FUEL AND TAX PRICE PROTEST 19TH JULY
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I've said it before on this thread that nothing will happen unless something that brings the country to a standstill is staged. So we're probably in agreement to a certain extent.
The thing with fuel duty is that the government can afford to cut it by quite a bit, despite what they say.
They are raking in far more in fuel tax than they were a year ago, purely because prices have gone up, therefore any extra money is surplus to what they needed then.
The thing with fuel duty is that the government can afford to cut it by quite a bit, despite what they say.
They are raking in far more in fuel tax than they were a year ago, purely because prices have gone up, therefore any extra money is surplus to what they needed then.
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The U-turn on the VED will cost the Government tuppence. The whole idea is to scrap something that doesn't really cost very much so they can then proclaim how good they are at listening to the public.
It's ironic really, but the way you could all hurt the Government the most (in the short term) would be to switch to a more fuel efficient car. Then you wouldn't have to give them so much money and if enough of you did it it would have an effect on tax revenue.
Out of interest, if you do succeed in reducing the amount of tax on fuel, which taxes will you want increasing to cover the hole in the budget calculations? Please don't say you want to tax "The Rich" because that is about as likely to happen as Labour getting re-elected.
It's ironic really, but the way you could all hurt the Government the most (in the short term) would be to switch to a more fuel efficient car. Then you wouldn't have to give them so much money and if enough of you did it it would have an effect on tax revenue.
Out of interest, if you do succeed in reducing the amount of tax on fuel, which taxes will you want increasing to cover the hole in the budget calculations? Please don't say you want to tax "The Rich" because that is about as likely to happen as Labour getting re-elected.
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I've said it before on this thread that nothing will happen unless something that brings the country to a standstill is staged. So we're probably in agreement to a certain extent.
The thing with fuel duty is that the government can afford to cut it by quite a bit, despite what they say.
They are raking in far more in fuel tax than they were a year ago, purely because prices have gone up, therefore any extra money is surplus to what they needed then.
The thing with fuel duty is that the government can afford to cut it by quite a bit, despite what they say.
They are raking in far more in fuel tax than they were a year ago, purely because prices have gone up, therefore any extra money is surplus to what they needed then.
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Well if they've screwed up their financial predictions that shouldn't be our problem. 
Plus the NHS is in as bad a state now as it was 11 years ago. All they would need to do is get rid of a few Management Consultants, which is where most of the taxes have gone!
Plus the NHS is in as bad a state now as it was 11 years ago. All they would need to do is get rid of a few Management Consultants, which is where most of the taxes have gone!
The U-turn on the VED will cost the Government tuppence. The whole idea is to scrap something that doesn't really cost very much so they can then proclaim how good they are at listening to the public.
It's ironic really, but the way you could all hurt the Government the most (in the short term) would be to switch to a more fuel efficient car. Then you wouldn't have to give them so much money and if enough of you did it it would have an effect on tax revenue.
Out of interest, if you do succeed in reducing the amount of tax on fuel, which taxes will you want increasing to cover the hole in the budget calculations? Please don't say you want to tax "The Rich" because that is about as likely to happen as Labour getting re-elected.
It's ironic really, but the way you could all hurt the Government the most (in the short term) would be to switch to a more fuel efficient car. Then you wouldn't have to give them so much money and if enough of you did it it would have an effect on tax revenue.
Out of interest, if you do succeed in reducing the amount of tax on fuel, which taxes will you want increasing to cover the hole in the budget calculations? Please don't say you want to tax "The Rich" because that is about as likely to happen as Labour getting re-elected.
Please listen to the news. BBC announced this morning that the government has reportedly already made over £1billion more than expected in fuel tax this year (and that's in addition to what their recent hikes have made them) due to the higher than expected fuel prices.
£1 billion. That should be a good start for covering the hole?
Oh, and the cost of dropping 2p hike? £1 billion according to Mr Darling. So why do we need the increase then? Does Mr Brown fancy a new kitchen again?
Last edited by MrNoisy; May 28, 2008 at 05:47 PM.
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I see we're back to this again.
