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Studio25 · 17-10-2008, 14:20

55.65p Fuel duty
17.02p Crude Oil
12.35p Refining and transport
14.88p VAT

99.9p Total per litre - current price.
Double the price of the "crude oil" component above, and factor in the resulting effect on VAT, and you get 119.9p which was its peak price.

It's not tax that fuels the increase, that just affects the basic price. Fuel duty went up by 2p on 1st October, (2.35p when you include VAT) which does not explain the wild changes we've seen this year.

17-10-2008, 14:20	#12
Studio25 Senior Member Join Date: May 2008 Location: Great Harwood Posts: 941 Liked: 153 times Rep Power: 13073	Re: Price of Petrol? 55.65p Fuel duty 17.02p Crude Oil 12.35p Refining and transport 14.88p VAT 99.9p Total per litre - current price. Double the price of the "crude oil" component above, and factor in the resulting effect on VAT, and you get 119.9p which was its peak price. It's not tax that fuels the increase, that just affects the basic price. Fuel duty went up by 2p on 1st October, (2.35p when you include VAT) which does not explain the wild changes we've seen this year. __________________ Last edited by Studio25; 17-10-2008 at 14:22.