Price increase in Fuel in New Year

[x332race]

Shocked to see fuel has gone up by 2-3p since I last filled up in December....on reflection, I suppose this is due to the increase in VAT back to 17.5%??

 

[Aletank]

Why arn't the Farmers/Hauliers kicking up a fuss like they was a few years ago ?
Has the government given them some kind of grant/subsidy thats keeping them happy ?

 

[Gridlock]

Best bit is that, on petrol, we're taxed on the tax; you pay VAT on the fuel price INCLUDING the duty, rather than just on the "raw" price of the petrol.

Like I've already seen here in a sig - "don't steal, the government doesn't like competition".

 

[Bobby Dazzler]

I tried to fill up on New Years Eve but the queues were huge and I decided I'd go back after the VAT increase. Incredible how many people waited. To be fair it's the sort of thing I would normally have done.

I seem to recall a thread earlier in the year upon which someone with contacts in the fuel industry suggested that fuel prices would at a particular level before the end of the year - or something along those lines.

Done a search but can't find it. It would be interesting to see how close expectations were with the reality.

 

[johnsco]

When the VAT was reduced by 2.5 per cent, I understand that the fuel duty was increased so that there was no net reduction in price.
I don't know whether the fuel duty has now been reduced.
...
I can guess !!

 

[Gridlock]

I tried to fill up on New Years Eve but the queues were huge and I decided I'd go back after the VAT increase. Incredible how many people waited. To be fair it's the sort of thing I would normally have done.

To save £3? Is it really worth queueing?

 

[Bobby Dazzler]

To save £3? Is it really worth queueing?

If I don't have to be elsewhere then I'd wait a short while to save a couple of pounds. Our ML will normally take 70 litres when refilling, so at 3p price difference it would save me about £2, and I would wait a few minutes. It would also offset half the cost premium I pay for V-Power.

On that occasion I didn't have an empty tank and I had somewhere else I needed to be, and so I didn't wait on that occasion.

Slightly different but I've noticed that there can be several pence (per litre) variations between fuel stations even though they may be geographically very close, and so I will deliberately use the cheapest (which happens to be Shell).

 

[Gridlock]

To me it's the same sort of semi-mass hysteria (and lack of critical thinking) that caused the Petrol Shortage, undoubtedly this demand is planned for but even when I was on £6250pa and my car cost £25 to fill up* I don't think I'd have used 50p worth of fuel to queue up and save £1.

I'm not very good with money though

* Showing my age again - in my defence it was a tiny fuel tank!

 

[KillerHERTZ]

Why isnt this in the news? why isnt there any backlash? that stealth move last time the VAT went down was disgusting.

 

[Aoraki]

Nothing has happened that we didn't know about 12 months ago though.

 

[johny5_uk]

some shops have signs in their windows saying that the VAT hike hasnt affected their prices.
So funny, as one of the shops is "poundland" yes thats right, the shop where everything is a pound, was a pound before 15% vat, at 15% vat and now back at 17.5%.
My question to them would be why wasn't their prices dropped when VAT was at 15%!?

 

[MrT]

Why isnt this in the news? why isnt there any backlash? that stealth move last time the VAT went down was disgusting.

It was in the Daily Fail last week IIRC

 

[kelvyn]

I saw an article last week that seems to say H.M's government are going to hike fuel prices by 15p a litre this year
Price of petrol and diesel looks set to rise The Economic Voice

 

[stevesey]

Nothing has happened that we didn't know about 12 months ago though.

Still I had from Christmas Eve to 31st to fill up (didn't use the car much) - but I still left it until early evening of the 31st (no queues though).

There as a great notice in the canteen at work today - explaining that VAT had just gone up and it might take them some time to adjust all the prices/labelling to match the tills (and the till would give the correct price!!) Like you say it's not as if it was a suprise announcement.