How low will fuel go? Is 99p a litre feasible in the UK
Discussion
114 in N London (tesco), probably 113 at the next station, i live within 1/2 mile of a tesco, morrisons and a sainsburys so they are allways battling with prices, the 6 other fuel stations withing that 1/2 mile seem to keep up ok, never more than a penny dearer which is good going for an independant IMHO.
If there wasn't a General Election in a few months time you can bet your life the government would already be reintroducing the fuel tax escalator which they cancelled a few months ago.
Lower fuel price hits George Osborne because every 5p the price goes down he loses 1p in VAT revenue, even though the actual fuel duty (about 58p per litre) doesn't reduce. 1p may not sound much but it's a 2% reduction in his tax take and 2% of a humungous number is still a very big number! Namely, getting on for £1billion !!
"For every litre of unleaded petrol bought in the UK, 61 per cent of the pump price goes to the government as fuel duty and VAT. Britain taxes its drivers more heavily than any other EU nation despite the government having frozen fuel duty since March 2011."
Lower fuel price hits George Osborne because every 5p the price goes down he loses 1p in VAT revenue, even though the actual fuel duty (about 58p per litre) doesn't reduce. 1p may not sound much but it's a 2% reduction in his tax take and 2% of a humungous number is still a very big number! Namely, getting on for £1billion !!
"For every litre of unleaded petrol bought in the UK, 61 per cent of the pump price goes to the government as fuel duty and VAT. Britain taxes its drivers more heavily than any other EU nation despite the government having frozen fuel duty since March 2011."
ensignia said:
112.9 at Tesco on Purley Way.
This one?https://maps.google.co.uk/maps?q=tesco+near+Purley...
What a difference two months can make!
How much difference would 99p make? I'm paying 119.9. So 20p litre. Assuming you have a 50 litre tank you could potential save £10 a tank. Given that would last most people 2/3 weeks. We are looking at between £3-5 a week. Hardly life changing is it... I'd rather just have a stable fuel price rather than this up/down rubbish.
Those are just average figures. But they do demonstrate the mass hysteria that is caused over nothing.
Those are just average figures. But they do demonstrate the mass hysteria that is caused over nothing.
photosnob said:
How much difference would 99p make? I'm paying 119.9. So 20p litre. Assuming you have a 50 litre tank you could potential save £10 a tank. Given that would last most people 2/3 weeks. We are looking at between £3-5 a week. Hardly life changing is it... I'd rather just have a stable fuel price rather than this up/down rubbish.
Those are just average figures. But they do demonstrate the mass hysteria that is caused over nothing.
My perfectly ordinary commute which I'll admit to doing at just 20mpg uses an £80 tank on its own. Plus other running around, 90p a gallon would save me about £50/month. That's my road tax, insurance, MOT all paid for. If you won't miss it, perhaps you'd bank transfer me £600 now and I'll call again this time next year Those are just average figures. But they do demonstrate the mass hysteria that is caused over nothing.
Simon.
photosnob said:
How much difference would 99p make? I'm paying 119.9. So 20p litre. Assuming you have a 50 litre tank you could potential save £10 a tank. Given that would last most people 2/3 weeks. We are looking at between £3-5 a week. Hardly life changing is it... I'd rather just have a stable fuel price rather than this up/down rubbish.
Those are just average figures. But they do demonstrate the mass hysteria that is caused over nothing.
True, but I use about a tank a week just doing day to day stuff, ok my task is quite small (Mini) but over a month 20p less a litre adds up.Those are just average figures. But they do demonstrate the mass hysteria that is caused over nothing.
ferrariF50lover said:
My perfectly ordinary commute which I'll admit to doing at just 20mpg uses an £80 tank on its own. Plus other running around, 90p a gallon would save me about £50/month. That's my road tax, insurance, MOT all paid for. If you won't miss it, perhaps you'd bank transfer me £600 now and I'll call again this time next year
Simon.
So £600 a year - for a statistical outlier, talking about numbers no one is even contemplating (90p/lire). Simon.
If you are really going to miss/worry about £600 a year then swap your car for something more mainstream - you will be man £k's up.
This site seems to be fully of people who pride themselves on picking the most expensive running cost cars, and then winging and moaning about unimportant things, like the price of fuel and road tax.
photosnob said:
ferrariF50lover said:
My perfectly ordinary commute which I'll admit to doing at just 20mpg uses an £80 tank on its own. Plus other running around, 90p a gallon would save me about £50/month. That's my road tax, insurance, MOT all paid for. If you won't miss it, perhaps you'd bank transfer me £600 now and I'll call again this time next year
Simon.
So £600 a year - for a statistical outlier, talking about numbers no one is even contemplating (90p/lire). Simon.
If you are really going to miss/worry about £600 a year then swap your car for something more mainstream - you will be man £k's up.
This site seems to be fully of people who pride themselves on picking the most expensive running cost cars, and then winging and moaning about unimportant things, like the price of fuel and road tax.
ZOLLAR said:
Tax is a percentage isn't it?
So as the price drops so will the tax paid.
Edit no sure on that, happy to be corrected
You are right to be unsure! Fuel duty is a fixed amount per litre. It's only the VAT which moves as a percentage.So as the price drops so will the tax paid.
Edit no sure on that, happy to be corrected
What's really nasty is that VAT is calculated on the total price so you pay VAT on the tax you just paid! A bit like paying your Council Tax out of taxed income, which doubles the burden.
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