Diesel "could breach £1 a litre" (approx $7.60 per Gallon) (BBC News)

(One British Pound per Liter, in today's dollar would be about $7.60 per U.S. Gallon!)

Thursday, 23 June, 2005, 17:23 GMT 18:23 UK

Diesel 'could breach £1 a litre'

The cost of Diesel could breach the £1 a litre level this year, the Petrol Retailers Association has warned.

The warning came as it said petrol prices were set to rise by 2p within days, pushing unleaded to a new record 87p a litre on average. Record crude prices near $60-a-barrel and a lack of refinery capacity were to blame for the increase, the group said.

Meanwhile, the AA Motoring Trust said prices were already at a peak of 86.21p for unleaded and 90.34p for diesel. The AA added that with unleaded petrol costing on average 79.6p a litre in January, private motorists were now paying £94.69 per month on fuel against £87.43 at the start of the year. The surge means that, on average, UK motorists were now collectively spending an extra £4.83m a day on petrol compared with January, the AA said.

Diesel pressure

However, there was a glimmer of hope, with Ray Holloway from the Petrol Retailers Association saying that petrol prices were likely to slip in the autumn. "But diesel I'm afraid might do the opposite," he told BBC News.

He explained that refineries were unable to keep up with increasing demand for the fuel as they were built in the 1970s to supply a market that is now "totally different to today". "Upgrading a refinery is a long term project so we need to catch up," Mr Holloway added.

<http://news.bbc.co.uk/2/hi/business/4124810.stm>
(more at link above)

(For those who question my math, here are the numbers I used: By this article, Diesel average price NOW is 90.34p for Diesel, Today's British pound buys 1.81585 U.S. Dollars <http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/12/default.stm>, A U.S. Gallon is 3.7843 Liters. To get from 90.34p to 1 Pound per Liter would be approx a 11% rise. I'll let you do the math, I've never claimed to be a "Math Wiz.")

£1/litre = $1.81585/litre = $1.81585*3.7843/US gallon = $6.87/US gallon

There's no need to consider today's 90p/litre price to work out what £1/US gallon is. You just do the straight calcuation on the price you're thinking of.

It's still a hell of a lot, of course (I'm going to check the pumps next time to see if they can handle prices above £1).

That IS a lot, I'm having trouble dealing with $2.00+ per Gallon.:crazy:

I don't even want to know what I'll be paying for heating oil this winter. Can you say, 'thermostat set at 60?'

I about fainted today!!! I gassed up last week, and it was $2.12/gal I was really hoping it was going to at least level there, if not drop. I hit the pump today, and it was 2.35 at the cheapest of 3 stations!!! Last month it was $2.50 in the city at the station on Congress :cry:

ETA: We take the trains in the city usually, but my son had a drs appt close to the city, and not on a train route - and I surprised DH for lunch. From now on... All surprises will have to coordinate with the train schedule only!

just so we can see how good we still have it in bu$h-o-Murka.

:freak:

Damn. That came out all weird.

Land Rover Discovery- 12mpg city/ 16mpg highway- 24.6 gallon fuel tank

Mercedes G500 SUV- 13mpg city/ 14mpg highway- 21.1 gallon fuel tank and 2.5 gallon reserve

Toyota Land Cruiser- 13mpg city/ 16mpg highway- 25.4 gallon fuel tank

GMC Yukon Denali- 13mpg city/ 17 mpg highway- 26 gallon fuel tank

GMC Yukon Denali XL- 13mpg city/ 17mpg highway- 31 gallon fuel tank

Cadillac Escolade ESV- 13mpg city/ 17mpg highway- 31 gallon fuel tank

Cadillac Escolade EXT- 13mpg city/ 17mpg highway- 31 gallon fuel tank

Lincoln Aviator- 13mpg city/ 18mpg highway- 22.5 gallon fuel tank

Lincoln Navigator- 13mpg city/ 18mpg highway- 28 gallon fuel tank

That sucks, guess I won't get one of those (If I could afford one).

Just a thought, fill up at a hippy commune near you:)

...can use 100% New or USED Cooking Oil (as long as you filter out all the "Fish and Chips"). AND it's better for the engine and pollutes less.

Here's a link to very informative website:

<http://www.biodiesel.org/>

Filler up!

(I wonder if there is a way you can cook french fries while you drive)