A courtesy car. Yesterday
Despite appeals to the world's oils producers to sell more of the black stuff, it's new been revealed that the British Government has trousered an extra £1.7bn since fuel prices rocketed.
The revelation will embarrass the Prime Minister Gordon Brown as the biggest windfall is the extra £1.1bn made on petrol in only 81 days since the Budget on March 12, according to accountants Grant Thornton. It claims the Treasury is benefiting as a result of record oil prices.
Of that, an extra £900m comes from North Sea oil taxes paid by companies.
Maurice Fitzpatrick, a senior manager at the accountants, calculates the higher oil price alone will have earned the Treasury an extra £900m, with another £210m from VAT paid by motorists at the petrol pumps.
Mr Fitzpatrick said: "The windfall which the Treasury has already received over and above its forecasts in the Budget in March is already more than enough to finance the deferral for six months of the 2p a litre increase due to come into force in October."
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