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Royboy39 16-10-2008 21:42
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?

Polly_45 16-10-2008 21:56
Re: Price of Petrol?
 
I paid 98.9 per litre today in Burnley:mosher:not complaining here

Royboy39 16-10-2008 22:02
Re: Price of Petrol?
 
Quote:
Originally Posted by Polly_45 (Post 641988)
I paid 98.9 per litre today in Burnley:mosher:not complaining here
From £1,16 a litre to 99p is not good value?....some company is having a laugh at your expense.

Studio25 16-10-2008 22:32
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.

Polly_45 16-10-2008 22:39
Re: Price of Petrol?
 
Quote:
Originally Posted by Royboy39 (Post 641989)
From £1,16 a litre to 99p is not good value?....some company is having a laugh at your expense.
well this time 4weeks ago i was paying a heck lot more and i drive a gas guzzler so i aint complaining.

Bonnyboy 16-10-2008 22:40
Re: Price of Petrol?
 
Quote:
Originally Posted by Royboy39 (Post 641989)
From £1,16 a litre to 99p is not good value?....some company is having a laugh at your expense.
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. :(

shakermaker 16-10-2008 23:32
Re: Price of Petrol?
 
Most of the price is tax.

derekgas 17-10-2008 06:51
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!

Neil 17-10-2008 09:04
Re: Price of Petrol?
 
Quote:
Originally Posted by Royboy39 (Post 641983)
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?

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.

AccyLass 17-10-2008 09:52
Re: Price of Petrol?
 
Cheapest I have seen it in Accrington at the min is £1-05.9

Royboy39 17-10-2008 09:54
Re: Price of Petrol?
 
Quote:
Originally Posted by derekgas (Post 642013)
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!
I agree Derek. Read this:

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

Studio25 17-10-2008 14:20
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.

Royboy39 17-10-2008 14:56
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

Eric 17-10-2008 18:34
Re: Price of Petrol?
 
Quote:
Originally Posted by Polly_45 (Post 641988)
I paid 98.9 per litre today in Burnley:mosher:not complaining here
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:

Studio25 18-10-2008 00:55
Re: Price of Petrol?
 
It's worth paying twice as much for petrol so we don't share borders with the USA... ;)

Boeing Guy 18-10-2008 06:59
Re: Price of Petrol?
 
Yes but Fuel Duty is a Tax levied by our government.
To be fair to the oil companies, 30 pence is not bad considering what they have to do, to find, drill, ship, refine, store, ship again, make a bit of profit, sell to the petrol station, and for the station to make a bit of profit.
Now forgive me for being wrong here, but doesn't the Government just sit on their big fat a###'s and take all our money to give to the banks so we can borrow our own loney and pay interest on it?

jambutty 18-10-2008 08:00
Re: Price of Petrol?
 
Quote:
Originally Posted by Boeing Guy (Post 642245)
Yes but Fuel Duty is a Tax levied by our government.
To be fair to the oil companies, 30 pence is not bad considering what they have to do, to find, drill, ship, refine, store, ship again, make a bit of profit, sell to the petrol station, and for the station to make a bit of profit.
Now forgive me for being wrong here, but doesn't the Government just sit on their big fat a###'s and take all our money to give to the banks so we can borrow our own loney and pay interest on it?
That’s about it in a nutshell, although your forgot to mention VAT.

Eric 22-10-2008 20:00
Re: Price of Petrol?
 
Filled up at 93.6 today .... if I chose to drive the 40 klicks to Tyendinaga Mohawk Territory, I probably could have got it for under 90 cents. I still think that this is a little too much ... I predict that when the major oil companies release their quarterly statements we will still see massive profits.

Bonnyboy 22-10-2008 22:40
Re: Price of Petrol?
 
Quote:
Originally Posted by Eric (Post 643763)
Filled up at 93.6 today .... if I chose to drive the 40 klicks to Tyendinaga Mohawk Territory, I probably could have got it for under 90 cents. I still think that this is a little too much ... I predict that when the major oil companies release their quarterly statements we will still see massive profits.
Hope you didn’t go to the trouble of digging out your crystal ball to make that prediction Eric. There’s certainly no shame in big business. :(

Eric 30-10-2008 20:22
Re: Price of Petrol?
 
Quote:
Originally Posted by Bonnyboy (Post 643805)
Hope you didn’t go to the trouble of digging out your crystal ball to make that prediction Eric. There’s certainly no shame in big business. :(
Nah, it came off the top of my head ... kinda like predicting that the sun will rise in the east tomorrow morning;)

George Walker 30-10-2008 20:39
Re: Price of Petrol?
 
I have just filled up today 92.9 cents per litre

Royboy39 30-10-2008 20:46
Re: Price of Petrol?
 
In Spain today.....1.04 Euros litre for unleaded 95...Thats 80p.

jaysay 31-10-2008 10:39
Re: Price of Petrol?
 
Well not driving now, I don't really appreciate the impact of the petrol situation, but it must be bad, as mate of mine came round the other day and was telling me it had just cost him 95p to fill his fag light up:D


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