Thursday, March 15, 2012

1. If you're wondering why pump prices are up this week blame it on the US. Strong economic data from the Fed has rallied the dollar and since everybody pays for crude with the greenback oil suddenly got more expensive. 


This is what happens with a commodity vulnerable to every ebb and flow of so many different economic and geopolitical factors. Oil has actually gone down a touch in the last day but the fall was quickly eclipsed by the stronger value of the dollar.


Click here to email your MP to put pressure on George Osborne for a cut in Fuel Duty in March 21st Budget

2. And if America's economic recovery continues that's going to push prices further and analysts are saying that 2012 will see the highest price ever for crude at $150 a barrel.

All of which makes FairFuel's constant calls for a duty cut absolutely right. Ignore these obvious financial indicators and the UK will sleep-walk into a period of economic decline and more recession.



3. I've said this before, but as we approach the budget it needs to be stridently repeated. The cost of oil has passed the stage where the current Treasury fuel duty model in the UK is sustainable and it now represents one of the greatest single threats to this country's economy.

Manage, understand and control this corrosive tax before it pushes UK businesses and families over the precipice. And start by making an announcement in this budget that fuel duty will be going down, not up. Mr Osborne, this is a financial imperative that won't make you look weak - it'll make you long strong. The global financial markets will respect your sage judgement. Trust me.





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[ posted by pauline ann tomalin, 15.03.12 19:31 ]

Please, for everybody - cut the price of petrol.

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[ posted by Fred, 15.03.12 22:02 ]

Totally agree that something needs to be done now, if Osborne doesn't cut fuel duty then he can start looking for another job because the UK motorist has more than had enough. We're already at tipping point, most people are in fuel poverty and got little if no expendible income, resulting in a crumbling economy. Some are already taking to the streets and refineries to protest, however as a collective bargaining group we need to keep pushing and pushing, it may seem as if not much is getting done at the moment but we must never give up.

Lest Osborne forgets, us motorists are also voters too, and we never forget. Just ask the previous government, for which the constant fuel duty rises and bringing back the fuel price escalator, initiated by that anti-motorist brigadeer Alistair Darling was one contributing factor to Labour's downfall. Osborne of course has told two bare-faced lies about his actions on fuel duty, who remembers in 2008 at the height of the credit crunch that his fuel regulator would cut 5p off a litre straight away had the Tories been in power at the time. Low and behold the oil price dropped off a cliff (see below) and Darling then stuck 2p a litre on fuel duty at every possible opportunity, and then a few more pence at different stages thereafter. He, along with Brown and Clarke before him were the real villains of this fuel duty mess we're in, but Osborne needs to avoid joining that group and bloody well listen. And there's number two - the fair fuel stabiliser that he promised in the run up to the General Election - WE'RE STILL WAITING FOR IT TO BE INTRODUCED!

Anyway I did read on a few news websites that the oil producing nations (OPEC et all) are involved in talks about the price of oil and the general concensus is that it is too high. Their fear is that if the price of oil climbs towards the record levels, there will be a repeat of the big drop just like in 2008, when it fell from the record $147 down to approx $35 per barrel. It could well happen again and history dictates that it's a possiblity, after previous cases in 1956 (Suez crisis), 1973 (Middle East crisis) and 1991 (Gulf War). Who can ever forget Goldman Sachs and that Russian guy from Gazprom stating that oil was going to hit $200 per barrel? Now I doubt the price will ever get as low as $30 ever again but some analysts (tellingly, not from banks!) predict oil could drop below $70 by the end of the year as the recession bites yet again. OPEC and the like are well aware of this possibility and seem to think $100 is a fair price, but even that is unsustainable for the global economy, and definitely far too high for us... we'd be looking at 125p per litre for petrol at that rate if duty remained the same.

Even if oil did drop to double figures per barrel, we still need to keep the pressure on. A reduction of duty to match the average of the rest of Europe (approx 30-35p duty) would be a start, but we need to keep the pressure on until fuel costs in this country are reduced to a sensible level which is sustainable for the people and the economy. By the way the US may be experiencing a recovery but soon the reality will kick in for them too, talk of gas exceeding $4 per gallon (it already has done in some states) will cause economic turmoil and has already been a big talking point in US politics, particularly with the election campaigns.

