RE: Petrol '£1.50 Litre By Autumn'
Tuesday 29th April 2008
Petrol is expected to hit £1.50 a litre by the autumn.
Petrol '£1.50 Litre By Autumn'
Fears fuel prices will continue to soar
Despite this oil giants Shell and BP have both reportedly shattered first-quarter profit forecasts today.
Meanwhile motorists continue to suffer at the pumps and the price of fuel is likely to continue to soar throughout 2008.
It is understood that Royal Dutch Shell has announced a 12% increase in current cost of supply (CCS) net income to $7.85 billion (3.96 billion pounds) while BP was up 48 percent to $6.59 billion.
Fuel experts are now predicting that petrol will hit £1.50 a litre by September, or £6.82 a gallon.
On top of this the Government – which many are blaming for not using tax to rein in prices – is to add a controversial 2p tax hike in October.
Drivers are already paying much more than average, with some petrol stations charging £1.20 a litre.
Sarah Teacher, the Liberal Democrats’ business spokeswoman said: ‘Oil companies should not be profiteering while so many are struggling to make ends meet.
‘Consumers are already facing huge price hikes in food and utility bills.’
Discussion
oh fantastic!
despite all the protests its not like the goverment are gonna listen & reduce there tax on it because they dont give a crap about people just about covering there mistakes which they make over and over again
oh and congrats to shell and BP on the soaring profits, maybe next month u cud give all motorists a few tanks of free fuel!?
despite all the protests its not like the goverment are gonna listen & reduce there tax on it because they dont give a crap about people just about covering there mistakes which they make over and over again
oh and congrats to shell and BP on the soaring profits, maybe next month u cud give all motorists a few tanks of free fuel!?
BP profits up 48% this last quarter...
Mmmmm I wonder where all that money is coming from?
Just out of interest, is this another RIP OFF BRITAIN problem. What's the cost (using current exchange rate) for other countries as I couldn't imagine the French farmers being happy with the price we are paying...?
Mmmmm I wonder where all that money is coming from?
Just out of interest, is this another RIP OFF BRITAIN problem. What's the cost (using current exchange rate) for other countries as I couldn't imagine the French farmers being happy with the price we are paying...?
"Sarah Teacher, the Liberal Democrats’ business spokeswoman said: ‘Oil companies should not be profiteering while so many are struggling to make ends meet."
Would that be the same Liberal Democrat party that would have us all paying £2k+ road tax if they got in? I notice she's tactfully avoiding the vast amount of tax we pay on petrol and blaming only the oil companies, obviously mindful of the fact that her party would be cashing-in on the end-user of oil products just as much as Labour are.
Would that be the same Liberal Democrat party that would have us all paying £2k+ road tax if they got in? I notice she's tactfully avoiding the vast amount of tax we pay on petrol and blaming only the oil companies, obviously mindful of the fact that her party would be cashing-in on the end-user of oil products just as much as Labour are.
Edited by MitchT on Tuesday 29th April 12:34
I think if the government reduced taxation on fuel it would put money back into consumers pockets and reduce retail prices through logistics savings. This is very likely what they will do because the government is here to help us all and make our economy strong.
Amey Titworth - aged six.
Amey Titworth - aged six.
What is the profit vs turnover though.
It's easy to say profits up 40% or whatever, but if their profit is maybe 4% of their turnover, then they are not really profiteering at all. Indeed, who is to say that they are not struggling to re-invest, and are trying to increase profit to re-invest?
All very easy to just point the finger at the oil companies profits out of reference to the turnover.
The government are the ones raking in cash aplenty. I'd be interested to see how their take has gone up from the recent rises across the board! I bet they are making 10% more than last year, where is their 'relief' to help consumers?
And what is it being spent on?
Dave
It's easy to say profits up 40% or whatever, but if their profit is maybe 4% of their turnover, then they are not really profiteering at all. Indeed, who is to say that they are not struggling to re-invest, and are trying to increase profit to re-invest?
All very easy to just point the finger at the oil companies profits out of reference to the turnover.
The government are the ones raking in cash aplenty. I'd be interested to see how their take has gone up from the recent rises across the board! I bet they are making 10% more than last year, where is their 'relief' to help consumers?
And what is it being spent on?
Dave
The fuel company profiting I can understand. They are after all companies and not charities and it's not their responsibility to ensure that everybody can afford to buy fuel.
It's the government taxation that drives me up the wall. Governments are supposed to be there to help us, basically appointed as our representatives to sort out the stuff we don't want to sort out ourselves, handle the day to day running of the country so that we little commonfolk can focus on scampering about dealing with our businesses and so forth. They should NOT be INCREASING the tax levels on fuel, to fund whatever ridiculous new scheme or benefit fund or eco-plan or middle eastern war they come up with this week; when every single citizen is crying out for it to be LOWERED.
It's the government taxation that drives me up the wall. Governments are supposed to be there to help us, basically appointed as our representatives to sort out the stuff we don't want to sort out ourselves, handle the day to day running of the country so that we little commonfolk can focus on scampering about dealing with our businesses and so forth. They should NOT be INCREASING the tax levels on fuel, to fund whatever ridiculous new scheme or benefit fund or eco-plan or middle eastern war they come up with this week; when every single citizen is crying out for it to be LOWERED.
Sadly we have to get used to this ... demand is beginning to outstrip supply and the enivitable consequence is spiraling prices, I think we are only seeing the beginning, it's going to get tough. Sad to say as a dedicated petrol head, but we have to be realistic about where this is going ... no one is going to 'step in' to rescue us on this.
Just done a couple of sums on this.
