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Fuel price rant!
pmw - 28/10/08 at 10:11 AM

I've just been reading this ...


Link

If you read the commentary, I agree, tax is too high, but does the author REALLY believe that there is a strong correlation between oil and petrol price. It follows the trend for sure, but I hardly think it correlates. Look at the rate oil has fallen, and then compare to petrol. Whoever has written it looks like they're working for an oil company. Or am I missing something ??

[Edited on 28/10/08 by pmw]

Liam - 28/10/08 at 10:25 AM

LOL! Love the 'subtly tweaked' y-axis scales to make the corellation look so good!

smart51 - 28/10/08 at 10:55 AM

You'll notice that the cost of diesel was below that of oil at the beginning of the graph, rose faster than the price of oil 'till it overtook in the middle, then stayed higher whilst oil fell. Notice also that petrol rose more steadily than oil but has dropped in price more slowly as well.

Did anyone hear on the news this morning that BP or some other oil company has announced 50% higher profits this year than last. I bet that correlates well with this graph.

Paul TigerB6 - 28/10/08 at 11:09 AM

quote:
Originally posted by smart51
Did anyone hear on the news this morning that BP or some other oil company has announced 50% higher profits this year than last. I bet that correlates well with this graph.


Despite what many people seem to think, profits from petrol are a very small part of the overall profit these oil companies make. I get sick and tired of these interfering polititions having a go at the oil companies making a profit, and demanding they reduce prices when the government themselves are taxing fuel at extortionate levels and then taxing the oil companies on their profits on top of this!!!! The government's cut on a litre of fuel is approaching 70p whereas the oil companies make in the region of 2p or so!!!!!

Surrey Dave - 28/10/08 at 11:26 AM

The government are very good at glossing over the amount they cream of of fuel prices!!

They must think we are all stupid , it's really insulting to the public.

Am i right in thinking derv used to be the cheapest fuel ,(is it less refined?).

Amazingly as more people have diesel cars the price took off!!

Road Fund License , sorry Vehicle excise duty does not now have to fund road maintenance??!!

I reckon the motorists are paying for so much in this country.

maartenromijn - 28/10/08 at 11:32 AM

quote:

The government's cut on a litre of fuel is approaching 70p whereas the oil companies make in the region of 2p or so!!!!!



Is that 2p on the refined product? What about the margins on the crude oil? OPEC keeps the prices high. I bet they make huge margins. Like mentioned ^^^, the oil companies make higher and higher profits.

Phil.J - 28/10/08 at 12:21 PM

It's interesting to note that cooking oil is now more expensive than diesel. No longer worth putting it in your diesel tank to try to save a few bob.

skydivepaul - 28/10/08 at 01:05 PM

As a comparison the cost of oil to fuel is directly linked over here in states.

when oil was at $140+ per barrel everyone out here went mad as petrol was $4.00 a gallon.

now oil has dropped to $70 per barrel fuel has dropped to $2.50 per gallon at the pump. this drop of over 1/3 of the price has been in the last 3 months.

take from this what you will about the government stealing erm I mean TAX

dhutch - 28/10/08 at 01:32 PM

quote:
Originally posted by Liam
LOL! Love the 'subtly tweaked' y-axis scales to make the corellation look so good!

That is really bad!

Paul TigerB6 - 28/10/08 at 01:34 PM

quote:
Originally posted by maartenromijn

Is that 2p on the refined product? What about the margins on the crude oil? OPEC keeps the prices high. I bet they make huge margins. Like mentioned ^^^, the oil companies make higher and higher profits.


Thats about 2p profit or so just on a litre of fuel. The oil companies generally buy off OPEC at the traded price so its not them making the profit there. Where the likes of Shell and BP make the real money is all the other chemicals which are derived from oil. There's also obviously the exploration side from which they make plenty of money (and yet again the UK government make huge amounts of free cash from North Sea oil) but its safe to say its not the motorist who is funding the huge profit margins.

graememk - 28/10/08 at 06:24 PM

quote:
Originally posted by Phil.J
It's interesting to note that cooking oil is now more expensive than diesel. No longer worth putting it in your diesel tank to try to save a few bob.


its more than doubled in the last 18 months