Petrol duty and VAT rises to increase price of fuel Petrol pump Prices are set to ris

[4me2]

Petrol duty and VAT rises to increase price of fuel





Prices are set to rise further in January



Looming petrol duty and VAT rises are to push record petrol prices higher.
On New Year's Day, a government fuel duty increase put another 0.76p on to both petrol and diesel. And on 4 January, the rise in VAT from 17.5% to 20% will mean another price rise.
The AA estimates that the two increases will add around 3.5p to the cost of a litre of both petrol and diesel.
The average price of unleaded petrol in the UK stands at 124.16p, according to Experian Catalist.
This time last year, petrol was at 107.74p a litre and diesel at 109.46p.
Diesel currently costs, on average, 128.35p a litre - some five pence below its record high of July 2008.



'Tempting'

The AA estimated that in total, motorists are spending almost £10m more a day on petrol than this time a year ago.
And the RAC Foundation pointed out that fuel tax would rise even further in April.









"Given that each penny increase in fuel duty raises about an extra £500 million for the Exchequer, it is easy to see why the chancellor is tempted to hike rates," said the foundation's director, Professor Stephen Glaister.
"But if the nation's 34 million motorists are pushed too far they will drive less and the Treasury could actually see their tax take fall.
"At the election there was much talk about a fuel duty stabiliser. Drivers will rightly be wondering what happened to that idea."
The Freight Transport Association (FTA) said lorry drivers in 2010 had been paying an average of £3,800 more on fuel than in 2009.
It said the 1 January rise alone would add another £1,200 to annual fuel bills.
"Diesel is not an optional extra for industry. It is essential to keep shops stocked and businesses supplied with materials," said Simon Chapman, the FTA's chief economist.
The head of a haulage company based in Stoke, Barry Proctor, said the rises were unfair.
"This is a huge blow to the haulage industry. We've had horrendous weather conditions over the last few weeks, but yet again this industry has managed to deliver Christmas, unlike an awful lot of other industries that have failed their customers miserably.
"And instead of a pat on the back from George Osborne, it's another body blow."


http://www.bbc.co.uk/news/business-12098981

[ilscuro]

Prices for fuel and everything else keep rising, and yet my wage is still the same, as i've not had a pay rise for 4 years, and i bet i'm not alone, fookin greedy government twats.

[mufc1]

I was looking at the Diesal prices a few weeks back going into manchester £1.16 was the cheapest passed my garage the other day near me and could,nt believe it had jumped so quick £1.27.99 it was a BP Garage thou.

[4me2]

'Double whammy' increase in fuel duty and VAT set to hit motorists hard

By Michael Savage

Saturday, 1 January 2011


Motorists will see the cost of running their cars rise steeply this week as a double increase in the price of petrol is set to add hundreds of pounds to annual fuel bills.
A planned rise in fuel duty will see another 0.76p placed on to both petrol and diesel from today, while the 2.5 per cent rise in VAT from Tuesday will push prices at the pumps to near record levels.
The AA predicted yesterday that the two measures would see around 3.5p added to the cost of a litre in less than a week. A further fuel duty rise is scheduled in April.

The average price of petrol went up more than 16p a litre over the course of this year, despite the recession. According to Experian Catalist, the current average pump price stands at 124.16p a litre. Car users are spending almost £10m more on fuel than they were 12 months ago, the AA said.
However, those Government-imposed rises could soon be compounded by a spike in the price of oil. Global crude prices, which are already topping $90 a barrel once again, are expected to increase steadily amid hopes that global economic demand is recovering from the recession.

The rise in fuel costs on the roads comes as rail users are also seeing an increase in the cost of season tickets, some of which will see a jump of more than 10 per cent from Sunday.
"Given that each penny increase in fuel duty raises about an extra £500m for the Exchequer, it is easy to see why the Chancellor is tempted to hike rates," said Professor Stephen Glaister, director of the RAC Foundation. "But if the nation's 34 million motorists are pushed too far they will drive less and the Treasury could see their tax take fall." Road hauliers also attacked the double-whammy increase. The Freight Transport Association (FTA) said lorry drivers would be paying another £1,200 in annual fuel bills because of today's duty increase alone.
"Diesel is not an optional extra for industry," said Simon Chapman, the FTA's chief economist. "It is essential to keep shops stocked and businesses supplied with materials.
"Rises in fuel commodity prices have already left operators facing diesel prices 9p per litre higher than a year ago, adding £3,800 per year to the bill of running an articulated truck."

Philip Hammond, the Transport Secretary, has stated he hopes to make 2011 the year of the electric car. His flagship scheme to hand out grants of up to £5,000 to those buying one of the vehicles officially begins today. He has earmarked £43m for the fund. Nine different models are eligible for the subsidy, but buyers will still have to find more than £20,000.
Some in the industry have questioned the timing of the scheme, arguing the infrastructure necessary to make the cars viable, such as a network of charge points, is not yet in place.
"Before the Government takes steps to incentivise the purchase of electric cars, it first needs to address the issues which stand in the way of their future success," said Steve Bratt, group chief executive of the Electrical Contractors' Association. "If we're not careful, we could see a re-run of battery cars, which became an object of media and popular ridicule during the 1980s."


http://www.independent.co.uk/news/uk...d-2173357.html

[Realist]

When I first started with Sky 2 years ago and I first filled my van up with diesel it cost £60ish, now its costing more like £90 and its going up again.

Lucky I dont pay for it but not the point and it shows how huch its gone up in 2 years.

Disgrace and shocking and Im pissed off to the teeth of this country.