Please listen to the news. BBC announced this morning that the government has reportedly already made over £1billion more than expected in fuel tax this year (and that's in addition to what their recent hikes have made them) due to the higher than expected fuel prices.
£1 billion. That should be a good start for covering the hole?
Oh, and the cost of dropping 2p hike? £1 billion according to Mr Darling. So why do we need the increase then? Does Mr Brown fancy a new kitchen again?
Please listen to the news. BBC announced this morning that the government has reportedly already made over £1billion more than expected in fuel tax this year (and that's in addition to what their recent hikes have made them) due to the higher than expected fuel prices.
£1 billion. That should be a good start for covering the hole?
Oh, and the cost of dropping 2p hike? £1 billion according to Mr Darling. So why do we need the increase then? Does Mr Brown fancy a new kitchen again?
I'm sorry to be so bloody boring, but £1bn is chum change. In 2008/9 the Government is expecting to need to borrow £43bn (forty three billion Pounds)to finance its spending plans. That means that it needs £43bn on top of all the money it gets from tax to pay for all its spending. All indications are that it has grossly UNDERESTIMATED this figure. The high fuel price might be bringing in more tax revenues from petrol/diesel, but it is undermining just about every other area of the economy. This country is in a bloody mess and if the Government does decide to reduce fuel tax it will be a decision that is motivated entirely by the desire to be re-elected and have nothing to do with sound economics.
You asked how to plug the hole made by fuel tax reductions. I told you.
You didn't ask me to come up with a solution on how to fix the gaping hole in the entire budget! I'd give it a shot to be fair - I'm sure I'd do better than the useless tw*t in charge now!
Oh and as for getting re-elected - PMSL - who are they kidding!
Fuel in our area has gone up by over 20p a litre since the start of the year.
Daylight bloody robbery regardless of what anyone says - the fuel companies have more than enough to supply the world - it's OPEC lowering production levels to keep prices artificially high that's causing a lot of it.
That said - the fact that prices are higher should mean the government should require less tax of fuel to meet its budgetary requirements. The fact that they've already made £1bn more this year on fuel tax than they expected to confirms that!
Queue Blueblaster who will explain why they won't drop taxes again
(I'm only winding you up mate)
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From: Near a V-Power petrol station or A&B roads
Maybe we should go along with bluebaster and don't protest for anything because what will change.
We shouldn't have protested for poll tax or anyone on the scrapping of the 10p limit.
If the government taxes us per mile we travel on top of exercise duty. Don't protest they know what they are doing. I know the government has big plans to build loads more hospitals so our protests will damage that. Or even all those new schools they are creating (no no they are not merging more schools!).
Hey don't mess with the government or they might close more local amenities we wouldn't want them closing Post Offices now would we ... The government are not looking to save more money and pass it on they are not looking to get rid of 10's of thousands of civil servants by 2012 ... so they won't have more money. Also don't protest in case they give below inflation pay increases to police, teachers, etc while making above inflation increases on various taxes...
The politicians as a whole are largely like us. They tax us relatively well as they know all these taxes will have the same impact on their own wages as we all know they pay themselves way below inflation, keep their pay to the national average and want to show us all their expenses that they have legitimately spent in making us more wealthy.
We are all more than happy in paying on average more than 50% of gross earnings to the government. Thats right so they have 50% on average of each person's wage to deliver that amount of beneficial services to us....
Please close this thread whats the point.....
We shouldn't have protested for poll tax or anyone on the scrapping of the 10p limit.
If the government taxes us per mile we travel on top of exercise duty. Don't protest they know what they are doing. I know the government has big plans to build loads more hospitals so our protests will damage that. Or even all those new schools they are creating (no no they are not merging more schools!).
Hey don't mess with the government or they might close more local amenities we wouldn't want them closing Post Offices now would we ... The government are not looking to save more money and pass it on they are not looking to get rid of 10's of thousands of civil servants by 2012 ... so they won't have more money. Also don't protest in case they give below inflation pay increases to police, teachers, etc while making above inflation increases on various taxes...
