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wyvern

Member Since: 14 Dec 2009
Location: Cornwall
Posts: 2148

2012 Defender 110 Puma 2.2 XS CSW Firenze Red

Badger110 wrote:
What effect does it have on us?

Sadly its my livelihood.

The price of oil has been a major factor for my area of work , ....

''edited as it was a bit heavy for the site ! ''

The loss of revenue ripples down the whole supply train from us at the production side, the refinery side, the distribution and the sales. job losses all the way ...

I think its sad to see a ltr of water costing more than a ltr of fuel ......

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Last edited by wyvern on 21st Apr 2020 7:29am. Edited 1 time in total

21st Apr 2020 7:13am

JOW240725

Member Since: 04 May 2015
Location: Suffolk
Posts: 7928

2012 Defender 110 Puma 2.2 XS CSW Orkney Grey

Heating oil last weekend was just 23p/ltr, hasn't been that low since I dont know when, crazy low.

Wyvern, that's sad news. Martin Lewis would tell the powers to be to take all the staff back on and furlough them, until at least the furlough pay is available. Costs company nothing, workers get 80% and time to look for alternatives. James
MY2012 110 2.2TDCi XS SW Orkney Grey - http://www.defender2.net/forum/topic43410.html
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21st Apr 2020 7:20am

Tim in Scotland

Member Since: 23 May 2007
Location: The Land that time forgot
Posts: 3753

The problem for the USA is they will run out of storage facilities in May hence the negative price. Brent crude remains above $20 a barrel . The issue outside of the USA is it costs around $70 a barrel to extract but the value of the barrel on the market is $25 today, OPEC’s recent agreement doesn’t help as they agreed a roughly 10% reduction in production but sales have suffered a 30% drop as most of the world has stopped using their ICE vehicles while they are locked down.
It will be interesting to see if the fall in US Shale oil causes problems for Ineos which would have a knock-on effect on Jim Rattcliffe’s ability to finance Grenadier developement......... Pangea Green D250 90 HSE with Air Suspension, Off-road Pack, Towing Pack, Black Contrast roof , rear recovery eyes, Front bash plate, Classic flaps all round, extended wheel arch kit and a few bits from PowerfulUK Expel Clear Gloss PPF to come
2020 D240 1st Edition in Pangea Green with Acorn interior. Now gone - old faithful, no mechanical issues whatsoever ever but the leaks and rattles all over the place won’t be missed!

21st Apr 2020 7:59am

blackwolf

Member Since: 03 Nov 2009
Location: South West England
Posts: 17856

2007 Defender 110 Puma 2.4 DCPU Stornoway Grey

90 Dreamer wrote:
Not much in the short term I believe as oil is sold on the 'futures' market and so doesn't have an instant effect.......

Also bear in mind the fuel cost contains a LOT of tax so never going to be nothing

Tax is a percentage of the selling price, I believe, to keep it proportional (Vat certainly is, not sure about fuel duty) so conceptually if the price went negative (which sadly will never happen) you should get a tax rebate with every gallon!

21st Apr 2020 8:33am

VVS210

Member Since: 12 Nov 2016
Location: Hampshire
Posts: 953

L110CDL wrote:
^^^

The big question is ....... what's the V8 in

Alas, not a V8 Reliant Robin but this rust free example of a D2

Arrives from Japan in about 6 weeks

21st Apr 2020 8:34am

andydef90

Member Since: 09 Feb 2015
Location: yorkshire
Posts: 617

2014 Defender 90 Puma 2.2 HT Corris Grey

will be this be down to demand globally there is less traffic on the roads and in the air assuming avgas is directive of oil . the selling of fuel is one of the biggest contributors of tax in the uk so it wont go much lower if any . nice discovery too

