Fuel prices

[gsm1968]

Just filled up at Strensham on the M5.

 

Cost £1.25 / litre

[cap1len]

fuel prices are not set by goverment. They are directly linked to the price of crude oil, this is as we all know is an internationally traded commodity and as such the currency used is the US dollar.

therefore high crude oil price and weak sterling to dollar ratio equals high fuel prices. yes the goverment does take a large slice of tax from it but if it wasnt fuel they were taxing it would be something else and it doesnt matter which party is in goverment they need to raise revenue to run this wonderful country of ours.

[alexr]

fuel prices are not set by goverment. They are directly linked to the price of crude oil, this is as we all know is an internationally traded commodity and as such the currency used is the US dollar.

therefore high crude oil price and weak sterling to dollar ratio equals high fuel prices. yes the goverment does take a large slice of tax from it but if it wasnt fuel they were taxing it would be something else and it doesnt matter which party is in goverment they need to raise revenue to run this wonderful country of ours.

yes this is true but the rise in duty is a big issue and as pointed out above a 2% drop in revenue caused by halving fuel duty would be easily absorbed into the hoped for post recession growth in revenues, and would reduce fuel costs by about 30p a litre as far as I can see. This in turn would stimulate further growth in the economy and theoretically would pay for itself in fairly short order.

Edited March 20, 2010 by alexr

[fullbore]

Try saying that to the thousands that have lost thier jobs after 25 years and maybe you should try being in the position of escorting someone off location after they have been made redundant.

 

Companies are made of people....why is this any different to a builders, joiner firm going bust?

 

 

Very true, but how come the price of fuel varies so dramatically throughout Europe? England is the most expensive, and it's the same oil companies that supply Europe

[steve_b_wales]

Well the crook who has a franchise in my local (and only garage) TEXACO in my town is now charging 120.9 for diesel. As mentioned in a previous post, he increased the cost of fuel by 1p per day for 4 days. His other 'trick' is to put the price of fuel up, before the duty is increased by the government.

If everyone in my town was to boycott him, like I'm doing, then we may see him reduce it a little. The cheapest I've seen it at the moment is 113.9 in an ASDA garage. This would mean a 20 mile round trip for me, but I intend to go there when my fuel tank is very low, and fill my vehicle up, plus two 5 gallon fuel containers.

[Kron]

I drive a fair bit with work (well did until I knackered my hand) and the mileage rate we get is always just below the actual cost of travel. Not being able to drive for the last few weeks has meant I actually get to the end of the month with cash left in the bank. Result.

[poorwullie]

An Easy way to remember how badly you are getting screwed over is to work out the market price of oil.

 

a barrel of oil contains 159 litres of oil, and once that has been distilled into around 75 litres of petrol (the rest becomming other hydrocarbons such as keroscene, etc)

 

Remeber when we where paying £1.10 for 1 litre of petrol, but the market price was $30 (about £21 at that time) for one barrel of oil? (so 75 for about £21 - 35p, a litre, giving it a 200% mark-up).

 

 

The problem is the high fuel-prices are been kept high buy a handful of greedy speculation buyers - who's identities are proberbly a mystery otherwise they'd get lynched.

[/quote

 

Crivens that much. Think you find that 70% + of petrol price is taxation.

[poorwullie]

fuel prices are not set by goverment. They are directly linked to the price of crude oil, this is as we all know is an internationally traded commodity and as such the currency used is the US dollar.

therefore high crude oil price and weak sterling to dollar ratio equals high fuel prices. yes the goverment does take a large slice of tax from it but if it wasnt fuel they were taxing it would be something else and it doesnt matter which party is in goverment they need to raise revenue to run this wonderful country of ours.

 

Aye but every penny increase on pre-tax oil price means three pence to the chancellor.

[Snap Cap]

Being a self employed courier running a Luton my fuel bills are obscene. I try to avoid motorway services as they are up to £1.25 at the moment. I may stick a tenner in just to get me home.

