AJI Posted January 9, 2015 Share Posted January 9, 2015 It is good to see about 20% drop in the price of pump fuel , but this smaller drop in pump price compared to the amount oil has fallen is a reflection on just how much tax and duty we have to pay for fuel. If all we paid at the pump was just the price of the oil within the petrol/diesel then we'd be paying around 58p per litre right now. I don't think any election can be won by increasing the duty on fuel any more, so I think its nice timing for a change of office. Just have to hope that non of the left parties gain power because it will be a sure thing that the fuel escalator will be back in force if they win. Quote Link to comment Share on other sites More sharing options...
Dnk Posted January 9, 2015 Share Posted January 9, 2015 I won't be happy till our petrol prices are at least a little competitive with other countries who are laughing at how much we pay. That said, it's probably quicker and easier for me to move to said countries before petrol prices fall that low (aka never) We're not quite the worst (9th most expensive) Venezuela is the cheapest at 0.02 dollars per litre but doubt i'd want to live there http://www.globalpetrolprices.com £1.06 per litre is the cheapest by me now Quote Link to comment Share on other sites More sharing options...
Dnk Posted January 9, 2015 Share Posted January 9, 2015 Just filled the Supra up with V-power, 1.15 per litre! Last time I filled it up it was 1.30 something Not looking forward to the budget though, tax revenues were already down before the oil crash, so the government will likely increase fuel duty now, and by quite a bit. I was told on another forum that it wont affect fuel duty as its a fixed amount in value per litre and not a percentage of the price of the litre Quote Link to comment Share on other sites More sharing options...
st3ven1 Posted January 9, 2015 Share Posted January 9, 2015 We pay 58p (this is fixed) in fuel duty per liter, then we pay 20% VAT on that 58p, so before even starting on the cost of finding and retrieving the oil, then refining and transporting it we are already at 69.6p/L. With the price of petrol being 105.7p/L here, that means the cut for everything involved in getting the oil out the ground to the petrol in your car is 35p/L. Almost exactly half what the government are taking for every liter! Puts it into perspective. Quote Link to comment Share on other sites More sharing options...
Dnk Posted January 9, 2015 Share Posted January 9, 2015 So falling prices wont affect how much the government get then, just less money for the oil comps Quote Link to comment Share on other sites More sharing options...
st3ven1 Posted January 9, 2015 Share Posted January 9, 2015 The government will only lose out on the lesser 20% VAT figure currently. At £1.35 they were taking 22.5p in VAT per L, at 105.7p they are taking 17.6p in VAT per L. So they are approximately 5p/L down at the moment. Compared to the 30p/L loss that everything else involved has lost. Quote Link to comment Share on other sites More sharing options...
Abz Posted January 10, 2015 Share Posted January 10, 2015 We pay 58p (this is fixed) in fuel duty per liter, then we pay 20% VAT on that 58p, so before even starting on the cost of finding and retrieving the oil, then refining and transporting it we are already at 69.6p/L. With the price of petrol being 105.7p/L here, that means the cut for everything involved in getting the oil out the ground to the petrol in your car is 35p/L. Almost exactly half what the government are taking for every liter! Puts it into perspective. That is crazy when you break it down like that!! With the millions of motorists filling up every day imagine how much tax revenue that is per day! So imagine on average a motorist fills up 50 litres of fuel which is £35 alone in fuel duty. Let's say it is at a busy service station and you get 5,000 people who fill up that day on average 50 litres. On that one day alone you will have raised £175,000 fuel duty revenue from one single place! That is nearly 64 million pounds of tax revenue from one single petrol station per annum!!! Just to make you guys feel better, at least we aren't paying 8p a litre for fuel like they are in Riyadh! Quote Link to comment Share on other sites More sharing options...
Havard Posted January 10, 2015 Share Posted January 10, 2015 I bet your avatars over the moon with the prices coming down the amount he must get through in a day He's using paraffin so he's not directly affected by the petrol prices. Quote Link to comment Share on other sites More sharing options...
formatzero Posted January 10, 2015 Share Posted January 10, 2015 That is crazy when you break it down like that!! With the millions of motorists filling up every day imagine how much tax revenue that is per day! So imagine on average a motorist fills up 50 litres of fuel which is £35 alone in fuel duty. Let's say it is at a busy service station and you get 5,000 people who fill up that day on average 50 litres. On that one day alone you will have raised £175,000 fuel duty revenue from one single place! That is nearly 64 million pounds of tax revenue from one single petrol station per annum!!! Just to make you guys feel better, at least we aren't paying 8p a litre for fuel like they are in Riyadh! And for this reason the government cant reduce tax on fuel,if they do they have to get the cash elsewhere. Quote Link to comment Share on other sites More sharing options...