21st Apr 2020 8:53am

dorsetsmith

Member Since: 30 Oct 2011
Location: South West
Posts: 4554

VVS210 wrote:
L110CDL wrote:
^^^

The big question is ....... what's the V8 in

Alas, not a V8 Reliant Robin but this rust free example of a D2

Arrives from Japan in about 6 weeks

May be rust free but have you run Geiger counter over it, one imported in to USA 2 week ago FSD now in lock down and not covid 19 but radiation had been stored near power station in japan

21st Apr 2020 9:47am

PCM

Member Since: 25 Jan 2019
Location: North East
Posts: 895

Fuel duty is currently 57.95 pence per litre for petrol/diesel etc
‘Fuel oil’ burned in a furnace or used for heating is lower at 10.70 pence per litre

You also pay standard rate VAT at 20% on most fuel, or the reduced rate of 5% on domestic heating fuel.

21st Apr 2020 10:22am

Laurie

Member Since: 22 Feb 2008
Location: Sussex, England
Posts: 2897

2005 Defender 90 Td5 XS CSW Bonatti Grey

Petrol was 3s 9d a gallon (19p) when I bought it for my first motor bike. (circa 1960)
My wages were £7 7s 0d a 40hr week.
Engine capacities came in litres / Fuel tanks came in gallons / Oil came in pints.

21st Apr 2020 10:31am

wyvern

Member Since: 14 Dec 2009
Location: Cornwall
Posts: 2148

^^^ Engines came in CC’s didn’t they ??

21st Apr 2020 11:03am

Zed

Member Since: 07 Oct 2017
Location: In the woods
Posts: 3357

2010 Defender 110 Puma 2.4 XS CSW Santorini Black

wyvern wrote:
Badger110 wrote:
What effect does it have on us?

Sadly its my livelihood.

The price of oil has been a major factor for my area of work , ....

''edited as it was a bit heavy for the site ! ''

The loss of revenue ripples down the whole supply train from us at the production side, the refinery side, the distribution and the sales. job losses all the way ...

I think its sad to see a ltr of water costing more than a ltr of fuel ......

Sorry to hear that. It must be very worrying for you.

I have never understood why the oil industry, which is probably the most profitable on the planet, feels the need to lay off their workers citing low oil prices. In the grand scheme of things those wages barely register. Is it purely down to greed and shareholders profits?
How can they justify putting their own people out of work when they gladly spend billions lobbying governments and running climate change disinformation campaigns whilst recording record profits pretty much year on year? WARNING.
This post may contain sarcasm.

21st Apr 2020 11:22am

custom90

Member Since: 21 Jan 2010
Location: South West, England.
Posts: 20910

Has nothing to do with Climate Change.
(Which has happened for millions of years naturally.)
Purely due to Covid 19. _\Hennessey|Venom| F5/___
___\⭐️Lone|Star|State/___
____\We|Will|Win/___
____/🇬🇧🇺🇸\____
_//*⛽️🛢️⚙️🧰*\\_

21st Apr 2020 12:03pm

Zed

Member Since: 07 Oct 2017
Location: In the woods
Posts: 3357

True
False
True. Although oil over production has been an issue for a while now. WARNING.
This post may contain sarcasm.

Last edited by Zed on 21st Apr 2020 12:08pm. Edited 1 time in total

21st Apr 2020 12:06pm

custom90

Member Since: 21 Jan 2010
Location: South West, England.
Posts: 20910

Excellent info on this thread, the fuel duty is obviously very significant compared to many countries. _\Hennessey|Venom| F5/___
___\⭐️Lone|Star|State/___
____\We|Will|Win/___
____/🇬🇧🇺🇸\____
_//*⛽️🛢️⚙️🧰*\\_

21st Apr 2020 12:07pm

Snowy90

Member Since: 23 Feb 2015
Location: Surrey
Posts: 482

2008 Defender 90 Puma 2.4 XS CSW Fuji White

I know we all moan about fuel prices, but it always amazes me that all the effort that goes into oil extraction, processing delivery and sales that the price of a litre is less than a bottle of evian.

21st Apr 2020 4:22pm

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