fuel duty dropped by 1p as of tonight - Page 2 - SV650.org

phi-dan · 23-03-11, 04:00 PM

Quote:

Originally Posted by G

I really feel for people in the sticks with no petrol station competition or supermarket fuel.

Supermarket fuel down here is 133.9 (when I filled up last night)
Non-supermarket stations are few and far between, so the supermarkets set the price (high) and everyone else follows.

23-03-11, 04:28 PM

Nice sentiment but... Barn door? Horse gone?

andrewsmith · 23-03-11, 05:21 PM

Well everytime the refinery price goes up a penny (per litre) the Treasury makes about 1p too in VAT, or in english £500,000,000 a year.
That is plus the gains from the 2.5% VAT increase, another £1,000,000,000 (at least)

It is a case bolting the stable door after horses gone.
If they do want to make the economy grow; cut duty by 10p as all the calculations for the last budget was done on 122.9 (average pump price- predicted)

TamSV · 23-03-11, 06:30 PM

It's interesting to note how the fuel duty cut is being funded.

There's an increase in a supplementary tax being charged to the oil companies. They will need to get that extra tax from their customers. So fuel duty comes down but the underlying price of fuel increases.

If the oil price falls to the level where the supplementary tax is no longer paid then the pump prices could be reduced. However, at that point, the fuel duty increase comes back in.

Smoke and mirrors anyone?

23-03-11, 06:42 PM

134.9 at every petrol station in Macclesfield, stupid prices so a penny off aint gonna make an indent as far as I'm concerned

Nick_69 · 23-03-11, 07:00 PM

Ive been finding the all the local shell's around me are bout 131.9 and everything else is bout 133.9

timwilky · 23-03-11, 07:34 PM

About £1.28 round here

23-03-11, 08:48 PM

According to the BBC news site the key points say fuel duty dropped by 1p, but then further down that road tax will increase with inflation apart from HGVs. Isn't inflation 4.4% at the moment???

23-03-11, 08:57 PM

SV tax going up from £38 ish to just over £40.

Technically it should be a 1.2p drop at the pump as you pay VAT on the Duty, which is 20% I'll bet it's not though.

23-03-11, 09:14 PM

Quote:

Originally Posted by tom-k6

how did you manage to put £21 in an SV??!! fuel must be mega high in london. it will bring my cheapest fuel station near me down to £1.26.9

Even at £1.27 you'll still be paying over £20 if you almost empty it.

1p will make bugger all difference, even the cancelled 5p rise will make bugger all difference.

23-03-11, 04:28 PM	#12
DaveyF Guest Posts: n/a	Re: fuel duty dropped by 1p as of tonight Nice sentiment but... Barn door? Horse gone?

23-03-11, 05:21 PM	#13
andrewsmith Member Mega Poster Join Date: Apr 2010 Location: Newcastle upon Tyne, Just south of salad dodging country Posts: 7,750	Re: fuel duty dropped by 1p as of tonight Well everytime the refinery price goes up a penny (per litre) the Treasury makes about 1p too in VAT, or in english £500,000,000 a year. That is plus the gains from the 2.5% VAT increase, another £1,000,000,000 (at least) It is a case bolting the stable door after horses gone. If they do want to make the economy grow; cut duty by 10p as all the calculations for the last budget was done on 122.9 (average pump price- predicted) __________________ RIP Reeder 20/07/1988 - 21/03/2012. Always missed squire!!! Every year we meet old friends, gain some new ones, lose old ones and you always remember them all. “Live as if you were to die tomorrow. Learn as if you were to live forever.” Mahatma Gandhi

23-03-11, 06:30 PM	#14
TamSV Member Mega Poster Join Date: Feb 2010 Location: Troon, Ayrshire Posts: 1,812	Re: fuel duty dropped by 1p as of tonight It's interesting to note how the fuel duty cut is being funded. There's an increase in a supplementary tax being charged to the oil companies. They will need to get that extra tax from their customers. So fuel duty comes down but the underlying price of fuel increases. If the oil price falls to the level where the supplementary tax is no longer paid then the pump prices could be reduced. However, at that point, the fuel duty increase comes back in. Smoke and mirrors anyone?

23-03-11, 06:42 PM	#15
MR UKI (1) Guest Posts: n/a	Re: fuel duty dropped by 1p as of tonight 134.9 at every petrol station in Macclesfield, stupid prices so a penny off aint gonna make an indent as far as I'm concerned

23-03-11, 07:00 PM	#16
Nick_69 Member Join Date: Jul 2009 Location: Guildford, surrey Posts: 785	Re: fuel duty dropped by 1p as of tonight Ive been finding the all the local shell's around me are bout 131.9 and everything else is bout 133.9 __________________ Was SV650S K9 Now GSXR 600 K9

23-03-11, 07:34 PM	#17
timwilky Member Mega Poster Join Date: Mar 2004 Location: Not in Yorkshire. (Thank God) Posts: 4,116	Re: fuel duty dropped by 1p as of tonight About £1.28 round here __________________ Not Grumpy, opinionated.

23-03-11, 08:48 PM	#18
Baggy Guest Posts: n/a	Re: fuel duty dropped by 1p as of tonight According to the BBC news site the key points say fuel duty dropped by 1p, but then further down that road tax will increase with inflation apart from HGVs. Isn't inflation 4.4% at the moment???

23-03-11, 08:57 PM	#19
MiniG Guest Posts: n/a	Re: fuel duty dropped by 1p as of tonight SV tax going up from £38 ish to just over £40. Technically it should be a 1.2p drop at the pump as you pay VAT on the Duty, which is 20% I'll bet it's not though.

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