The politicians as a whole are largely like us. They tax us relatively well as they know all these taxes will have the same impact on their own wages as we all know they pay themselves way below inflation, keep their pay to the national average and want to show us all their expenses that they have legitimately spent in making us more wealthy.
We are all more than happy in paying on average more than 50% of gross earnings to the government. Thats right so they have 50% on average of each person's wage to deliver that amount of beneficial services to us....
Please close this thread whats the point.....
Maybe we should go along with bluebaster and don't protest for anything because what will change.
We shouldn't have protested for poll tax or anyone on the scrapping of the 10p limit.
If the government taxes us per mile we travel on top of exercise duty. Don't protest they know what they are doing. I know the government has big plans to build loads more hospitals so our protests will damage that. Or even all those new schools they are creating (no no they are not merging more schools!).
Hey don't mess with the government or they might close more local amenities we wouldn't want them closing Post Offices now would we ... The government are not looking to save more money and pass it on they are not looking to get rid of 10's of thousands of civil servants by 2012 ... so they won't have more money. Also don't protest in case they give below inflation pay increases to police, teachers, etc while making above inflation increases on various taxes...
The politicians as a whole are largely like us. They tax us relatively well as they know all these taxes will have the same impact on their own wages as we all know they pay themselves way below inflation, keep their pay to the national average and want to show us all their expenses that they have legitimately spent in making us more wealthy.
We are all more than happy in paying on average more than 50% of gross earnings to the government. Thats right so they have 50% on average of each person's wage to deliver that amount of beneficial services to us....
Please close this thread whats the point.....
We shouldn't have protested for poll tax or anyone on the scrapping of the 10p limit.
If the government taxes us per mile we travel on top of exercise duty. Don't protest they know what they are doing. I know the government has big plans to build loads more hospitals so our protests will damage that. Or even all those new schools they are creating (no no they are not merging more schools!).
Hey don't mess with the government or they might close more local amenities we wouldn't want them closing Post Offices now would we ... The government are not looking to save more money and pass it on they are not looking to get rid of 10's of thousands of civil servants by 2012 ... so they won't have more money. Also don't protest in case they give below inflation pay increases to police, teachers, etc while making above inflation increases on various taxes...
The politicians as a whole are largely like us. They tax us relatively well as they know all these taxes will have the same impact on their own wages as we all know they pay themselves way below inflation, keep their pay to the national average and want to show us all their expenses that they have legitimately spent in making us more wealthy.
We are all more than happy in paying on average more than 50% of gross earnings to the government. Thats right so they have 50% on average of each person's wage to deliver that amount of beneficial services to us....
Please close this thread whats the point.....
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I also think that the road tax increase should not be back dated to cars bought from 2001 if anything it should be brought in when the road tax increases then it will give us the option, If we decide to get a new car then at least we will know what the price of the road tax will be.
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150. Paul Woodford
151. NickG
152. zs_phil
153. paling(zsoc)
154. Bender
155. Dan B (zsoc )
156. Nick
157. jenny mellan
158. Simran Bourne
159. Charlotte
160. Jenny
161. milbourne zsoc
162. jamie g (zsoc)
163. Paul3446
164. scoobyman223
165. Johnathan Easton
166. Talk2Dave
167. jamie g (zsoc)
168. Alan
169. Paul T
170. mark
171. sri baby
172. Chris (Lanark)
