could someone please explain

[DSPUK]

If I remember correct oil prices at one point were around $148 barrel and pound was at all time low of $1.48 and petrol was £1.20 per ltr - My home page is saying petrol has reached all time high because of rise in oil price and weak pound against dollar

 

Well according to my local paper tonight oil is $88 barrel and ££ is £1.57 so how come petrol is so high - I get the feeling every motorist is bending over facing east and petrol companies are sticking their nozzels in our dark places.

 

Please reply in simple terms so I can understand it.

 

Dave

[Fisherman Mike]

If I remember correct oil prices at one point were around $148 barrel and pound was at all time low of $1.48 and petrol was £1.20 per ltr - My home page is saying petrol has reached all time high because of rise in oil price and weak pound against dollar

 

Well according to my local paper tonight oil is $88 barrel and ££ is £1.57 so how come petrol is so high - I get the feeling every motorist is bending over facing east and petrol companies are sticking their nozzels in our dark places.

 

Please reply in simple terms so I can understand it.

 

Dave

 

Its called government duty mate....Your not the first person the public schoolboys have shafted..."Bring me some more toast Clegg and then bend over that chair"

[Ricko]

We are being scr*wed by the gov't (regardless of party) and the oil companies.

Check the price of 'racing-red' with a farmer on your permissions and compare with forecourt diesel prices, the difference accounts for taxes.

[Billy.]

This country needs to start fuel strikes again.

[DSPUK]

This country will never get an effective fuel strike -- too many worker earn too much money -the other half have company cars - us plebs are stuck at bottom paying through the nose or perhaps the other end.

 

An example of this attitude is displayed on Honestjohns motoring forum - they abohr the truckers who picketed fuel depots.

 

dave

[guest1957]

If I remember correct oil prices at one point were around $148 barrel and pound was at all time low of $1.48 and petrol was £1.20 per ltr - My home page is saying petrol has reached all time high because of rise in oil price and weak pound against dollar

 

Well according to my local paper tonight oil is $88 barrel and ££ is £1.57 so how come petrol is so high - I get the feeling every motorist is bending over facing east and petrol companies are sticking their nozzels in our dark places.

 

Please reply in simple terms so I can understand it.

 

Dave

 

When oil was $148/barrel in July 2008 there were $2.01/£1

 

It is also remembering that oil contains many fractions, not just petrol so high demand for petrol can make it pricier even with a lower oil price.

 

Also, as has been mentioned, tax.

[jonevo]

UK is now known as the TAX capital of the world what business or corporate company would ever want to invest in this sht hole

soon as I can I am out of here.

 

might try poland/ Lithuania see how they like it

[utectok]

My buddie who works in the industry said pump prices are profiteering as the companies fix the barrel price seven years in advance ie shell are negotiating a price for 2017 now and the pump price fluctuates to just make more money

[Fisherman Mike]

When my wife used to work for the American Airforce she was allowed to use the base garage and stores.

 

She used to buy Paul Mason champagne £2.50 a bottle (GB price was £9.75 at the time) Jack Daniels £3.75 (£14.00) and fill up her car for £ 18.50 ( £37.00)

 

And thats after they had flown the stuff in by Galaxy from America

 

Just goes to show how us Brits are being shafted by our own Govermnent.

[Whitebridges]

Prices are getting ******* silly. Worse to come when we go to 20% VAT on 4/1/2011.

[Guest]

Aye, I've really noticed it, esp since I have to drive 400 miles a week to get to the only job going for 22k a year. Average £40 a week in fuel alone. In the bad weather I switched from 1.6ltr 2wd petrol to 2.25ltr 4wd diesel and that got bumped to £75 just to get to work and back.

 

3 years ago I left London prices where 92p ltr of petrol and I was using very little, now I'm out in the sticks and my public transport alternative would mean me leaving the night before and sleeping in a train station 25 miles out of the way to make an 8.30am start.

[Willxx]

I have a company car and when i first got it I filled up for £50 (60 litres) now its £75 - a 50% increase in under 3 years - plus I get taxed to hell for the priviledge of having it in order to be able to do my job and pay a ****load more tax on my wages

 

Add that to the child benefit being withdrawn, Scotland and Wales maintaining free tuition for students and an extra £500 per year for energy costs announced tonight and its no wonder no one in England has any confidence in our multi millionaire leaders, having said that we really shouldn't be surprised - I mean Mr Cameron has committed to living on the minimum wage along with the rest of the govt hasn't he?

[Billy.]

My buddie who works in the industry said pump prices are profiteering as the companies fix the barrel price seven years in advance ie shell are negotiating a price for 2017 now and the pump price fluctuates to just make more money

 

You've just described futures trading. It happens on just about every commodity.

