Fuel price tracker

[Sid]

FarmDeals is starting to build a few suppliers nicely now, worth getting prices from

Farming Products | Farmdeals

Farmdeals is a digital buying group that gives our farmer members access to the lowest product prices for farming products through web and mobile app. There are no membership fees, no minimum spend and no commitment required. Just savings and convenience for you.

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it’s quoting me 50.91p for red today from best supplier

I signed up, said it will let me know when it goes live ?

 

[Clive]

I signed up, said it will let me know when it goes live ?

approval / account creation is s manual process at the moment, it is live so you will get a email in the next few days inviting you to download the app im sure which will include your account number

process should be automatic soon though

 

[shumungus]

3000l red delivered this morning.
51.25p

 

[Courier]

100.29 derv pump price next week so easing a fraction....

 

[farmerste]

2000litres red delivered yesterday was 52ppl

 

[4course]

our most used supplier has broached the subject of price fixing for harvest , previously weve not had the usage to qualify as they wanted 50,000 lt commitment now it seems they are bulking a few farmers up so am thinking we should take the offer up for half if below 5% over today/last weeks delivery

 

[Brisel]

Bit the bullet and forward bought 20k litres gas oil for harvest 2021 @ 55ppl. It's a gamble time will tell if it was the right decision.

Ordered 6k today at 53.95ppl.

We've just ordered some for harvest at that price. I'm doing my budgets & can't see it being under 60 ppl by harvest. Time will tell...

 

[BRBX]

Just have a feeling that oil companies will want to make up for lost revenue so price likely to keep creeping up and after lockdown everyone will be on the road and create a rise anyway, harvest lock in looks sensible.

 

[PSQ]

Today:
7500L gas oil, 51.5p
2300L Kero, 38.95p

Also discussed a fixed price deal (closed a week back) for now through to harvest, but it worked out at 2.65p more than the current price for red, and about 4p more for kero.
Time will tell.

 

[Brisel]

There will be a carry in the market for fuel like there is for grain, so you can't expect August fuel to be the same as March.

 

[Norfolkboy]

There will be a carry in the market for fuel like there is for grain, so you can't expect August fuel to be the same as March.

Lower in August, is that what you are suggesting? Thanks

 

[Brisel]

Lower in August, is that what you are suggesting? Thanks

No. If you sell wheat today, you'll get a lower spot price than July. The cost of fuel forward bought goes up by a certain amount per month too, to cover the cost of money. We bought August delivery fuel now because we think it's going up by more than that if we don't price it until August.

 

[Courier]

There will be a carry in the market for fuel like there is for grain, so you can't expect August fuel to be the same as March.

Not sure if that is really the case - after all the oil is being produced all year around and can be turned on or off (with no small amount of difficulty) whereas there are only two harvest periods per year, one in the northern hemisphere and one in the southern.

 

[Brisel]

Not sure if that is really the case - after all the oil is being produced all year around and can be turned on or off (with no small amount of difficulty) whereas there are only two harvest periods per year, one in the northern hemisphere and one in the southern.

Jeez. I give up. Do you not understand the concept of a carry? Monthly price increments are to cover the interest and a margin for the broker. Read this:

Cost of carry - Wikipedia

en.wikipedia.org

The merchant needs to make a margin on the deal to cover the admin and a profit for themselves. That's part of why the August price is 55p when today's is 51p

 

[Richy12]

1500L red @ 53.95p

 

[sticky]

Village garage is now 130.9 for diesel.

 

[Courier]

Jeez. I give up. Do you not understand the concept of a carry? Monthly price increments are to cover the interest and a margin for the broker. Read this:

Cost of carry - Wikipedia

en.wikipedia.org

The merchant needs to make a margin on the deal to cover the admin and a profit for themselves. That's part of why the August price is 55p when today's is 51p

Aaaah, Live and learn then, I was under the impression it was due to some sort of seasonality charge / cost - As I said "Not sure" that comparing a seasonal product to a non-seasonal one was a good example.

 

[Brisel]

Aaaah, Live and learn then, I was under the impression it was due to some sort of seasonality charge / cost - As I said "Not sure" that comparing a seasonal product to a non-seasonal one was a good example.

I see. I could have picked a better comparison.

 

[Lincsman]

Jeez. I give up. Do you not understand the concept of a carry? Monthly price increments are to cover the interest and a margin for the broker. Read this:

Cost of carry - Wikipedia

en.wikipedia.org

The merchant needs to make a margin on the deal to cover the admin and a profit for themselves. That's part of why the August price is 55p when today's is 51p

Interestingly, when interest rates become negative the reverse will be true, £101 now will be worth less than £100 in 6 months time.

 

[Farma Parma]

I see. I could have picked a better comparison.

The Oil Co could end up taking a loss on fuel advanced orders plenty wont even entertain that game