173. Bluenose1878
174. craig behagg
175. Rover Turbo
176. Jim Bean
177. Kerri
178. carl hickford
179. beij
180. Daniel page
181. Bluescoobywrx (L/line)
182. Ben2563
183. Winkers
184. Mark
185. Shaun -Turdz555
186. Slamsti
187. mus 1st class sti type r
188. Shot8un
189. Simpsons
190 Col Stone
191 CyprusScooby
192. PJ748r
193. Pete
194. phil739
195. p@ul
196. Ricardo (LJP)
197. Wr1mposter
198. redduc
199. TurboAndy
200. Tony01
201. Einstein Ra
202.iamrab
203. S66SHA
204 alba15031
205 KP51 BAD
206 funk247
207 spongebob 3
208 young un from subaru-central.com
209 big fud aka mark ward
210 **** a.k.a Andy f -subaru-central.com
211 madtatter aka ACE subaru-central.com
212. ste a.k.a scooby sport subaru-central.com
213 dec14n
214 Nobbie (migweb.co.uk)
215 Doobyscoodo
216. darms
217 davmcc75
218. lammylama
219. Lewak
220. Spleenmachine
221 m3dyn
222. sime 71
223.shawn r
224. dan83590
2. KevPage
3. stevie1982
4. PantsUK
5. Subaruturbo_18
6. Beanys
7. Ryo
8. STIlover
9. TX
10. Underworld
11. IRC450STI
12. Tidgy
13. Moff1888
14. rcwhite
15. bugeye_scoob
16. Juggers
17. bootsy
18. Osborne
19. Steve001
20. Neilcaven
21. shaggy1973
22. P1 FEK
23. nraponi
24. wayne's scooby
25. Soupdragon
26. hudders1
27. C17RPA
28. VXhalo
29. Going 4 400bhp
30. Cream
31. Bmposer
32 subaruba
33. PhilS Scooby
34. Cosworth27
35. Yodajedimaster
36. bonzee
37. Evilpob
38. Scooby23
40. reano
41. phil wrx
42. Northern Nick
43. 340bhp-wrx
44. AW8
45. The G Man
46. Spartacus
47. nitronick
48. Bazzer
49. GUS DUNBAR
50. James B
51. DogsnutsEA
52. Stiggy
53. Andy
54. hairdye
55. 340bhp-wrx
56. Vash
57. 404BHP
58. API330
59. danfranklin1
60. Mr Forden
61. NeilP1
62. The Borg
63. SCOsazOBY
64. Filfy
65. civic_col
66. James
67. Hayward691
68. steven mc girr
69. GREGGYG
70. Lemster
71. David (Audi RS6 and Ibiza Cupra KO4)
72. Dan W
73. Sarah
74. Dean Kinch
75. David
76. Scotty
77. paul
78. Shane Holland
79. Graeme McFarlane
80. Craig saunders ..SS..
81. big_al
82. Wok67
83. Stephen Taylor
84. old skool's kool
85. Russ
86. dave lowe
87. Ray Harrison
88. Dave K
89. shennan
90. Paula555
91. Danial Pidcock
92. mshill
93 Rikroe666
94. Barry Smith
95. Stuart
96. Rodregos
97. Volcom
98. Renny
99. Borgie
100. ScoobyP1
101. Elodie C. W
102. Ken Of Notts
103. Geoveo
104. Kip
105. Lee
106. Simple_RR_4.6_Vogue
107. Dan
108. Pete Walker
109. Mivec88
110. Dave Shaw
111. Glyn
112. Pistandbroke
113. Philip Gordon
114. RB5 286
115. djmisio85
116. Bish667
117. flat4 to the floor
118. Sparky d
119. Finalzero
120. Marcy Boy (RSOC)
121. dan_cup (RSOC)
122. doncarlyon (RSOC)
123. Mark3106 (RSOC)
124. cj rsturbo (RSOC)
125. MAD-FRS (RSOC)
126. demonpete (RSOC)
127. Shins (RSOC)
128. wallzyuk (RSOC)
129. FRS3052 (RSOC)
130. Kmrobertson3 (RSOC)
131. cootsie (RSOC)
132. AndyRST (RSOC)
133. Essex_Rs (RSOC)
134. ukmayhem (RSOC)
135. Stevet350
136. Gaffa (RSOC)
137. biganddaft (RSOC)
138. Andy_RS2113 (RSOC)
139. Sebspring (RSOC)
140. rsdave (RSOC)
141. ben_wood_2000 (RSOC)
142. DannyTRS (RSOC)
143. mrsimmers (RSOC)
144. Leggy Pete (RSOC)
145. Stressymare (smacs)
146. roadspear
147. Oli Stanley
148. Brian172
149. Jock F1 R26
150. Paul Woodford
151. NickG
152. zs_phil
153. paling(zsoc)
154. Bender
155. Dan B (zsoc )
156. Nick
157. jenny mellan
158. Simran Bourne
159. Charlotte
160. Jenny
161. milbourne zsoc
162. jamie g (zsoc)
163. Paul3446
164. scoobyman223
165. Johnathan Easton
166. Talk2Dave
167. jamie g (zsoc)
168. Alan
169. Paul T
170. mark
171. sri baby
172. Chris (Lanark)
173. Bluenose1878
174. craig behagg
175. Rover Turbo
176. Jim Bean
177. Kerri
178. carl hickford
179. beij
180. Daniel page
181. Bluescoobywrx (L/line)
182. Ben2563
183. Winkers
184. Mark
185. Shaun -Turdz555
186. Slamsti
187. mus 1st class sti type r
188. Shot8un
189. Simpsons
190 Col Stone
191 CyprusScooby
192. PJ748r
193. Pete
194. phil739
195. p@ul
196. Ricardo (LJP)
197. Wr1mposter
198. redduc
199. TurboAndy
200. Tony01
201. Einstein Ra
202.iamrab
203. S66SHA
204 alba15031
205 KP51 BAD
206 funk247
207 spongebob 3
208 young un from subaru-central.com
209 big fud aka mark ward
210 **** a.k.a Andy f -subaru-central.com
211 madtatter aka ACE subaru-central.com
212. ste a.k.a scooby sport subaru-central.com
213 dec14n
214 Nobbie (migweb.co.uk)
215 Doobyscoodo
216. darms
217 davmcc75
218. lammylama
219. Lewak
220. Spleenmachine
221 m3dyn
222. sime 71
223.shawn r
224. dan83590
D`oh where is no 1
this is correct I believe...
