How long will the cost of fuel stay this low?

Up 2p a litre for me next week too. I’ve enjoyed the recent purple patch in fuel prices but I never expected it to last for long and I wouldn’t be in the least surprised if diesel was £3 a litre by the end of the year.

Every day we lurch ever closer to war with Russia and if that happens, running a lorry will be the least of my problems. :wink:

Noticed the garage where I fill my car up petrol has gone up 2p a litre yesterday.

On its way up again. Gone up 2p a litre since Friday. The oil companies will be " preserving their profit margins". It won’t be long before the Government decide they want an extra slice of the cake too.

Harry Monk:
Up 2p a litre for me next week too. I’ve enjoyed the recent purple patch in fuel prices but I never expected it to last for long and I wouldn’t be in the least surprised if diesel was £3 a litre by the end of the year.

Every day we lurch ever closer to war with Russia and if that happens, running a lorry will be the least of my problems. :wink:

You’ll be too busy fixing a gun turret to your boat?

Bulk prices are 6 pence per litre higher this week than they were two weeks ago.

It’s so complicated. I’ve read that the markets simply do not know what way it’s going to go. So many variables.

Make hay whilst the sun is sort of shining. Do large hauliers hedge fuel prices the same as airlines and shipping companies? Hedging is a complicated old subject though.

Medium sized hauliers such as the one I work for buy bulk fuel on the basis of which of our four potential supliers has the cheapest “spot” market price on the day we want it delivering. Other factors come into play such as the number of days credit they give us. Some hauliers have to buy with payment on delivery. Some larger hauliers buy on fixed term contracts which can work in their favour if prices are showing an upward trend. I know of one or two who are locked into contract prices and they are paying considerably more than the current “spot” market price. The price reductions of the last six months were not forseeen so they have lost out. Some of the really big companies buy daily at what are called ex-refinery prices and transport it themselves to their depots. They’re the ones who buy at the cheapest prices.