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General Chat Thread, Oil Price Fixing For The Past 10 Years? in General; Link: BBC News - EU raids on oil firms raise petrol prices worries This is still under investigation but I ...
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    DaveP's Avatar
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    Oil Price Fixing For The Past 10 Years?

    Link: BBC News - EU raids on oil firms raise petrol prices worries

    This is still under investigation but I am sure that we all feel that we do indeed pay too much.

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    Grey-gear's Avatar
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    Does not really surprise me, just hope something is done so this problem is fixed and will not happen again.

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    After Libor, nothing surprises me.

    I see the BBC spin it as a motorist issue (call the RAC foundation! Get a picture of a petrol pump!), but in a society built and powered (mainly) by fossil fuel it affects us all.

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    Not surprised by this and i get the feeling that nothing will change.

    I am sure some one will get paid off to say "Nothing is happening here".

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    If the price has been artificially high for 10 years, all that will happen is the government will fine the companies some miniscule amount compared to the profits they will have made from it and tell them to stop being naughty. Then later that night they will all go for a knees up at some exclusive place that their friends int he oil companies pay for.

    Call me a cynic, but there will be no benefit to the man on the street at all. They aren't going to post us a refund.

  6. Thanks to Achandler from:

    LosOjos (15th May 2013)

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    CAM
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    They are only 10 years late reporting what everyone knew already!

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    jinnantonnixx's Avatar
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    I'm no economist, but doesn't it suit the government to keep prices high? After all, more VAT is collected from a higher price than a lower price.
    Last edited by jinnantonnixx; 15th May 2013 at 01:01 PM.

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    Galway's Avatar
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    Your right, your no economist.

    Im sure the government would much prefer the same price with less going to the oil companies and more coming to them in taxation.

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    tmcd35's Avatar
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    Quote Originally Posted by jinnantonnixx View Post
    I'm no economist, but doesn't it suit the government to keep prices high? After all, more VAT is collected from a higher price than a lower price.
    BP and Shell fixing the base price is a minor scandal compared with the taxmans share in fuel duty and VAT!

  11. Thanks to tmcd35 from:

    Flatpackhamster (15th May 2013)

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    Andrew_C's Avatar
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    I await my refund cheque with baited breath...







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    Not sure what to believe, the OFT declared the pricing was all find and dandy in January and we had the cheapest fuel in europe(pre-tax) - OFT rules out petrol prices investigation

    I guess the best we can hope for is a small discount in price followed by the government deciding there is room for a little more tax.. I hate the fact that a "good" price for petrol at the moment is 129.7(Asda), back in 2005 89p was expensive

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    Quote Originally Posted by tmcd35 View Post
    BP and Shell fixing the base price is a minor scandal compared with the taxmans share in fuel duty and VAT!
    Exactly. Three quarters of your fuel costs come from duty and VAT. It suits the government to pretend they aren't buggering us when they are.

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    Quote Originally Posted by Flatpackhamster View Post
    Exactly. Three quarters of your fuel costs come from duty and VAT. It suits the government to pretend they aren't buggering us when they are.
    wouldnt be so bad if they spent the tax on transport but it just goes to a general pot fine for vat but if you tax an activity shouldnt that activity get the benefits rather than as now roads that are more hole than road, poor public transport (outside london which is hevily subsidised) but i think i saw some figures showing that less than a 1/4 of what the motorist puts in in tax goes anywhere near roads

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    Personally I'd prefer lower VAT and/or scrap fuel duty and have an extra 1p or 2p on income tax. I'm sure some environmentalist now want's me locked up for heresy and someones gonna pipe up "but I don't drive, why should I pay extra for roads I don't use"...

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    Quote Originally Posted by tmcd35 View Post
    Personally I'd prefer lower VAT and/or scrap fuel duty and have an extra 1p or 2p on income tax. I'm sure some environmentalist now want's me locked up for heresy and someones gonna pipe up "but I don't drive, why should I pay extra for roads I don't use"...
    dosent sound unfair to me that way you are taxing on income rather than effectively taxing someone because they need to go somewhere



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