Petrol to go up 4ppl?

[KillerHERTZ]

BBC News - Petrol price 'may go up 4p' as retailers urge review





Also, this time last year the difference between Petrol & Diesel was only around 5p, now its 9p a litre

 

[steve333]

I think the price gap between petrol/diesel is getting bigger because there are a lot more diesels on the road than there use to be + the fact the newer ones are far more economical.

 

[seven]

^ exactly.
The oil extractors/refiners/retailers aren't stupid. They will maximise their profit in any way they can.

 

[SL300-24]

The sooner the government get into the petrol companies and stop the profiteering the better. When oil prices drop it is rarely passed on, but rises straight away.

 

[steve333]

The sooner the government get into the petrol companies and stop the profiteering the better. When oil prices drop it is rarely passed on, but rises straight away.

^ Highly unlikely as they are the one's taking around 80% tax on every ltr sold & we as a nation do nothing but moan about it!

 

[Carrsey]

^ Highly unlikely as they are the one's taking around 80% tax on every ltr sold & we as a nation do nothing but moan about it!

I have no real problem with oil companies making a profit, they are providing a service, its the tax that gets me, thats where the rip off is..

 

[sinewave]

Diesel is around 4p/litre cheaper than Petrol in Ireland!


On the downside their Car Tax is horrendous on some models/engine sizes!

 

[grober]

Speculators

The price hike has been linked to "speculation" on the wholesale refined fuel markets----- well there's a surprise.

 

[Deleted member 55947]

Put a rumour out that it's going up 4p then actually put it up 3p and the heat ain't so bad

 

[wemorgan]

With almost 30% of voters saying they won't change their car for a more efficient model , this price rise is easy money for all involved.

http://www.mbclub.co.uk/forums/mbcl...uld-you-consider-more-fuel-efficient-car.html

 

[TDE1]

BBC News - Petrol price 'may go up 4p' as retailers urge review

Also, this time last year the difference between Petrol & Diesel was only around 5p, now its 9p a litre

At last my E55 is starting to make sense

 

[steve333]

The price hike has been linked to "speculation" on the wholesale refined fuel markets----- well there's a surprise.

On the news it was reported the forecourts are blaming the wholesalers for the projected price hike-most of the uk petrol suppliers if not all are wholesalers!

 

[mercgames]

Morrisons last week 96.8p L Diesel ....Gibraltar

 

[grober]

There's a world shortage of refined motor fuel due to lack of global refining capacity. There's a trend for the big oil companies to divest themselves of ageing refineries with increasingly stringent safety and environment regulation = not profitable enough. When there's a shortage then prices inevitably rise until demand falls off which should then lead a price fall= market forces. Unfortunately at this point we have to introduce the concept of " futures" where all this trading is carried on months before the actual events affecting prices. This is just a form of gambling on what the price refined fuel is going to be in the future. However in this equation the motorist is in the position of heads the traders win tails the motorist loses. The figure you want to watch is RBOB Gasoline NY Harbor here WTRG Economics -OPEC, crude oil, natural gas, analysis, forecasts and data or NYH RBOB Gasoline (Globex) Daily Commodity Futures Price Chart: March 2013 : NYMEX

 

[BIRMA]

I have no real problem with oil companies making a profit, they are providing a service, its the tax that gets me, thats where the rip off is..

Couldn't agree more everyone involved in the chain actually does something for their profit be it little or big, the real highway robbery is the government who don't do a thing for the enormous ammount of tax/duty on petrol. It would appear all parties regardless of who they are just take it for granted that this little cash cow can be milked and never go dry.

 

[crockers]

I have no real problem with oil companies making a profit, they are providing a service, its the tax that gets me, thats where the rip off is..

A very interesting statement. So what taxes would you envisage raising to replace this duty? Income tax? VAT? Or stop all benefits? Cut back on the NHS?

I can't see how we can ?

I do think it is profiteering to charge more for diesel than petrol when the majority of countries charge less.

 

[John]

With almost 30% of voters saying they won't change their car for a more efficient model , this price rise is easy money for all involved.

http://www.mbclub.co.uk/forums/mbcl...uld-you-consider-more-fuel-efficient-car.html

Given the forum on which that thread / question was hosted, the results are not a huge surprise though are they...



I might be paying more than I need to for fuel, but the government gets no VAT from smoking, Apple hardware, Golf club fees, Skiing, etc. etc. from me instead.

 

[Carrsey]

A very interesting statement. So what taxes would you envisage raising to replace this duty? Income tax? VAT? Or stop all benefits? Cut back on the NHS?

I can't see how we can ?

I do think it is profiteering to charge more for diesel than petrol when the majority of countries charge less.

Dont get me wrong, i know if they took it off fuel it would have to be take from else where, so cant be done. My point is, everyone blames the fuel companies and i just feel it is not them that are the real problem..

 

[KillerHERTZ]

Dont get me wrong, i know if they took it off fuel it would have to be take from else where, so cant be done. My point is, everyone blames the fuel companies and i just feel it is not them that are the real problem..

THIS!

80% Tax, plus VAT on top of that. its the Governments taxing which is to blame for the appalling prices

 

[markjay]

Dont get me wrong, i know if they took it off fuel it would have to be take from else where, so cant be done. My point is, everyone blames the fuel companies and i just feel it is not them that are the real problem..

It's not profiteering, it's called the law of supply and demand.

When a product or service is much sought-after and in short supply, prices go up.

However, competition should help keep fuel price increase under check and not allow prices to spiral out of control simply due to high demand.

Normally is would be the government's job to ensure that prices of essential products and services do not make them unaffordable (through regulation and other means).

The difficulty is, that in this case the government can't really get involved and tell the fuel suppliers and retailers that the price it too high and the public can't pay it, given that it is the treasury that takes the vast majority of the what drivers pay at the pump....

So the solution they came up with is to the avoid classifying car fuel as essential product, and keep taxing it - as other European countries do.

And if it is not an essential product - then why should the government get involved in fixing the price? Especially as it prefers to let the oil companies increase their profits so that they can impose further 'special' taxes on their profits, as recently happened.