1. The Chief
2. KevPage
3. stevie1982
4. PantsUK
5. Subaruturbo_18
6. Beanys
7. Ryo
8. STIlover
9. TX
10. Underworld
11. IRC450STI
12. Tidgy
13. Moff1888
14. rcwhite
15. bugeye_scoob
16. Juggers
17. bootsy
18. Osborne
19. Steve001
20. Neilcaven
21. shaggy1973
22. P1 FEK
23. nraponi
24. wayne's scooby
25. Soupdragon
26. hudders1
27. C17RPA
28. VXhalo
29. Going 4 400bhp
30. Cream
31. Bmposer
32 subaruba
33. PhilS Scooby
34. Cosworth27
35. Yodajedimaster
36. bonzee
37. Evilpob
38. Scooby23
40. reano
41. phil wrx
42. Northern Nick
43. 340bhp-wrx
44. AW8
45. The G Man
46. Spartacus
47. nitronick
48. Bazzer
49. GUS DUNBAR
50. James B
51. DogsnutsEA
52. Stiggy
53. Andy
54. hairdye
55. 340bhp-wrx
56. Vash
57. 404BHP
58. API330
59. danfranklin1
60. Mr Forden
61. NeilP1
62. The Borg
63. SCOsazOBY
64. Filfy
65. civic_col
66. James
67. Hayward691
68. steven mc girr
69. GREGGYG
70. Lemster
71. David (Audi RS6 and Ibiza Cupra KO4)
72. Dan W
73. Sarah
74. Dean Kinch
75. David
76. Scotty
77. paul
78. Shane Holland
79. Graeme McFarlane
80. Craig saunders ..SS..
81. big_al
82. Wok67
83. Stephen Taylor
84. old skool's kool
85. Russ
86. dave lowe
87. Ray Harrison
88. Dave K
89. shennan
90. Paula555
91. Danial Pidcock
92. mshill
93 Rikroe666
94. Barry Smith
95. Stuart
96. Rodregos
97. Volcom
98. Renny
99. Borgie
100. ScoobyP1
101. Elodie C. W
102. Ken Of Notts
103. Geoveo
104. Kip
105. Lee
106. Simple_RR_4.6_Vogue
107. Dan
108. Pete Walker
109. Mivec88
110. Dave Shaw
111. Glyn
112. Pistandbroke
113. Philip Gordon
114. RB5 286
115. djmisio85
116. Bish667
117. flat4 to the floor
118. Sparky d
119. Finalzero
120. Marcy Boy (RSOC)
121. dan_cup (RSOC)
122. doncarlyon (RSOC)
123. Mark3106 (RSOC)
124. cj rsturbo (RSOC)
125. MAD-FRS (RSOC)
126. demonpete (RSOC)
127. Shins (RSOC)
128. wallzyuk (RSOC)
129. FRS3052 (RSOC)
130. Kmrobertson3 (RSOC)
131. cootsie (RSOC)
132. AndyRST (RSOC)
133. Essex_Rs (RSOC)
134. ukmayhem (RSOC)
135. Stevet350
136. Gaffa (RSOC)
137. biganddaft (RSOC)
138. Andy_RS2113 (RSOC)
139. Sebspring (RSOC)
140. rsdave (RSOC)
141. ben_wood_2000 (RSOC)
142. DannyTRS (RSOC)
143. mrsimmers (RSOC)
144. Leggy Pete (RSOC)
145. Stressymare (smacs)
146. roadspear
147. Oli Stanley
148. Brian172
149. Jock F1 R26
150. Paul Woodford
151. NickG
152. zs_phil
153. paling(zsoc)
154. Bender
155. Dan B (zsoc )
156. Nick
157. jenny mellan
158. Simran Bourne
159. Charlotte
160. Jenny
161. milbourne zsoc
