen a woman pull up to a pump and been unable to put the minimum delivery in. I had a guy on the next pump on Saturday filling up a Bentley, you could watch the springs settle as it all went in, I thought, there's a car needs a plimsoll line' . 😁

[Bonefishblues]

Originally Posted by Whippy

They should limit it to a minimum of £30.00

...or a minimum payment of £40. I bet the buggers would still buy 10 litres!

[Othen]

Originally Posted by Whippy

Yeah, well, there could be a built in degree of latitude. "Two wheels good, four wheels bad" sticker on the pumps. I've actually seen a woman pull up to a pump and been unable to put the minimum delivery in. I had a guy on the next pump on Saturday filling up a Bentley, you could watch the springs settle as it all went in, I thought, there's a car needs a plimsoll line' . 😁

Thank you for that, us bikers need some latitude :-)

I agree about people topping up with tiny amounts. In my first (I think) post to this thread I commented on watching a line of cars mostly filling up with less than £10 worth of fuel (that was just over a week ago I think) - which led to this whole problem. I see your point about having a £30 minimum to stop that.

Alan