 

On one of the industrial estates near me there is an outfit doing diesel for 90p but obviously you don't get a receipt so not much good if your vat registered.

 

Dark times are ahead.

[Vipa]

An Easy way to remember how badly you are getting screwed over is to work out the market price of oil.

 

a barrel of oil contains 159 litres of oil, and once that has been distilled into around 75 litres of petrol (the rest becomming other hydrocarbons such as keroscene, etc)

 

Remeber when we where paying £1.10 for 1 litre of petrol, but the market price was $30 (about £21 at that time) for one barrel of oil? (so 75 for about £21 - 35p, a litre, giving it a 200% mark-up).

 

 

The problem is the high fuel-prices are been kept high buy a handful of greedy speculation buyers - who's identities are proberbly a mystery otherwise they'd get lynched.

 

You appear to have completely missed the refining cost out of that equasion and are assuming that once out of the ground that's it for financial outlay. Refining is the most expensive part of the whole process (Extraction actually only costs something like $1 per barrell, we're talking the easy stuff to get at here. It is the exploration that bumps the price right up at the back end.) Last figures I saw was that on average the oil companies make 1-2p per litre net profit.

[poorwullie]

coz thats all i put in! :o :o

 

You begining to spend less time standing at petrol stations? :o

[2bangs]

Ease the cost a bit with veg oil, now that it's getting a bit warmer I go 50/50 with diesel and veg oil, Makro were doing 20 litres for 14 quid.

[shot shot]

You appear to have completely missed the refining cost out of that equasion and are assuming that once out of the ground that's it for financial outlay. Refining is the most expensive part of the whole process (Extraction actually only costs something like $1 per barrell, we're talking the easy stuff to get at here. It is the exploration that bumps the price right up at the back end.) Last figures I saw was that on average the oil companies make 1-2p per litre net profit.

that's pretty surprising, because the government is making £0.5619/l !! (or will be, as of april 1st, it's a ****** joke!! :o )

 

imho, don't blame the oil companies, they're not that greedy (relatively of course) but blame the government, how many billions are given in pursuit of "green" energy solutions every year??

[shot shot]

Ease the cost a bit with veg oil, now that it's getting a bit warmer I go 50/50 with diesel and veg oil, Makro were doing 20 litres for 14 quid.

still not exactly cheap!

 

£14/20l = 70ppl!

 

which is about what we were paying for diesel 15 years ago! :o

[V8landy]

We should all drive electric cars because they produce no exhaust emissions and electricty is green and clean :o

 

 

 

:o :o

Edited March 20, 2010 by V8landy

[2bangs]

still not exactly cheap!

 

£14/20l = 70ppl!

 

which is about what we were paying for diesel 15 years ago! :o

 

 

We aint living 15 years ago though are we ? and it's a lot cheaper than diesel

[Hunter_zero]

'green' activity.

 

 

Don't you just hate the way the government makes it sound as if they are 'doing us a favour' whilst ripping us off.

 

John

[Doc Holliday]

I'd like to thank the UKIP website for its generous loan of the following material. Although the piece was written in Nov 2007, it still outlines what the government are ramming us for. Now, I'm not preaching politics here but if you don't want to take it anymore then don't vote for liblabcon.

 

Quote "With soaring oil prices and rocketing fuel costs hitting small business and poorer people the most, the UK Independence Party is calling for an immediate cut in fuel duty.

 

As the cost of crude oil heads towards $100 a barrel and fuel prices in Britain shoot past the £1 a litre mark, more and more disposable income is being spent on fuel.

 

Yet only a few weeks ago, the government raised the duty again, bringing in billions of pounds in extra taxes.

 

UKIP MEP John Whittaker is demanding that the Chancellor cut fuel tax urgently before Britain reaches a crisis point.

 

From every £1 you spend on fuel, more than 65 pence now goes to the government in fuel duty and VAT.

