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Petrol prices.



Stat Brother

Well-known member
NSC Patreon
Jul 11, 2003
73,367
West west west Sussex
Has this rampant profiteering slid under NSC's radar?

http://www.telegraph.co.uk/finance/...ol-for-a-quid-if-oil-price-slump-deepens.html

Oil prices have fallen around 28% since June, but the drop has been slow to filter through to cheaper prices at the pumps...However, with some experts now forecasting that the current slide in crude oil will only end once prices have dropped below $70 (£44) per barrel...“When oil was last at $60 a barrel in spring 2009, the price of petrol stood at just under £1 a litre,” Prof Stephen Glaister, director of the RAC Foundation, told The Sunday Telegraph.

During this 28% drop in the price of crude oil, the price at the pump had fallen 6%.
 






Stat Brother

Well-known member
NSC Patreon
Jul 11, 2003
73,367
West west west Sussex
The vast majority of the price at the pump is tax and VAT.
But that doesn't explain the price remaining artificially high, does it.

Isn't the duty is set as a percentage of the pump price?
 


severnside gull

Well-known member
May 16, 2007
24,540
By the seaside in West Somerset
The vast majority of the price at the pump is tax and VAT.

Not entirely true although oil companies' propaganda in this respect has been impressively successful. There is still a significant profit for retailers and -to state the obvious- if they reduce the price at the pump they will pay less tax.
The simple fact is they have increased net profit margins significantly by not reducing prices.
 




Thunder Bolt

Ordinary Supporter


severnside gull

Well-known member
May 16, 2007
24,540
By the seaside in West Somerset


jakarta

Well-known member
May 25, 2007
15,616
Sullington
In other Breaking News Ursine creatures revealed as habitually defecating in Arborial areas and Head Man in Vatican outed as a Catholic........
 








Guy Fawkes

The voice of treason
Sep 29, 2007
8,187
The vast majority of the price at the pump is tax and VAT.

So why hasdn't the price come down then as the price of oil has dropped?

If the price of crude oil had gone up 28% instead of down by 28%, do you think that the price of petrol would go up by only 6% at the pumps?

We are told that it's a price war at the pumps by supermarkets that has led to the recent drop in pump prices and not that the cost of oil had dropped, when it's likely they are still making as much (if not more) then they were in June when the oil prices were higher.
 




Stat Brother

Well-known member
NSC Patreon
Jul 11, 2003
73,367
West west west Sussex
If the price of crude oil had gone up 28% instead of down by 28%, do you think that the price of petrol would go up by only 6% at the pumps?
It's amazing how 'we' take that.

I bet the hauliers blockage that bought the country to it's knees a few years ago was over a considerably smaller disparity.
 


Garage_Doors

Originally the Swankers
Jun 28, 2008
11,789
Brighton
Has this rampant profiteering slid under NSC's radar?

http://www.telegraph.co.uk/finance/...ol-for-a-quid-if-oil-price-slump-deepens.html

Oil prices have fallen around 28% since June, but the drop has been slow to filter through to cheaper prices at the pumps...However, with some experts now forecasting that the current slide in crude oil will only end once prices have dropped below $70 (£44) per barrel...“When oil was last at $60 a barrel in spring 2009, the price of petrol stood at just under £1 a litre,” Prof Stephen Glaister, director of the RAC Foundation, told The Sunday Telegraph.

During this 28% drop in the price of crude oil, the price at the pump had fallen 6%.

Perhaps this profiteering will encourage more drivers to abandon the're cars and get on bikes.
 
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Guy Fawkes

The voice of treason
Sep 29, 2007
8,187
I feel most of the rampant profiteering is done by the government. Ridiculous to charge so much in duty for something that is a necessity to so many people.

Thats right, lets scrap the NHS, Police, Fire service and everything else they provide us with so we can cut the cost of petrol. Where do you think the money to start to pay that comes from (Income tax, rates, Vat, duty, extra Government borrowing, etc)
 









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