Reply With QuotePost covid inflation here we go.
I normally get petrol at Asda on the way to work as it is the most convenient and cheapest, I'm pretty sure that last week it was £1.11 per litre, today it is £1.21, that's quite a jump, have the oil companies started recovering their losses.
Post covid inflation here we go.
I remember a time before I bought my electric ban (2015) when diesel had gone above £1.40/l.
It then came down to just below £1/l so £1.21 still seems quite cheap.
Around this time last year, I was paying £0.99ppl at Costco..
Oil price has risen, petrol prices go up again, no great surprise. As a shareholder in both Shell and BP I look forward to the share prices improving and ( more importantly) dividends getting back to previous levels.......many pension funds will share this sentiment too.
Originally Posted by walkerwek1958
I'm sure that people struggling financially wont share your sentiment.
Tough - If you want to own a car then be prepared to pay the running costs. The petrol just doesn't magic itself to appear in the pumps. Like everything else it has to be paid for.
The biggest price constituent is tax, this is money used for services and improves our society.
Wow. I'm alright Jack. There are people in society on low incomes, I'm sure you used to employ the like and look down on them with scorn, who rely on their cars to get to their jobs. Soaring fuel prices is crippling for those people. Not that I'd expect you to care. I suppose only if the cost of fuel affects the price of your next Rolex would you look up from your Financial Times.
I'd suggest trying to get yourself some kind of social conscience but I know that isn't something you'd be remotely interested in.
But taxes haven't been increased yet.
This, MickP, you numpty.
VAT automatically increases as the basic price increases. I seem to remember that well over 70% of the retail price paid at the pump is tax.
If you can't afford it, buy less. Petrol pollutes the atmosphere so I am quite happy to tax heavily to force you to drive less. Clean air is more important than your wallet.
Both fuel duty and VAT are directly related to the price of the fuel, neither of these have increased to my knowledge, have I missed something?
It's simple, if you think the petrol price is to high, buy a bicycle. It's a market, they charge as much as they can and you want to pay as little as you can, the market eventually levels out, it may not be perfect but it works.
I thought the Duty was per unit volume, while VAT is based on the base-cost + Duty.
I was surprised that when consumption and oil price plummeted due to Covid/lockdown last April - that the government didn't increase the duty to bring the cost/litre back to pre-collapse prices. There must have been a huge collapse in revenues in that period.
[a quick google]: UK fuel duty is currently 57.95 pence per litre for petrol and diesel.
Agreed, it dipped below a pound a litre at my local Sainsburys, too.
It has increased, but I'm not sure it's "Gone through the roof", fuel prices are very volatile (I paid £1.28 yesterday for Super Unleaded - Yes, a big increase, but under a Pound - for regular unleaded - was unusually cheap).
Judging from the huge number of cars on the road at the moment, compared to 11 months ago, it's not a big surprise that prices are up again.
M
Breitling Cosmonaute 809 - What's not to like?
There was a significant dip at the start of the pandemic and there has been a slow recovery. Average prices are still lower than they were at the start of 2020.
https://www.racfoundation.org/data/u...ices-over-time
Let's be clear, petrol prices are only increasing to where they were in the quite recent past and there's no way the oil companies are making huge profits by this. Rightly or wrongly the UK raises tax revenue from motor fuel and it could be argued that its disproportionately high, but if the revenue wasn`t raised this way it would be raised elsewhere. For many years I railed against high petrol prices, but now I see it as part of the bigger picture.
My comment regarding pension funds was to illustrate that many people have an indirect stake in the oil companies. Shell and BP have traditionally been good solid dividend payers and that's what pension funds need.
The aspect of UK taxation on personal transport that I disagree with is road tax. Penalising so-called polluting cars that use more fuel is a double whammy, by virtue of the fact that they use more fuel the owner is already paying more tax and if the car only does a low mileage it isn`t causing much pollution, is it?
I`ve always felt it was unfair to tax people heavily on travel to and from their place of work, in many cases a car is the only viable option and the days of people living within walking distance of their jobs are long gone. Ideally, everyone should be allowed a certain amount of cheap tax-free fuel to cover their journey to work and back, the clean air brigade will howl at this suggestion but the fact is that for many people public transport simply isn`t viable.
