Brown's plan for the cost of petrol

[blacjac]

I'd really like to see a breakdown somewhere of how the price of fuel is made up.

£x.xx wholesale cost
£x.xx tax
£x.xx VAT
£x.xx profit

£x.xx Total

Then compare this to other countries.

Is this information available anywhere?

It seems mad that everytime the wholesale cost goes up, the tax and VAT percentage go up as well. Where is all this extra money going? Is there a hidden agenda here? Stockpiling it for next year when 2,000,000 people lose their jobs due to a broken economy and the Government need to start handing it back out in benefits, etc?

some info here
http://www.petrolprices.com/fuel-tax.html
Only has prices up to 2007, but back then the average price per litre was 95.1p, of which 63.7p was tax

[Moscow Mule]

I'd really like to see a breakdown somewhere of how the price of fuel is made up.

£x.xx wholesale cost
£x.xx tax
£x.xx VAT
£x.xx profit

£x.xx Total

Then compare this to other countries.

Is this information available anywhere?

It seems mad that everytime the wholesale cost goes up, the tax and VAT percentage go up as well. Where is all this extra money going? Is there a hidden agenda here? Stockpiling it for next year when 2,000,000 people lose their jobs due to a broken economy and the Government need to start handing it back out in benefits, etc?

Is this what you're looking for?

[Moose423956]

some info here
http://www.petrolprices.com/fuel-tax.html
Only has prices up to 2007, but back then the average price per litre was 95.1p, of which 63.7p was tax

I hate to have to say this, but under New Liebour the percentage of tax is 66%. Under the Tories it was 76%. Thank God for New Liebour is all I can say.

[BrilloPad]

I hate to have to say this, but under New Liebour the percentage of tax is 66%. Under the Tories it was 76%. Thank God for New Liebour is all I can say.

And the tories introduced the fuel escalator.

[Peoplesoft bloke]

Basically he is probably saying "comrades, cut the price and allow me to increase the duty, or I'll hit you all with a windfall tax on your obscene capitalist profits instead".

Hmm Windfall taxes on North Sea Oil and Bank profits....where have I heard that before? Oh yes, Geoffrey Howe's second budget under Thatcher, 1981. He also abolished the lowest 25p rate of tax leaving a basic rate of 33%, the raving pinko leftie!

[DimPrawn]

Hmm Windfall taxes on North Sea Oil and Bank profits....where have I heard that before? Oh yes, Geoffrey Howe's second budget under Thatcher, 1981. He also abolished the lowest 25p rate of tax leaving a basic rate of 33%, the raving pinko leftie!

See, I told you it was Maggies fault.

[blacjac]

I hate to have to say this, but under New Liebour the percentage of tax is 66%. Under the Tories it was 76%. Thank God for New Liebour is all I can say.

This fuel escalator forced prices up from one of the lowest in Europe to now one of the most expensive. When it was first added, fuel prices rose by 3 pence a litre and tax contributed to 72.8% of the total cost. By 1997 the escalator had added 11.1p to the cost of unleaded petrol and was at 75%. It didn't get any better when the conservatives left office and Gordon Brown took over, as the escalator increased and 3 pence was added per litre. This took tax up to an incredible 81.5% of the total price of fuel.

Can't be bothered to work out who is right.....

[Moose423956]

Can't be bothered to work out who is right.....

I just did some simple calculations based on the figures on the graph. Obvious really.

[Peoplesoft bloke]

Since the tax is actually two bits - the fuel duty per litre which is fixed and VAT which is a percentage, only the VAT increases (automatically) when prices rise - I deduce that the proportion taken must reduce as prices increase - am I right?

[PerlOfWisdom]

I hate to have to say this, but under New Liebour the percentage of tax is 66%. Under the Tories it was 76%. Thank God for New Liebour is all I can say.

No it's not - the tax is more than the cost before tax - therefore over 100%