zip106

Surprised theres no ranting on here about this (unless I've missed it?)

http://www.bbc.co.uk/news/business-21208524

Something really does need to be done - didn't Osbourne pledge to watch the fuel companies 'like a hawk'?

What, a ****ing blind hawk?

f1_fan

iTrader: (9)

Don't worry, the Fairfuel campaign will sort it out

It needs government intervention and as the VAT rises with the price it won't be getting any as they are too stupid to realise that the Leffer curve is in play here and overall their revenue is dropping as people just don't use as much as they used.... they simply cannot afford it!

zip106

I thought you'd be first in

Reading that article really has made me angry.

I'd always been a little 'it is what it is, we have to pay it' type of chap.
But now I can see we're being taken for mugs not just by the gov but the fuel companies.

It's also not a question of being able to afford it - I'm lucky that at the moment I can, even if it was £1.80 - £2 pl, (wouldn't like it, but i have no choice in driving) but the principle of the whole scam is pissing me right off.

f1_fan

iTrader: (9)

I have been saying for ages that the fuel companies are as complicit as the government in the whole petrol price saga not that that lets the government off the hook in any way.

It is a rip off and is made all the worse for the fact that for many it's an essential not a luxury as so many people need a car to get to work etc. and then there are the haulage companies bearing extra costs which affects the price of everything.

I know a good few people near me who no longer do things at weekends with their family or certainly not as often as they just can't afford the fuel any longer.

It's not right, but I doubt anything will ever be seriously done about it!

alcazar

iTrader: (2)

Been saying this for YEARS.

The government hides behind the usual, "What can weeeeeee do?" whilst holding out their hands for the revenue, and the petrol companies whine about making no profit from petrol and diesel, whilst trousering some of the highest profits anywhere, year after year.

NEVER gonna get any better

ScoobyWon't

chocolate_o_brian

iTrader: (22)

I now ride to work when I can and have probably reduced my fuel bill by 40% overall. So there's £800 less they're getting on an average fuel bill of £2,000 off me alone.

StevieL81

It's not changed in Wales for a while now that I've noticed (Tesco Ebbw Vale or the Shell at Cardiff services) but I did get bummed for Shell V in Bordon at £1.469 on Thursday, robbing fatherless'!

stevebt

iTrader: (8)

Why would the government do anything about the increase when they want to raise the price to gain more duty. It's just an easy out for them to get more money and its nothing to do with them. Can't be long before a proper £2 litre?

kevo10

But until theres a real alternative to petrol and dtesel ,not a lot anyone can do. Electric powered and hybrid are only a viable alternative while we have any oil and gas. When someone comes up with a viable power source they will give the oil producing countries and companies a right shafting , same as the one we all have everytime we fuel up

saints_forever

I've seen exactly the same things with my friends and family. We used to do quite a few UK weekend breaks, travelling to Lake Distirct, Scotland etc, but it just costs too much to do now. I'm sure the knock on effect sees UK tourism economy suffering slightly by these fuel increases! Just shows the governments short sightedness!

BILLETBEANZ

iTrader: (1)

Thats why we are in recession coz the goverment are drinking us dry and living like fat pigs themselves.

ScoobyWon't

Let's hope the Aussie's really have found 233 billion barrels of oil, as was claimed this week. More supply, on theory, should stop the prices going up so quickly.

f1_fan

iTrader: (9)

Duty is a fixed anount per pitre but you're rigth as far as VAT goes as that is a percentage obviously.

f1_fan

iTrader: (9)

Exactly, although a plus you will be keeping fit

Precisiely, the klnock on effect is much bigger than just petrol revenue.

ScoobySteve69

iTrader: (13)

That was a lucky find. I bet the people who lost them are kicking themselves

scunnered

iTrader: (1)

That BBC article doesn't really make much sense to me. They're saying if the price of crude was to rise by 5p, then the price at the pump should rise by a similar amount.
As I understand it, the biggest portion of the cost of petrol is tax. I believe only about 30% of the price we pay is down to the cost of crude. So by my understanding, we should only pay 30% of the 5p increase (1.5p). Am I missing something?

ScoobySteve69

iTrader: (13)

No you`re not. Some expert said that the cost being passed on to us should be 1p and he has no idea where those figures of 4p are coming from......I think we all do

markjmd

iTrader: (11)

Well, in fact, you're overlooking something which should be pretty darned obvious, although you're apparently not the only one. The 30% (in reality closer to 35%) of the price of petrol you pay at the pump which isn't VAT or duty, is the price that petrol retailers buy the product at from petrol wholesalers, and what the article says is that wholesalers have put their prices up by 5p, not retailers. It therefore doesn't make a blind bit of difference what % of the total price is VAT or duty, all that matters is that the guy you buy from is being charged an extra 5p per liter by the guy he buys from, so either he just sucks that up, or he passes the increase on to you. Is it really that complicated?

Chip

Really well thought out reply that .

f1_fan

iTrader: (9)

Price of a litre of petrol is roughly as follows;

Cost of product £0.46, duty £0.58, retailer/refinery margin £0.08, VAT £0.22 = £1.34

If product cost goes up 5p then it will be:

Cost of product £0.51, duty £0.58, retailer/refinery margin £0.08, VAT £0.23 = £1.40

Remember duty is a fixed rate, VAT is a percentage!

So yes if it goes up 5p wholesale it goes up 5p + 1p VAT (20%) at the pump!

f1_fan

iTrader: (9)

There is an element of truth to it though..... the economy will not grow that well while many can't afford to go anywhere.

HAGGY

iTrader: (1)

we should all stand together , this country is just ripping us off !! we all moan but do nothing about it !!!

hodgy0_2

I am afraid collective action went out of vogue with the de-unionisation of the 70’s and 80’s

It is everyman for himself I am afraid

Chip

But on a plus point that leaves more space on the roads for those of us that can

f1_fan

iTrader: (9)

Yep, a legacy of dear old Margaret

f1_fan

iTrader: (9)

Well enjoy it while you can as according to Mattee "BMW" Boy the economy is going to go into complete thermonuclear meltdown in a year or two anyway

Chip

And how is this going to change things for me then??

f1_fan

iTrader: (9)

Well think a combination of Mad Max 2 and The Waltons.... you will be raped and pillaged.... but not necesarily in that order

Chip

I can't wait