Petrol Prices
19:54 17-10-08
Well a year a ago yesterday I passed my driving test. (and have only driven once since) Just thought it was worth mentioning in passing.I was reading BBC news the other day, no doubt in an attempt to avoid doing any work. And there was a story about how supermarkets are pushing petrol below £1 a litre Now this all sounds very good, (even when you get 100mpg) however hardly worthy of a blog. However what was far more interesting (I thought) was the fact that the story tells us that in July a barrel of oil was $147 and its now less than $80. We then get told that petrol firms are passing this price drop onto customers.
We often hear how much of fuel price is tax, and this is true. However its a percentage of the overall price. So if the price of crude has fallen by about 45% how comes we haven't also seen a 45% cut in the price we pay. We all notice how quickly prices go up when crude goes up, but they never fall dramatically.
I believe that government have a lot to answer for, and yes there is a debate as to how much tax should be on fuel. However that doesn't get past the point that petrol companies are making loads of money of the higher prices.
rants
Comments
Tim Ramage
21:45 18-10-08
Hey Gareth!!Completely agree, and I thought the same thing when I read that in the papers the other week...
Anyway, more to the point - I hope you're doing ok. You need to get on Facebook so we can keep in touch a little more!
- Tim.
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