{"id":5193,"date":"2015-01-30T16:05:09","date_gmt":"2015-01-30T15:05:09","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=5193"},"modified":"2015-01-30T16:05:09","modified_gmt":"2015-01-30T15:05:09","slug":"one-thing-learnt-week-energy-costs-2","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=5193","title":{"rendered":"One thing we have learnt this week – energy costs"},"content":{"rendered":"

\"up<\/a>What goes up comes down more slowly, at least it does when its related to energy costs.\u00a0 As the oil price has plunged a variety of different sectors have how can I put it, been slow to pass on the oil price fall.<\/p>\n

Looking at the UK (and I would be interested to know of experiences of those in other countries) sector by sector the picture is as follows;<\/p>\n

Petrol\/diesel\/heating oil<\/strong><\/p>\n

The price falls in oil have have been passed on here quite rapidly.\u00a0 The falls are so large in heating oil, one representative of the heating oil industry was claiming it was now cheaper than using mains gas.\u00a0 The fall in petrol prices is said to be officially about 10% but from a peak of nearly \u00a31.50 (more than that in rural areas) the price is now just above \u00a31 that seems more than 10% to me.\u00a0 So falling energy costs are being passed on here.<\/p>\n

Food<\/strong><\/p>\n

As we have blogged before food is very oil and gas dependent<\/a>.\u00a0 Food costs have rocketed over the last 5 years.\u00a0 Prices of food are now showing modest falls the official figures are just under 2% over 2014 but individual foods have showed much larger falls.\u00a0 Tomatoes are down about 10% and wheat 22% (although part of that can be explained by a good harvest).\u00a0 Food costs still remain much higher than 5 years ago and will have to fall a lot further to get back to those levels.<\/p>\n

Transport<\/strong><\/p>\n

Airlines have yet to pass on the oil price fall.\u00a0 Train and bus fares are continuing to climb.\u00a0 On the latter two this more to do with regulation, subsidy cuts and investment in the rail network.\u00a0 Little sign of falls in energy costs being passed on here.<\/p>\n

Electricity\/gas<\/strong><\/p>\n

Almost continuously in the news over the last few weeks energy suppliers have cut gas prices between about 1.9-5.2% but not\u00a0immediately, the earliest being the end of February.\u00a0\u00a0 Electricity prices have not been cut at all.\u00a0 In a way this is not surprising the energy companies have minimising gas use due its relatively high costs.\u00a0 Nevertheless some electricity cost falls should really be due.\u00a0 The switching sites say the reductions should have been 10%.\u00a0 So no sign of falls in energy costs being fully passed on here.<\/p>\n

What goes up does come down but not as fast as it goes up in the first place -at least when it comes to energy costs!\u00a0 All this is enough to make inflation negative in the EU and possibly the UK, something I’ve never seen.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

What goes up comes down more slowly, at least it does when its related to energy costs.\u00a0 As the oil price has plunged a variety of different sectors have how can I put it, been slow to pass on the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[29,9,17,3],"tags":[74,78,34,57],"class_list":["post-5193","post","type-post","status-publish","format-standard","hentry","category-energy-costs","category-food","category-one-thing-we-have-learnt-this-week","category-peak-oil","tag-energy-costs-2","tag-food-prices","tag-oil-prices","tag-peak-oil-2"],"yoast_head":"\nOne thing we have learnt this week - energy costs - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"description\" content=\"What goes up comes down more slowly, at least it does when its related to energy costs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=5193\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=5193\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=5193\",\"name\":\"One thing we have learnt this week - 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