Fuel Prices

Discussion in 'Current Affairs' started by slim, Mar 26, 2008.

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  1. Oil Prices
    In March 2007 the price of oil was $97.26 per barrel

    source:
    http://www.mdcdatum.org.uk/FarmDataPrices/oilprices.html

    In March 2008 the price of oil is 111.80

    In March 2007 the £1 bought $1.9614
    source:
    http://uk.news.yahoo.com/afp/20080326/tbs-commodities-energy-oil-

    asia-price-5268574.html

    source:
    http://www.hmrc.gov.uk/exrate/usa.htm

    March 2008 the £1 bought $1.99290



    Average fuel price March 2007

    Unleaded Diesel Super

    Unleaded
    SUPERMARKET AVERAGE 87.2 90.7 90.3
    Per cent taken as Tax


    70.3 68.2 68.4

    source:
    http://www.theaa.com/motoring_advice/fuel/fuel-price-archive.html

    Average fuel prices march 2008

    Unleaded Diesel Super

    Unleaded
    SUPERMARKET AVERAGE 105.4 110.3 110.3
    Per cent taken as Tax 62.7 59.93 60.5

    source:
    http://www.theaa.com/onlinenews/allaboutcars/fuel/2008/march2008.

    doc

    So though we have had an approx rise of 15% in the price of

    crude, the price at the pumps has increased in some cases by more

    than 18% and in the case of diesel more than 21%.
    The fuel companies cannot put the blame entirely on the

    government though, take a look at the percentage taken as tax. It

    has decrease by at least 8% in all cases.

    Your views please:
     
  2. janner

    janner War Hero Book Reviewer

  3. I tried this and the two garages have both recently CLOSED!!!

    How can that be I ask myself.
     
  4. Margins on fuel are quite low, generally about 2-3%, the profitability comes from the attached shop or from maintenance services. If either of them aren't particularly profitable as well then liquidity becomes vulnerable. Independents don't generally have much in the way of assets to fall back on, and even many branded stations are independents. The big chains are also interested in profitability and if a station isn't performing then it's worth closing and selling the land for other uses.

    One of the snags for retailers is that they have to bear quite a lot of the taxation when buying in their stock, so it means quite a significant investment up front; bad for the cash flow.
     
  5. The annoying thing with the Guberment is the 2ppl Tax increase, when the fact is that crude has increased they are already getting more than that at the pump through VAT at 17.5%
    So they are receiving more than they budgeted for anyway

    Give us a break

    Jack McH
     
  6. At the moment theres a refining problem with deisel and they can't keep up --demand is outstripping supplies so the price naturally goes up :bball: :bball:

    Its true with the local garage/filling stations they don't have much of a profit margin on fuel sales and if the buy in prices are fluctuating then its a lot of extra cash to lay out. The only winner is the tax man .


    :nemo: :nemo:
     
  7. The reality has always been that for all but the very fortunate few the retailing of road fuel has had to be attached to some other business to be worthwhile. As for the tax having to be paid up front, that is perhaps not quite so much a problem in a business where the stock is turned over several times a month, several times a week for some. Even so running a filling station is a low margin high turnover business, and that is one which can be very vulnerable to market fluctuations.
     
  8. thanks for the very intresting? Sitrep/Synopsis Slim take it you will be giving your bus pass an airing from now on/ best regards Sheik Mohammed al Maktoum at my oil well in Nad al Sheba/ Dubai ?
     

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