When will the fuel companies here pass on relatively quickly, reduced pump prices as the cost of crude continues to drop.
In the U.S. they report that since Sept. 5th., a gallon of petrol has dropped 26c with an anticipated further 20c expected by Christmas. They expect a gallon to fall below $3 everywhere. In some states it is already $2.99.
Why doesn't it drop as quick and as much here?
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The actual cost of the product you buy is only a very small part of the price you pay.
You pay £1.33 a litre for unleaded? Only 47.8 p of that is the cost of the petrol. 5p goes the garage and the rest is the Gubbermints.
You should know that criminal enterprises don't like losing income. So if the cost of the fuel was say only 2p a litre you can be sure that the TaxDuty/ DutyTaxVat would be increased to compensate. Keeps the Greenie Weenies happy you see.
Now to buy petrol in the UK ...you open your wallet, trousers down, bend over and think of David Cameron.....
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You should know that criminal enterprises don't like losing income. So if the cost of the fuel was say only 2p a litre you can be sure that the TaxDuty/ DutyTaxVat would be increased to compensate. Keeps the Greenie Weenies happy you see.
Now to buy petrol in the UK ...you open your wallet, trousers down, bend over and think of David Cameron.....
The government is sliding into election mode and has given a prety clear committment not to increase duty during this Parliament. Mind you, there were some weasel words about 'so long as savings can be identified'.
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You should know that criminal enterprises don't like losing income.
Donate some money then and stop musing state funded services.
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You should know that criminal enterprises don't like losing income.
Donate some money then and stop musing state funded services.
Actually I probably pay more income tax than you madf already. I paid oh how I have paid.
So HMG why not take all our money and hand out pocket money?
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What are our expats in mainland Europe finding?
Locally it's probably 10p litre below the early summer peak, 137 for diesel from a high of 146/147. Current prices are around where they were just before the crash in 2008. Slightly less regional variation than was previously the case. Has been as much as 4p/litre less in Leicester than Northampton but only a penny last time I was there.
Maybe differing tax rates are part of the story or are $ exchange rates affecting prices here. Or alternatively the market for road fuel is as rigged as that for gas/electric. If there is a change it's likley to be led by Asda rather than one of the oil companies directly.
Grangemouth may be first of several dominoes in UK refinining etc. Even if it's no more expensive dependance on foreign refining is poor strategy IMO.
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In both Holland and Germany the price of petrol brings tears to the eyes.But on the plus side both countries have a very good road network and good quality roads in general unlike the UK.
Edited by Collos25 on 23/10/2013 at 16:59
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So in the USA, prices have fallen by 26c/US gallon. That is 16p per 3.79 litres, or a little over 4p per litre.
Last month, petrol at the local supermarket was £1.35/l, now it is £1.29.
It seems to me that UK prices have fallen by as much as US prices.
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Do not forget a US gallon is smaller than a UK gallon so any price conversion would have to take this into account.
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which is why i quoted US gallons.
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I was pleasantly surprised to pay £127.7 last night. The last receipt for when I filled the i20 about 6 weeks ago it was £134.7, so prices do seem to have dropped.
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I was pleasantly surprised to pay £127.7 last night. The last receipt for when I filled the i20 about 6 weeks ago it was £134.7, so prices do seem to have dropped.
Blimey, is it THAT expensive in the UK? ;-)
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What are our expats in mainland Europe finding?
Fuel here in Austria has been in recent times one of the cheapest in Europe. This evening, on the way home, diesel was €1.33 a litre, normal petrol around the same, and my brew, super unleaded, stood at €1.417. Prices have recently dropped significantly, by around 5c/liter. The super unleaded was below €1.40 last week, not seen it at that price for around a year.
I'll be topping up tomorrow for a trip to the UK!
Edited by Mike H on 23/10/2013 at 19:13
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Here in north-west France SP 95 (UL) is currently around £1.26 and diesel is around £1.12 all per litre, both at supermarket stations who are the most competitive. The fuel price here goes up and down, we don't seem to have the situation as in the UK where the price goes up and doesn't come down.
Some supermarkets have special days where they say that they are selling the fuel at cost price - allegedly!
