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And here was me thinking it was because there was insufficient refining capacity in Europe to make enough diesel to meet the increased demand.The current price war started with Asda's decision, following the budget last week, to price both at 114.7 per litre.
Diesel has only been a higher price in recent years because the oil companies have taken advantage of the popularity of diesel cars in the UK to make a killing. Look at the historical prices on the AA web site to see how the hike in diesel prices followed the increase in diesel car sales.
According to the news earlier on the Iranian deal has reduced the Brent Crude price in anticipation of Iranian oil becoming available in the not too distant future.Same here in Tesco Colchester. Diesel 1p cheaper. Unfortunately I don't have access to Platts or any of the shipping fuel price wire services any more so can't check trends, but apart from the above, we are early for the USA winter stocking season and also the Chinese slowdown may have had an impact on prices. Having dinner with some ex work colleagues on Thursday so might find out more - fuel prices and quality is still a subject dear to my heart........
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Was a demand unmet then?And here was me thinking it was because there was insufficient refining capacity in Europe to make enough diesel to meet the increased demand.
Er, yes, which was why the price went up. Lesson one in any economics course.Was a demand unmet then?
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Yes, the demand went up (implicit in my earlier post) but insufficient capacity to make enough diesel to meet that increased demand implies that so much of it would go unmet. I don't recall people being unable to drive diesel vehicles because of lack of diesel availabilityEr, yes, which was why the price went up. Lesson one in any economics course.
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Diesel is more expensive purely because Gordon Brown increased the duty on it.
And has been for years. The higher price has purely been the oil companies' decision.According to this website the duty is the same on petrol and diesel..
http://www.nextgreencar.com/car-tax/fuel-duty/
Because the ratio of diesel to petrol driven cars has been lower in the rest of Europe. Check the AA archives as mentioned previously. I did so a few years ago but never kept the notes.For many years diesel has been cheaper than petrol in every country in Europe except UK
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Not necessarily European refining capacity, more like an arbitrage between Europe and USA or Asia making it cheaper to send it there based on demand in those areas. Many people don't realise that the oil producers actually refine a lot of products themselves as there is more value down the chain in doing that. Saudi Arabia has massive refineries for instance, and export a considerable amount of feedstock themselvesAnd here was me thinking it was because there was insufficient refining capacity in Europe to make enough diesel to meet the increased demand.
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That is because diesel attracts less duty in furrin parts compared with UKFor many years diesel has been cheaper than petrol in every country in Europe except UK
Yes 60% in UK 49% in France apparentlyThat is because diesel attracts less duty in furrin parts compared with UK
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Nine year old report. A lot has changed since then, especially in duty terms.
Crazy people yes. The price difference on our recent trip was at least £35 on a full tankBUT some people still insist on filling to the brim BEFORE shipping out and fill up when they get back?????????????
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