Lowest Cost Petrol Compared to Wages and Inflation?

[@thomaswalsh2080]

Haven’t even watched the video yet: but just off of the thumbnail. Great to see some positive news. All we seem to get at the minute from most social media is negativity. Keep up the great work Richard 🙂

[@EagleFPV43]

Diesel was 1.28 in my area some days ago, even cheaper at cosco. It's pretty insane considering it was 2 quid a little while ago

[@JustSmurfinAround]

Would be interested to see car prices/insurance/tax/MOT compared to wages/inflation too. Really interesting video!

[@teaboyuk]

Passed summer 2001 (I actually remember the fuel shortages and protests) and it was £0.69p/L. Costco Diesel last week was £1.30/L lowest since May 2020 covid

[@johnwong7899]

Hi Richard, just drop by to say thank you as I passed my driving test last week. Your video tuition and mock tests helped a lot!

[@HEKVT]

I was surprised to see the diesel price today being 1.36, a pleasant surprise for sure.

[@Stvbz]

its crazy that google/some websites think the average is 35k a year. most people would love to even be near a wage like that. that being said good video

[@flumpyflumpy3515]

I remember paying 87 pence for petrol yet my income has remained the same!!

[@paulm3921]

Just turning up isn't working. 🤷‍♂️😁

[@jasimrans.a.n]

Thank you, RIchard 🙏🏽🙏🏽

[@watchmejumpstart24]

Technically it's only cheaper if you actually earn more money. I still dont even earn 19,344 from the 2004 price point lol

[@stephenwakeman3074]

No. Technically you just don’t understand the concept of relative cost comparison. The amount an individual earns is irrelevant if the current cost of the same commodity is lower in various relative terms I.e. as a proportion of average income, as a function of projected inflation etc. Having more money doesn’t make anything cheaper, it simply makes the expenditure less significant against your ability to bear the cost.

[@paulm3921]

Work harder.

[@goobiedoo02]

I first started driving just a couple years ago when diesel was close to £2 a litre, so that just seemed normal to me at the time. Now it’s down to about 1.32 around here, so to me fuel seems really cheap simply because all I’ve known is for it to go down massively

[@targettmark88]

very interesting info i enjoyed this one :)

[@DJ_RIBBZ_OFFICIAL]

1.23 around here

[@seanrodger]

The petrol station at 124 is just up the road from me, always queuing at every pump!

[@NorthernSystems]

If you have a costco membership, it's as low as ~£1.21 per litre, but it is a subscription required sale.

[@ricequackers]

Nice analysis, in fact it's so cheap that it's currently difficult to justify an electric car unless you have your own home charger and a cheap night rate. Electricity in comparison is very expensive right now, and especially so if you charge from public chargers where it can cost 80p/kWh! The other "unfortunately" is that the price of cars, insurance, taxes and maintenance have all shot up. A friend recently brought up a good example - the Focus ST in 2004 cost just below the median wage, while today it costs a good £5k-£6k above the median.

[@shaunhutchinson4707]

Another thing to consider is not just inflation and people's salary, but also the relative cost of living (harder to work out and take an average of I know). Petrol might be cheaper now than it was ten or twenty years ago, but to many people it might not feel like it because the cost of food, utility bills and everything else is so much more and therefore people have less disposable income in general month to month, so paying £40 now to fill up feels like more of a hit than spending £60 to fill up ten years ago despite as you have shown, we are getting more petrol for our money and it going a longer way assuming you have a modern car with better thermal efficiency etc.

[@FlawedFabrications]

The most telling sign is that I haven't heard anyone complain about petrol prices for ages LOL.

[@Xaid0nTT]

Colchester is still getting ripped off though compared to other towns. Cheapest here is £1.34 for unleaded, though most are around £1.38, still 8ppl more expensive than the next nearest cheapest station (the Esso you showed 10 miles North of Colchester). Even in rural Suffolk, there's plenty of service stations that are cheaper. It all adds up when you're filling a full tank.

[@stuwhite2337]

You look very young given you passed your test in 2004! I've got an MGB so definitely not using less in that car though my Mazda 6 is also pretty fuel efficient

[@illegalopinions4082]

Friendly reminder that almost half the price of the pump is fuel duty, a stealth tax to push up the price. This does not include VAT.

[@AdamHinckley]

if you are able to, do one on how to read the tower thing at the petrol station

[@AdamColl]

Wish you could get petrol at £1.24 or even £1.27 round here it's still £1.35 but we're always ripped off round here. Go up the Lakes for a day out and it's miles cheaper even in a tourist area in the middle of nowhere

[@MankiranKamaal]

I cannot tell you enough that your aura is really nice

[@paulm3921]

That thing that doesn't exist? Thought so.

[@JackRiley007]

I saw unleaded for 163 a couple days ago 😭

[@apexclipitalia294]

I've never seen him out of a car. That was surprising.

[@JohnCarlyle]

How about car prices? and car insurance premiums?

[@paski5113]

Labours October budget is about to make it £2 per litre

[@paulheinz5757]

Nice to see you have finally done a non 'Shorts' upload, ditch those please in the future and concentrate on proper videos

[@harrisonhealey1679]

I think there’s a psychological aspect, people start complaining when they see it getting to about £1.50 and above and then stop driving as much which means the oil depots need to reduce the price to get the buyers back.

[@noahjohnson8740]

Fuel is a fairly inelastic good, people have to buy it no matter what to a large extent. Think of all the transport and shipping industries reliant on it, loads of other commercial uses and commuting, that can't really be changed by just 'driving less' when you feel like it

[@possiblyunmatched1323]

Wagwan

[@csmeinert]

Don't worry, Liebour will soon increase fuel duty, so we're all paying more than inflation!😡

[@CraigTheBrute-yf7no]

Blud

[@TommyCullen-VacuumConnisour]

alreet fella

[@AM2K2]

Is this before or after WW3?!

[@PaulB-q3d]

Don't forget most of it is tax! Now do electricity... You gotta love NutZero!

[@stephenwakeman3074]

What’s net zero got to do with fuel duty? Kudos to successive UK governments taxing the shit out of fossil fuels. Or would you prefer a US style system where fuel is dirt cheap and people die of diabetes and asthma because they can’t afford insulin and ventolin costing hundreds of dollars?

[@CraigTheBrute-yf7no]

Not for much longer. Thanks to Gods chosen. If you know you know.

[@paulm3921]

You obviously don't. 😝🤡