At the moment my frugal little car achieves 50mpg over the course of a tank. The tank is just over 40 litres or about 9 gallons which at 108.9ppl costs me £43.56 to fill. At aforementioned 50mpg, the cost is 9.8p per mile.
If petrol reaches 150ppl my car will cost £60 to fill and at 50mpg will cost me 13.6p per mile. That represents an 27% increase in the cost of transportation in (conservatively) 5 months.
Anyone know where I can get a car that will do 70mpg combined?
I imagine the list contains a small number of £16k+ hybrids and a couple of VW diesels on ditch finder tyres, again knocking on for £15k no doubt.
Looks like I'm f
ked then.
On the upside, at least my 1.0l engine will stand me in good stead come VED time. Oh no, that's right, it won't. I have the audacity to exhale 132g of plant food per kilometre and therefore must be flogged financially for my crimes against Al Gore.
wrs the lot of them.
At the moment my frugal little car achieves 50mpg over the course of a tank. The tank is just over 40 litres or about 9 gallons which at 108.9ppl costs me £43.56 to fill. At aforementioned 50mpg, the cost is 9.8p per mile.
If petrol reaches 150ppl my car will cost £60 to fill and at 50mpg will cost me 13.6p per mile. That represents an 27% increase in the cost of transportation in (conservatively) 5 months.
Anyone know where I can get a car that will do 70mpg combined?
I imagine the list contains a small number of £16k+ hybrids and a couple of VW diesels on ditch finder tyres, again knocking on for £15k no doubt.
Looks like I'm f
ked then.On the upside, at least my 1.0l engine will stand me in good stead come VED time. Oh no, that's right, it won't. I have the audacity to exhale 132g of plant food per kilometre and therefore must be flogged financially for my crimes against Al Gore.
w
rs the lot of them.Is it wrong for me to be really very angry about this?
Im actually quite a calm person usually, but even taking a step back and looking at the bigger picture, i still feel like this government/country is consistantly screwing us time and time again. I can't believe the price of oil can rocket THAT much in a matter of months. Is there really that much of a supply and demand problem?
What's causing the massive increase in price? Is the econemy really in that much of a state that they need to keep screwing more and more money out of us? It just seems like every day these days, more and more things keep getting hiked and they keep trying to prise more and more money out of things. They keep taking away our liberties, restricting what we can do, where we can go and how we can do things and all the while mothers and fathers are getting beaten up in the street by groups of rampent youths.
I must admit that these days im a little disillusioned...
Im actually quite a calm person usually, but even taking a step back and looking at the bigger picture, i still feel like this government/country is consistantly screwing us time and time again. I can't believe the price of oil can rocket THAT much in a matter of months. Is there really that much of a supply and demand problem?
What's causing the massive increase in price? Is the econemy really in that much of a state that they need to keep screwing more and more money out of us? It just seems like every day these days, more and more things keep getting hiked and they keep trying to prise more and more money out of things. They keep taking away our liberties, restricting what we can do, where we can go and how we can do things and all the while mothers and fathers are getting beaten up in the street by groups of rampent youths.
I must admit that these days im a little disillusioned...
MitchT said:
"Sarah Teacher, the Liberal Democrats’ business spokeswoman said: ‘Oil companies should not be profiteering while so many are struggling to make ends meet."
Would that be the same Liberal Democrat party that would have us all paying £2k+ road tax if they got in? I notice she's tactfully avoiding the vast amount of tax we pay on petrol and blaming only the oil companies, obviously mindful of the fact that her party would be cashing-in on the end-user of oil products just as much as Labour are.
Indeed mate. Nick Clegg on Talksport this morning, and Five Live yesterday, said they would continue to hammer us at the the pumps to get us to buy/drive more emission friendly vehicles. For fWould that be the same Liberal Democrat party that would have us all paying £2k+ road tax if they got in? I notice she's tactfully avoiding the vast amount of tax we pay on petrol and blaming only the oil companies, obviously mindful of the fact that her party would be cashing-in on the end-user of oil products just as much as Labour are.
Edited by MitchT on Tuesday 29th April 12:34
ks sake no PH'ers should ever vote Liberal. motormania said:
BP profits up 48% this last quarter...
Mmmmm I wonder where all that money is coming from?
Just out of interest, is this another RIP OFF BRITAIN problem. What's the cost (using current exchange rate) for other countries as I couldn't imagine the French farmers being happy with the price we are paying...?
I took the kids on a daytrip to France during the Easter break, and diesel at City-Europe in Calais was €1.29. I think it was €0.99 when I filled up there last summer. Add to that the worstening exchange rate with the Euro, I think the cost of diesel was about the same as buying it in the UK. Mmmmm I wonder where all that money is coming from?
Just out of interest, is this another RIP OFF BRITAIN problem. What's the cost (using current exchange rate) for other countries as I couldn't imagine the French farmers being happy with the price we are paying...?
I believe unleaded is more expensive in France, so they may actually be paying more than us, but then again the French tend to favour diesel vehicles.
motormania said:
BP profits up 48% this last quarter...
Mmmmm I wonder where all that money is coming from?
Just out of interest, is this another RIP OFF BRITAIN problem. What's the cost (using current exchange rate) for other countries as I couldn't imagine the French farmers being happy with the price we are paying...?
Well I live in the south of France and I'm afraid it's not much better here.Mmmmm I wonder where all that money is coming from?
Just out of interest, is this another RIP OFF BRITAIN problem. What's the cost (using current exchange rate) for other countries as I couldn't imagine the French farmers being happy with the price we are paying...?
The recent drop of the Pound against the Euro certainly doesnt help us Brits living in France.
Price per litre below:
RON 95 1.38 Euro approx £1.09
RON 98 1.43 Euro approx £1.13
Diesel 1.27 Euro approx £1.00
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