[Marc]

The latest RAC Report on Motoring is out, with lots of really interesting and useful insights into drivers' views on driving in 2023.

It covers subjects such as the state of the UK's roads, the cost of living, next car choices, how much people depend on cars, and more.

There's a lot of talking points. Here's a link to the RAC website where you can download the full report.

A current talking point is the cost of fuel. Most drivers have seen increases in their expenditure on fuel (87%) or the electricity needed to charge a battery- powered vehicle (83%) in the past 12 months.

The cost of filling up a vehicle is a much bigger issue for younger drivers who have less disposable income.

Here's a quiz for you on the number of drivers who say that the cost of fuel is their top motoring concern.

[Rolebama]

Last week I noticed unleaded locally was 161.9p, whilst my daughter, who lives in Cambs told me she had just filled up for 145.9p. On the same day, Tuesday 31 Oct. From what I can make of it, the old OPEC countries are forcing a shortage to push prices up.

[Drivingforfun]

The vast majority of the price of fuel is tax so I think taxes are more to blame than oil prices

I find it weird that younger drivers find the cost of fuel more of a concern than older drivers. Of course this is just my own, limited, experience, but I have a social/family circle with many car enthusiasts in it. All the older drivers love talking about fuel prices and miles per gallon while younger people are more into boasting about their car's performance.

I suppose the report is supposed to cover all drivers, whether they like cars or not, not just enthusiasts, which would perhaps explain things a bit.

[Marc]

Originally Posted by Drivingforfun

I find it weird that younger drivers find the cost of fuel more of a concern than older drivers. Of course this is just my own, limited, experience, but I have a social/family circle with many car enthusiasts in it. All the older drivers love talking about fuel prices and miles per gallon while younger people are more into boasting about their car's performance.

My take on it is that older people have more money, due to more savings and/or higher paid jobs. I definitely have more cash now than I did in my 20s and 30s

[Drivingforfun]

That seems a perfectly reasonable assumption to me Marc though going from my own observations again but I think older people in general are better at saving small amounts every day - perhaps explains interest in fuel economy - but are more willing/able to make large purchases. Young people seem to be the opposite way around.


In contrast though … I recently took an older relative for a drive in my new car and fuel prices were mentioned. He came up with “if you have to look at the price before filling up it suggests you can’t really afford it”. I have heard that saying hundreds of times before but never thought to apply it to something like petrol. Not sure I agree, as for most it's a need not a want, but did make me think a bit...

[NMNeil]

Originally Posted by Rolebama

Last week I noticed unleaded locally was 161.9p, whilst my daughter, who lives in Cambs told me she had just filled up for 145.9p. On the same day, Tuesday 31 Oct. From what I can make of it, the old OPEC countries are forcing a shortage to push prices up.

I live in Midway which is on the Permian basin, one of the most productive oil fields in the US today.
At my local petrol station I just filled up for $3.08 a gallon, but in Artesia, about 35 miles south, where the oil is pumped from the wells and processed at the local refinery, petrol is at $3.40 a gallon.
So there's no clear cut answer on price disparity.

[Marc]

Originally Posted by NMNeil

I live in Midway which is on the Permian basin, one of the most productive oil fields in the US today.
At my local petrol station I just filled up for $3.08 a gallon, but in Artesia, about 35 miles south, where the oil is pumped from the wells and processed at the local refinery, petrol is at $3.40 a gallon.
So there's no clear cut answer on price disparity.

Is it all sold locally @NMNeil ? I had assumed that it's exported but thinking about it that doesn't make a lot of sense! I guess US-produced oil stays there?

[NMNeil]

@Marc There was a ban on oil exports until the ban was lifted in 2015.
So in 2022 we exported 9.52 million barrels per day and imported 8.33 million barrels a day.
Makes no sense other than someone. somewhere is making a profit.
Remember the golden rule; those with the gold, make the rules.

[Marc]

Originally Posted by NMNeil

Remember the golden rule; those with the gold, make the rules.

I've never come across this one before @NMNeil but I like it! 😁

in 2022 we exported 9.52 million barrels per day and imported 8.33 million barrels a day.

Someone somewhere is making good money. In simple terms I'm guessing the export prices must far outweigh the import costs. No idea how, because oil is oil, right?

[Rolebama]

I believe all energy prices are set by the producers, whether it be petrol or electricity.
The idea of selling off part of what is produced as 'exports' and making up a deficit through 'imports' is a total scam, and 'international trade deals' just a throwaway phrase to try to legitimize said scam.

[NMNeil]

On a side note, but still relative to the posting.
We had a big company who wanted to build a massive solar farm here. I went to one of the public meetings and asked how much will our electricity bills will drop. Lots of evasive answers but I persevered and finally found out that the generated electricity was destined for Arizona and California, rather than here in New Mexico, because they would pay more.

[Beelzebub]

Originally Posted by Marc

I've never come across this one before @NMNeil but I like it! 😁



Someone somewhere is making good money. In simple terms I'm guessing the export prices must far outweigh the import costs. No idea how, because oil is oil, right?

AIUI no, it isn't! North Sea crude is different from Gulf crude, for example.

Much the same as coal. In the steam railway industry (or community?) the quality of imported coal is lamented, and when we produced our own coal, Welsh was superior to that from other parts of the UK. And we're told that coal from the proposed new pit in Cumbria will be unsuitable for our steel industry.

[Marc]

Originally Posted by Beelzebub

AIUI no, it isn't! North Sea crude is different from Gulf crude, for example.

Much the same as coal. In the steam railway industry (or community?) the quality of imported coal is lamented, and when we produced our own coal, Welsh was superior to that from other parts of the UK. And we're told that coal from the proposed new pit in Cumbria will be unsuitable for our steel industry.

Well I've def learned something new today! Thanks @Beelzebub In retrospect what you say it makes sense. Water quality isn't the same all over. Neither is soil. So why should oil be?

On a side note it does seem weird/unfortunate that we're opening new coal pits.

[Marc]

Originally Posted by NMNeil

On a side note, but still relative to the posting.
We had a big company who wanted to build a massive solar farm here. I went to one of the public meetings and asked how much will our electricity bills will drop. Lots of evasive answers but I persevered and finally found out that the generated electricity was destined for Arizona and California, rather than here in New Mexico, because they would pay more.

Interesting indeed @NMNeil They'd pay more because they need it more?

[NMNeil]

@Marc They can just sell it for more.
Consumers are charged 30c / kwh in California, but only 16c / kwh here in NM.
They double their money if they sell the power in California, simple.