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Petrol prices could hit a record high of �£1.20 a litre in the next few weeks, according to the AA.

 

Increases in the wholesale price of petrol since January are to blame for the rise in forecourt prices, the motoring organisation said.

 

It urged the Chancellor, Alistair Darling, to postpone the introduction of a planned 3 pence rise in petrol duty due to come in on 1 April.

 

The AA said families now pay �£52 a month more on petrol than a year ago.

 

The average petrol price is currently just over �£1.15 a litre.

 

"The UK is barely out of recession, yet petrol prices threaten to rise to record prices seen during the boom of 2008 - shortly before the collapse into recession," said AA president Edmund King.

 

"If families, drivers on fixed incomes and those on low pay were unable to cope with record prices then, they are even less likely now."

 

'Complete disgrace'

 

The price of oil is a major determinant of the price of petrol, and yet the current oil price of about $80 a barrel is far below the $147 a barrel-high seen in the summer of 2008, the last time petrol prices neared �£1.20 a litre.

 

This has led many to question why petrol costs so much right now.

 

Lindsay Hoyle, Labour MP on the Commons business committee, told the Daily Telegraph: "Crude oil has gone up this year, but nothing like the rise in petrol prices. Motorists are being legally mugged at the forecourt by petrol companies."

 

He called the current high price of petrol a "complete disgrace".

 

Analysts said increased refining costs and the weakening of sterling against the dollar - the currency in which oil is priced - helped to explain some of the increase in petrol prices.

 

http://news.bbc.co.uk/1/hi/business/8569525.stm

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It's a disgrace how these companies can continually record billion dollar profits per year and yet they are never told to reduce there prices. It's us that have to grin and bear it.

 

Hate those bastards.

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Robbing basturds, thats what they are, apparently diesel is cheaper than petrol before the vat/tax is added and then it goes through the roof.. Pat on the back to the supermarkets who continue to keep prices low, but the carry on with the dollor/ pound thing! thats just ripping the pish!!!

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The exchange rate is a valid explanation of part of the movement in prices. If the $ is trading at 50p then oil at $80 a barrel is only 40 quid. Currently we are looking at an exchange rate of about 1.5 which means that the $ is trading at about 53 quid - that is a significant increase (30%) in how much a UK company has to pay for its petrol. And, of course, it will pass some of (or should that be all...) that cost onto the end consumer.

 

However, in playing devil's advocate above they are indeed robbing basturts. Because much as they will say that they have to pay a higher price the reality is that these companies are conglomerates where they can easily work-around the exchange rate - there again, in doing so, they would be using transfer-pricing and the UK government would not be happy if they were transfer pricing at artificially low rates (as it means reduced revenue for them).

 

In my opinion, the oil companies are indeed thieving fuckers BUT the UK government robs you every bit as much as the oil companies. All you need to do is look at how much they pay in the US for their fuel. The vast majority of the price of petrol in the UK is for VAT and tax is it not ? And the government tell us that this is to pay for running & maintaning the roads etc - do you think the standards of the motorways and streets is particularly good ?

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If everybody in the UK never bought petrol for a week it would hurt the chunts

 

But it wouldnt Ian. Because you would still need to use them the following week.

 

The only thing that would hurt them is if everyone made the decision to cycle to work ala calscot, or walk everywhere or use the bus (more people on a bus than a car) or to carpool (again, to get more people into one vehicle) - but lets face it, we are too lazy to take those steps.

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In my opinion, the oil companies are indeed thieving fuckers BUT the UK government robs you every bit as much as the oil companies. All you need to do is look at how much they pay in the US for their fuel. The vast majority of the price of petrol in the UK is for VAT and tax is it not ? And the government tell us that this is to pay for running & maintaning the roads etc - do you think the standards of the motorways and streets is particularly good ?

.

The AA conducted an investigation into how much money was being spent on the UK roads a number of years ago & it's probably not changed too much since then. Their findings were that well under 10% of the revenue the government collects from UK Road Tax & Fuel taxes were actually being spent on anything even remotely related to the roads...

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Its and absolute nightmare! We pay far too much for petrol, I have a 2008 1.8 Vauxhall Vectra SRI and drive approx. 15 miles per day to and from work sp 30 miles per day in total, then 2 times a week from Kinross, where I live, to Blackbrun, just the other side of Livingstone, where the band practise. I currently pay somewhere around �£260 per month on fuel alone, not including road tax!! and the motorway between Kinross and Perth that I drive every day is a disgrace, they have just finished about 2 months worth of road works on both sides of the motorway and the bloody thing is like a patch work quilt and still full of pot holes all over the place!

 

We do seem a bit helpless to this increase, the fat cats at the top must be rubing their hands together with glee! Bastards...

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The exchange rate is a valid explanation of part of the movement in prices. If the $ is trading at 50p then oil at $80 a barrel is only 40 quid. Currently we are looking at an exchange rate of about 1.5 which means that the $ is trading at about 53 quid - that is a significant increase (30%) in how much a UK company has to pay for its petrol. And, of course, it will pass some of (or should that be all...) that cost onto the end consumer.

 

However, in playing devil's advocate above they are indeed robbing basturts. Because much as they will say that they have to pay a higher price the reality is that these companies are conglomerates where they can easily work-around the exchange rate - there again, in doing so, they would be using transfer-pricing and the UK government would not be happy if they were transfer pricing at artificially low rates (as it means reduced revenue for them).

 

In my opinion, the oil companies are indeed thieving fuckers BUT the UK government robs you every bit as much as the oil companies. All you need to do is look at how much they pay in the US for their fuel. The vast majority of the price of petrol in the UK is for VAT and tax is it not ? And the government tell us that this is to pay for running & maintaning the roads etc - do you think the standards of the motorways and streets is particularly good ?

 

One week with no finances coming in is a hell of a lot of money for these firms and you wouldn't tank twice as much the following week as full is full and i imagine your work stays the same distance away.

Another way to do it would be if you picked out one player. If everyone agreed to tank at a smaller company and forced say Shell to drop their prices then the rest would have to follow. I agree though taking the bike is the best way to do it though. weather permitting i cycle 8 miles to my work regularly. It saves me about 100 euros a month.

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