That's my final comment on this topic, petrol prices are something I can`t do anything about, I understand the issues and I`ll settle for that.
It also pays for Trident and other things which a large proportion of the populace disagree with.
Politicians always maintain that "This increase in tax will help pay for hospitals, schools and fluffy bunnies" - they never mention the more divisive recipients.
Think there might be vat on top of that, don’t forget....
Re-read what I wrote
Now I have retired I will not be filling the government coffers with fuel tax. My wife’s car goes back off lease next month and we will manage with my car which incidentally I filled up the first week of December and to date still has half a tank. I will still have the TR6 which petrol wise I shall not worry about average £15 a month
Won’t get far for £15 once the sun starts shining........TR6 likes a drink, mine did between 20 and 27mpg depending on length of runs etc.
Averaging out over the year for 5 months hardly use a drop so Spring and Summer months £40. Round town it’s about 18 to 20 on a run max about 30mpg
Don’t worry I buy enough. Only spent £2014 on fuel last week for the runs I was doing and there are 19 of us spending about the same every week.
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Just filled up at Sainsbury's, Darlington @ £1.19 per litre. Lowest during the pandemic was £1.11 I've seen.
but...but...but....you spend half your life in Spain if I recall ??
Oh I see, you want the services and improved society to all goody goody and nice for when you jet back here...?
Wouldn't be too sure about that! An awful lot of funds are "decarbonising" their portfolios and going green!
https://www.professionalpensions.com...rgy-investment
"Government-backed auto-enrolment provider Nest has partnered with Octopus Renewables in a bid to increase investment in clean energy infrastructure.
The new partnership - announced on Saturday (13 March) - will see £250m committed across the UK and Europe this year as Nest builds up to its goal of £1.4bn by 2030."
Color me confused with them comments
first sentence refers to revenue since covid crashed the price of oil
second sentence refers to revenue and dividends in normal years (still not without hiccups).
That is the way I read it - anyway.
People like to use the "Huge profits" pronouncement for whatever industry is flavour of the month...........
Big Oil? Then buy a load of shares- free money
Big Pharma? Then buy a load of shares - free money.
No-one actually sees the huge 'speculative investments' these two industries make.
I’ve noticed ASDA fuel prices jumping recently too. I’m starting to wonder whether it has anything to do with the recent buyout deal that left ASDA in the ownership of the guys who also run Euro Garages filling stations.
Do you drive a tank?Don’t worry I buy enough. Only spent £2014 on fuel last week for the runs I was doing and there are 19 of us spending about the same every week
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Just guessing here but I’d say a man of Micks means has probably paid his fair share of tax over the years working here in the U.K.
Don’t hate him cos you ain’t him.
Blah Blah Blah ...This is G&D - take it to the Pit
Filled up tonight
£1.27.9 for unleaded
extra 2p for diesel
Getting expensive again.
Buy something that does 60+ to the gallon .....where are these people driving anyway ?
Nope just a 13 litre T cab Renault?. Well it’s actually a Volvo in drag they are the same underneath.
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60mpg! I have a 2l Honda that averages approx 20mpg, if I drove it to get 25 it would very boring, on a track day single figures are possible, you pays your money and makes your choice.
This is how it works in the UK.
When the price of Oil goes up a little bit, the price at the pump jumps up and they sprout a load of rubbish about how oil just went up.
When the price of Oil takes a massive nose dive to a fraction of where it used to be the price at the pump barely goes down.
Absolute cheating swines.
If increased fuel prices encourages us all to drive less, then that's good for our children who have to breath the pollution we create.
Many people have no choice and have to use their car to get to work, drop kids off etc. The oil companies and energy companies are despicable profiteers.
No idea what petrol or diesel costs.
Filled up 5 times since last March including a trip to Wales and a handful of 2 hour/100 mile round trips elsewhere. Would normally fill up every 4-6 weeks.
Trying to get my wife to downsize the car as we don't really use it she's not keen.
The rocket and feather effect.
I never look at the price of diesel but did the other week and I think it was 129 something. I fill to the brim and the price varies from £50ish to £60ish. But as a tank lasts a month I tend to just ignore the fact. With the pandemic, a tank lasts possibly four months. I may have find a cheaper station in future.
It doesn't encourage us to drive less though Mick, it merely encourages us to moan more...
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