Must use half a ltr driving from one side of the island to the other.Still €0.81 here
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Must use half a ltr driving from one side of the island to the other.Still €0.81 here
Only costs about €50 to fill it upMust use half a ltr driving from one side of the island to the other.
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What ,more than it is suffering now ?No but they either raise their tax some other way - or maybe their economy suffers
I was using "raise" in the sense of "obtain" rather than "increase" I agree that setting tax rates too high can have a negative effect (and lowering them can have positive effect) - as we have seen with higher rate income tax in the UKWhat ,more than it is suffering now ?
Increased taxes do not increase the tax take. Just the opposite usually happens. Over the last 14 years they quadrupled cigarette & tobacco prices by raising taxes & the result is 1 billion a year less tax than in 2002.
When fuel was at 1,30€/litre here many hauliers were on the point of bankruptcy as they could not increase prices charged.
What is needed here is alternative/new, large scale manufacturing & investment, but it isn't likely to happen.
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Tesco have a bad rep for fuel. I used to fill up there and when switched to morrisons I notice a massive increase in mog.
Don't like sainsbury fuel. Asda ain't bad but both my cars run as good with morrisons as BP or shell
YepFilling up in Gib and Luxembourg, you're no better than those tax dodging tories
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Very easy to blame the government when THEY INCREASE THE TAX
Peter if you are going to quote me please quote the whole post as it the whole of it is relevant..royMaybe that could be because the biggest percentage of the cost of fuel is TAX?
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Greed by successive governments? Fuel duty (58p per litre) hasn't risen since 2011 so all price rises since then have instigated by the fuel companies to boost the amount they take. Granted there is extra VAT but that increased because of the fuel company rises.LOW, price diesel?. since when. There is NO reason that a Gallon of fuel need be above £2. The rest is GREED, By successive governments trying to "feel green" whilst Taxing the country to hell and back in the vain attempt to "balance the books", whilst at the same time Squandering MILLIONS (nay billions), on keeping foreign countries who HATE us afloat!.
Time to look after the UK first. Charity begins AT HOME!.
Pete
Greed by successive governments? Fuel duty (58p per litre) hasn't risen since 2011 so all price rises since then have instigated by the fuel companies to boost the amount they take. Granted there is extra VAT but that increased because of the fuel company rises.
The foreign aid budget is less than a third of the amount raised by fuel duty so the amount raised is hardly all spent on "keeping foreign countries who HATE us afloat!." is it? Indeed, if all the tax reductions which could supposedly have been made as a result of suggestions in posts in the last few years had happened the foreign aid budget would be negative
Peter if you are going to quote me please quote the whole post as it the whole of it is relevant..roy
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Wasn't the tobacco price hike designed to reduce smoking and the NHS bill. Looks like they got it right for a change....What ,more than it is suffering now ?
Increased taxes do not increase the tax take. Just the opposite usually happens. Over the last 14 years they quadrupled cigarette & tobacco prices by raising taxes & the result is 1 billion a year less tax than in 2002.
When fuel was at 1,30€/litre here many hauliers were on the point of bankruptcy as they could not increase prices charged.
What is needed here is alternative/new, large scale manufacturing & investment, but it isn't likely to happen.
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Wasn't the tobacco price hike designed to reduce smoking and the NHS bill. Looks like they got it right for a change....
Hard to believe DD when the boss of BP just awarded £14 Million for last years work, and this in a monopolyI got halfway through typing a lengthy reply concerning the oil market dynamics and then decided not to bother as I've written it many times before. Suffice to say that very many variables affect the pump price of retail fuels, but believe it or not greed by the oil companies is not actually one of them, though of course they are duty bound to make money for their shareholders......
I would love to have his lawyer write my contracts!!Hard to believe DD when the boss of BP just awarded £14 Million for last years work, and this in a monopoly
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Good answer DD, but how many suppliers are there that I can use to fill my car up, the fact they all make huge profits suggest it's a monopolyI would love to have his lawyer write my contracts!!
