£5 a gallon by Christmas...

papa smurf · 17-11-2009, 07:33

Petrol prices are set to soar past 110p a litre - £5 a gallon - in the run-up to Christmas.

It will be the highest since September 2008 and a rise of 26 per cent since the start of this year.

Motorists will suffer further misery in the New Year when the Government imposes a planned 2.5 per cent increase in VAT.

Experts blame the continuing rise in forecourt prices on speculators, who are stockpiling massive amounts of oil.

Read more: http://www.dailymail.co.uk/news/arti...#ixzz0X6Fn3CDw

17-11-2009, 07:52

Quote:

Originally Posted by papa smurf

Petrol prices are set to soar past 110p a litre - £5 a gallon - in the run-up to Christmas.

It will be the highest since September 2008 and a rise of 26 per cent since the start of this year.

Motorists will suffer further misery in the New Year when the Government imposes a planned 2.5 per cent increase in VAT.

Experts blame the continuing rise in forecourt prices on speculators, who are stockpiling massive amounts of oil.

Read more: http://www.dailymail.co.uk/news/arti...#ixzz0X6Fn3CDw

I don't think the media should be using the line about the "Government imposing a planned 2.5% increase in VAT" - we all knew that the rate of VAT is 17.5% and it was only a temporary measure to reduce it down to 15% until January 2010

heero_yuy · 17-11-2009, 09:14

Quote:

Originally Posted by NEONKNIGHT

I don't think the media should be using the line about the "Government imposing a planned 2.5% increase in VAT" - we all knew that the rate of VAT is 17.5% and it was only a temporary measure to reduce it down to 15% until January 2010

But they increased the duty at the same time to offset the 2.5%, now they put the 2.5% VAT back and no change of duty. Yet another stealth tax increase.

chris9991 · 17-11-2009, 09:42

All these speculators stockpiling the oil - can't we go and nick it off them. How hard can it be to find, it must be pretty big to force the price up

LondonRoad · 17-11-2009, 09:42

This recession is hitting so hard that it's getting too expensive to dowse yourself in petrol.

When are they opening up the restaurant at the top of the BT tower?

Flyboy · 17-11-2009, 12:43

The average price for petrol in two thousand and eight was 107 pence per litre. The average price so far (to August) this year is 96 pence per litre. In two thousand, the duty was 47.21 (59.90 in today's terms) pence per litre and today it is 54.19 pence per litre. So, in real terms, the treasury is taking less per litre in duty that it did nine years ago.

Gary L · 17-11-2009, 12:51

Quote:

Originally Posted by Flyboy

The average price for petrol in two thousand and eight was 107 pence per litre. The average price so far (to August) this year is 96 pence per litre. In two thousand, the duty was 47.21 (59.90 in today's terms) pence per litre and today it is 54.19 pence per litre. So, in real terms, the treasury is taking less per litre in duty that it did nine years ago.

I very much doubt it.

Flyboy · 17-11-2009, 12:52

Well, you do the math and prove me wrong. If you can do that I will concede.

Gary L · 17-11-2009, 12:54

Quote:

Originally Posted by Flyboy

Well, you do the math and prove me wrong. If you can do that I will concede.

I don't need to prove a doubt. do the math again and prove me right

Flyboy · 17-11-2009, 13:03

Quote:

Originally Posted by Gary L

I don't need to prove a doubt. do the math again and prove me right

Gary L · 17-11-2009, 13:09

Quote:

Originally Posted by Flyboy

Ok you're correct. I don't want to be seen as doubting logic and mathematical certainties.