Oil and the price of fuel.

Discussion in 'Current Affairs, News and Analysis' started by Wija, Jan 24, 2008.

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  1. Price of Oil 2 weeks ago - $100. Price of fuel went through the roof.


    Price of oil today - $86 - Price of fuel still same as it was at the peak of the oil price.


    Now I know there was a half hearted blockade 7 years ago... but surely it is time that we as a collective ie: drivers, tax payers..... do something. It is a fooking disgrace.

    It is clear the Government won't do fook all as they are raking it in, and the fuel companies are making huge profits.

    Is there anything in realistic terms we can do about it?
     
  2. Here in Thailand the price of petrol and diesel has dropped 3 times in the last 9 days.

    No surprise it has not dropped in the UK.

    The Pound has gone down a little against the Greenback,but not by much.

    Just plain old profiteering by the oil companies,aided and abetted by the government,as 17.5% of the price of fuel goes to them as VAT,so they won't be wanting the price to go down too soon.

    On 1st April,I think the government will be adding 2 pence(plus VAT) to each litre sold.

    Higher fuel prices mean the MPs will be able to claim more money on their mileage accounts.

    Whoever the Labour MP is that(allegedly) claims 240,000 miles a year must be laughing all the way to the bank.
     
  3. It's getting to the stage of nearly 60 quid a week to work for me, and I have little choice but to drive to work as my shifts either start or finish when there's no public transport.

    F ucking nice one Gordon Broon ya bad haired commie c unt.
     
  4. Price of a GALLON in the US = £1.50 (max)
    Price of a GALLON in the UK = £4.80 (ish)

    Any ideas why ? because I haven't other than the fear of losing an election. Maybe the only way to get fair play is to put the fear of losing an election into our Govt. Sadly we are adept at taking these things on the chin, something has to change.
     
  5. Just for info - around 78% of the price of the fuel goes to the Government.
     
  6. Based on that figure we pay 12 times more tax than the americans

    they pay 30p a gallon and we pay £3.60

    Aren't the govt about to put another 2p per litre (9p a gallon) on it for tax ?
     
  7. My bolding.

    Yep. TAX. In the UK the vast majority of the money you pay for petrol/diesel goes to the treasury.

    Oh. the reason that fuel goes up imediately when oil price rises is because the companies are now paying more for it and pass the cost on. The reason it takes time for oil price drops to hit the forecourt is because they paid that higher price for that fuel. They are corporations. Being a corporation makes them legally bound to earn as much as they possibly can for their shareholders. Bugger the environment, customers and workers the legal obligation is to maximise profits for shareholders. BTW, you may unknowingly be one (shareholder).
     
  8. Our gallon and the American gallon are not the same: 1 gallon US = 0.83 gallon UK, which makes ours slightly less expensive in comparison. Still an horrendous difference though... :cry:
     
  9. the price of a barrel today is actually at the rate from 6 months ago. I.e if the market reaches $101 per barrel tomorrow it will take 6 months to come into effect.

    Oil and it's by-products are pretty cheap when you consider the costs involved in drilling, production and refining. Compare a litre of petrol (minus tax) with a litre of coke or bottled water.
    Our problem is the robbing barstewards that add so much Tax onto the price of fuel.
     
  10. Yes and no....barrels of oil are a unified measure...alas I cant remember what it is.
     
  11. 1 barrel (bbl) is 159 litres.

    so at $100 per bbl, 1 litre of crude costs $1.59 (approx 80p)

    I am not sure how many litres of petrol can be extracted from 1 litre of crude.
     
  12. Do you want to run that by me again?

    Our Gallon is smaller than the US Gallon (true)

    So how does that make ours any less expensive? surly its more so

    1 Litre = .26 US Gallons but only .22 UK Gallons

    So a Litre of Petrol sells for around £1.20 in the UK
    Directly compared with around 31.2p a litre in the USA
     

  13. F ucking nice one Gordon Broon ya bad haired no charisma commie c unt!
     
  14. Only 45.8% of a barrel is Gasoline (Petrol)

    http://www.lmoga.com/refoutput.htm
     
  15. Includes Diesel aswell I think