It is an obscene remuneration for a loss making company, but like most business leaders, the package is probably calculated mathematically based on a number of factors. Taking extraordinary items out of the results (such as oil spill compensation) the company is probably doing as well as could be expected. That does not excuse it, but does go a little towards explaining it. He should have voluntarily rejected his bonuses before 59% of the shareholders voted it down.
Back to your counterpoint, of course there is a difference between personal and corporate greed, but I do not understand the reference to a monopoly. BP certainly isn't that, in fact it is mostly American nowadays. The point was that big oil companies regard the retail petroleum business as a necessary evil and most have either divested or franchised it out. There is little or no profit to be made in storage, transportation, refining or sales; the only real profit for any of the oil majors is getting the stuff out of the ground. It is a massively competitive business where tenths of a percent make a huge difference to the bottom line and this was my point about greed - corporate greed plays very little part in the cost of retail fuel.
On the subject of BP and the macondo well compensation, they were well and truly hung out to dry by vested interests in the USA, from Obama (boot on BP's neck) downwards. Noted that the BOP manufacturer was Halliburton and they very quickly and conveniently paid up a relatively small fine and case virtually closed, whilst BP carried the can, encouraged by a legal system whereby even cat-houses in NOLA claimed recompense for alleged loss of business without substantive proof.
Thanks. I've spent my whole life in the oil/marine business, retiring as a global manager for a part of a Swiss company. Still follow the business closely, though.Good answer DD, but how many suppliers are there that I can use to fill my car up, the fact they all make huge profits suggest it's a monopoly
In terms of competition when was the last time that a new player came to the market
Your clearly very knowledgeable regarding the oil business DD, can you answer something that's bugged me for years why do garages sell in Litres yet car manufactures quote MPG as a means of how efficient there cars are, without looking I don't know how many litres to a gallon why not use LPG (litres per gallon)
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Except for USA where they use US gallons which is 3.785 I think. Yeehah.....In the EU they use litres per 100kms.
Oh & there are 4,454L = 1 gallon.
Is it all designed to confuse the customer, with the added advantage of being able to charge more, you clearly know the market DDThanks. I've spent my whole life in the oil/marine business, retiring as a global manager for a part of a Swiss company. Still follow the business closely, though.
Ok, your first question first, though very hard to explain in a few words.....
Size is everything, which is why the minor players have been absorbed. It costs billions to build a refinery and nobody apart from the majors can afford to do this. To exacerbate the situation, small refineries are just not competitive and usually shut down. This is why the majors either sell or shut refineries - see the number in the UK that have been either sold or closed in the last 20 years.
An example of where it all goes wrong...... https://en.m.wikipedia.org/wiki/Petroplus
Recommended reading is this....
https://en.m.wikipedia.org/wiki/The_Prize:_The_Epic_Quest_for_Oil,_Money,_and_Power
I can lend you my copy if you PM me your details - it would be a pleasure.
The second question is easier to answer. We are almost the only people that sell in litres and report in MPG. All of Europe use the standard litres per 100km which makes more sense. It is simply a legacy from the imperial system as us poor Brits don't "get" litres (apparently)
One thing that used to drive me mad was dealing with the yanks. All shipowners deal in cubic metres, Celcius and metric tonnes with the exception of crude oil which is still categorised in US barrels (or kilo litres if you are Japanese) as the density varies hugely from crude to crude. So all shipowners expect their cargo and bunker fuel inspection reports to be metric. No issues except for the home of the brave and the land of the free who still deal in barrels, Fahrenheit and long tons, except for the Mississippi where they like cubic feet and short tons They had no idea about metric stuff.....cue duelling banjos
Hope that clarifies a little
....... no more than any other business. I could tell you about the underhand tactics of one particular oil company's procurement department that would make your toes curl. All day high level meeting, tough negotiating, all shake hands on a deal and by the time I had got back to the office there was an email demanding another 5% or they would cancel the contract. My response was on the lines of "thanks, please go ahead and cancel"Is it all designed to confuse the customer, with the added advantage of being able to charge more, you clearly know the market DD
Thanks for the link, I will read it, you never know I might change my mind that they are not a bunch of thieving barstewards
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In the EU they use litres per 100kms.
Oh & there are 4,454L = 1 gallon.
...... and this in a monopoly
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