Fuel prices

[joinerman]

How come the price of crude oil is at it's lowest price for about two years but it's higher than it's ever been at the pumps ?

 

[Paul_Humphreys]

Cost of

Production
or
Transportation
or
Duty
or
VAT.

Take you pick!!

Paul

 

[Steve Wright]

How come the price of crude oil is at it's lowest price for about two years but it's higher than it's ever been at the pumps ?

its called fuel duty and VAT and its the fault of the government !

 

[joinerman]

I thought we were just being shafted

 

[karl webster]

I thought i heard something on the radio that they had a burst in saudi so its pushed price to all time high. I may be wrong.

Karl

 

[Gary Stockton]

And the £:$ rate is poor - crude and transport all priced in $ so instant knock-on :-(

 

[Andrew Prince]

How come the price of crude oil is at it's lowest price for about two years

Lowest for 2 years? It was close to $100/bbl late last year - now nearly $125/bbl. I'm guessing fuel prices haven't gone up 25% in that time, so we might actually be quite lucky
There are different grades of crude quoted and US prices have come down a tiny bit but Brent crude (North Sea oil in other words) is more or less at its peak since the 2008 spike And as Gary said, the £:$ exchange rate isn't as helpful as it was in 2008, which all adds up to oil being close to its peak in £ terms.

 

[adrianr]

The largest proportion of the price we pay at the pump by a big margin is the amount of money the so called government happily gouge out of the citizens whilst pointing the finger elsewhere.

Pity the correct government for the people somewhere was subject to a bait and switch and became government of the people.

...steps off soap box, exit left....

 

[Graham]

And the £:$ rate is poor - crude and transport all priced in $ so instant knock-on :-(

.
perhaps with the US economy being in such poor shape, the world should decide to trade oil in an alternative, stronger economy, not teh USD, which America can simply print trillions more as and when they need.
No wonder we are all being dragged down, the Oil / USD tie needs to be severed.

Gra.

 

[Rob]

The recent price rise can't be due to the government's tax on fuel as the last time fuel duty has gone up was in 23/03/11. Not saying that they contribute to the high fuel prices but the recent price rises are clearly due to other economic and oil trade issues.

http://www.google.co.uk/url?sa=t&rct=j& ... W568Fm8vGA

 

[adrianr]

The recent price rise can't be due to the government's tax on fuel as the last time fuel duty has gone up was in 23/03/11. Not saying that they contribute to the high fuel prices but the recent price rises are clearly due to other economic and oil trade issues.

- Agree with you as to some of the effect.
Still they are onto a massive winner - every cent increase in price of crude that is reflected at the pumps is a massive increase in revenue...... and who's interests are best served by creating political instability with the countries where oil is found.

Anyway - yep, fuel that is delivered on the high street forecourt is way too pricey.

 

[Rob]

The recent price rise can't be due to the government's tax on fuel as the last time fuel duty has gone up was in 23/03/11. Not saying that they don't contribute to the high fuel prices but the recent price rises are clearly due to other economic and oil trade issues.

http://www.google.co.uk/url?sa=t&rct=j& ... W568Fm8vGA

typo

 

[Bat21]

A gallon of Jack Daniels is £145.60...... I think the price of diesel/petrol is a bargain in comparison

 

[Gary Stockton]

These figures are about a year old but make interesting reading :

Petrol Prices

 

[Ecoman]

What annoys me is the duty as added and then we pay VAT on top of the duty! Talk about getting taxed twice

 

[Rob]

The problem with fuel prices is that it effects the price of well everything as we are so dependant on it. Even if you do not own a car or motorbike you will still feel the effects of expensive fuel. It also makes the government more money through VAT as the price of everything goes up with the cost of fuel so you get taxed more than twice... Also it used to be a lot cheaper not that long ago so we feel like we are being ripped off...

 

[Gary Stockton]

And remember fuel does not, I think, form a component in the 'basket of goods' the stats office use to determine inflation. So if you add it back in, then real inflation is closer to 8% pa which is pretty poor. A grudge purchase indeed :-(

 

[Rob]

8%

Really?

 

[Gary Stockton]

Latest update to this saga ...

Current breakdown:

Article here:

BBC Business

And I see crude has gone up 25% since September. National Statistics bureau are smoking some real good wacky-backy if they reckon our inflation figure has FALLEN recently

 

[Chas]

Possibly Photoshopped, but amusing all the same