Petrol Prices in the UK - Why?

Try this and the mind boggles

Jesus Martin. Jesus.

Exxon, Shell and BP seem to be doing very well these days....

Anyone getting paranoid?

What became of the tax income derived form the North Sea Oil we have extracted over the past twenty or so years?
I sure hope we didn't just piss in all up against the wall.

Devil's Advocate mode on...

I'm sure we'd all love fuel taxes to be lower - so which tax(es) would we like to see raised instead then? One way or another the government will get their hand on the revenue they need/want so if it's not fuel tax it will only be something else instead.

At least through fuel taxes you pay for what you use. If Mr Tinycock wants to burn off petrol at 10mpg in his V8 4WD penismobile he pays more tax than Mr Commiepinko-sandalwearer in a 60mpg Smart car. Seems eminently reasonable to me.

And while I've got some sympathy with the 'transport industry' argument, I'd have more sympathy for their argument if they stopped spilling diesel all over the roads.

Steve.

If the Government were to reduce the fuel levy, would there be more thought put into spending countless billions of pounds on warfare ?

We all hear that the NHS, Pensions, Care Systems are all needing cash that is not forthcoming but the minute a situation develops overseas - BANG, the calculator goes out the window.

I think we should not be debating what alternative tax to increase but actually debate whether the country can operate properly without relying on aadditional input as and when the Government figures don't add up.

From
The AA

you can get get reports that show the price of fuel aross the UK and in other countries - you will need to download Word docs to see the details

The problem with putting so much tax on fuel instead of on other things is that the adverse effects of volatility of the oil market on our economy are then magnified. The increase in fuel costs to both consumers and businesses alike could well jeapardise the growth in the economy of the UK, and as a result, opportunist greed from this government may yet see revenues into the exchequer's coffers actually fall.

A solution would be to offset government revenues from North Sea oil production against fuel duty. Thus fuel duty could be reduced as the price of oil rises without any loss to the Treasury. I suspect that increases in fuel duty have been simply put on hold and there will be hikes with a vengeance if the oil price ever falls. Meanwhile the government can say,

"blame global markets and not us!"

Am I beinfg simplistic in suggesting that our North Sea Oil resources could be used to actually stabilise our economy?

Anyone want to start another blockade?

I'm enjoying the increased price of fuel. It is just what the "alternatives" market needs. All those Hummers humming to themselves in their locked garages brings a smile every time I hop on my bike.

How long can the US go on subsidising its commercial exploitation of the planet by massively underpricing domestic fuel prices? Methinks the plughole beckons as China and India compete for diminishing resources.

I like the irony of Bush getting burnt on oil prices. Lets add oil to the flames!

quote:

Originally posted by Roy T:
What became of the tax income derived form the North Sea Oil we have extracted over the past twenty or so years?
I sure hope we didn't just piss in all up against the wall.

Remember the '80s? Thatcher. Unemployment. Tax cuts.

It's pissed away. Norway managed it properly, we spent it.




Stephen

I'm with Nime. Genuine changes in energy use, conservation etc will only come with rising fuel prices. Fuel should be more expensive globally to drive innovation and change. The increased costs should not go to line the energy companies (or Saudi Arabia'a) pockets though, it should be invested in appropriate technologies.

Bruce

The highest fuel price we saw this summer was 103.9p per litre for diesel up in the north west of Scotland. Not ideal at the 22mpg that our motorhome gets, but fortunately we didn't have to use that one.

To be honest with you though I begrudge the tax I pay on fuel I am glad that we don't have the huge car mentality that is present in the U.S.. If we did have lower fuel taxes then people would be less concerned about the efficiency of there cars and we would consume (waste?) more energy. The biggest contributor to the current high prices and volatility in oil markets is due to the high degree of paper trading and futures markets. When crude prices where effectively controlled by the oil majors there was a higher level of stability in pricing.

Of course until we all decide to change our consumption behaviour prices will keep rising, maybe sustained higher prices will give the US some incentive to be more energy efficient.

Matthew

... just returned from a trip to Houston, they are still driving their trucks!

Chaps. Don't worry, now that we have kicked some Iraqi butt the price of oil will drop dramatically.

