Petrol Prices
Joined: Jul 2001
Posts: 2,589
Likes: 0
From: Isle of Man
What really incenses me is that petrol prices react straight away, even though the oil that's sold at today's prices is for future delivery, to be shipped to the refinery, refined, packed into tankers and finally delivered to the pumps
The golden ratchet really works here and when oil prices take a dip, the delay in pump price rises takes for ever and usually never happens at all
Rant over
The golden ratchet really works here and when oil prices take a dip, the delay in pump price rises takes for ever and usually never happens at all
Rant over
Registered User
Joined: Oct 2002
Posts: 10,138
Likes: 0
From: Lothians
The % of the pump price that is tax is so high, that in these cases the government should adjust the level of duty.
The 500% + rate of tax on fuel creates a disproportionate amount of additional revenue for the chancellor - the govt should aim to keep the overall amount of fuel tax revenue the same, by lowering the tax rate when the base cost of fuel rises dramatically.
As demand for fuel seems to be largely inelastic, the govt would not lose out, yet would reduce the affect of high crude on the economy.
Of course that is highly unlikely to be adopted by that money grabbing merchant banker compatriot of mine, Gordon Brown - he must be wetting himself with laughter just now.
The 500% + rate of tax on fuel creates a disproportionate amount of additional revenue for the chancellor - the govt should aim to keep the overall amount of fuel tax revenue the same, by lowering the tax rate when the base cost of fuel rises dramatically.
As demand for fuel seems to be largely inelastic, the govt would not lose out, yet would reduce the affect of high crude on the economy.
Of course that is highly unlikely to be adopted by that money grabbing merchant banker compatriot of mine, Gordon Brown - he must be wetting himself with laughter just now.
Registered User
Joined: Jun 2001
Posts: 1,593
Likes: 0
From: New Forest
[QUOTE]Originally posted by neil955 If the world forces (market or otherwise) push up crude prices, should the government have to react by dropping the level of tax, and thus assuring a shortfall in their income?
Registered User
Joined: Oct 2003
Posts: 4,788
Likes: 0
From: upright on the Black Stuff
.. and of course, u have to refill the bloody thing every 120-130 miles...
there are more sensible bikes of course, which will do 200+miles per tank and in comfort too... and they still come with some sporting heritage.
there are more sensible bikes of course, which will do 200+miles per tank and in comfort too... and they still come with some sporting heritage.