Abz Posted January 10, 2015 Share Posted January 10, 2015 And for this reason the government cant reduce tax on fuel,if they do they have to get the cash elsewhere. How about reducing the ridiculous spend so we don't have to rob Pete to pay Paul. Not like we are short of collecting taxes. Quote Link to comment Share on other sites More sharing options...
j_jza80 Posted January 10, 2015 Author Share Posted January 10, 2015 Just to make you guys feel better, at least we aren't paying 8p a litre for fuel like they are in Riyadh! And no women drivers to worry about Quote Link to comment Share on other sites More sharing options...
Abz Posted January 10, 2015 Share Posted January 10, 2015 And no women drivers to worry about True!! Quote Link to comment Share on other sites More sharing options...
Hitbox Junkie Posted January 11, 2015 Share Posted January 11, 2015 And no women drivers to worry about Got to when things like that are said Quote Link to comment Share on other sites More sharing options...
j_jza80 Posted January 11, 2015 Author Share Posted January 11, 2015 Got to when things like that are said Contrary to popular belief, there are no laws saying women can't drive in Saudi. They simply refuse to issue them driving licences. Quote Link to comment Share on other sites More sharing options...
Dnk Posted January 11, 2015 Share Posted January 11, 2015 99.7 for unleaded at a garage just up the rd from me Quote Link to comment Share on other sites More sharing options...
Graham1984 Posted January 11, 2015 Share Posted January 11, 2015 99.7 for unleaded at a garage just up the rd from me Whoever would of thought that would be a welcome sight years ago. Quote Link to comment Share on other sites More sharing options...
Stonkin Posted January 12, 2015 Share Posted January 12, 2015 99.7 for unleaded at a garage just up the rd from me Blimey, I was surprised to see 1.08 by me this morning Quote Link to comment Share on other sites More sharing options...
st3ven1 Posted January 12, 2015 Share Posted January 12, 2015 97.9p being reported at Morrisons in Whiteheaven. Asda and Morrisons have also announced a 2p drop scheduled for this week, down to 103.7p. Quote Link to comment Share on other sites More sharing options...
The Raven Posted August 5, 2015 Share Posted August 5, 2015 Thought I'd bump this as I'm about to fill my heating oil again. Guess what the oil is now the cheapest I've ever seen I can't even go back far enough to see how when it was this low. I'd guess maybe a 10 year low? 32p currently. 320 and that my heating sorted for a year. Madness To put this into petrol prices 85.6p for a litre of unleaded in 2005 Quote Link to comment Share on other sites More sharing options...
T2 MSW Posted August 5, 2015 Share Posted August 5, 2015 Thought I'd bump this as I'm about to fill my heating oil again. Guess what the oil is now the cheapest I've ever seen I can't even go back far enough to see how when it was this low. I'd guess maybe a 10 year low? 32p currently. 320 and that my heating sorted for a year. Madness To put this into petrol prices 85.6p for a litre of unleaded in 2005 Have you bought an extra tank yet?? Quote Link to comment Share on other sites More sharing options...
Westcoaster Posted August 5, 2015 Share Posted August 5, 2015 If the oil price is still so low, why am I paying £1.27 per litre for super unleaded at my local Esso garage? Quote Link to comment Share on other sites More sharing options...
ianhid Posted August 5, 2015 Share Posted August 5, 2015 Because you're still paying £0.57 per litre in fixed fuel duty (on top of the cost of the fuel) and then paying VAT on the whole lot. The actual oil price is only 1/3 of what you're paying for. Quote Link to comment Share on other sites More sharing options...
Dnk Posted August 5, 2015 Share Posted August 5, 2015 Tesco's fuel discount ends this month Quote Link to comment Share on other sites More sharing options...
imi Posted August 5, 2015 Share Posted August 5, 2015 People are used to paying 130 p/ltr so why bother reducing the price, not as if we are taking to the streets to protest. Quote Link to comment Share on other sites More sharing options...
The Raven Posted August 5, 2015 Share Posted August 5, 2015 Seems adding a second tank is not as simple as i thought so i couldnt do it. Needless to say im filling this one up to the brim Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.