The Governments Fuel Price Cut

Discussion in 'Current Affairs, News and Analysis' started by Call2arms, Jul 22, 2008.

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  1. Price Cuts

    It wasn't the government that cut fuel prices? Quite right, but it didn't stop many on here chuntering away about the government being to blame for petrol rises and so I thought it only fair to give them the credit for their falling.

    Whats that, chunter chunter.......fuel tax.......chunter? When did the Treasury last put up tax?

    How about this Oil drops to $121. The fuel bods are giggling all the way to the bank and another record year, splitting their sides because dullards are just so intent on blaming the government and letting them get on with ripping us all off.
  2. Call2arms

    Its not the oil companies per say that rip us off, they make their money in exploration and refining, its the speculators that bump the price up and considering that approx 75 - 85% of the price of fuel in the UK is made up of fuel duty & VAT.

  3. Look at the second link Stilts, look at the date. The oil companies waited nearly two months before dropping the prices - they didn't wait the same time to put the prices up, even though they had massive reserves which had been bought at a much lower price.
  4. The prices quoted per barrel are 3 month prices, ie I am buying crude oil today for delivery in 3 months time. This creates a time lag on the pricing at the pump.

    The government win on VAT each time the pump price rises, and take nearly 73 pence per litre of product, as well as taxing heavily on exploration, production and profits of the oil companies so effectively they get several bites of the same cherry.

    They will also benefit from increasing electricity and gas prices through VAT.
  5. So when the oil companies were putting up prices within days of crude prices going up they were acting with our best interests at heart? Or do you think they are after another record breaking year?
  6. Yes you keep repeating this same old phrase. Where's your evidence? Or is it something you heard down the pub last night?
  7. Do I.

    Are you working for BP, Shell?
  8. Fact the oil companies dont like having to put up the oil prices in the first place, something to do with the higher the price the less mileage we do (well those of us who pay for fuel) and the less fuel we need. They run chains of forecourt operations which exist on 2 to 3 pence per litre sold, so the higher the price, less fuel sold, less profitable station - even if we didnt buy petrol anywhere tomorrow they still have to pay staff and electric, council taxes etc.

    The oil companies are damned if they do and damned if they dont. Cyclops stopped oil exploration in the North Sea as soon as he got the keys to Number 11, by imposing £5bn of windfall taxes, Taxing exploration and creating a tax on extraction. Naturally the companies moved some of their operations overseas, and stopped exploration, virtually closing down production in the North Sea for 2 or 3 years.

    We pay the highest prices in Europe for one reason and one reason only Tax. If the price of oil is to come down its in the governments hands to remove some of the extortionate taxation from it.

    The important fuel price is Diesel, which was taxed at 5pence per litre ahead of Petrol, until cyclops changed it in the past couple of years. Diesel is now £1.33 here while petrol is £1.18. In europe the price of diesel is still around the Euro per litre (France and Holland) therefore 80 pence per litre.

    Diesel is vital because nothing moves without it, crops arent planted without it, nor are they harvested without diesel powered harvesters.

    This government continues to extract the maximum taxation possible from fuel, and so long as they do the higher inflation will become.
  9. Yes.

    No. Do you?
  10. First - I think it only fair that you identify which phrase you are talking about.
  11. Well put it this way i buy on aveerage 35000 lts a month and everyone in the transport industry knows its a 3 month lead time and i dont work for BP, Shell, Crown Oils, Texaco or any of the others.
  12. That makes three of us then.

    Incidentally White City, I saw the price rises day on day, penny by penny, all over London. You must have seen it too in your part of the UK?
  13. Your first post here claims that oil companies are ripping us off. Youd didn't explain how at that stage, but it becomes clear in your second post.

    In desagreeing with Stilts, you state that oil companies are quick to raise prices and tardy to lower them. You offer no evidence to support this.

    Another poster rebuts your unevidenced bland claims, so you repeat it with a different formulation of words. Again, no evidence to support your comments.

    People may start taking you seriously if you show us evidence of what you claim. At the moment, you just appear as a nob repeating the nonsense you heard down the pub last night. And yes, I've just repeated myself. :)
  14. To go back to the original question it is all about Tax.
    so there and i dont care what you say your probably another one of these spammers.dont you have a nice little conspiracy theory about it were good at them.
  15. And I presume you are Gordon halfwit Brown's alter ego?
    A minimum of 65% of the pump price we pay goes direct to the treasury.
    The rise in the price of oil put £billions in the treasury coffers, they had the ablity to reduce duty at any time to compensate for high oil prices.
    Unfortunately the economy is in such piss poor state they are grasping at every penny that comes their way, wouldn't do for the COmmons to have reduce their bar subsidy or reduce expenses claims because of a shortage of cash would it?
    Inflation, comprising of high fuel prices and food prices, is Browns fault. Not international markets etc, they just compound the issue and the fact we are paying artificially high prices for every commodity.
    The blame lies firmly at Browns door, you can try to divert that blame wherever you like but it won't change the facts.