Price of Petrol?
 

The price of crude oil per barrel has come 50%.
Has the petrol in the UK come down by the same amount?
If not....why not?

Re: Price of Petrol?
 

I paid 98.9 per litre today in Burnley:mosher:not complaining here

Re: Price of Petrol?
 

From £1,16 a litre to 99p is not good value?....some company is having a laugh at your expense.

Re: Price of Petrol?
 

Isn't fuel taxed by volume rather than pro rata? So halving the price of the ingredients won't halve the price at the pump.

Re: Price of Petrol?
 

well this time 4weeks ago i was paying a heck lot more and i drive a gas guzzler so i aint complaining.

Re: Price of Petrol?
 

Have to agree Roy, it doesn‘t seem good value to me. I think we should be seeing a greater reduction at the pumps if a barrel of oil has reduced by 50%

A few months ago when the price of oil went through the roof, the gas price increased and therefore our household energy bills. Reason being they said was that the gas price was globally linked to the oil price for some reason I fail to understand. Has the price of our household gas supplies dropped inline with failing oil prices? Has it chuff. :(

Re: Price of Petrol?
 

Most of the price is tax.

Re: Price of Petrol?
 

It was on the news today that Mr Brown and co have warned the profiteering fuel companies (including gas and electric) to curb the prices, or else! Which is a bit hypocritical seeing as 70% of petrol costs is tax!

Re: Price of Petrol?
 

Because fuel is not taxed as a percentage of the cost. It is taxed as pence per litre.

Only the VAT goes up and down with price changes.

Re: Price of Petrol?
 

Cheapest I have seen it in Accrington at the min is £1-05.9

Re: Price of Petrol?
 

I agree Derek. Read this:

Oil profits: 'It's tax that fuels petrol price' | Shell BP | | This is Money

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.

Re: Price of Petrol?
 

Find the cheapest fuel in your area: Very useful link?

Free UK fuel prices. 9,762 petrol stations covered - PetrolPrices.com

Re: Price of Petrol?
 

I filled up at 96.6 yesterday in Kingston .... :)

Of course, that's 96.6 cents Canadian:dancedog: Now figure out the exchange, and eat your hearts out :hidewall:

Re: Price of Petrol?
 

It's worth paying twice as much for petrol so we don't share borders with the USA... ;)