Gas down 25% to 374 pence a therm - still extremely high, just not as off scale…
Economists such as Capital Economics now see avg fuel bills 2.5-3k, inflation peak at over 8%, (or nearly 11% on Retail Price Index), and perhaps as important remaining above 6% for rest of 2022…
Seen a few of these - significant diesel spike with margin above petrol here up at 18 p - normally 3-4p. to be clear these are well above average price, but at these most expensive stations, diesel not far off £2 a litre… and already above £100 a tank…
Average prices via RAC are 158p for unleaded and 165 for diesel…
Yesterday the petrol station I filmed at lunch time at 158/ mid 160s, had gone up over 3-4p per litre by 9pm…
Why? although the embargo on Russian imports is being phased in, Russia source for a third of diesel imports into UK, (18% of demand) according to Government data
Govt: RA “a pro-Kremlin oligarch.. assoc with a person who is/has been involved in destabilising Ukraine & undermining & threatening territorial integrity, sovereignty & independence of Ukraine, namely Vladimir Putin, with whom ABRAMOVICH has had a close relationship for decades”
Govt says that steel maker Evraz Plc over which Abramovich “exercises effective control” “is or has been involved in … potentially supplying steel to the Russian military which may have been used in the production of tanks”
Looks like quite the olive branch/ off ramp to Putin here from President Zelenskyy:
“The people who elected me are not ready to surrender, we are not ready for ultimatums. But we can discuss with Russia the future of Crimea and Donbas”. president.gov.ua/en/news/ukrayi…
…in particular regarding the recognition of the independence of the occupied territories of the Donetsk and Luhansk regions, the Head of State noted that a compromise is possible on this point… 👀
Zelenskyy: “It is important to me how people who want to be part of Ukraine will live there. I am interested in the opinion of those who see themselves as citizens of the Russian Federation. However, we must discuss this issue…”
Poland hands over all its MiG jets to the USA… who will replace with equivalents, and asks other western nations with MiGs to do the same… gov.pl/web/diplomacy/…
The Polish Air Force obtained the Mig-29s from direct purchases as Soviet Union fell, and from East German and Czech air forces too…
about 70 similar planes around NATO countries that could be used by Ukrainian AF pilots, apparently… considerable upgrade on Ukraines 98 combat aircraft, 37 Migs pre-war… danger to those massive Russian columns.
But interested to know why drones aren’t the most effective itc
Shell announces “its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, gas and LNG in a phased manner, aligned with new government guidance”.
Stopping spot purchases of Russian crude and shutting its petrol stations there
The embargo on Russian oil is happening non officially… contributing to price rises…
Shell were called out by the Ukrainian foreign minister over the weekend …
NEW
Rouble finding another cliff to fall off this morning after last week - new record low against the dollar this morning - now 129 to $1, or seven tenths of a US dollar cent…
Range of reasons - but the mulling of a ban on purchase of crude oil from Russia in some form has hit rouble and sent Brent crude oil up 10% to 14 year highs of $129 per barrel, having reached $137 on opening…
The talk came from US Sec of State Blinken yday “We are now in very active discussions with our European partners about banning the import of Russian oil to our countries, while of course at the same time maintaining a steady global supply of oil”…