High fuel prices? you aint seen nothin' yet
Discussion
Fuel hikes on the way as our Darling Brown tells us we need to pay back the money the bankers & the Labour Tory party pissed away in our name.
I seem to remember he upped the fuel duty to make up for the reduction in Very Awful Tax but I cannot find out if the fuel duty has been reduced with the return to 17.5% on Jan 1st.
Fuel prices round here have gone up 6p a litre in the last two months, it wasn't long ago we had a fuel protest with increases like that.
Next there will be an increase in the rate of inflation caused by governmental increases on tax on duty.
Brace yourself for 2010 fuel hikes, warns PRA
Motorists are being warned to brace themselves for a possible 10 pence per litre hike in fuel prices by the end of the year.
In a report from the Petrol Retailer’s Association (PRA) it is predicted that the cost of fuel could rise 5 pence per litre by the end of the first quarter alone in 2010.
The return of the VAT rate back to 17.5 per cent on January 1 is alone responsible for a New Year headache equating to 2.5 ppl (pence per litre) increase.
With a further increase in fuel duty set for April 1, fuel will increase by another penny. On the same date, the Government is also withdrawing its Duty incentive to refiners for the production of biofuel. The resulting Duty increase will therefore be passed on to consumers in the form of a second forecasted 1ppl rise at the pumps.
Because the Government needs to raise taxation to reduce the country’s budget deficit it could move to increase the VAT rate to 20 per cent, this would add a further 2.5ppl to the price of fuel. There is also the possibility of a snap budget post election which could lead to a fuel Duty hike of 2ppl in the autumn.
Brian Madderson, Chairman of the Petrol Retailers Association, said: “2009 has been a tough year for consumers and we are now looking at an even tougher year ahead. The predicted 10ppl rise does not take into consideration any increase in the world oil price which is also a possibility and could add another 3 to 5ppl to forecourt inflation. With pump prices averaging 108ppl for Unleaded and 110ppl for Diesel in the lead up to Christmas, we might well see pump prices in the second half of 2010 in the range 120 to 125ppl; setting record highs.
“It is going to be a tough year for both consumers and independent petrol retailers in 2010 and both are really going to feel the squeeze. RMI Petrol will be actively lobbying Government to minimise the tax increases in order to protect the vulnerable rural filling stations and maintain the momentum of any economic recovery.
“Brace yourselves for higher fuel costs ahead.”
I seem to remember he upped the fuel duty to make up for the reduction in Very Awful Tax but I cannot find out if the fuel duty has been reduced with the return to 17.5% on Jan 1st.
Fuel prices round here have gone up 6p a litre in the last two months, it wasn't long ago we had a fuel protest with increases like that.
Next there will be an increase in the rate of inflation caused by governmental increases on tax on duty.
Brace yourself for 2010 fuel hikes, warns PRA
Motorists are being warned to brace themselves for a possible 10 pence per litre hike in fuel prices by the end of the year.
In a report from the Petrol Retailer’s Association (PRA) it is predicted that the cost of fuel could rise 5 pence per litre by the end of the first quarter alone in 2010.
The return of the VAT rate back to 17.5 per cent on January 1 is alone responsible for a New Year headache equating to 2.5 ppl (pence per litre) increase.
With a further increase in fuel duty set for April 1, fuel will increase by another penny. On the same date, the Government is also withdrawing its Duty incentive to refiners for the production of biofuel. The resulting Duty increase will therefore be passed on to consumers in the form of a second forecasted 1ppl rise at the pumps.
Because the Government needs to raise taxation to reduce the country’s budget deficit it could move to increase the VAT rate to 20 per cent, this would add a further 2.5ppl to the price of fuel. There is also the possibility of a snap budget post election which could lead to a fuel Duty hike of 2ppl in the autumn.
Brian Madderson, Chairman of the Petrol Retailers Association, said: “2009 has been a tough year for consumers and we are now looking at an even tougher year ahead. The predicted 10ppl rise does not take into consideration any increase in the world oil price which is also a possibility and could add another 3 to 5ppl to forecourt inflation. With pump prices averaging 108ppl for Unleaded and 110ppl for Diesel in the lead up to Christmas, we might well see pump prices in the second half of 2010 in the range 120 to 125ppl; setting record highs.
“It is going to be a tough year for both consumers and independent petrol retailers in 2010 and both are really going to feel the squeeze. RMI Petrol will be actively lobbying Government to minimise the tax increases in order to protect the vulnerable rural filling stations and maintain the momentum of any economic recovery.
“Brace yourselves for higher fuel costs ahead.”
Edited to take into account valid point made below!
Edited by Mr E Driver on Monday 11th January 01:49
I have always found the first petrol station going into a town or city is more expensive and I have always thought they are hoping to catch the ones running on fumes to call in and fill up.
If I am going on a journey I check the fuel prices at the destination and plan where I fill up.
This might be considered a pain by some but I resent giving Darling Brown £2.50ish a tank more than I need to.
Over a years average motoring that would give me a 'free' tank of fuel
If I am going on a journey I check the fuel prices at the destination and plan where I fill up.
This might be considered a pain by some but I resent giving Darling Brown £2.50ish a tank more than I need to.
Over a years average motoring that would give me a 'free' tank of fuel
^^^ I do indeed ^^^ they send updates of local prices every week. I filled up yesterday in Bradford 2p cheaper than my local Sainsurys (I use them to get the points and sometimes they have a 5p/litre offer with £50+ supermarket spend) If I'm passing Fosse park Leicester I fill up there as it is usually the cheapest and a lot cheaper than the motorway services.
It's going to reach £5.41/gallon according to the Daily Telegraph in tomorrows paper
Flanders. said:
f
king cost me 50 quid to fill up a 1.4 Corsa the other day 
.
Next time fill it up when it half empty and it will only cost you £25king cost me 50 quid to fill up a 1.4 Corsa the other day .Happy days are here again
Edited by Mr E Driver on Monday 15th March 23:20
Fuel has been steadily going up nearly every other week in the last month or so and d is at 125ppl round here now.
I wonder if they are doing it prior to the VAT increase on the 1st Jan and the retailers 'absorbing the increase'
Next month they will be telling us inflation has gone up again.
I wonder if they are doing it prior to the VAT increase on the 1st Jan and the retailers 'absorbing the increase'
Next month they will be telling us inflation has gone up again.
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