Crude oil price down 9% in 2 days , how long until it's reflected @ the pumps
 

As above , I bet the price of petrol won't have fallen 9% when I fill up the Scoob next :brickwall

Dave

The radio said asda are doing it today.

Thanks for that ,not quite a 9 % cut but I guess it's a atart :D

hm, petrol is already 85.9 round here, hasn been for ages,maybe drop to 83-84 ??

v power will then go back to 90p as it 7p dearer than 95 ron

Of course it wont fall 9%, the main price of petrol is in the fixed rate tax the government levies on it.

The only 'bit' of petrol that has fallen 9% is the cost of the oil + the VAT on that peice of the cost, the refining/distribution costs are the same, and the government has actually put up fuel duty by a penny as of the last budget.


theres no conspiracy by the petrol suppliers to keep the price of petrol up, mainly because the supermarkets are so cuthroat in competing with one another. When the crude rose by 9% pump petrol didnt go up by 9%, likewise when it falls pump petrol wont fall by 9%. (of course the G sneaked in their penny rise on falling crude prices as they knew that no-one would notice).

odd I always thought that the petrol levy was % based not Fixed.

No, the actual duty is a fixed number of pence, was 47p per litre in march 2006. Of course then they charge VAT ( I believe on the whole lot including the duty).
News:Petrol duty new poll tax says survey - from MotorInsurance.co.uk