Fuel price discussion thread (was ‘chaos’)

MissChief said:
Oil companies are announcing record profits for Q1 2022, some are making £10 BILLION or more in three months. One executive said they have so much money swilling around they don’t know what to do with it all.
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Of course companies like Shell made negative 20 billion in Covid, so swings and roundabouts, surprisingly no one was putting their hands in their pockets for them then?
 
sandys said:
Of course companies like Shell made negative 20 billion in Covid, so swings and roundabouts, surprisingly no one was putting their hands in their pockets for them then?
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We put our hands in our pockets for them every year anyway?

odi.org

G20 Backtracks on Fossil Fuel Funding Phase-Out in COVID-19 Recovery

G20 governments still spending more than half a trillion USD on oil, gas, and coal each year, new study reveals.
odi.org odi.org

G20 governments still spending more than half a trillion USD on oil, gas, and coal each year, new study reveals.
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sandys said:
Of course companies like Shell made negative 20 billion in Covid, so swings and roundabouts, surprisingly no one was putting their hands in their pockets for them then?
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Its amazing oil went negative for a bit in the USA and I remember £1 a litre for petrol over here. 2 years later and the crap has well and truly hit the fan and it hasn't landed yet.
 
Forecasters are expecting the prices increases to continue for the next 5 years ending up being 41% more by 2027 so fuel will be over £3 per litre :eek:
 
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tom_e said:
It's fine we'll all be in EVs by then, right...right!?
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You understand the actual cost of fuel is pretty small. The tax which is a percentage is what is causing the majority of all this. When EV's become the norm the government will tax it to high oblivion as well.

Remove fuel duty and the tax on that and you instantly wipe 60-70P off the price of petrol.
 
adam cool dude said:
You understand the actual cost of fuel is pretty small. The tax which is a percentage is what is causing the majority of all this. When EV's become the norm the government will tax it to high oblivion as well.

Remove fuel duty and the tax on that and you instantly wipe 60-70P off the price of petrol.
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It was not a serious comment, we all know one way or another the government will get their pound of flesh even if we're running on fresh air.
 
tom_e said:
It was not a serious comment, we all know one way or another the government will get their pound of flesh even if we're running on fresh air.
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Can only get cheaper for those of us not relying as much on grid electricity though, they can't tax what I put into my car via that, only what miles I cover, the type and size of car I have. Perhaps the UK will have a much larger uptake in personal solar/wind much faster than expected if they do start doing this. :)
 
NotAGolf said:
When you pay at pump, isn't the limit they pre authorise £99? If so, are we going to have to do multiple payments to fill a tank?!
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I already hit the £99 limit before the tank filled a couple of weeks ago. I guess now I'll only be able to get 3/4 of a tank in one go.
 
adam cool dude said:
You understand the actual cost of fuel is pretty small. The tax which is a percentage is what is causing the majority of all this. When EV's become the norm the government will tax it to high oblivion as well.

Remove fuel duty and the tax on that and you instantly wipe 60-70P off the price of petrol.
Click to expand...
Isn't duty applied per litre, rather than a percentage?

Vat is a %, of course, but isn't the biggest tax component.
 
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