 

It's a way of securing a commodity in the future for a price you'd be willing to pay. I used to trade futures on cattle. - Not that I had any need to own the cattle, I'd just sell whatever I bought before the contract ended and I don't take delivery.

 

Fuel companies will take for example the June 2011 Brent crude at $92.05 (current price) and buy whatever they can at that price (as barrels at that price run out, the price goes up) so they'll decide how much they want at that price.

 

When June 2011 comes around the actual (spot) price of Brent might be $100 a barrel. They've just made (or saved, dependant on what they want to do with the barrel) $7.95 a barrel. Not bad if you're dealing in millions of barrels for that contract

Edited December 17, 2010 by Billy.

[wingnut]

Just heard on the radio that motorists with petrol cars are paying an extra £8,000,000 per day more for petrol than we were paying this time last year.

 

 

 

How on earth do they justify this!

[officerdibble777]

in the U.S. todays price is about 41p per litre,(a bit high just now)the reason being gas is god.Friends tell me if the government tried to increase the price beyond what is a reasonable fluctuation they would forc an election within weeks.When I'm there I can see the cost per gallonchange twice a day,whether that be up or down. Our problem is we just sit back and accept it,we are on here moaning (me too)but at the end of the day what have you done about it ? exactly,nothing.You have done what everyone does,youv'e just taken it.Sad fact of Brittish mentality.We need to grow some bigger balls and do something about it

[paddywack12]

in the U.S. todays price is about 41p per litre,(a bit high just now)the reason being gas is god.Friends tell me if the government tried to increase the price beyond what is a reasonable fluctuation they would forc an election within weeks.When I'm there I can see the cost per gallonchange twice a day,whether that be up or down. Our problem is we just sit back and accept it,we are on here moaning (me too)but at the end of the day what have you done about it ? exactly,nothing.You have done what everyone does,youv'e just taken it.Sad fact of Brittish mentality.We need to grow some bigger balls and do something about it

Agreed.

 

Say what you like about the French but they would not be having it. Look what happened when they put the retirment age up to 62 they brought the country to a standstill.Our government put ours up to 67 and nothing.

 

We need some fuel protests that we had a few years ago or be prepared for paying £1.50 for a litre of diesel.

[Wookie]

It'sold data I'm afraid, but when I was living in Woodbridge and commuting to the other side of Cambridge every day, I kept a log of how much fuel was, how many litres I had to buy and how far the car did between fills. At 140+ miles a day, I was filling up every four days, so it was useful data.

 

Anyway, this is for 2004/2005 I think (I forgot to record the dates of the fills!), and those with a sensitive disposition should look away now. It contains cheap petrol content.

 

 

Just to add a bit of context, I started work here in April 2004. Diesel was 78p a litre then.

[jonnyoftheboy]

I have to say guys..... I do love the responses that have "Mr Clegg this.... and Mr Cameron that..."

 

I am by no means a supporter of this govt, however, have we all forgotten who has been in power for the previous 13 years? are the memories that short?

 

the new pair haven't had a chance yet.... we are still suffering from the balls up of the previous govt..... it is not down to these two.

 

do we think about who has sat in charge over a period when the govt coffers had huge tax inflows and inherited a growing economy back in '97?

 

and through that time manage to waste billions as well as loosening all regulation on the banks?

 

and now we are paying the price?

 

petrol won't be going down, as the country is skint.... and it is a great money earner for the govt (whichever party.... as i don't remember it being "cheap" under the last lot)...

 

we all use it... pretty much have to use it.... so that great source of income for the govt (to sort the balls up of the previous govt) won't be getting cheaper!

 

the price of petrol is killing me personally, as I run a couple of juicy cars....(my monthly bill is more than a lot of my mate's mortgages) but it isn't Mr Cameron & Mr Clegg whom I'm blaming.... so let's wisen up shall we?

 

(rant over.........! Cue mouthfuls of party political abuse from our left wing contingent)

Edited December 17, 2010 by jonnyoftheboy

[wymberley]

Explanation is simple: We're Subjects; subject to anything they want to hit us with!

[kdubya]

Agreed.

 

Say what you like about the French but they would not be having it. Look what happened when they put the retirment age up to 62 they brought the country to a standstill.Our government put ours up to 67 and nothing.

 

We need some fuel protests that we had a few years ago or be prepared for paying £1.50 for a litre of diesel.

 

 

hmm petrol in france is dearer than here (albeit they include road tax with the cost of petrol) and they DO have good roads, petrol is still a bit cheaper than at its peak in 2008 er and who was in power that will be the last inept bunch of squanderers then?

 

KW

[vole]

VAT up next month too ! As said above I really hope there are more fuel strikes too . It would be lovely to give the people who run this place another kicking like with the last one .Whoever is to blame for the crock of poo we are in at present they had better be aware that there is a huge number of people who are already naffed right off and this is just the start of cutbacks . I am on what I think is a reasonable salary too but with it being a frozen salary and the price of everything skyrocketing , I anticipate real problems .We have already had to make major lifestyle changes in my household .