FIGHT THE POWER!!!!!!!!!!!

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[ posted by Jeni Kisbey, 15.03.12 22:30 ]

Agreed

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[ posted by Trish, 16.03.12 10:08 ]

Any more fuel rises and i will be out of work - I simply CANNOT AFFORD to put fuel in my car and where I work is totally inaccessible by public transport.

So what is better Mr Osborne - A cut in fuel duty or a rise in people on the dole!!!!!!!!!

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[ posted by julie leggett, 16.03.12 11:14 ]

It is an absolute disgrace the cost of fuel! What is going on! People including me will soon be absolutely up in arms about what is being charged. If they want more cars off the road, this is not the way to do it! I'm hacked off with like thousands of others.

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[ posted by Lisa Heywood, 16.03.12 13:34 ]

It's ridiculous that it is costing people more to get to work that they earn per hour! The government are taking a very short sighted approach to this, my work place is inaccessible by public transport, so how do they plan to deal with this common problem.

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[ posted by john mayberry, 16.03.12 15:22 ]

ROLL ON INDEPENDENCE FOR SCOTLAND SO THAT WE CAN GET AWAY FROM THIS TORY ENGLISH GOVT AND MAYBE WE WILL BE ABLE TO RUN OUR LIVES WITHOUT FEAR OF WHAT THEY ARE GOING TO PULL OUT THE HAT NEXT

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[ posted by Fred, 16.03.12 22:23 ]

So much for my comment yesterday about the oil cartel. No sooner was it announced that Obama and Cameron had discussions about releasing oil reserve stock to ease the pressure on us motorists that the oil market spivs pushed the oil price back to $126 again, a $3 rise after two days of falls. I bet its a repeat of what happened last September, when the US and UK both released oil reserves only for the fat cat bankers (your Goldman Sachs and JPMorgan's of this world) to buy it all up and store it on tankers and rake in the cash.

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[ posted by Jennifer Taylor, 17.03.12 08:09 ]

Fuel keeps going up, I wont be able to work or take my children out for the day which is rare.Do they not think road tax and car insurance cost's enough as it is without fuel hikes!!! only have a 1.6 8v engine a standard car, it still cost's me a fortune to run god knows what its doing to people with big family car's who have no choice or people with disabled children and elderly who cant get about on there own! FURIOUS I COULD GO ON!

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[ posted by Fred, 20.03.12 13:17 ]

The price of oil has dropped almost $2 today, no doubt as a result of the Chinese government's announcement that it will increase fuel prices, which in turn could well have a knock-on effect on demand. Also the pound has gained against the dollar, albeit slightly. So where is the couple of pence going to be knocked off, forecourt owners?

Oh wait...

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[ posted by gary hulme, 03.04.12 09:38 ]

we were looking to recruit two more drivers to take on extra work from our existing customers but due to the ever increasing fuel rises we have decided to stay as we are and not take the extra work nor the drivers so thats two unemployed people that arent going to get a chance at making a living,we are even planning ahead and think that if these prices keep rising we may well make some redundancies and start using owner drivers,well done to the goverment for making this country worse than ever and congratulations to them for deceiving the nation and encouraging the recent panic buying that will have boosted there taxes no end with the amount of fuel they got people to buy on the back of their lies.

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[ posted by Olly, 03.04.12 09:40 ]

I am appalled at the continual rise in fuel prices. I live in a rural location and my car is my lifeline. I currently do voluntary work in primary schools in the current governments policy of the BIg Society encouraging us all to offer our services for nothing. However I will have to give this up as I can no longer afford the fuel to travel.
I recently returned from a weeks holiday in Europe and fuel prices are lower. This ever increasing hike in fuel prices is having a catastrophic and damaging effect on our lives.
I also condemn the petrol station owners who have hiked the price up recently due to the limited supplies as a knock on effect of the governments very ill advised comments about storing fuel in jerry cans! I can't believe they have such lack of wisdom...they should think before giving "advice" to the public. Incompetent isn't the word and I used to support the conservative party...until now!

