Fuel prices

R

Reedster

Member
 Cornwall
Fuel companies are being investigated into price fixing.
Oh thats a shock and the government did not know......... Yeah!!!

http://www.bbc.co.uk/news/uk-politics-22540650
Check your costs
http://www.petrolprices.com/the-price-of-fuel.html

And to kick you while your down
You pay VAT tax on the duty part of the fuel ..... with taxed income :headbang:
 
I paid 129.9p per litre at a Morrison's in Weston-super-Mare yesterday. Couldn't believe I was paying less than 130p. As I am not working right now and paying all my own fuel costs I am realising exactly how expensive this exploding go-juice is...
 
Just been look here http://www.speedlimit.org.uk/petrolprices.html to see feul price when I passed test 40.2p per litre was average.
 
87p a litre when i passed in 2007! its shocking! cant believe they have been getting away with it for so long! scumbags
 
It's not the fuel companies that need investigated... it's the government... they take 61% ish of every litre of fuel sold... the retailer gets a further 3%, giving the company that takes all the risks in finding, getting, making and transporting the fuel 36%...

I have no issues with the fuel companies... plus, I have a private pension (like a lot of other people), so at some point, I'll be making money based on their share price... :wink:

Careful for what you wish...... :oops:

:thumbsup:
 
the cueball said:
It's not the fuel companies that need investigated... it's the government... they take 61% ish of every litre of fuel sold... the retailer gets a further 3%, giving the company that takes all the risks in finding, getting, making and transporting the fuel 36%...

I have no issues with the fuel companies... plus, I have a private pension (like a lot of other people), so at some point, I'll be making money based on their share price... :wink:

Careful for what you wish...... :oops:

:thumbsup:
Click to expand...
Well said

No disrespect intended with the following post.

Oil is a world traded commodity. So the basic unit of oil is the same cost in the UK as it is in the USA. In fact you guys should be at an advantage. As the oil is traded in dollars and the pound buys quite a lot of dollars The ONLY difference in price from the USA of $3.60 per US Gal. And the cost of fuel in the UK at $8.00 per US Gal. IS TAXES. Seems the fine people of England have never met a tax they didn't like.

Even the VAT seems a scam. Maybe I'm wrong as I don't fully understand the VAT system. But from what I have heard. If Aston Martin makes a car that they sell to the dealer for 100,000 pounds. VAT is paid on the full 100,000 pound amount. Even if the cost of manufacturing said car was 80,000 pounds. In addition to paying income tax on the 20k profit. Then when the end user buys the car. They pay VAT on the full amount. Say 150,000 pounds selling price. Not just on the amount that was untaxed over the already taxed 100,000 pound dealer cost. So the government has made 20% of 250,000 pounds from a car that sold for 150,000 pounds. So they magically made 20k appear out of thin air. Would this be correct? If so. Then why do you fine folks put up with it? And at that level of taxation. Why is England just as broke as the low tax USA.

Again. No disrespect intended. Just curious and perhaps a little perplexed. :scratchhead:
 
Sketchley said:
Just been look here http://www.speedlimit.org.uk/petrolprices.html to see feul price when I passed test 40.2p per litre was average.
Click to expand...
Chart doesn't go back far enough... God! that makes me feel old :lol:
 
I remember paying .20 US cents PER GALLON. While cruising around in my first car. A 1964 Chevelle Malibu SS in 1973.
 
bigdog said:
Even the VAT seems a scam. Maybe I'm wrong as I don't fully understand the VAT system. But from what I have heard. If Aston Martin makes a car that they sell to the dealer for 100,000 pounds. VAT is paid on the full 100,000 pound amount. Even if the cost of manufacturing said car was 80,000 pounds. In addition to paying income tax on the 20k profit. Then when the end user buys the car. They pay VAT on the full amount. Say 150,000 pounds selling price. Not just on the amount that was untaxed over the already taxed 100,000 pound dealer cost. So the government has made 20% of 250,000 pounds from a car that sold for 150,000 pounds. So they magically made 20k appear out of thin air. Would this be correct? If so. Then why do you fine folks put up with it? And at that level of taxation. Why is England just as broke as the low tax USA.

Again. No disrespect intended. Just curious and perhaps a little perplexed. :scratchhead:
Click to expand...

VAT doesn't work like that. It was introduced back in 1973 and replaced purchase tax. Taking your example Aston Martin add VAT to their basic trade price which the dealer pays and then reclaims back from the HMRC. The dealer then adds VAT on his base price to the end customer and passes to the HMRC. VAT is a bit of a merry go round between registered companies. The end customer (you and I) who cannot reclaim VAT incurs the tax. Probably an accountant can explain better. :wink:
 
You can read more information about this from the FairFuelUK and also sign up to their petition to their renewed call for the UK authorities to investigate.
 
Lillywhite said:
bigdog said:
Even the VAT seems a scam. Maybe I'm wrong as I don't fully understand the VAT system. But from what I have heard. If Aston Martin makes a car that they sell to the dealer for 100,000 pounds. VAT is paid on the full 100,000 pound amount. Even if the cost of manufacturing said car was 80,000 pounds. In addition to paying income tax on the 20k profit. Then when the end user buys the car. They pay VAT on the full amount. Say 150,000 pounds selling price. Not just on the amount that was untaxed over the already taxed 100,000 pound dealer cost. So the government has made 20% of 250,000 pounds from a car that sold for 150,000 pounds. So they magically made 20k appear out of thin air. Would this be correct? If so. Then why do you fine folks put up with it? And at that level of taxation. Why is England just as broke as the low tax USA.

Again. No disrespect intended. Just curious and perhaps a little perplexed. :scratchhead:
Click to expand...

VAT doesn't work like that. It was introduced back in 1973 and replaced purchase tax. Taking your example Aston Martin add VAT to their basic trade price which the dealer pays and then reclaims back from the HMRC. The dealer then adds VAT on his base price to the end customer and passes to the HMRC. VAT is a bit of a merry go round between registered companies. The end customer (you and I) who cannot reclaim VAT incurs the tax. Probably an accountant can explain better. :wink:
Click to expand...

Thanks for the clarification.
 
5 star Shell 101 octane was 4 shillings and 11 pennys per GALLON when I started driving ......thats 25p in new money :cry:
 
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