So there are a number of reasons why Britains fuel prices are higher overall, but these haven’t yet explained why is diesel more expensive than petrol in the UK? Gazprom has said it will cut prices—probably by … The last time the Government tried to increase the price of fuel there was national riots. Petrol prices will hit an 11-year high this long weekend. I have long thought that full bank account portability, allowing customers to keep the same account number despite moving between banks, would help. There are just claims and no proof. I put it to you, why is petrol so cheap? Why Petrol And Diesel Are So Expensive There has been 77% slump in price of Indian basket of crude oil from $132.47/barrel in July 2008 to around $30/barrel currently… Lola Nayar 08 February 2016 As a comparison for normal unleaded fuel - Tesco 120.9p, Shell 121.9, BP 125.9! How is it cheap? They need to explain much more clearly why they are changing their prices, or keeping them constant, and divulge more information about profit margins. The petrol is so cheap that petrol smuggling is a mult… At the time, duty accounted for 58p, VAT for 22p, the companies that supplied the crude and refined it got 48p and the distributors (the petrol stations and trucks) got just 5p. I honestly have no idea why it's so expensive in Adelaide, I live in Ballarat (100km+ away from Melbourne) with just under 100,000 people and LPG here is 52cents pretty much everywhere, the 20ish servos in town are all pretty comparable (with Caltex/Supermarket-Servos usually being abit more) petrol is … In recent months, South Africans have felt the frustration of rising petrol and diesel prices that have made travel far more costly. The quick answer is that the most expensive petrol is often in Stornoway or the Isle of Lewis. Unless you’ve already made the switch to an electric (or hydrogen fuel-cell) vehicle, the regular schlep to a petrol station is an inescapable and expensive drawback of owning a car. The stark reality is that even if there were collusion of some sort – and again, that is entirely unproved – the worst case scenario probably would be that prices are 1p-2p too high some of the time, a trivial problem compared with 79p “overpricing” caused by taxes. On current pump prices, tax accounts for 63.4pc of the money handed over by motorists. Cheap? Somebody may one day be able to prove or demonstrate this, of course, and anybody guilty of breaking the law would have to be prosecuted severely, but so far the empirical evidence has been entirely lacking. In fact, some of this is clearly happening today: The value of the pound has just slumped to a 14-month low against the dollar, partly as a result of strong employment figures from the US, which is always bad news for motorists. Despite George Osborne’s best efforts, petrol retailing remains a joint venture between the taxman and the private sector, with the latter merely a minority shareholder. It’s no surprise that 7 out of the 10 cheapest countries for petrol are in the oil-rich Middle East, with the vast majority of the oil coming from the area. The news has been slightly less miserable of late for motorists and any business that uses buses, lorries or vans. So when you start talking about .410,28 and 16 ga. shells in general they can be more expensive depending on how you buy them Natalie Brown. Why fuel prices have become so expensive. The oil is then refinedin petroleum so that it is suitable for use in a car, before being transported to the garages where you buy it. At the moment, oil prices are high. The taxes that the UK government make up 60% of the price of a litre of fuel, which means that those taxes are making your petrol more than two and a half times as expensive to buy. so we are paying almost half the money that we feel have the money of the cost of petrol is for taxes. In this article, we’ll be taking a closer look at just why petrol is so expensive in the first place, and how you can budget effectively should petrol prices increase in the future. To illustrate what happens, let’s go back to this time last year when the price of a litre of petrol was around £1.33 – in other words, before the prices fell. Our horrendous tax rates are the real reason why petrol is still so expensive. Despite George Osborne’s best efforts, petrol retailing remains a joint venture between the taxman and the private sector, with the latter merely a minority shareholder. The rural petrol prices may be high because there is a captive market there and so the fuel stations can easily extract more money from the motorist who doesn't have any other choice. Without the taxes petrol would be no where near as expensive as it is at the moment. Petrol prices leapt to the Rs 85 per litre mark in New Delhi and Fuel is essential and an increase hurts family budgets and contributes to the cost of living. However it is suprising that this whole process isn't the most expensive part of petrol! The really big issue is tax. I have been a faithful user of Shell, partly because my company sponsors me a fuel card that happens to be by Shell. They also tend not to pick up as much 'cross-selling' of products such as snacks and groceries thus eating into their profit margins further. When the [Australian] exchange rate depreciates, it will increase the prices of imported petrol,” said Abbas Valadkhani, a … Over time many countries around the world have increased and decreased their thirst for oil. For the 4 days or so I have been keeping an eye on the petrol prices in Melbourne. 1. 13 votes, 17 comments. When it comes to reducing costs, opting for cheaper supermarket unleaded is a convenient way … “There are a number of factors, like the exchange rate and oil prices. Why Is Petrol So Expensive? The increased oil price affects the wholesale price of refined petrol and has a flow-on effect at the pump. For many Venezuelans, access to cheap petrol is considered a birthright. So if the pound falls in value, the price of petrol on sale in the UK would go up; and vice versa. That means that fluctuations in the value of the pound against the greenback matter just as much as changes in the price of oil itself, which of course is priced in dollars. In the summer of 2012 they were more than three times the American gas price and more expensive than coal. However some rural places are more expensive that others, for example Stornoway on the Isle of Lewis in Scotland boasts (?) Here's why filling up your car keeps getting more expensive. This may well be the case but it is difficult to verify, especially since all cars are slightly different when it comes to which fuel performs best. I just don't get how they think it's worth so much more! In the last month the oil price has been around what it was at the start of the year and the pound is almost on a par with what it was. On balance, this latest inquiry is likely to be nothing more than a costly waste of time. They point to the price of oil, down by around a quarter since June, and compare it unfavourably with the 6pc or so drop in the price of petrol during the same period. But the last thing anybody needs is yet more useless, disruptive, top-down bank break-ups that don’t really change anything or more inane, demagogic banker-bashing. By far, the number one reason oil prices are so expensive is simply supply and demand. HustleRussell. For example, shell charges 132.9 for unleaded 91. However it is far more likely that a combination of higher overheads and lack of negotiating power with the oil companies is the real culprits. a price of 148p/Litre in July 2011 which was a whopping 12p a litre more than the national average and the Shetland Isle prices were breaching 1 pound fifty for unleaded petrol. Just before I go to my conclusion, I also like to tell you that the tracks on patrol was 948 per per when the government to cover office in 2014, and that diesel was 356. There have often been cases of a weakening sterling cancelling out entirely a drop in the price of oil. 1. Petrol Prices The average two days ago was £1.24, which means that prices have fallen quite substantially since August. Money off Vouchers And why is petrol so expensive right now? But the reality is that the market is giving customers what they want, even if the outcome is inefficient: the public would be enraged if it were forced to pay a fee for every bank account and every cash machine transaction. Since the start of the year petrol was going up about a penny a week. We have explained why Oil prices are increasing and this is purely our Opinion The average price of Petrol around the world is ₹77.20 per liter as per 18 Why is petrol so expensive right now? In London, and other parts of the country, it's not unheard of for pints of beer to be £5. In the case of Stornoway and the Shetland Isles the expensive petrol can probably be explained by all these factors and also by the fact that the petrol has to be transported across water. 4 Reasons, Why is petrol so expensive in South Africa : #PetrolPrice It is safe to say that you are asking why is petrol so costly in South Africa? Shell has also been always active in their marketing, making me feel that Shell is indeed a superior and reputable fuel brand.
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