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[ posted by C Baker, 03.04.12 10:01 ]

I have a caravan on the coast and going there on a Friday evenings when I finish work is the only way I can get to relax. Unfortunately due to the greediness of this government I can only go now every three weeks (every two if I economise elsewhere. I think it is appalling that the fat cats get richer by putting uneccessary high taxes on the likes of fuel to stop people having some kind of pleasure in life. I think this govoernment need to take the blinkers of their eyes and speak to everday working class people like me who work hard for a living but suffer the most. As for the petrol stations putting the prices up to cash in on the fuel shortage situation it would serve them right if people boycotted them once it is all sorted.

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[ posted by Peter Andrews, 03.04.12 11:21 ]

I have supported this campaign since it 1st took off and admire the stamina and effort put in by the founder members and all who contribute.
I wanted to add my little bit to this horror story of rising costs and this is a true story that I witnessed on Saturday Evening.

I live in Morden Surrey and I went out at 9pm on Saturday evening to get some diesel. I would like to state that I needed fuel as I travel twice a week to a hospital 30 miles away. I was not one of the millions that took to the pumps because Tory minister said go top up even if you are 2/3rds full.
I knew roughly what the prices were and that was an average 1.49 a litre for derv. I travelled South from the Rose Hill roundabout on the A217 towards Reigate Hill junction of M25. To my knowledge all the garages along this route are franchised out. I could not believe that they had all hiked the price up to on average £1.62 per litre! £1.63 being the highest which was the Shell garage at Burgh Heath traffic lights, junction of A217. The majority were BP garages. Surely this is blatant profiteering? You might say blank these garages, but what if they are the only ones who have fuel. I have to have my treatment. On the flip side I would praise Sainsbury's at North Cheam and Tesco on the Sutton bypass who did not feel the need to rip us off. Peter Andrews 03/04/2012

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[ posted by John Shepherd, 03.04.12 11:49 ]

This current administration is at odds within over a number of issues. It would appear that David Cameron is doing his best to Cross Swords with George Osborne over a number of issues and in effect undermine him,they are being heavily suppressed at present. It is looking very like the Tony/Gordon scenario all over again. We will loose out Big Style in the long run.
Why are they so apparently blind and stupidly insensitive to the fact that they are ultimately going to drive the country onto its knees and into a Quicksand Pit.
The answer is not in increase increase increase because this will ultimately result in massive job losses accelerated by the very taxes that are being so glibly implemented.
The countries leisure markets for the greater part rely on people being mobile and that is grinding to a slow pace with not least of all the costs of owning and using touring caravans. Everything that is moved around the countries shops and supermarkets is dependant upon road transport
Th

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[ posted by Jennifer Young, 03.04.12 19:31 ]

I work as a domicillary carer worker, like hundreds of others. This means that we are driving around to clients houses all of the time. Therefore we use a lot of petrol. It is now far to expensive to work, as a lot of our wages go to getting petrol. Some people have left for this reason as it is not cost effective to work in this industry. I do not want to as I love my job, but I am using about £25 -£30 per week, and don't get paid that much. Our type of job seems to get forgotten when people talk about this, it seems to be about how much extra it is going to cost people that are lucky enough to be going away. This is our job, we should go to work to earn money not spend a lot of it on petrol.

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[ posted by Nick, 04.04.12 08:47 ]

Why is our road fund licence tax and fuel duty, not being spent on our roads and Infrastructure.
Why has no one been able to make the treasury use this money where it was collected for????.
Where I live your teeth are constanly being jarred by potholes, patched repairs and broken speed humps.
But we have new cycle tracks being laid, sign posted or refurbished.
Why are cyclist not being asked to pay a token tax and more importantly why are cyclist not paying for road insurance.
I was cut up yesterday by two cyclists going thru red lights at a busy junction.
NC

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[ posted by Steve Norris, 04.04.12 16:06 ]

We all know fuel tax is a rip off but also you have to understand how selfish the everyday person is, your average person doesn’t have a care about Mr Joe Blogs out there on the street. All they are worried about is themselves and how to get the fuel for their car, if it was that every one, and I mean every one stopped taking the kids to school in the car, no lets go for broke if everyone took their car off the road for one month, if they walked, used a bike or got the bus just stop buying fuel for the car for one month. The government would be in a mess no revenue. No fuel tax. No VAT and the fuel companies would still have to buy all that crude they had committed to but with what they would have no revenue either this could make them all sit up and think. Could bankrupt the treasure, but no this is only a fairy tale the average British person is to selfish to all get together to accomplish something they only think about them selves.

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