Fuel prices 🤑🤑🤑
- Thread starter Nassau65
- Start date
Chuffer
CCCUK Member
I think it is inevitable and coming to a gas station near us all very soon.
Chuffer
CCCUK Member
I guess all the Chelsea Tractor owners could afford it !Last year when everyone panic bought fuel Chelsea Gulf station charged £2.68 £12.19 a gallon, they have always been the country’s most expensive fuel station. keep buying petrol but turn your heating off.
Nassau65
CCCUK Member
I think a lot of Americans will be thinking about downsizing their thirsty SUV’s and large motored pick up’s if prices stay steady or continue to rise.
the same might happen here, the larger engine cars may take a tumble in price as owners try to offload them for something more economical.
will it affect classics ? Especially American.
the same might happen here, the larger engine cars may take a tumble in price as owners try to offload them for something more economical.
will it affect classics ? Especially American.
Nassau65
CCCUK Member
I think he put regular in it, as premium was a fraction under $5 bucks.Just lucky he is not using non Ethanol gas as I use in my C5, that hurts even more
teamzr1
Supporting vendor
I think a lot of Americans will be thinking about downsizing their thirsty SUV’s and large motored pick up’s if prices stay steady or continue to rise.
the same might happen here, the larger engine cars may take a tumble in price as owners try to offload them for something more economical.
will it affect classics ? Especially American.
The price is even higher in Europe, averaging 1.75 euros per liter last week, according to the European Commission, the equivalent of $7.21 per gallon.
GasBuddy, which tracks prices down to the service-station level, said Monday that the U.S. was likely to break its record price of $4.10 a gallon, but that does not account for inflation.
In today’s terms, the record price would be equal to about $5.24 after accounting for inflation.
Energy prices are contributing to the worst inflation that Americans have seen in 40 years, far outpacing higher wages. Consumer prices jumped 7.5% in January, compared with a year earlier, and analysts predict a 7.9% increase when the government reports February figures later this week.
The United States is the world’s largest oil producer ahead of Saudi Arabia and Russia, but it is also the biggest oil consumer, and it can’t meet that staggering demand with domestic crude alone.
The U.S. dictated by joey biden has imported 245 million barrels of oil from Russia last year about 8% of all U.S. oil imports, up from 198 million barrels in 2020. That’s less than the U.S. gets from Canada or Mexico, but more than it imported last year from Saudi Arabia.
The increasingly violent Russian attack on Ukraine has increased calls to cut off Russia from the money it gets from oil and natural gas exports.
Europe is heavily dependent on Russian gas.
teamzr1
Supporting vendor
Coming to the UK
Britain has today followed the US and banned Russian oil imports as drivers started queuing for fuel after being hit by the steepest weekly hike in fuel prices in more than 18 years due to Russia's invasion of Ukraine - with prices expected to keep rising.
Oil prices are rising at an alarming rate, sparking warnings that petrol could soon hit £2 a liter, taking the cost of an average tank to more than £100 - an increase of around £17.
Unleaded hit an average record of £1.55 a liter yesterday, with industry sources saying it was likely to rise to £1.75 by next week as 5p is being added to the price every 24 hours in some areas. But prices at some forecourts are already pushing £1.80.
Motorists queued outside a Sainsbury's petrol station in Cambridge today as they rushed to fill up cars and Jerry cans before petrol prices increase even further. There were also long lines at the pumps at a Tesco in neighboring Suffolk. On social media, there were also reports of queues at supermarket pumps in Lancashire.
US President Joey boy Biden has decided to ban Russian oil imports, toughening the toll on Russia's economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter, and the European Union this week will commit to phasing out its reliance on Russia for energy needs as soon as possible.
Filling the void without crippling EU economies will likely take some time - natural gas from Russia accounts for one-third of Europe's consumption of the fossil fuel.
The White House said Biden would announce on Tuesday, 'actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.'
The US does not import Russian natural gas.
