UPDATE: 11 February 2015 -- Petrol prices have dropped but the Treasury is still getting their full share of around £2billion a month. It would not be surprising, if the Tories win the petrol prices will go up again, like a rocket. It would not be a surprise all this sudden drop of crude oil price is for the benefit of a Tory win. Through their bankers, financiers and Bilderberg they have a long reach. As for the oil producers it will not make any difference if they reduce it for a year. They got more than enough money sitting about.
UPDATE: 7 February 2014 -- At the moment the petrol prices are reduced by around £0.10 which gives the car owners a great relief but is amazing that all of sudden it can be done in spite of the Chancellor threaten, last September, to put a tax rise of 5p on it. Has it anything to do with the general election coming up in 2015? Hopefully voters do not fall for all the promises the second time; promises in 2010 which none had been fulfilled. What a con!
UPDATE: 20 August 2013 - A news report stated the motorist is to be warned there is 5p per litre tax rise on the way and will be in force before the end of next month. The Petrol Retailer Association gives the reason of rising cost of crude oil and the unrest in Egypt and Syria. The increase would bring the cost of petrol close to 145 which will hit hard with all the other increases of 10 per cent on energy supplies and railways. Now only the postage which is always increased before Christmas and bus fares which also always go up around January are missing. Yet David Cameron does not lift a finger to stop it.
The AA official figure shows that motorist handed over £2billion in fuel duty to the Treasury. This is for one month alone. The increase of petrol sale generated in June a £929million. In spite of that petrol prices are rising again, on the quite. Diesel also contributed £929million of fuel duty last month.
It is a disgrace to find out that the motorist has to pay almost 40pc on the price of petrol and with added VAT it comes to 60pc per litre. Surely that must be highest priced petrol in Europe if not in the world.
The fuel duty increased from 45.82p per litre in 2001 to 57.95 as of today.
Under pressure from the newspaper The Sun and its campaign “Keep It Down” the Chancellor George Osborne frozen the duty for the last two years. Since it is the last two years would my suspicion be wrong to think that it could be in the next budget in September?
It wasn’t so long ago that prices reach a £140.9 and the Transport Union of the haulage drivers threatened with strike. The Petrol Tanker Drivers promised they would join and back them up. This would have meant that every major road exit would have been blocked and the country would have been at a standstill. Even David Cameron and George Osbourne could not effort it and the prices went down to £130.9.
However, ever since prices started to increase again on the quiet. At the moment they are at 137.9 already. Will this Government ever learn? Every one can see their method and it is no madness. They let it go up slowly and when they have to face the consequence of a possible strike they bring it down again but in the meantime they have million of pounds in their pocket. It is a cat and mouse game but of course to the cost of the motorists.