I’ve spoken many times about how most of the price of petrol in the UK is because of fuel duty/tax. In fact it’s about 2/3 of the cost, so only 1/3 of your money is for the basic product. Of course, HMRC likes to have a slice of everything but it’s staggering to think that, with fuel prices at all time highs, there was and is a plan for a 3p per litre increase.
Yahoo is reporting that a significant number of MPs are calling for action on fuel prices – after all so much of our industry and infrastructure relies on oil based commodities. There’s talk that the increase may be scrapped, but I wouldn’t hold my breath just yet. On top of that, if it is scrapped, look for an increase elsewhere as an alternative means for the government to still bring in the money.
Leave a Reply