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Petrol Prices


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#106 Dan

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Posted 03 February 2015 - 07:11 AM

The high price of oil has been causing runaway inflation, making business uncompetitive and causing job losses in the rest of the country for several years now. Oil has come down, inflation has come down. Businesses all over the country are showing more profit than they have in years. Companies are investing in themselves, giving pay rises all over the place and unemployment nationwide has fallen dramatically. All because companies aren't paying a huge chunk of their turnover to oil barons. I know it's harsh, but tough. If North Sea oil is uncompetitive it will suffer, but ultimately it's a finite resource and even if they have to cut back production right now all that means is later on they will stil have oil when others have run out. Then they can charge what they like. The disgusting price fixing in the whole oil industry should be illegal, it would be in any other business.

#107 Cooperman

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Posted 04 February 2015 - 09:18 PM

Oil has gone up again by a further $5 per barrel.

Like gold, oil is a global commodity, so the 'spot' price is what the refiners have to pay for it.

It is the tax which makes it so expensive.


Edited by Cooperman, 04 February 2015 - 09:20 PM.


#108 Dan

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Posted 04 February 2015 - 09:32 PM

True but that mostly effects fuel, not oil, although that is what we are talking about here obviously. And it's a set amount per litre rather than a percentage so the amount the government add is always the same (at least in the UK), so other than at budget time when the government change the rate any price fluctuations are purely down to the supplier price.

#109 Carlos W

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Posted 04 February 2015 - 09:43 PM

 And it's a set amount per litre rather than a percentage so the amount the government add is always the same (at least in the UK), 

 

What about VAT? That's a percentage.



#110 Cooperman

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Posted 04 February 2015 - 11:44 PM

My gliding club buys a lot of 'red' diesel and the price has gone down by a lot. We were paying around 72 p per litre back in Summer and the new lot we just bought was around 56p per litre. As we buy 1500 litres at a time it is a significant reduction. We do go for competitive quotations and there are differences between suppliers.



#111 Carlos W

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Posted 05 February 2015 - 11:42 AM

 

 And it's a set amount per litre rather than a percentage so the amount the government add is always the same (at least in the UK), 

 

What about VAT? That's a percentage.

 

 

Strange, I got a notification about this being quoted, which has now disappeared. 



#112 Dan

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Posted 05 February 2015 - 02:07 PM

Yes I posted something which actually didn't make much sense so I got rid of it. Suffice to say, yes you are right. There is VAT.




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