Excuse my naivety BUT.... when all these things cost alot more , I guess a certain section of the economy is doing rather nicely raking it in? I see myself as being very average in my views ,not too left or right wing but I have never had such anger toward government and authority as I do now .

[Willxx]

I have to say guys..... I do love the responses that have "Mr Clegg this.... and Mr Cameron that..."

 

I am by no means a supporter of this govt, however, have we all forgotten who has been in power for the previous 13 years? are the memories that short?

 

the new pair haven't had a chance yet.... we are still suffering from the balls up of the previous govt..... it is not down to these two.

 

do we think about who has sat in charge over a period when the govt coffers had huge tax inflows and inherited a growing economy back in '97?

 

and through that time manage to waste billions as well as loosening all regulation on the banks?

 

and now we are paying the price?

 

petrol won't be going down, as the country is skint.... and it is a great money earner for the govt (whichever party.... as i don't remember it being "cheap" under the last lot)...

 

we all use it... pretty much have to use it.... so that great source of income for the govt (to sort the balls up of the previous govt) won't be getting cheaper!

 

the price of petrol is killing me personally, as I run a couple of juicy cars....(my monthly bill is more than a lot of my mate's mortgages) but it isn't Mr Cameron & Mr Clegg whom I'm blaming.... so let's wisen up shall we?

 

(rant over.........! Cue mouthfuls of party political abuse from our left wing contingent)

don't disagree entirely, but when I HAVE to run a vehicle in order to do my job, I find it hard to understand why I get taxed so heavily on the vehicle as a benefit in kind, a joiner or electrician can claim for his tools but I can't - if i was an accountant doing 3 miles each way every day and being given a BMW to sit in an office I would say yes its a benefit in kind, but as a salesman who HAS to be on the road doing 20-25k miles per year that benefit is lessened every mile. If I chose to

"run a couple of juicy cars....(my monthly bill is more than a lot of my mate's mortgages)"

then I would be more inclined to say yes its a perk but as a sales tool i need a car like I need my phone, if i was supplied with a rols royce or aston martin then fair enough tax me on it but a reasonable vehicle used (generally)for business purposes is completely different.

[jonnyoftheboy]

don't disagree entirely, but when I HAVE to run a vehicle in order to do my job, I find it hard to understand why I get taxed so heavily on the vehicle as a benefit in kind, a joiner or electrician can claim for his tools but I can't - if i was an accountant doing 3 miles each way every day and being given a BMW to sit in an office I would say yes its a benefit in kind, but as a salesman who HAS to be on the road doing 20-25k miles per year that benefit is lessened every mile. If I chose to then I would be more inclined to say yes its a perk but as a sales tool i need a car like I need my phone, if i was supplied with a rols royce or aston martin then fair enough tax me on it but a reasonable vehicle used (generally)for business purposes is completely different.

 

willxx, you miss my point a little.

 

I drive approx. 25k miles per year and the other half about 15k miles per year.... mostly work/business related. I choose to have a less economic car..... petrol is costing me a fortune (could cost me a little less with a more economical car, but I choose not to).

 

I agree that the price of petrol is ridiculous.

 

I also agree that if a car is an "essential tool" to carry out your work.... you should not be taxed to the hilt as we are. I too have this issue.

 

my point is.... people need to stop saying "mr cameron this.... mr clegg that...." because all these issues pre date these guys! it is BLAIR & BROWN who have created most of our issues..... tax and spend..... huge stealth taxes....and wasted the money.

 

I often find amongst people I've been talking to recently (not just reading posts on a forum) that it is the numb nuts who voted in (& kept voting in) Blair & Brown who are doing all the whinging about the state of the country... but are blaming Cameron & Clegg.

 

as i say, i don't particularly support this govt... and neither am left or right of the political spectrum... i just wish people would open their eyes a little...

 

(rant no. 2 over.... last one.... as it keeps going a little off topic)

[officerdibble777]

as the country is skint....

if the country is so skint,why are we lending Ireland £3.5 billion ?

[mick miller]

if the country is so skint,why are we lending Ireland £3.5 billion ?

 

As I see it, the pals of the political class (rich investors) pumped loadsamoney into EIRE when business was booming, despite the warnings that the mini-boom was unsustainable, the current government even heralded the doomed Irish economic model as one to take inspiration from. Now that the **** has hit the fan the dumb public need to bail the failing economy out so the monied don't lose any of their investments.

 

We'll be even more screwed when that basket case of a currency, the Euro, finally collapses next year.

 

I may have got some facts wrong in my summation, but I don't care. As long as it sounds plausible it'll do me.