The cost of fuel petrol/diesel has been on my mind for some time with a barrel now costing about £50 maybe less. It is said that the price of a barrel would have to hit £25 for just 8p to come off the price of a litre.
I believe they will let it drop but not to get below £1 a litre, unless the supermarkets go on a price war, then it will be who can hold out the longest at the lowest price.
If you take £1.34 as the price of a litre, I'm using this because it is all worked out for you here, for both diesel and unleaded duty is 58p, but they make out the cost of the oil for diesel is more 51.1p compared to 45.2p for unleaded, it's the same oil yet they say it costs more to produce. VAT is 22.4p compared to 23.1p for diesel the production cost is the same at 1.5p but the retailers profit is 7.1p compared to 4.7p for diesel.
So unless there is some additive they put in diesel to increase the production cost, which would really come under refining then it costs no more to produce a barrel of diesel than it does a barrel of petrol, or should that be a tanker!
Then there is the price of electric and gas they say it is related to the price of oil well we should see a massive cut in the next few months as it's related to the price of oil but the corrupt cunts won't drop the price they will give it out as a bonus on profits.
Whatever you think about the price of fuel the UK consumer is getting ripped off,
The 1908 Finance Act introduced a petrol duty in the UK, with the rate being set at 3d (£0.013) per UK gallon, bringing the price of a typical UK gallon to 1s 1½d (£5.92 as of 2015[2]).[3]
It was then abolished by the Finance Act 1919 after several years of steady petrol price rises and replaced by vehicle taxation, and the tax disc based on horsepower,[3] after which the cost of petrol was about 4s[citation needed] (£8.02 as of 2015[2]) per UK gallon.
In 1928, following market reductions in the cost of a UK gallon of fuel to about 1s 2½d (£3.18 as of 2015[2]), the Government introduced a tax of 4d (£0.017) per UK gallon[3] bringing the cost of a UK gallon of petrol to 1s 6¾d[citation needed] (£4.1 as of 2015[2]).
In the 1993 Budget during the Major ministry Norman Lamont introduced a 10p rise and also a 'Fuel Price Escalator' whereby the cost of fuel would be increased annually by 3 per cent above inflation in future years; the Petroleum revenue tax was reduced in the same budget and later abolished. Kenneth Clarke, the new chancellor, increased the escalator to 5p in November of that year. These increases were introduced at a time of considerable change in government transport policy, and followed major UK road protests, including the M11 link road protest and the protest at Twyford Down.[4] The escalator was increased in 6p per year in 1997 by the Gordon Brown, chancellor for the new Blair ministry.
The escalator was effectively cancelled by the Brown ministry follow severe disruption caused by the fuel tax protests in 2000. Since that time more cautious increases have been applied.[3] A planned 3.02p/litre rise which was confirmed by the 2012 United Kingdom budget to come into effect on 1 August 2012[5] was later deferred until 1 January 2013 as short notice
FROM HERE
I believe they will let it drop but not to get below £1 a litre, unless the supermarkets go on a price war, then it will be who can hold out the longest at the lowest price.
If you take £1.34 as the price of a litre, I'm using this because it is all worked out for you here, for both diesel and unleaded duty is 58p, but they make out the cost of the oil for diesel is more 51.1p compared to 45.2p for unleaded, it's the same oil yet they say it costs more to produce. VAT is 22.4p compared to 23.1p for diesel the production cost is the same at 1.5p but the retailers profit is 7.1p compared to 4.7p for diesel.
So unless there is some additive they put in diesel to increase the production cost, which would really come under refining then it costs no more to produce a barrel of diesel than it does a barrel of petrol, or should that be a tanker!
Then there is the price of electric and gas they say it is related to the price of oil well we should see a massive cut in the next few months as it's related to the price of oil but the corrupt cunts won't drop the price they will give it out as a bonus on profits.
Whatever you think about the price of fuel the UK consumer is getting ripped off,
The 1908 Finance Act introduced a petrol duty in the UK, with the rate being set at 3d (£0.013) per UK gallon, bringing the price of a typical UK gallon to 1s 1½d (£5.92 as of 2015[2]).[3]
It was then abolished by the Finance Act 1919 after several years of steady petrol price rises and replaced by vehicle taxation, and the tax disc based on horsepower,[3] after which the cost of petrol was about 4s[citation needed] (£8.02 as of 2015[2]) per UK gallon.
In 1928, following market reductions in the cost of a UK gallon of fuel to about 1s 2½d (£3.18 as of 2015[2]), the Government introduced a tax of 4d (£0.017) per UK gallon[3] bringing the cost of a UK gallon of petrol to 1s 6¾d[citation needed] (£4.1 as of 2015[2]).
In the 1993 Budget during the Major ministry Norman Lamont introduced a 10p rise and also a 'Fuel Price Escalator' whereby the cost of fuel would be increased annually by 3 per cent above inflation in future years; the Petroleum revenue tax was reduced in the same budget and later abolished. Kenneth Clarke, the new chancellor, increased the escalator to 5p in November of that year. These increases were introduced at a time of considerable change in government transport policy, and followed major UK road protests, including the M11 link road protest and the protest at Twyford Down.[4] The escalator was increased in 6p per year in 1997 by the Gordon Brown, chancellor for the new Blair ministry.
The escalator was effectively cancelled by the Brown ministry follow severe disruption caused by the fuel tax protests in 2000. Since that time more cautious increases have been applied.[3] A planned 3.02p/litre rise which was confirmed by the 2012 United Kingdom budget to come into effect on 1 August 2012[5] was later deferred until 1 January 2013 as short notice
FROM HERE
No comments:
Post a Comment