f1_fan

iTrader: (9)

So it seems that the oil companies are being investigated for possible price fixing.

Oil company offices raided in EU pricing probe

Been saying for years that the price we are paying in the UK makes no sense half the time e.g. rising 8p a litre in the first two months of this year when supply is high and demand low.

Let's see if anything comes of it or will it be the usual load of bluster about how this and that have to be taken into account?

Bonehead

It'd be nice if something comes from this to ease the price at the pump but I'm struggling to expect anything other than being disapointed

zip106

See that carpet over there?

That's where it'll be swept under....

The Dogs B******s

As above.

Wish

iTrader: (2)

They want to check out the tax the government place on the fuel as well !

scoobynutta555

I've slashed my usage of fuel. I cycle into work 15 miles each way when I can (roughly 50% of the time) and have a car that averages 55 mpg. If they made a proper national network of cycle routes where you don't have juggernauts rolling inches past you a lot more people would commute long distances by bike. Forget the waste of money that HS2 would be.They can stick their £1.45 a litre up their ****

ReallyReallyGoodMeat

Hang on, isn't that the primary purpose of oil cartels like OPEC? Cut production when demand is low to keep prices high? How's this any different

GlesgaKiss

It wouldn't surprise me in the slightest. It's one of the most important commodities in the world. One question I want to ask is how much money do they need?

Mouser

Good grief! Next thing they'll be telling us is you can't trust the banks.

Matteeboy

Work in energy, you can do what the f*** you like and not give a to55.

zip106

But what would happen if found guilty?

A big fine?

Won't make a scrap of difference to fuel prices, imo.

hodgy0_2

It those w4nkers at the EU at it again

mrmadcap

That's what they want, us mugs cycling everywhere and the elite driving around in their cars on empty roads.
Who wants to cycle to work in the pissing down rain every day?

National cycle network or not

hodgy0_2

naive in the extreme, you can never have enough - need is irrelevant

cster

That is the curse of greed I guess.

Oldun

Errmm, isn't it the EU Commission that's done the dirt digging on this?



The oil price is set by OPEC, it's then up to the distributors to decide what to charge.
OPEC prices up... petrol goes up almost immediately.
OPEC prices down..... petrol prices come down when?

About time this was looked into.

hodgy0_2

i was being ironic

Oldun

Damn, irony fail for me so early in the day.

Clarebabes

Yes, a big fine which will "have to get passed onto consumers" even though shareholders still get their dividends... We can be controlled if fuel prices are high, stops us doing the things we want to.

There is too much money and power in the oil industry to have it ruined by this little investigation. If we find out they did fix the price, they'll be a big hoo har about it and then we'll all just carry on filling our tanks with the stuff.

As for the cycle path idea, yes, sounds great in theory, but how do they make money out of it? Building a road and charging people to use it makes much more sense!

Matteeboy

Wouldn't it be nice if the fine was divided among all motorists.

Oh...

Clarebabes

Yes, good news if you kept your petrol receipts over the last few years

dpb

Got to be seen to do the right thing - isn't this what the EU is about




That and creating a federal state


Of course it won't go anywhere

alcazar

iTrader: (2)

It has been, several times, by successive UK governments.

Their conclusions? Nothing untoward was going on, no profiteering, and please leave the Labour/Tory party donations under the third stone from the door of Downing Street

RobsyUK

iTrader: (2)

Fuel is something we need to live so this is obvious. Sadly if the prices do come down the government will put them up!

f1_fan

iTrader: (9)

Don't worry lads and lasses as Cameron is 'deeply concerned' so I am sure he will sort it out..... after all he is a man of action and few words

David Cameron 'deeply' concerned by oil price fixing claims

EddScott

Interesting to see if they come up with something when the OFT in the UK said they couldn't find any wrong doing. Will look bad for OFT if something does come out of all this.

It won't make any difference to fuel price.

alcazar

iTrader: (2)

That's the THIRD time OFT have been tasked to look at the oil industry, and EACH time they find no problem.

Who would like to bet some of them go home richer?

But the main problem is that something like 80% of the price of fuel is tax, and THAT ain't going down any time soon, you eco-terrorist, criminal b@stards! LOL
Plus if the price stays high, so does VAT, and guess who benefit AGAIN???

Neanderthal

iTrader: (6)

Diverting funds ready to be poised for some share buying when the fine gets announced and they plummet (or not as the case may be...)

f1_fan

iTrader: (9)

Assuming 1.33 a litre it's about 58p duty, 48p product, 22p VAT and 5p for delivery/retailer so it's (48 +22)/133 = 53% tax approx. Not good, but not quite 80% either. The oil companies are taking their chunk too

alcazar

iTrader: (2)

I thought tax was around 60% Plus VAT.

Just looked and you are right
But WHY is diesel 5p per litre dearer in the UK? And cheaper by almost 20p per litre almost everywhere else?