162. jamie g (zsoc)
163. Paul3446
164. scoobyman223
165. Johnathan Easton
166. Talk2Dave
167. jamie g (zsoc)
168. Alan
169. Paul T
170. mark
171. sri baby
172. Chris (Lanark)
173. Bluenose1878
174. craig behagg
175. Rover Turbo
176. Jim Bean
177. Kerri
178. carl hickford
179. beij
180. Daniel page
181. Bluescoobywrx (L/line)
182. Ben2563
183. Winkers
184. Mark
185. Shaun -Turdz555
186. Slamsti
187. mus 1st class sti type r
188. Shot8un
189. Simpsons
190 Col Stone
191 CyprusScooby
192. PJ748r
193. Pete
194. phil739
195. p@ul
196. Ricardo (LJP)
197. Wr1mposter
198. redduc
199. TurboAndy
200. Tony01
201. Einstein Ra
202.iamrab
203. S66SHA
204 alba15031
205 KP51 BAD
206 funk247
207 spongebob 3
208 young un from subaru-central.com
209 big fud aka mark ward
210 **** a.k.a Andy f -subaru-central.com
211 madtatter aka ACE subaru-central.com
212. ste a.k.a scooby sport subaru-central.com
213 dec14n
214 Nobbie (migweb.co.uk)
215 Doobyscoodo
216. darms
217 davmcc75
218. lammylama
219. Lewak
220. Spleenmachine
221 m3dyn
222. sime 71
223.shawn r
224. dan83590
Hmmm wonder how many will fail to make this protest as they seem to not even be able to cut and paste let alone drive pmsl
Scooby Regular
Joined: Oct 2004
Posts: 8,328
Likes: 0
From: There is only one God - Elvis!
Scooby Regular
Joined: Jan 2006
Posts: 1,070
Likes: 0
Just a new take on this for you. An interesting article in the Financial Times yesterday - I'm sure you all saw it
. Essentially what is was hypothecating was that oil is very close to a "destruction price". This is the price at which it has become so expensive that no one actually wants it anymore. Europe and the US have already reached their destruction price while Asia is now getting very close because the artifical caps and Government subsidies that are being used to keep the price affordable are becoming unsustainable. Combined with record food prices a lot of Asia's poorest people would be able to afford fuel.
It then went on to suggest that once it becomes clear to speculators that the price isn't going to go any higher they will all bail out and take their profits. This in turn will cause the price to drop significantly. Now, we aren't going to return to early 2007 price levels ($70ish per barrel compared to $130 today) but we could be looking at a return to $100. That would take petrol back to the £1/litre mark which most of you I suspect could live with.
