Fuel tumbling

At last... Long time over due. My question is? Do we couriers bring the ppl down, I for one say it still needs increasing after all its fuel thats come down , everything else is ridiculously still high.......... So I say to fellow professional couriers keep the rates or better still hype them up to the big boys... Just sayin'. And Merry Christmas..

Why on earth would you bring prices down? I imagine very few raised prices as fuel costs went up.

Once Russia has been sorted out fuel prices will rise again and if you have lowered your rates I imagine it will be quite hard to raise them.

When the Government drops it's tax rate on fuel then maybe... No only joking! Lol

Charge less because our overheads have dropped a few % temporally ? Noooooo

Nobody paid subbies anymore when fuel went up 6 years ago, so people aren't going to work for less money you need your mumps feeling and what a ridiculous comment.

AJM sameday Couriers said:

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Nobody paid subbies anymore when fuel went up 6 years ago, so people aren't going to work for less money you need your mumps feeling and what a ridiculous comment.

Actually, (although not as long ago as six years) TNT increased their payments to subbies by 8%, to 54pplm for small vans. Made them all feel so much better.

I know a company still charging customers 8% fuel surcharge now! Makes you wonder if people check their invoices

I'm not sure how much further diesel prices can realistically be expected to fall. Locally, I can now buy at 113.9 and quite widely at 114.9p. Given that Vat on this price is 19p and duty is 56p (IIRC) then that only leaves 40ppl for the forecourt, distribution and product, so maybe only 35p is directly down to the product, and the most I can see oil fallin is another 20% tops (which would take it below the financial crash lows, so even that is a big ask).

I'm wondering if any larger couriers hedge their fuel purchases, as I am now looking at doing. I'd quite like to lock in these prices for the next 2 years and am looking at using IG Index spreadbets on the London Gasoil contract. I reckon that fixing a £20k position might only tie up around £500 of capital. In practise, if prices rise then i pay out more at the forecourt but profit from my spreadbet tax-free. On the downside, my position loses money if prices fall further, duty rises cannot be hedged against (I expect an 'emergency' budget after May with a duty rise), sterlings continued weakness will raise fuel prices indirectly and is harder to hedge against. Seems an obvious thing to do really given that it is the largest and a variable expense.

NC Couriers said:

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I'm not sure how much further diesel prices can realistically be expected to fall. Locally, I can now buy at 113.9 and quite widely at 114.9p. Given that Vat on this price is 19p and duty is 56p (IIRC) then that only leaves 40ppl for the forecourt, distribution and product, so maybe only 35p is directly down to the product, and the most I can see oil fallin is another 20% tops (which would take it below the financial crash lows, so even that is a big ask).

I'm wondering if any larger couriers hedge their fuel purchases, as I am now looking at doing. I'd quite like to lock in these prices for the next 2 years and am looking at using IG Index spreadbets on the London Gasoil contract. I reckon that fixing a £20k position might only tie up around £500 of capital. In practise, if prices rise then i pay out more at the forecourt but profit from my spreadbet tax-free. On the downside, my position loses money if prices fall further, duty rises cannot be hedged against (I expect an 'emergency' budget after May with a duty rise), sterlings continued weakness will raise fuel prices indirectly and is harder to hedge against. Seems an obvious thing to do really given that it is the largest and a variable expense.

I have no idea what that means or if it has any revelence to passing fuel costs across but good luck anyway. As far as i'm concerned no one gave a shit when we were struggling so i'm buggered if i'm going to give a discount!

My price stays people dont pay us more when iy goes up. If their happy am happy.

PHAX said:

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My price stays people dont pay us more when it goes up. If their happy am happy.

Over the long term the price of oil, and in turn vehicle fuel is only ever going to be on an upward trend as there's less of the black stuff left in the ground and it gets more expensive to extract. I didn't notice the utility companies being in any hurry to reduce their price when the cost of wholesale gas went down for a bit, so why should you.

I have no idea what that means or if it has any revelence to passing fuel costs across but good luck anyway. As far as i'm concerned no one gave a shit when we were struggling so i'm buggered if i'm going to give a discount! Me too got lost after 56p (IIRC)

Threats of it hitting a quid a litre by the weekend thanks to the supermarkets ( for petrol mind ) with locals at 114 on dirty diesel local to here.

Wonder what 28 sec heating oils at now then... lol

Paid 112p a litre in Bolton today

Another 4% lopped off the oil price today - US crude now below $48. Shame that £ is getting whacked at the same time.

110.9p at Hinckley today. Very welcome.

I'm just finishing off some research on IG Index futures with the aim of fixing my fuel purchases for the next 2 years at these prices and will attempt to document the results here. Trying to insure against price shocks is something that arable farmers have been doing in the US for well over 100 years, and shouldn't be beyond most courier operators.

NC Couriers said:

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110.9p at Hinckley today. Very welcome.

I'm just finishing off some research on IG Index futures with the aim of fixing my fuel purchases for the next 2 years at these prices and will attempt to document the results here. Trying to insure against price shocks is something that arable farmers have been doing in the US for well over 100 years, and shouldn't be beyond most courier operators.

Is 110.9 supermarket fuel?

London yesterday Holloway rd Gulf station diesel 144Lt 200 yards down the road shell station 118 perl ltr mad

AJM sameday Couriers said:

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NC Couriers said:

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110.9p at Hinckley today. Very welcome.

I'm just finishing off some research on IG Index futures with the aim of fixing my fuel purchases for the next 2 years at these prices and will attempt to document the results here. Trying to insure against price shocks is something that arable farmers have been doing in the US for well over 100 years, and shouldn't be beyond most courier operators.

Is 110.9 supermarket fuel?

No. 1 texaco garage and one that's currently switching from total to gulf, virtually opposite each other. We have supermarket fuel in town from morrisons and Tesco but recently both have not been the cheapest. We also have a couple of unbranded forecourts which are also regularly cheaper. Some fuel cards I enquirer with this week were offering fixed prices for the week of 92p plus vat, which seemed a good deal until today's drops - maybe the fuel card rates are more responsive?

NC Couriers said:

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110.9p at Hinckley today. Very welcome.

I'm just finishing off some research on IG Index futures with the aim of fixing my fuel purchases for the next 2 years at these prices and will attempt to document the results here. Trying to insure against price shocks is something that arable farmers have been doing in the US for well over 100 years, and shouldn't be beyond most courier operators.

Probably still £1.41 plus at Tallis's!

ATM Logistics said:

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NC Couriers said:

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110.9p at Hinckley today. Very welcome.

I'm just finishing off some research on IG Index futures with the aim of fixing my fuel purchases for the next 2 years at these prices and will attempt to document the results here. Trying to insure against price shocks is something that arable farmers have been doing in the US for well over 100 years, and shouldn't be beyond most courier operators.

Probably still £1.41 plus at Tallis's!

I'd bet on it ;)

This place is a van hire company of certain 'repute' locally. They have a nice thing going where they will take a van that's you've bought back, park it on a specially sloping part of the forecourt and always manage to get another tenner a fuel in the tank (at 141ppl) even when you've filled it up down the road. I've always suspected that the other part of the scam is someone round the back with a pipe!

I once filled the van up at Texaco, and they got an extra tenner in for 2-3 miles down the road... I think they pour it into the drain

They once tried to sue me for breaking down in one of their vans, so I started my own van hire company, which handily covers the carriage of goods for hire and reward so I can rent them to fellow courier folk!

I'm a fellow courier folk that would be interested in prices.

PHAX said:

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I'm a fellow courier folk that would be interested in prices.

Feel free to drop me a PM/email

Fuel prices increasing hurry put your prices up don't delay