Regards M.

quote:

Remember the '80s? Thatcher. Unemployment. Tax cuts.

It's pissed away. Norway managed it properly, we spent it.

Frown

Yes I do remember the 80s and iirc I was an aspiring Yuppie ejoying exotic curries, expensive champagnes and the company of many a sharp dressed women and this excess was financed by a sky high IT salary. But even I drew the line at spending my extra salary due to oil financed tax cuts on buying nationalised industries that we already owned and had already purchased by taxes many years ago

So now I do remember if only through a glass darkly that our tax income was pissed away.
How did Norway manage things?

quote:

How did Norway manage things?

By having high taxes, high fuel tax, high cost of living and working until they are 70 - from what I remember of my last business trip there.

quote:

Originally posted by Derek Wright:

quote:

How did Norway manage things?

By having high taxes, high fuel tax, high cost of living and working until they are 70 - from what I remember of my last business trip there.

And so much practically free, water-powered electricity generation it makes yer spit!

Looks like you are correct Derek.
How Norway has managed the oil revenues over the last 30 - 40 years

quote:

An English friend, who started work as a doctor here a few years ago, was shocked at the number of perfectly healthy octogenarians who came to see her.

"They come in," she complained, "just for a check-up and a prescription, and I rarely find anything wrong with them."

I wish we could say the same in the UK

One of the reasons for increasing petrol prices is that the capacity for the oil refineries is not sufficient for current demand.

This is restricing supply and therefore the price goes up.

Regards

PB

quote:

Originally posted by Matthew T:
... just returned from a trip to Houston, they are still driving their trucks!

Of course they are - as one of the top 10 fattest cities ("Super size me"), the drivers need the extra suspension headroom a truck'll give them so they can fit their fat arses in the metal pollution boxes.

quote:

Originally posted by domfjbrown:

quote:

Originally posted by Matthew T:
... just returned from a trip to Houston, they are still driving their trucks!

Of course they are - as one of the top 10 fattest cities ("Super size me"), the drivers need the extra suspension headroom a truck'll give them so they can fit their fat arses in the metal pollution boxes.

This seems just a trifle harsh!

I've complete a 3000 mile road trip across the Alps, Dolimites and south of France. I must say that the average price per litre in France, Germany, Belgium and Italy is at least £1.00 a litre, cheapest place was Switzerland at £0.75 per litre, so it's all the Western nations that are taxing fuel so highly, not just the UK.

G

If only the petrol tax went towards an integrated public transport system!! For example I'm leaving the country at the end of next month with my wife and have to get to Gatwick airport from Milton Keynes, cost of two of us on the train £46 + change of train as we have to be at airport at 06:30 latest - taxi to station £12 = £58. Taxi will take us from our front door to Gatwick for £65, comfort and not having to hump 4 suitcaes for an extra £7 - it's a no brainer.

If their were a greater differential in public transport prices then that would be better. But I think fuel will have to go up an awful lot more before a train journey looks economical!!

Tim

An integrated ticket from Barcelona airport to Lloret de Mar, some 40 miles up the coast cost €4.75 (£3.50) one way.

The ticket was valid for the following journey: Train to Barcelona Sants (main railway station) - 15 mins. Ten minute wait on the same platform for a train to Blanes - 1h 50 mins. Buses every half an hour from Blanes to Lloret - 15 mins. Total journey time of 2 hours 20 mins.

The above is roughly the equivalent of going from Milton Keynes to Gatwick via London.

I had to get to Manchester (well Macclesfield) last Friday.

Although I hadn't tried to book ages in advance (but it was four days prior), in order to travel to arrive at a reasonable working hour the fare was...

£184 !

You have to bless Virgin, don't you?
In fact I once flew to New York on Virgin for this price (four quid more to be precise) although that was in October 2001 right enough.

In the end I rescheduled the day and took the train arriving at noon, for a still far-from-jaw-dropping bargain £54.

And, of course, it was late!!!

If I had needed to be there for 9am I would have driven rather than spend just about two hundred quid (with tube fares to Euston etc) to get there. I think Tim is spot on.