Muttleys V8 Posted April 18, 2008 Posted April 18, 2008 Just been said on the news this morning that the cost of a litre of fuel could hit £1.50 by September, the Government does not seem interested in reducing fuel duty because this will cost them money (and they are not expected to dip into there own pockets to pay for their own MP's expenses (but that is a completely different discussion)) Question is? when will you have to take a serious look at selling the Westfield or any petrol driven vehicle due to the raising cost of fuel? Answers on a postcard please! Steve Quote
CedricTheBrave Posted April 18, 2008 Posted April 18, 2008 I noticed Deisel is £1.20 L at my local now I can't understand how they are getting away with it Quote
JeffC Posted April 18, 2008 Posted April 18, 2008 Im fortunate on this I can do my buying over the phone/net now so my anual mileage has dropped from 35k down to 8k per anum, so I only fill the tin top once every few weeks now the westy is only used on the track so to fill 3 jerry cans couple of times a month shouldnt be so bad but talking to a guy that runs a transport company with a fleet of fuel hungry wagons and his fuel bill is a killer and the fuel hike is hurting him bad as hes struggling to pass the price increase on to his customers Quote
neilb Posted April 18, 2008 Posted April 18, 2008 It might have something to do with oil prices being at $115 / barrel And it's not just the UK in the USA they have had a 75% increase in the last 3 years and petrol in France is more expensive than it is here and they also have vat at 19.6% Quote
pistonbroke Posted April 18, 2008 Posted April 18, 2008 Where's the "will run it on whisky instead cause its cheaper " option same old same old mate , the rich gets more as the poor gets less Quote
Paul Hurdsfield - Joint Manchester AO Posted April 18, 2008 Posted April 18, 2008 The way fuel prices have risen the past few months is scandalous But when I started driving I could get 4 gals for a pound In the fuel crisis in the early seventies, we all said 'when it get to a pound thats it' Well the pound a gallon came and went and look at the price now So I havent voted cos theres no option for feck it I'll keep on driving no matter what Quote
Blatman Posted April 18, 2008 Posted April 18, 2008 The government will have to act, or at least be seen to look like it's acting. Fuel is a fundamental feature for *everything*and increasing costs simply cannot continue to be absorbed by the good will of the people who haven't increased prices, or gone on strike for better wages. Inflation in fuel *must* lead, eventually, to inflation generally. With the credit crunch in place too, the short term outlook is bleak. I'm not a fan of Brown, but I really hope that the stability and "future proofing" he claims to have built in to the economy is real and not just politics. otherwise we're all screwed for the next year or so, or until someone actually takes some action instead of talking about taking action Quote
Guest Posted April 18, 2008 Posted April 18, 2008 It might have something to do with oil prices being at $115 / barrel And it's not just the UK in the USA they have had a 75% increase in the last 3 years and petrol in France is more expensive than it is here and they also have vat at 19.6% Enginearin Wrote : "A general load of s**t! with a rant thrown in for good measure! " Quote
Guest Posted April 18, 2008 Posted April 18, 2008 QUOTE It's got virtually f**k all to do with oil being $115/bbl! Agreed - it is all about the level of public spending required to pay for our infrastructure and the index linked pensions of those who have maintained it in the past. They have to raise the tax revenues somehow, and if it is not petrol it will be something else. In Holland, where pay scales are not far off UK, someone earning €40k per year will pay 52% tax on any bonuses, holiday pay etc. Same everywhere. Quote
PeP Posted April 18, 2008 Posted April 18, 2008 Too right Enginearin. Another interesting fact, Oil $114 per barrel, enchange rate $2 per £1, equals approx £57 per barrel. A few years ago, Oil $75 per barrel, at $1.5 per £1, equals approx £50 per barrel. Not a lot of difference really so where has the increase gone??? Everyone harps on about Oil companies profits but they make very little in this country and pay massive taxes to this government, although that won't last much longer cos' all the big earners are going to leave soon, driven out by this shower of s**t and then taxes will have to rise again to cover all the lost tax payers Quote