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Here in north-west France SP 95 (UL) is currently around £1.26 and diesel is around £1.12 all per litre, both at supermarket stations who are the most competitive. The fuel price here goes up and down, we don't seem to have the situation as in the UK where the price goes up and doesn't come down.
Some supermarkets have special days where they say that they are selling the fuel at cost price - allegedly!
That's fallen a bit since I was there in July. Around E1.3 IIRC.
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My last fill-up in Spain for 95 octane petrol was €1.364 per litre; highest this year was €1.489 in mid-July (peak holiday period!). Prices vary by region here, as there are regional taxes in addition to VAT - on long-distance trips I now time my fill-ups to coincide with low-tax regions
P.S. on trip into France in May it was €1.654
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Even though there is huge tax on the retail of road fuel, don't forget that a raft of additional taxes were introduced upstream too, so the whole thing and us are being taxed to the edge.
I also saw a programme on TV, that showed that a £4 bottle of wine only has 20p of wine in it as there is a £3.80 tax, duty and bottling overhead which has to be met before the actual wine is paid for. This is all paid out of income already taxed at 25%.
Even gasoil (red diesel) is ~95p a litre due to 11p duty and VAT being introduced on it. It was 55p 3 years ago.
Here are the rates (excluding 20% VAT):
www.gov.uk/fuel-duty#rates-of-fuel-duty
Edited by Hamsafar on 24/10/2013 at 10:24
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The government is sliding into election mode and has given a prety clear committment not to increase duty during this Parliament. Mind you, there were some weasel words about 'so long as savings can be identified'.
If Osborne sticks to that then we'll go through an entire five year Parliament without a fuel duty increase for the first time probably in decades, as this Government is yet to increase fuel tax.
However, they did increase VAT to 20% which slapped another 4p on a litre and the Cameron Governments quiet contentment with Sterlings slide has seen a litre of petrol roughly 12p more expensive than when this Government came in.
There's no doubt they're all already in election mode, mind you the previous Labour Govt did increase fuel tax by 7p in the two years prior to the last election - during the recession, thanks Darling/Gordon. One of them was a 2p rise to cancel out their VAT rate cut. They wanted everything to be cheaper - except petrol.
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When VAT was temporarily lowered they increased the duty to compensate. When VAT was stuck back up they kept the new level of duty. A sneaky way to increase the duty.
Criminal enterprises hate losing income.
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Update for fuel price in my part of france - today:-
Diesel about £1.07/litre UL £1.25 -Going down!
Be good to get diesel down below a pound a litre like it was when we got here four years ago!
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Criminal enterprises hate losing income.
Quite, and people telling you to stop using state funded services are those really annoying people who believe you're either 100% for or against something. I noticed this being a big trend in the times of Tony Blair, if you questioned a policy then you were 100% against everything it could possibly be seen to stand for.
If you questioned the logic of NHS reform, then you were an evil bad person who wished death to sick children. We never get anywhere with debate like that.
My point has always been that the Government receives plenty of money to do what it needs to do. Just because they choose to waste it on EU membership fees, foreign aid wind farms in Africa shouldn't be our problem.
Edited by jamie745 on 26/10/2013 at 00:55
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Even though there is huge tax on the retail of road fuel, don't forget that a raft of additional taxes were introduced upstream too, so the whole thing and us are being taxed to the edge.
I also saw a programme on TV, that showed that a £4 bottle of wine only has 20p of wine in it as there is a £3.80 tax, duty and bottling overhead which has to be met before the actual wine is paid for. This is all paid out of income already taxed at 25%.
Yes, but. All of us expect the govt. (whichever one) to provide services for us out of taxation. Just now govt. expenditure exceeds income, so all we can do is argue about which of our vices is taxed too much. We could drink or smoke less, but we can't easily find an untaxed supplier of road fuel, so all we can do is moan that not enough tax is spent on road maintenance. Keep calm and carry on - or drive less?
And as I have pointed out before, a gallon of beer is several times as expensive as a gallon of fuel, and beer does not need to be drilled out of inhospitable places like the North Sea or the Arabian desert.
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Esso in Canterbury, Kent - £128.9 (next door to Asda at £128.7) per litre for normal unleaded
Edited by Smileyman on 26/10/2013 at 00:26
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