Boris Johnson has said the move to ban Russian oil and gas will punish Vladimir Putin's regime but will be introduced in a way that 'won't affect' UK businesses.
Speaking to broadcasters, the Prime Minister said: 'The UK is less exposed (than European allies) but clearly we do have diesel that comes from Russia and we can't move overnight.
'But we can certainly do it, and we can do it in a way that doesn't disrupt supply, that ensures we have substitute supplies on stream in an orderly way and in a timetable that won't affect UK business, won't affect UK manufacturing, road haulage or other parts of our industry but will punish the regime of Vladimir Putin.'
Business & Energy Secretary Kwasi Kwarteng today revealed that the UK would NOT 'phase out the import of Russian oil and oil products until the end of 2022'.
Britain has today followed the US and banned Russian oil imports as drivers started queuing for fuel after being hit by the steepest weekly hike in fuel prices in more than 18 years due to Russia's invasion of Ukraine - with prices expected to keep rising.
Oil prices are rising at an alarming rate, sparking warnings that petrol could soon hit £2 a liter, taking the cost of an average tank to more than £100 - an increase of around £17.
Unleaded hit an average record of £1.55 a liter yesterday, with industry sources saying it was likely to rise to £1.75 by next week as 5p is being added to the price every 24 hours in some areas. But prices at some forecourts are already pushing £1.80.
Motorists queued outside a Sainsbury's petrol station in Cambridge today as they rushed to fill up cars and Jerry cans before petrol prices increase even further. There were also long lines at the pumps at a Tesco in neighboring Suffolk. On social media, there were also reports of queues at supermarket pumps in Lancashire.
US President Joey boy Biden has decided to ban Russian oil imports, toughening the toll on Russia's economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter, and the European Union this week will commit to phasing out its reliance on Russia for energy needs as soon as possible.
Filling the void without crippling EU economies will likely take some time - natural gas from Russia accounts for one-third of Europe's consumption of the fossil fuel.
The White House said Biden would announce on Tuesday, 'actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.'
The US does not import Russian natural gas.
Boris Johnson has said the move to ban Russian oil and gas will punish Vladimir Putin's regime but will be introduced in a way that 'won't affect' UK businesses.
Speaking to broadcasters, the Prime Minister said: 'The UK is less exposed (than European allies) but clearly we do have diesel that comes from Russia and we can't move overnight.
'But we can certainly do it, and we can do it in a way that doesn't disrupt supply, that ensures we have substitute supplies on stream in an orderly way and in a timetable that won't affect UK business, won't affect UK manufacturing, road haulage or other parts of our industry but will punish the regime of Vladimir Putin.'
Business & Energy Secretary Kwasi Kwarteng today revealed that the UK would NOT 'phase out the import of Russian oil and oil products until the end of 2022'.
Nassau65
CCCUK Member
It makes you wonder how the US manufacturers will react to this high price increase. During the last fuel crisis they were very unprepared, with Chrysler going under as such Ford and GM were better , but they all were making these fuel guzzling monsters.
Yes, they now produce smaller less thirsty vehicles, but will the buying public rush to buy the smaller engined imports like they did last time.
Yes, they now produce smaller less thirsty vehicles, but will the buying public rush to buy the smaller engined imports like they did last time.
James Vette
CCCUK Member
Hopefully this mess goes away soon.
teamzr1
Supporting vendor
Not likely, as the real story is the Aholes that hold political office wants us all to burn our gas-engined cars and buy electric,
so they can control us all by they owning the coal/oil to make the electricity to charge the batteries
As of today for low octane regular now $4.30 US which is a double cost of 18 months ago
Roscobbc
Moderator
This is just the start........as with previous fuel price/availability problems businesses will take advantage to hike their prices even before they are affected by increased fuel and transportation costs making the inflation even worse. As yes some will go buy electric vehicles thinking they will avoid increases........wrong! - perhaps in the very short term.....untill the huge electricity rises make their way to the consumer.