PeteMorris Posted December 12, 2014 Author Share Posted December 12, 2014 What is the relationship with the cost of oil to the cost of petrol at the pump, compared to other costs such as tax etc? I'm not certain what you mean! (sorry)....are you inferring there isn't a relationship between the cost of oil and the cost of petrol at the pumps?... Link to comment Share on other sites More sharing options...
JFKvsNixon Posted December 12, 2014 Share Posted December 12, 2014 I'm not certain what you mean! (sorry)....are you inferring there isn't a relationship between the cost of oil and the cost of petrol at the pumps?... No I ask asking what the relationship was. In those exact words! Ok. For example, say tax and other costs make up 50% of the cost of petrol, a 10p reduction in the cost of oil would only see a 5p reduction in the cost of petrol. Link to comment Share on other sites More sharing options...
PeteMorris Posted December 12, 2014 Author Share Posted December 12, 2014 No I ask asking what the relationship was. In those exact words! Ok. For example, say tax and other costs make up 50% of the cost of petrol, a 10p reduction in the cost of oil would only see a 5p reduction in the cost of petrol. Yes I can appreciate that...Some costs 'are' fixed....But hasn't crude dropped by something like 60%....(can't seem to find a percentage stat)....I would have thought, that that sort of drop would have translated into something a little more than just over 10p a litre at the pumps Link to comment Share on other sites More sharing options...
JFKvsNixon Posted December 12, 2014 Share Posted December 12, 2014 Yes I can appreciate that...Some costs 'are' fixed....But hasn't crude dropped by something like 60%....(can't seem to find a percentage stat)....I would have thought, that that sort of drop would have translated into something a little more than just over 10p a litre at the pumps So you need to find the what the relationship is then before you can judge if the drop in oil prices has translated into a fair drop at the pumps. Link to comment Share on other sites More sharing options...
barleycorn Posted December 12, 2014 Share Posted December 12, 2014 I thought this was interesting...Government statistics for Petrol prices....it shows that since jan2014, Petrol prices have only dropped by 10.42 pence.....Compare that with drop in crude oil prices... https://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics Oil was ~$100/barrel in Jan compared with ~$60 today. That's a $40 drop per barrel, or in UK terms 200L. That equates to 20 cents per litre or ~12.5p/l. jb Link to comment Share on other sites More sharing options...
PeteMorris Posted December 12, 2014 Author Share Posted December 12, 2014 So you need to find the what the relationship is then before you can judge if the drop in oil prices has translated into a fair drop at the pumps. I don't know where that information is....Sorry!.... So does it sound about right to you?.... Link to comment Share on other sites More sharing options...
JFKvsNixon Posted December 12, 2014 Share Posted December 12, 2014 I don't know where that information is....Sorry! If only there was some sort of way to search the internet for the afore mentioned information. So does it sound about right to you?.... I have no idea, because I don't know the relationship either. Link to comment Share on other sites More sharing options...
PeteMorris Posted December 12, 2014 Author Share Posted December 12, 2014 If only there was some sort of way to search the internet for the afore mentioned information. I have no idea, because I don't know the relationship either. Call me a cynical old sod, but I can't help having the feeling that we're all being 'fleeced'....Whether that's right or wrong, I don't know.... Link to comment Share on other sites More sharing options...
flynnroy Posted December 12, 2014 Share Posted December 12, 2014 Call me a cynical old sod, but I can't help having the feeling that we're all being 'fleeced'....Whether that's right or wrong, I don't know.... we are been fleeced lowest fuel in Europe but tax on top the highest ? i remember 76p a gallon and 3star lol / Link to comment Share on other sites More sharing options...
Obelix Posted December 12, 2014 Share Posted December 12, 2014 Yes I can appreciate that...Some costs 'are' fixed....But hasn't crude dropped by something like 60%....(can't seem to find a percentage stat)....I would have thought, that that sort of drop would have translated into something a little more than just over 10p a litre at the pumps Don't forget that oil is priced in dollars and the dollar has risen strongly as well over the past few weeks relative to sterling. ---------- Post added 12-12-2014 at 14:16 ---------- I don't know where that information is....Sorry!.... So does it sound about right to you?.... 30 seconds of google fu leads me to this. http://webarchive.nationalarchives.gov.uk/*/http://www.hmrc.gov.uk/budget2013/tiin-2522.pdf Link to comment Share on other sites More sharing options...
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