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March Forecast
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2010-02-22 09:09:49

Unfortunately a combination of a surprise rise in US interest rates and better than expected economic figures from China & the US have led to oil prices increasing.

With the US dollar trading below 1.36 & brent oil at $78, the cost of refined petrol / diesel has risen to 41c / litre. Add in the relevant distribution costs, vat & duties and we'll be seeing increases on the forecourt fairly soon.

Expect unleaded to head towards 1.28 & Diesel to 1.19. On home heating it would be best to fill up asap aas prices will rise towards €600 per 1000 litres soon and then a further €50 odd will be added on May 1st with the carbon tax. (already applied to petrol / diesel)



bigc
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2010-02-22 09:45:16

Brent oil has now topped $80 and will continue to rise in the short term


mcaul
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2010-02-22 10:44:31

WTI Has topped $80, but Brent north Sea prices are still at $78.

Pricing seem to be trending higher, but it is highly unlikely that we will see any sort of price umps that we saw in 2007 / 2008.


prof_frink
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2010-02-24 12:08:38

Does anyone know if there is a graph out there showing the price of a barrel of brent, but instead of in dollars in the euro rate at the time. Would be interesting to see what the impact has been to base costs in the eurozone.


mcaul
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2010-02-26 12:57:26

Oil is always priced in dollars so any chart will only be in dollars. Some chart sites will allow you compare oil price to usd/eur rate.


mcaul
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2010-02-26 13:02:34

here's the site I use for forecasting retail pricing http://www.bloomberg.com/markets/commodities/cfutures.html

The US Gallon is 3.8 litres - smaller than the EU gallon.

To get base current refined price take gasoline price, divide by rate of exchange and then further divide by 3.8.  E.G. Today price is 2.04, exchange is 1.358, so cost of petrol from refinery is currently 39.53c down 1.5c from last week. Then add in the taxes & duties of 56.8c, retail & distrubuting mark-up of approx. 10c +& then vat making a forcasted price of €1.27 in about 2 weeks.


bigc
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2010-03-10 16:41:35

Barrell prices still on the increase and have now topped $82 per barrell after strong economic data from both the US and China


fiestago
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2010-03-10 20:17:00

Petrol broke the €1.30 mark in Kells today. Shame because will put a real strain on any gains the economy was hoping to make.


tarabuses
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2010-03-11 08:17:04

tarabuses
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2010-03-11 08:17:37

I've noticed an increase of 3c in petrol at some stations over the last week.


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