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Fuel prices at the pumps should have goen down weeks ago not up

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Comments

  • sevenhills
    sevenhills Posts: 5,938 Forumite
    Part of the Furniture 1,000 Posts Name Dropper

    It is profiteering.
    I think all this talk about profiteering is nonsense.
    What do you mean by profiteering?
    Do you believe there is a cartel and competition that normally prevents high prices isn't working?
    Why is this and what proof do you have?
  • Bigphil1474
    Bigphil1474 Posts: 4,075 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I think the reference to profiteering is in relation to how quickly petrol prices go up, and how slow they come down, following changes to the actual cost of production and supply.

    Clearly, this would not always or necessarily be the retailer - supermarkets buy their fuel from the refinery at the given price, but they do have decent economies of scale. I suspect that there is a lag in the system which is inevitable, so even a huge drop in oil prices today may take weeks to show up in petrol prices in the future. How much of the delay is down to profiteering, and how much is to do with the expensive petrol making it's way through the process to the forecourts, before the cheaper stuff arrives is anyone's guess. I appreciate that is a simplification of the process.
  • user1977
    user1977 Posts: 19,628 Forumite
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    the 46% tax needs to be reduced 
    What would you rather pay tax on instead?
  • Jenni_D
    Jenni_D Posts: 5,587 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    I was wondering where the 46% came from (as I always thought it was a higher percentage), but I then found that fuel duty is currently levied at a flat rate of 57.95p per litre, so as the price goes up the VAT collected goes up but the fuel duty remains static, thus the overall proportion of tax in the price reduces. :) 
    Jenni x
  • jimjames
    jimjames Posts: 19,283 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Megaross said:
    Fact is motorists are treated like a cashpoint and have been for decades. Rightly or wrongly we will get fleeced for driving.
    If people were really worried about motoring costs then they'd avoid short journeys that could be done on foot and turn off the engine at traffic lights or idling when parked up. 
    Remember the saying: if it looks too good to be true it almost certainly is.
  • diystarter7
    diystarter7 Posts: 5,202 Forumite
    1,000 Posts First Anniversary Name Dropper
    user1977 said:

    the 46% tax needs to be reduced 
    What would you rather pay tax on instead?
    Massive rises in smoking/vapping taxes and alcohol. I do drink and if there was tax rises on my brandy etc, I'd pay and its easier to manage without a drink then to drive to work etc.
  • diystarter7
    diystarter7 Posts: 5,202 Forumite
    1,000 Posts First Anniversary Name Dropper
    jimjames said:
    Megaross said:
    Fact is motorists are treated like a cashpoint and have been for decades. Rightly or wrongly we will get fleeced for driving.
    If people were really worried about motoring costs then they'd avoid short journeys that could be done on foot and turn off the engine at traffic lights or idling when parked up. 
    Hence the stop-start on most if not all new cars.

    Sell the big car and buy a small car often less road tax, insurance, maintenance etc and that money could go to fuel etc.
  • sheramber
    sheramber Posts: 24,703 Forumite
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    user1977 said:

    the 46% tax needs to be reduced 
    What would you rather pay tax on instead?
    Massive rises in smoking/vapping taxes and alcohol. I do drink and if there was tax rises on my brandy etc, I'd pay and its easier to manage without a drink then to drive to work etc.
    Do you drink as much as the amount of fuel you buy. If not, how much tax would have to be levied to recoup the amount lost on the fuel reduction.

    If you give up drinking then no tax will be collected so where would you increase tax next?
  • ontheroad1970
    ontheroad1970 Posts: 1,710 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    I’m getting really rather confused as less than a month ago you said elsewhere on the forum that your father's car was a brand new (2016) Mercedes C class rather than a GLE.

    Apologies if I’ve missed a post somewhere which explains the change in model.
    We all need to keep up - it is hard at times.

    The OP has an old C-class, but was considering changing to a big car:
    I'm considering changing my car
    the two models I prefer are

    Mercedes GLE, 250d AMG line
    or
    BMW M Sport any diesel engine

    Btw, I have an old Merc, C class diesel and I think one of the injectors may have gone or timing gone cars done 50k miles a 2007 car.
    and seems to have now purchased a Ford (which is surely cheaper to fuel, so lucky really as the OP cannot afford to fuel a GLE):
    I've been in a RR a few times, a couple of years ago we went to a LR car showroom, intial sat in the RR/Sport it had all the toys about 20k extras fell in love and then sat in the RR, fell in love with it.  Then I sat in the Discovery sport the car we went to look at/dream about - it was an anti-climax. And for the money of used discovery sport and it felt cramped and then when we returned home, thankfully, my head over-ruled my heart and we go a lovely Ford, lovely car but my dream is a RR and it will happen if we win the lottery. 
    The car I have, it's a Ford but a pretty nice one when I first got it. I want a Mercedes but did not buy dads car as it would overhand the drive. I've dreamed about an SUV keep looking on websites but I know they can cost a bomb to run so its a no atm.

    The OP's father had an E-Class (or two):
    My dad bought a brand new Mercedes E Class, AMG Line in Dec 2017
    It has low miles sub 14k and FSH via MB
    Dad has a brand new E class bought in 2016, 250d.
    He was disgusted at the high emissions so sold it to plant some trees:
    Dad bought the E Class as he too liked it and was assured by emission figures that the car was a lot less polluting and gave better mileage than it did and acceleration. Since the recall, less MPG, idle not as smooth and polluting a lot more so he was sold a lie. Dad cares about the air and pollution as was assured the car was very green.
    Dad was against claiming but now said he will and give the compensation to a charity that is plating trees in england
    to make the air cleanner. We are hoping for at least the full price of the car.
    Obviously, once the full refund was received, the environment must have become less of a concern as Dad now has the GLE.  Logic says an EV would have been the way to go as an eco-conscious individual but, hey-ho...

    The OP had considered buying their Dad's E-Class (and also their sibling's E-Class) but both (!) were too big for the OP's driveway:
    More recently I wanted to my my siblings 6 year old E class as he had it from new and looked after it but we did not because the car is about 8 inches too long for the drive.
    As I said, I wanted to buy dads MB/E class as its its about 6 yrs old but like new as he has had it from new, but the drive is a few inches short, so I did NOT buy the car.
    Keeping up can leave you feeling justworriedabit as it is like tracking sands sweetly trickling through fingers.
    Note also that he/she has children who drive around with their air con all the time.  I wonder which cars they use?
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