Brent Crude Oil Futures $/barrel

[ewolg]

Just taken from the BBC website - so when are we going to see the fuel cost come down seeing as it's up around the mark it was when a barrel of oil was $125 not so long ago?? And don't get me started on when in 2008 or whenever and the oil was $145 a barrel and the cost was something around £1.30 per lt - someone is making a huge amount of money out of us - just look at the quarterly profits recently announced.

Brent Crude Oil Futures $/barrel - $111.51

[V88Dicky]

There's been several rises in duty since 2008 when petrol was £1.30/l and oil $147/bl

We're taking it up the arse from the government and in the mouth from the speculators/traders, whilst wking off Shell and BP.

No lube either!

[kambites]

It's a combination of gradual tax rises and the weak pound.

[ralphrj]

When oil peaked at $145/barrel the USD:GBP exchange rate was roughly $2:£1 so that barrel was £72.50.

The current spot rate is $114/barrel and the USD:GBP exchange rate is $1.6365:£1 so that barrel is roughly £70.

Given that the both the duty on petrol and diesel and VAT has increased since 2008 it is no surprise that the pump price is higher today.

[ewolg]

ralphrj said:

When oil peaked at $145/barrel the USD:GBP exchange rate was roughly $2:£1 so that barrel was £72.50.

The current spot rate is $114/barrel and the USD:GBP exchange rate is $1.6365:£1 so that barrel is roughly £70.

Given that the both the duty on petrol and diesel and VAT has increased since 2008 it is no surprise that the pump price is higher today.

Maybe so but I still want to have a bloody moan about it!! I reckon its about 10p too expensive at the moment.

[martin84]

With 59p of it duty, with VAT then added onto that tax its clear to see who's really ripping us off. Too many people still dont realise petrol is actually only 55p a litre at the moment or thereabouts.

[E30M3SE]

^^

Yep, the triple whammy...............

[martin84]

And with the hysterical eco campaigners wanting it to be £5 a litre to save the planet, believing the car is 100% to blame for any pollution despite proven facts to the contrary (do you get 500% tax on central heating? No, didnt think so) its difficult to make it come down. The Government dont do it to 'decrease emissions' because they know cars are essential and we'll pay it anyway.

[qooqiiu]

ewolg said:

I reckon its about 10p too expensive at the moment.

I reckon its about 50p too expensive.

[bromers2]

Check this thread :

http://www.pistonheads.co.uk/gassing/topic.asp?h=0...

It was $37 at one time !!

[mcflurry]

There's only about 6p of Gross profit at the (non motorway) pump.
Hence all the convenience stores to make some real money for the site owners...