 

"Thanks to the unforeseen rise in oil prices, the Treasury is making over £45 million a day in fuel tax during a time when most people are paying about half their income to the government," says Dr Whittaker.

 

"Why, every time the price of oil goes up, should the motorist be lumbered with a bigger bill and the government get richer?

 

"Instead of the tax being a percentage, it should be held at a fixed amount so that market forces don't mean bigger tax bills.

 

"With young people unable to get on the housing ladder, millions of people in debt and pensions worth only tiny proportions of what they were, the Chancellor should be slashing fuel tax, not snatching every penny he can.”

 

Dr Whittaker, MEP for the North West region and a lecturer in economics at Lancaster University, says it is time this government thought about the people, rather than filling their own coffers – “with their windfall earnings from rising prices, they could afford to." End quote.

 

Think about it and use your vote wisely. :o

[reaper6]

We should all drive electric cars because they produce no exhaust emissions and electricty is green and clean :o

 

 

 

:o :o

AND THE CARS ARE C###

[Delbert]

I did a bit of checking this week - as I get emails from petrol prices .com since this time last year petrol has increased in price by 28% aside from bankers and execs from oil companies plus a few dozen footballers I think you will be hard pressed to find anybody whose wages are keeping up.

I will make a prediction based on several years as a filling station manager- watch the prices jump again just before the bank holiday weekend.

[Mattw]

The only way to slowthis down is to boycot one fuel station company every week, en masse.

 

This will mean for one week the retailer has all the staff, food, etc on site but cant sell the products.

 

The boycot would rotate to hit a different one each week.

 

Begin with ESSO the Tescos....

 

What bothers me most is if you look at the price of fuel now and the relative cost of oil, when it goes back to 150$ a barrel fuel will be about 2.30 per litre!

[fatcontroller]

The government, any government plays a fine line game on fuel duty. How much can the government put up fuel duty before people start using their vehicles less?.

I would suggest that the price of fuel will need to go up quite a lot before the majority of people stop using their vehicles, or significantly reduce the amount they use a vehicle.

I will take a wild guess at this one lets say £1.50 a litre before the masses start a drastic reduction in vehicle use.

The next question is how many people will be made redundant because their business goes bust as a direct result of rising fuel costs?.

 

FC

[vole]

They are seriously making it difficult to get to and from work which is the sole reason many of us run the goddamn vehicles in the first place. I expect that management can run the country perfectly well once the rest of us drones have given up and got jobs in the local Tesco Express or maybe just producing babies as an income. I am not on a bad salary but with everything else ,the fuel cost is really not helping.

I would back any protest.

Edited March 20, 2010 by vole

[Popgun]

The only way to slowthis down is to boycot one fuel station company every week, en masse.

 

This will mean for one week the retailer has all the staff, food, etc on site but cant sell the products.

 

The boycot would rotate to hit a different one each week.

 

Begin with ESSO the Tescos....

 

What bothers me most is if you look at the price of fuel now and the relative cost of oil, when it goes back to 150$ a barrel fuel will be about 2.30 per litre!

The problem is the goverment is taking to much tax they stop people from smoking and lose tax from fags so they have to get it from the oil if they make people cut down on there driving they will have to get tax from somewhere maybe Beer or VAT ?

[jim410]

They are seriously making it difficult to get to and from work which is the sole reason many of us run the goddamn vehicles in the first place. I expect that management can run the country perfectly well once the rest of us drones have given up and got jobs in the local Tesco Express or maybe just producing babies as an income. I am not on a bad salary but with everything else ,the fuel cost is really not helping.

I would back any protest.

 

 

i agree totally! me and the wife was talking about this the other day. i am in a well payed job but my work place is 45 miles from home so i am doing 90 miles per day, basically £10 per day fuel costs. £60 a week if i do overtime on a saturday!!! its just to much.

one idea i had was if the government could introduce some sort of discount fuel card for people that work 30+ miles from home, obviously you would have to prove where you work etc... so the card holders get fuel at £1 a litre!!!!

hmmm, we live in hope!