Tuesday, August 11, 2015
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What do you mean we've not seen this for decades? It was below £1 in 2007. That's less than a decade
The low oil prices should be passed on to the consumer, they are quick enough to pass on the inflated prices.
The price of fuel may come down , but the Government will hike up the tax, the motorist won't see the benefit.
The last time fuel prices dipped below £1 at the pumps was 2009 following the spike in 2008.
Interesting piece, I am intrigued to see how the price/supply war between Saudi Arabia and the USA pans out. However, surely the conclusion of the article indicates that petrol prices reductions should be achieved (at least in part) by governments' reductions in duty, rather than seemingly destabilising attempts by the producers to push down the base price of oil?
the base price of fuel fluctuates but we never see any drops at all, we only ever see the rises. Oil costs 100 dollars a barrel, we see a rise, it drops to 80 dollars, no change in fuel prices for us. It goes up to 90 dollars and we see another rise in fuel prices. However, oil still costs less than the first time when it was 100 dollars, that second rise should never have happened because we are still paying for fuel based on oil being 100 dollars a barrel.
Perhaps the Government should be seen to do more about the prices at the pumps, and controlling them, that way it would take the focus off of them for charging to much tax on fuel in the first place. Unfortunately the ordinary driver gets hit in the pocket from both directions. The retailers rip us off with the help of the Government.
Yes, the retailers blame the governments taxes for their high prices and the government blames the retailer for the high prices.
In my view, the number one reason for the fuel prices being what they are is the fact that when oil goes up in price, so do pump prices. However, when oil goes down again, we see no change at the pumps. This trick of ever increasing prices is not limited to oil companies though, gas and electricity companies are among those who have been using the same trick to vastly increase their profits at the customers expense. It's a con trick that's been used by many companies for years.
I have just heard a report on BBC news this morning confirming that fuel producers are not passing on the benefits of dropping oil prices to the motorist. They are instead using these reductions to boost their profit margins. In the wider world, customers can simply stop buying or reduce the amount they buy on many products in protest, but as most of us have to buy petrol and diesel for our daily needs, it is difficult to use this strategy.
What really p's me off is the orca its of the fuel companies. I live in a rural area and the fuel price can vary as much as 6p a lire for diesel. Take for example the filling sataions on the A19 around the Northallerton area £112.9 but travel a few mile up,the road to,the same branded fuel and it six pence cheaper. Got into Northallerton itself two filling stations and they are charging the same as the A19 filling stations. Transport costs can't come into it as they all come from the same refinery just loaded into different branded tankers. Rip off Britain again.