Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Banjax on 21 April 2011, 07:53:56
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how come the price of a barrel of oil is $25 less now than it was in 2008 yet the fuel at the pumps is nearly double? ::) :o :o
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::) Bend over and take it like a......
.....well, erm: everyone, actually! >:(
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::) Bend over and take it like a......
.....well, erm: everyone, actually! >:(
yep over £100 to fill a rather 406 is a joke :o
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Because the Conservatives want to shaft us of every penny we scrimp and save for. When your getting 40 miles from £10 worth of fuel in a MINI, you know there's something not right >:(
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You muppets......think, exchange rates!
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You muppets......think, exchange rates!
but this is oil bought and sold in dollars - exchange rates dont come into it :o
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::) Bend over and take it like a......
.....well, erm: everyone, actually! >:(
In this case the term often used by old 'Salts' - 'whose turn is it for the barrel?' - would seem to be quite appropriate. [smiley=laugh.gif]
[media]http://www.youtube.com/watch?v=XQpqpy1FPuY&feature=related[/media]
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Of course they do, we pay in pounds.
Its simple maths
If we pay say 130p per litre
We know that there is 20% VAT on that which is 21.6p
Then there is 57.95p per litre in duty
The retailer adds say 2p
Thats gives a base cost of 48.4p per litre for extraction, refining and transport. (81.6p of the total being tax)
Now, you may see a difference of 25 dollars on a barrel but (brent crude being 124$), this is 16% less but, the exchange rate is (it was about 0.68 dollars to the pound in 2008) about 0.6 which is a 13% change in the opposite direction hence the drop in oil price has been offset by a change in exchange rates.
Then add on the duty rises which were
2007 - 50.35p
2009 - 56.19p
2011 - 58.95p
Now - 57.95p
Plus your vat and hence the prices
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Of course they do, we pay in pounds.
Its simple maths
If we pay say 130p per litre
We know that there is 20% VAT on that which is 21.6p
Then there is 57.95p per litre in duty
The retailer adds say 2p
Thats gives a base cost of 48.4p per litre for extraction, refining and transport. (81.6p of the total being tax)
Now, you may see a difference of 25 dollars on a barrel but (brent crude being 124$), this is 16% less but, the exchange rate is (it was about 0.68 dollars to the pound in 2008) about 0.6 which is a 13% change in the opposite direction hence the drop in oil price has been offset by a change in exchange rates.
Then add on the duty rises which were
2007 - 50.35p
2009 - 56.19p
2011 - 58.95p
Now - 57.95p
Plus your vat and hence the prices
yeah, well, when you put it like that it makes sense :o :o ;)
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I seem to recall that the cheap times were 2007 mainly to.
From 2008 we were paying on average 110-120 per litre (although it did dip down for a short period)
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I seem to recall that the cheap times were 2007 mainly to.
From 2008 we were paying on average 110-120 per litre (although it did dip down for a short period)
I would like to go back to the time when a 'pound's worth' meant something. :(
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::) Bend over and take it like a......
.....well, erm: everyone, actually! >:(
In this case the term often used by old 'Salts' - 'whose turn is it for the barrel?' - would seem to be quite appropriate. [smiley=laugh.gif]
[media]http://www.youtube.com/watch?v=XQpqpy1FPuY&feature=related[/media]
That's a comprehensive music collection you must have there Den! ;D ;)
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When people contribute to my petrol costs they still think it's 4 gallons for a quid ::)
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Because the Conservatives want to shaft us of every penny we scrimp and save for. When your getting 40 miles from £10 worth of fuel in a MINI, you know there's something not right >:(
But since the Tories/Libs took power, they have only increased the fuel duty by 3.5 pence (2.5p VAT and 1p legacy from final Labour budget)... The Labour party reintroduced the fuel duty escalator and turned it up to high...
I firmly beleive it is time for more proper fuel protests and Panic buying... £1.40ish / litre is stupid and will at some point bring the country to a stop...
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I seem to recall that the cheap times were 2007 mainly to.
