Crude oil price down 9% in 2 days , how long until it's reflected @ the pumps
05 January 2007, 12:05 PM
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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 
Dave
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05 January 2007, 12:06 PM
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05 January 2007, 12:19 PM
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Originally Posted by LongTimeLurker
05 January 2007, 02:02 PM
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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).
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).
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09 January 2007, 04:14 PM
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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
News:Petrol duty new poll tax says survey - from MotorInsurance.co.uk
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