So you may not need you protest after all. The market will do it for you.
. Essentially what is was hypothecating was that oil is very close to a "destruction price". This is the price at which it has become so expensive that no one actually wants it anymore. Europe and the US have already reached their destruction price while Asia is now getting very close because the artifical caps and Government subsidies that are being used to keep the price affordable are becoming unsustainable. Combined with record food prices a lot of Asia's poorest people would be able to afford fuel.It then went on to suggest that once it becomes clear to speculators that the price isn't going to go any higher they will all bail out and take their profits. This in turn will cause the price to drop significantly. Now, we aren't going to return to early 2007 price levels ($70ish per barrel compared to $130 today) but we could be looking at a return to $100. That would take petrol back to the £1/litre mark which most of you I suspect could live with.
So you may not need you protest after all. The market will do it for you.
I hope the above is correct but my main problem is what our government takes (as highlighted in that sun article) that needs to be re-addressed as our public services are not good enough to remove the need to use a car.
But yes that would make me happy !!!!
But yes that would make me happy !!!!
Scooby Regular
Joined: Aug 2006
Posts: 3,214
Likes: 0
Last edited by dan83590; May 30, 2008 at 11:22 AM.
Scooby Regular
Joined: Sep 2004
Posts: 287
Likes: 0
From: Sunny Ecosse
Blueblaster .. do you honestly think that if the oil price goes back to $100 that the petrol price will go back to nearer £1 a litre .. ?
Can I borrow your rose tinted specs as I mislaid mine last week
Avalyn.
Can I borrow your rose tinted specs as I mislaid mine last week
Avalyn.
Last edited by Avalyn; May 30, 2008 at 12:00 PM. Reason: bed speeling
Scooby Regular
Joined: Jan 2006
Posts: 1,070
Likes: 0
Yes I do. VAT on fuel will drop so that is a given. Then market competition would force the petrol stations to start lowering their prices. They might drag their heels to begin with to try a boost profits, but if the price of oil falls the price of petrol at the pumps will fall.
Scooby Regular
Joined: Jan 2006
Posts: 1,070
Likes: 0
There is always a lag between oil price and forecourt price. There is almost certainly going to be an initial reluctance to drop prices as there is a genuine opportunity to make some big profits. But prices will fall. If the oil price drops permanently to $100 I am happy to take a bet that you'll be able to buy regular unleaded for less than £1/litre.
Scooby Regular
Joined: Apr 2008
Posts: 55
Likes: 0
From: www.carnage-performance.com
Scooby Regular
Joined: Jan 2006
Posts: 1,070
Likes: 0
If you spend enough time reading the business pages of quality newspapers you can pick up quite broad base of knowledge on a lot of subjects. Leaving that aside it is all quite logical, as indeed is everything else that has been going on in the world economy recently. Essentially we are still paying VAT and duty on fuel at the same rates as a year ago. VAT is a percentage so that has risen slightly, but by far and away the largest increase in the fuel price has been due to the price of oil. The price you pay at the forecourt is basically
Price of a barrel of oil + refining/transportation cost + Tax + Oil company/retailer profit
Apart from a small increase in VAT the only part of that equation that has changed is the price of a barrel of oil. Therefore, when the price of a barrel of oil falls the price at the pump will fall (there will be a couple of weeks lag).
And the price WILL fall because competition between petrol stations is quite fierce and that will cause it to settle at a level that allows a reasonable amount of profit.
Very simple. I know the meaning of life too (it's not 42), but I'll save that for another thread
.
Price of a barrel of oil + refining/transportation cost + Tax + Oil company/retailer profit
Apart from a small increase in VAT the only part of that equation that has changed is the price of a barrel of oil. Therefore, when the price of a barrel of oil falls the price at the pump will fall (there will be a couple of weeks lag).
And the price WILL fall because competition between petrol stations is quite fierce and that will cause it to settle at a level that allows a reasonable amount of profit.
Very simple. I know the meaning of life too (it's not 42), but I'll save that for another thread
.