From 2008 we were paying on average 110-120 per litre (although it did dip down for a short period)
I would like to go back to the time when a 'pound's worth' meant something. :(
Yes Den. 'You don't get many of them in a pound' rings a bell. ;D ;D
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Because the Conservatives want to shaft us of every penny we scrimp and save for. When your getting 40 miles from £10 worth of fuel in a MINI, you know there's something not right >:(
But since the Tories/Libs took power, they have only increased the fuel duty by 3.5 pence (2.5p VAT and 1p legacy from final Labour budget)... The Labour party reintroduced the fuel duty escalator and turned it up to high...
I firmly beleive it is time for more proper fuel protests and Panic buying... £1.40ish / litre is stupid and will at some point bring the country to a stop...
Think you will find it is now illegal to block refinery gates etc. I can just about remember that last government passing terror laws or the like to stop it. If I remember correctly of course.
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I seem to recall that the cheap times were 2007 mainly to.
From 2008 we were paying on average 110-120 per litre (although it did dip down for a short period)
I would like to go back to the time when a 'pound's worth' meant something. :(
Would this be the same time we had bubonic plague......consumption.....typhus....and scarlet fever Den?........ :y :y :y.....A few dozen leeches soon sorted out these minor ailments back then. ;)
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::) Bend over and take it like a......
.....well, erm: everyone, actually! >:(
I reckon that's how I ended up with the big C, too many a** rapings from the man has finally taken it's toll ;D
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I seem to recall that the cheap times were 2007 mainly to.
From 2008 we were paying on average 110-120 per litre (although it did dip down for a short period)
I would like to go back to the time when a 'pound's worth' meant something. :(
Would this be the same time we had bubonic plague......consumption.....typhus....and scarlet fever Den?........ :y :y :y.....A few dozen leeches soon sorted out these minor ailments back then. ;)
Aah them was the days Opti. 8-) 8-)
We need a good plague or two to knock back a lot of the tinkers infesting the streets nowadays. :-* :-* :y
[media]http://www.youtube.com/watch?v=iNIIwqafrO4[/media]
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nowt wrong with £2.00 a litre, as long as were all on £50 an hour or what ever the general equivalent rate of pay is.
what was the take home pay/ fuel costs in the 70s?
edit
(cracking link den, hopfully we can play it again some time)
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We need high taxes on our fuel to help pay to put right labours mistakes Banjax, simples! :y
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We need high taxes on our fuel to help pay to put right labours mistakes Banjax, simples! :y
Indeed, and even higher taxes to sort out the mess we are getting into under the present lot who seem to think we have money to save the world....... ::) ::) ::)
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Its amazing how a few years ago the Haulage Industry were screaming blue murder and causing disruption on the roads when fuel almost hot a £1 p/ltr...
Yet at almost £1.50 p/ltr not so much as a whisper from them??
Any bets that the Government has given them HUGE tax relief or similar to sweeten them and keep them quiet? >:(
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We need high taxes on our fuel to help pay to put right labours mistakes Banjax, simples! :y
presumably the financial woes in Greece, Portugal, USA, Italy, Iceland, etc are Labours fault too :o
that aside, the tories stated, publicly, for the record, its in Hansard - they would have matched Labours spending "penny for penny, pound for pound"
true or false?........go on i'm lying arent I........must be.........call me on it....... :y
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Its amazing how a few years ago the Haulage Industry were screaming blue murder and causing disruption on the roads when fuel almost hot a £1 p/ltr...
Yet at almost £1.50 p/ltr not so much as a whisper from them??
Any bets that the Government has given them HUGE tax relief or similar to sweeten them and keep them quiet? >:(
i doubt they can afford the disruption more like :(
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Its amazing how a few years ago the Haulage Industry were screaming blue murder and causing disruption on the roads when fuel almost hot a £1 p/ltr...
Yet at almost £1.50 p/ltr not so much as a whisper from them??
Any bets that the Government has given them HUGE tax relief or similar to sweeten them and keep them quiet? >:(
i doubt they can afford the disruption more like :(
I never thought of that one, lol ;D ;D ;D
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The hauliers have been crying about it - listen to the local proper radio stations. Mainstream media more interested in making up stories about armageddon in Japan, and some idiot marrying some bird with too many teeth.
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well according to the usa, customers there are complaining about the price of fuel as well. so its not just us.
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well according to the usa, customers there are complaining about the price of fuel as well. so its not just us.
They too are getting tax hikes (governments who went radio rental pre-recession) have to claw back their debts. Also, brent crude is still high.