Guest Posted April 18, 2008 Posted April 18, 2008 It's got virtually f**k all to do with oil being $115/bbl! Agreed - it is all about the level of public spending required to pay for our infrastructure and the index linked pensions of those who have maintained it in the past. They have to raise the tax revenues somehow, and if it is not petrol it will be something else. In Holland, where pay scales are not far off UK, someone earning €40k per year will pay 52% tax on any bonuses, holiday pay etc. Same everywhere. That's all very nice, but they are making a killing and are effectively changing the rate of tax (though increased fuel price) without just coming out and saying it. From what i remember (no references i'm afraid) the total revenue from fuel duty and road fund licence is around £47 billion... with the recent fuel price rises this REVENUE will be going up by huge amounts! Enginearin wrote a load of crap here too! I don't like stealth tax! If you feel lucky not to live in Holland where at least the tax system seems open and up front, I'm very pleased for you <!--emo& By the way, I don't earn 40k Euro and am not likely to so i couldn't give a stuff about 52% tax for the rich! That's why the rich always do better in this country... the poor all aspire to be rich, so don't kick up a fuss about taxing them too much in case they actually get there someday! Sorry, that came across as confrontational.... it wasn't meant to be, but i can't be arsed to re-write it Quote
neilb Posted April 18, 2008 Posted April 18, 2008 It might have something to do with oil prices being at $115 / barrel And it's not just the UK in the USA they have had a 75% increase in the last 3 years and petrol in France is more expensive than it is here and they also have vat at 19.6% It's got virtually f**k all to do with oil being $115/bbl! It's the fact that the government's rate of fuel duty is over 185%... so for every 10 pence/litre fuel cost goes up the government adds an extra 18.5p making a 10p rise look like a 28.5p rise! If fuel cost at the pump goes to £1.50/L then the government will be taking an extra £0.28 pence per litre in tax at this point!!!!! Based on: Current UL @ £1.07/L Price Rise to get to £1.50/L = 43p Actual cost of fuel in the rise = 15p Tax on the additional fuel cost = 28p It's disgusting! The only fair way to calculate it would be to use a fixed xxp per litre tax. This would insulate the consumer a little from the volatility in the market... But what am i saying... this would mean that the government would miss out on all the EXTRA tax revenue from the rising cost of fuel! Fuel duty is not a % of the price it is a fixed amount per litre, as detailed here, note that there is no difference on the duty for low sulphur petrol and diesel yet at the pump you pay more for diesel Quote
M11 BRD Posted April 18, 2008 Posted April 18, 2008 I don't know what the cut off point would be obviously I think the more it increases the less the Westie would come out Use a VW TDI as everyday mileage plugger so save there, although had it 5 years, £38 to fill it up back then, last fill £57 Quote
Guest Posted April 18, 2008 Posted April 18, 2008 It might have something to do with oil prices being at $115 / barrel And it's not just the UK in the USA they have had a 75% increase in the last 3 years and petrol in France is more expensive than it is here and they also have vat at 19.6% It's got virtually f**k all to do with oil being $115/bbl! It's the fact that the government's rate of fuel duty is over 185%... so for every 10 pence/litre fuel cost goes up the government adds an extra 18.5p making a 10p rise look like a 28.5p rise! If fuel cost at the pump goes to £1.50/L then the government will be taking an extra £0.28 pence per litre in tax at this point!!!!! Based on: Current UL @ £1.07/L Price Rise to get to £1.50/L = 43p Actual cost of fuel in the rise = 15p Tax on the additional fuel cost = 28p It's disgusting! The only fair way to calculate it would be to use a fixed xxp per litre tax. This would insulate the consumer a little from the volatility in the market... But what am i saying... this would mean that the government would miss out on all the EXTRA tax revenue from the rising cost of fuel! Fuel duty is not a % of the price it is a fixed amount per litre, as detailed here, note that there is no difference on the duty for low sulphur petrol and diesel yet at the pump you pay more for diesel It seems i was GROSSLY mistaken. I stand corrected! It's just the VAT revenue that rises with price then! In a funny sort of way you have made me feel better about UK tax Quote
carpetstu Posted April 18, 2008 Posted April 18, 2008 The wife has a car; I have a Jeep (already paying £300 a year road tax on it) plus the Westfield in the garage. We were talking the other day, about fuel costs, and have said if it gets much worse the Jeep or the wife’s coupe will not get renewed at the end of the lease! Its ridiculous, we both work hard running the business, and we have to consider cutting back due to the damn government costing us off the roads!! When is the General election? Quote
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