Road fuel not expensive

bryanb

It's the tax which is under government control, and the VAT which is EU controlled that create the illusion of expensive oil products!

MarkyMarkD

The duty hasn't changed, and the VAT is a constant proportion of the basic price.

So the increase in price is due to the underlying oil price, not the duty or the VAT.

bryanb

Didn't mention increases, if the tax and VAT were removed fuel would be cheap. All I said.

MarkyMarkD

Well that would be a stupid thing to say.

The reason they are expensive, relatively to when they were less expensive, is the increase. And the increase isn't due to the government.

Hintza

bryanb wrote: »

It's the tax which is under government control, and the VAT which is EU controlled that create the illusion of expensive oil products!

Just remember oil was under $12 a barrel in 1999!!! So the price has gone up ten fold.

The average in 2007 was $64.

Having worked in third world countries where the tax is minimal I doubt they would agree with you.

Pew_Pew_Pew_Lasers!

MarkyMarkD wrote: »

The duty hasn't changed, and the VAT is a constant proportion of the basic price.

So the increase in price is due to the underlying oil price, not the duty or the VAT.

When the base price of the fuel increases, the VAT charged on the total price of the fuel including duty also increases.

Not that I care since I'm VAT registered and therefore don't pay it.

jammin_2

bryanb wrote: »

..the VAT which is EU controlled..

Member States set their own rate of VAT. Ireland is 21% and Sweden is 25% :eek:

bryanb

jammin wrote: »

Member States set their own rate of VAT. Ireland is 21% and Sweden is 25% :eek:

By EU controlled I meant, the EU controls which commodities are subject to VAT.

anewman

The yanks moan about petrol prices and they pay something ridiculous like 50p a litre. I'd go on a big driving binge if petrol was that price tomorrow.

MEMBER02

In todays daily express it states the goverment are raking in thousands of extra revenue due to rising petrol prices,obviousely this is from extra vat,yesterday i paid £115.9p a litre for unleaded at local tesco a few months ago before these hugh increases it was about 85.9p per litre,now a extra 30p,out of this extra 30p the goverment are getting an extra 5.25p a litre extra in vat,so the goverment is benefitting financially because of the petrol/diesel price increases.

AdrianHi

anewman wrote: »

The yanks moan about petrol prices and they pay something ridiculous like 50p a litre. I'd go on a big driving binge if petrol was that price tomorrow.

50p per litre is about right.
My wife's God mother lives in Florida and she sent a joke email moaning about gas prices. I sent an email back telling here we are paying about $8 per US gallon for unleaded and $8.87 per US gallon for diesel. In Florida, according to a web site in the US that publishes "gas" prices it is between $3.60 and $4 per US gallon for - about half or less.