fuel price fixing

Discussion in 'Current Affairs, News and Analysis' started by ballonhead, Apr 30, 2008.

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  1. Maybe if the governent were looking at a way of dealing with greedy garage owners who have slowly increased the fuel prices they should look to Iraq for guidance. Ex Prime Minister Tariq Aziz is in court for allegedly execuiting 40 market traders who increased the price of fruit during the 1990s sanctions- if found guilty he too could also be executed ! Sounds fair enough to me .
  2. True, but perhaps if the greedy cnuts in Whitehall didn't tax the tax on road fuels until they take a 65% slice of the price we pay then the price wouldn't be crippling the country either.
    Undoubted profiteering on the part of some garages but the answer to that is simple, don't go back to those that have sneaked the price up to capitalise on everybodies misfortune at the pumps.
  3. My bold

    The forecourt earns about 9p per litre.

    The price of crude has gone up from $70 to $120 a barrel within a year.

    Has the price at the pump doubled - no!

    It's the government who take 66% in tax!

    The oil companies are only making huge profits because the cost of refining hasn't changed but the price of the oil has.
  4. If the oil companies dropped the wholesale price of their product then the petrol stations wouldn't put up their prices.
  5. The majority of a forecourt's income comes from people buying the goods inside the shop. Petrol is just a means of getting them to come inside.
  6. Yep, not denying its the governments fault the fuel prices are so high ( just didnt want to get into a "labour governement are shit "conversation)- but doesnt help when garages jump on the bandwagon- and my original point was (bluntly) people get executed in other countries for less than we have to put up with .
  7. The equation is:

    Oil Companies have to pay 65% of the price to the Government
    Oil Companies then have to pay 30% of any profits made to the Government
    Oil Companies then get a windfall tax, over and above the ordinary company tax of £4bn which they pay to the Government.
  8. Sven - The oil companies get taxed twice on their expensively procured product, 1st tax is on the extraction of oil from the North Sea in the first place, 2nd tax is on the sale of the product at the pump. The government get it twice. Most of the oil profits declared were not from oil production. The companies have other businesses from which they derive their profits. Government come back for another slice of their tax cake when taxing the company profits.

    Perhaps if our government werent so quick to jump in with GWB to attack Iraq we may not be paying so much for our oil. Iraq after all was outside of OPEC.
  9. the_boy_syrup

    the_boy_syrup LE Book Reviewer

    Do you ever say anything against the Goverment?

    If the goverment cut the tax then the price would drop

    Look here
    You work - pay tax
    You save - pay tax
    You buy a car - pay tax
    You pay road tax
    You MOT it - pay tax
    You fill it up with petrol - pay tax
    You go to Tesco/Asda/Sainsbury/Morrison/Corner shop - pay tax
    Oil companies - pay tax
    Food production companies - pay tax
    Tesco/Asda/Sainsbury/Morrison/Corner - pay tax

    Sven do you see a theme?
  10. How? Why? Oil has to be got out of ground, which has to be paid for. To move the oil has to be paid for, to refine the oil has to be paid for, to move the fuel to the consumer has to be paid for. To find and extract more oil costs even more. Or are you thinking the Oil companies should do it for free?

    By the way, those vast profits are pre tax look here

    Mainly the words
    "BP’s pre-tax profits surged 48 per cent in the first quarter to £3.3 billion while Shell increased its profits 12 per cent to a record £3.9 billion."

    How much tax will the Government take? Well, lets look. The Oil Companies pay Corporation Tax AND Petroleum Revenue Tax, which is rated at 50% of Pre tax profits. That's £1.6 Billion punds from BP ALONE.
  11. I do, and it makes me want to KILL!!! :evil:
  12. ugly

    ugly LE Moderator

    Having just parted with £65 to fill up my diesel pick up I certainly dont want to part with any cash in the shop!
  13. You forgot one:

    You Die, You Pay TAX...

    There was a fuel protest by the truckers yesterday, buy it was mightily played down by the Media. Obviously under threat from the government like the last lot of farmers and truckers that protested in 2000.

  14. I think $39Bn in profits in one year is more than enough. In the US THE OIL COMPANIES STILL GET TAX BREAKS!!!


    They claim it's the market price of of a barrel of oil but what they do not tell you is that they are the ones drilling the oil. It doesn't cost them $100 to drill a barrel of oil, but they sell it to themselves (Still trying to figure that one out) and then claim the price is what drives the refining price.

    Fact of the matter is that we are back in the age of the robber barons.

    The US used to be a democracy but I am convinced it no longer is. We are a country run by corporate warlords. Instead of gunmen in jeeps, it's lawyers and lobbyist groups.
  15. The telegraph today said that the garages themselves make about 2p a litre on petrol. Its not much is it?
    They pretty much have to entice you into the shop,thats where the real profits lie
    The only people really laughing are the oil company shareholders,and the government of coure.
    The increased revenue from petrol isnt going to cover the losses from smoking and drinking taxes. Expect more taxes on everything to cover that one