[tigro]

Petrol will never ever go down...FACT

Although the government have put more duty on petrol, its actually the oil giants who are the greedy twats, if i remember oil is still quite low in price per barrol? (proove me wrong)

BP making billions of profit per year, its these companys who should made to lower the prices, they have us by the short and curleys im afraid, im getting a pedal bike

Wont be long before petrol is £1.50 litre, i say end of 2011 and then onto £2 per litre, people need to stand up to BP like we did in 2000 I think it was, only way they will listen, thats the problem with us English, we just sit back and take the shit

[MsDG]

Petrol will never ever go down...FACT

I hate to piss all over your FACT, but i remember clearly the 1st few months of 2008 when Diesel was about £1.27. I know this because i was doing mega miles contracting. In fact just after i decided "fuck this" and jacked it in, the prices dropped. They have since been in the naughty's / teen's for almost 3 years!

[tigro]

I hate to piss all over your FACT, but i remember clearly the 1st few months of 2008 when Diesel was about £1.27. I know this because i was doing mega miles contracting. In fact just after i decided "fuck this" and jacked it in, the prices dropped. They have since been in the naughty's / teen's for almost 3 years!

That was 3 years ago im talking about now, yes petrol may go down a few pennies (not very often) but it will never go down to £1 a litre or less

[Bald Bouncer]

Watching this on the BBC news and reading all the reports yet not a mention that crude is about $90 a barrel yet has been much higher with lower pump prices peaking I believe around $135 a barrel in 2008, I don't claim to know all the details of exchange rates at the time, how the duty has affected the difference etc etc but no mention or even analysis of this stinks.

[mysterym]

Watching this on the BBC news and reading all the reports yet not a mention that crude is about $90 a barrel yet has been much higher with lower pump prices peaking I believe around $135 a barrel in 2008, I don't claim to know all the details of exchange rates at the time, how the duty has affected the difference etc etc but no mention or even analysis of this stinks.

Agreed it has to have a bearing, exchange rates can't be helping the cost of fuel at the moment.

[Realist]

Yeh but it looks like to me the goverment has been putting it up and up when barrel prices was lower but keeping it high and reeping the extra cream.

[hoponbaby]

As it's a worldwide commodity how would you plan to make them reduce their prices?

Even if they we're to give it away just the duty + vat would mean 70p a litre. At £1.30 the oil companies are getting around 50p to find, extract, refine, distribute etc etc.

With the increase in vat alerady adding to the tax take then going through with the duty increase as well is a disgrace imo. It is one that they can get away with though as many people have no real alternatives but to drive.

[Bald Bouncer]

Yes I'm sure there are a multitude of additional factors but would as it's relevant like to see an analysis of it I'm sure it wouldn't be too hard especially as they are constantly posting obscene profits while the people are being squeezed.

Just so no one gets the wrong idea I am in no way sticking up for the government here they are all to a man/woman complete and utter puss sucking shitfucks.

[MsDG]

That was 3 years ago im talking about now, yes petrol may go down a few pennies (not very often) but it will never go down to £1 a litre or less

Eh? Have you ever considered a career in the "No more boom and bust" Labour party?

You clearly said "Petrol will never ever go down...FACT"

You've now made a 2nd statement that even contradicts your original statement!

[pumpman]

the fuel price rises we are seeing just now are approx $90 per barrel, note in 2008 it went to $120 per barrel when we last seen the pump prices at their record levels ie up here we were paying £1.35 per litre for diesel
so if the price is approx $90 now and we are paying $1.31 as of this morning and there is a vat rise coming on the 4th.

You will see from one of the above charts that tax on fuel vat and duty combines has been rising but sometimes drops as a proportion of the final cost and averages 70-80%.

There is no doubt that the government has used oil as a crutch and rather than investing the proceeds in promised high speed rail links ( it promised this in 1979) the government has spent it to prop up the economy rather than deal with the decimation of industry in the UK it has watched as it turned into a call centre /service based/financial based economy.

There is also no doubt the oil companies are making increasing profits too you only need to look at their profits every year.

One factor though that is more important this time is inflation.

The government target which has been missed for the last 17 months is 2%. They work this out by taking an average basket of things we would buy and based on this if it were less or more than 2% they would alter interest rates to either encourage spending or depress spending.

The problem is interest rates have been their lowest ever and for a long time and they cant put them up for fear of revealing the economy is in the shitter.

The other trick they are using to keep the masses happy is by changing what they put in the basket of goods to work out what inflation is . There are two models used the CPI and the RPI and the government used to favour one over the other depending on what gave them the best lowest figure to again keep the plebs happy.

But it is pointless. they say inflation is 3.6% well we all know it is nearer 10% look at what you paid for your shopping last year and compare it now, yes you lcd telly might be cheaper but your staples wont be and you dont buy lcd tellies every week.

The reason we are seeing this inflation now is because oil is traded in dollars. It means that when companies buy and trade for oil they need to convert their currency into dollars.

A few year back you would have got about $1.80 ish to the pound now it is $1.50 ish

The other factor is the government via the bank of England have been printing money.

This has the effect of devaluing the pound in our pocket making things more expensive.


Its more than one factor and they are all interlinked but the bottom line is the UK was sold off on the cheap , they were too reliant on the corrupt city of london financial services (sic) the government no longer act for the people but for their own common purposes.

I also believe that those pulling the levers knew only too well how this would turn out and by killing the sovereign countries could introduce a one world currency and all the power that comes with that, once everyone is looking around wondering what to do as they have all found out they are in no better
position than Greece or Ireland.

My point to the above is no matter they be labour, tory lib dum and their promise every election of change, they do need to change and in a major way.

in some ways this is what i would do
[/url]http://www.youtube.com/watch?v=5i7oghsB31c

[ilscuro]

Looking at the graphic pumpman posted, Australia and Canada had slight petrol tax reductions, but Turkey and Hungary had huge petrol tax hikes, so i'll stop moaning now lol