We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
MSE News: Supermarkets continue to cut petrol prices
Former_MSE_Helen
Posts: 2,382 Forumite
in Motoring
This is the discussion thread for the following MSE News Story:
"Tesco has reduced petrol prices for a second time in a week, while Asda, Morrisons and Sainsbury's have also cut costs ..."
"Tesco has reduced petrol prices for a second time in a week, while Asda, Morrisons and Sainsbury's have also cut costs ..."
0
Comments
-
Sorry Helen but this is lazy - you have basically published the petrol retailers version of why pump prices have not fallen without looking at how much the exchange rate has actually moved during the period. As journalists I would expect you to check this out rather than just publish the industry lobby group output
I think....0 -
"The industry points out that some 60% of the pump price is accounted for by fuel duty and VAT, with another 10% going on delivery costs, marketing and profit margins."
So the delivery/marketing overheads won't change, but that the above is used to defend high prices implies that fuel duty and VAT are at a flat rate (and thus won't drop as barrel prices drop)?0 -
Not in my area, Tesco £1.38 and Maxol is £1.340
-
In May this year, £1 was worth $1.67. Right now, £1 is worth $1.63. That is a 2.4% drop.
Also in May, Brent Crude was $125 a barrel. Now it is trading at $108 a barrel, that's a 13% drop in price.
West Texas Crude Oil has fallen by even more since May (a 25% drop in the price per barrel).
The exchange rate argument DOES NOT HOLD UP!
Admittedly, other costs might have risen for those companies involved in this oil supply chain during this time - however May was only 3 months ago so I fail to see this.
Surely this is just another example of Joe Public being trampled on yet again for the sake of big business boosting their profit margins. Should we really be surprised in this greed-orientated world!0 -
Tesco haven't cut fuel prices in our area either. Nice piece of marketing by Tesco though - they've got free advertising and people visiting their stores in the hope of find cheap petrol.absoluteutopia wrote: »Not in my area, Tesco £1.38 and Maxol is £1.34
The truth is, in our area, fuel retailers appear to be fixing prices as part of an illegal cartel.
A 10 mile drive (to a very small town) sees a possible saving of around 5p/litre. Quite why this should be the case is a mystery.0 -
Interesting news, but the staff at our local Tesco (Uttoxeter) were changing the filling station signs to effect a 1p per litre increase at the pump on Saturday (13.8), so that diesel was 140.9 pence per litre, with a corresponding increase in the cost of petrol!
I'm not aware if they've decreased prices since then.0 -
Fuel duty is a flat rate - 57.95p/litre
Plus 20% VAT. Yes you DO get charged vat on the fuel duty.
Which makes it 69.54p
You have to give the government credit for that sneaky move. Taxing you on the tax is absolutely priceless isn't it?
PsiDOCNear a tree by a river, there's a hole in the ground.
Where an old man of Aran goes around and around....0 -
Tesco in Banbridge have just put there petrol up a penny a litre at the weekend!0
-
130.9 at my local Tesco - don't know about Asda/Morrisons0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards