Sudden spike - very clever - jamie745

So after the Office of Fair Trading somehow declare the petrol market to be in perfectly good health, my local garage puts the price up by 4p a litre the following day.

*sarcastic slow clap*

Oh well done. Very good.

Sudden spike - very clever - veryoldbear

They saw you coming. Did they chortle with glee?

Edited by veryoldbear on 02/02/2013 at 16:22

Sudden spike - very clever - madf

You must never read the news..

"Fuel campaigners are warning petrol prices might jump 4p per litre "in coming days"."

26th Jan

www.bbc.co.uk/news/business-21208524

And then you complain.

Those of us who keep up filled up in advance.

Edited by madf on 02/02/2013 at 17:10

Sudden spike - very clever - jamie745

I'm not bored enough to spend my entire day on the BBC News site.

Whenever a campaigner warns about a price going up, whoever controls that price thinks 'that's a jolly good idea....'

Sudden spike - very clever - Collos25

The real reason it went up in the UK and not mainland Europe is because the UK chancellor needed the money the vat and tax would bring in and he would not take the blame for increasing the duty.

Sudden spike - very clever - jamie745

So petrol stations have all increased the price just to do George Osborne a favour?

Hardly. Tax has either increased or it hasn't. There is no wiggle room.

Sudden spike - very clever - Collos25

No they have been told to by the CofE he needs the money somebody has to pay for his livestyle.Its supposed to be an increase in wholesale prices but it hasn´t gone up over the channel

Sudden spike - very clever - jamie745

what does the church have to do with petrol?

Sudden spike - very clever - Collos25

C= Chancellor E= Exchequer

Sudden spike - very clever - jamie745

The Chancellor can't tell anybody to do anything. He can raise taxes, that would make them raise prices but he can't just ring them up and say 'put the price up and give it all to me will you?'

Sudden spike - very clever - gordonbennet

It might only be a coincidence that senior chiefs of large oil companies get their share of gongs.

On the other hand it might be more than a coincidence.

Sudden spike - very clever - jamie745

The 'editors pick' of the comments on that article are typical BBC aren't they. The corperation resembles Pravda more and more each day.

Sudden spike - very clever - John Boy

The corporation resembled the banks when it compensated the boss for failure.

Sudden spike - very clever - jamie745

Well paying someone to leave is nothing new. Football clubs do it all the time. Roman Abramovich has paid more than a small countries GDP to sack managers down the years. The odd thing with the BBC is they paid him more than they had to. Like the worse you do the more you get paid.

Sounds like the job for me.

Sudden spike - very clever - gordonbennet

Like the worse you do the more you get paid.

A very British way of doing things, and there was me thinking the modern Beeb was anything but.

Sudden spike - very clever - carr

Oil is priced in USD and you are paying for your fuel in the toilet currency known as the pound Sterling.

The continuing weakness of the pound against the dollar and the Euro explains why the price of everything in the UK heads continually north. Just think of it as the price for not joining the Euro and trusting your savings to quality authorities like HMG and the Bank of England.

Edited by carr on 04/02/2013 at 07:16

Sudden spike - very clever - TeeCee

Whereas the price for joining the Euro is that instead of prices going north, most of your money heads south.

The effect is much the same.

Sudden spike - very clever - jamie745

If we'd joined the Euro we'd have had interest rates far lower than they should've been for the first 7 years and would've ended up with an even worse boom and crash than we did. The Euro may be holding up remarkably well on the exchanges but unfortunately that's whats killing southern European economies. The Euro is far too expensive for the likes of Greece/Spain et al, yet the political will of the Stalinesque EU to prop the thing up keeps the nightmare rolling.

Gordon Brown may have been a destructive moron but I thank the almighty he kept us out of the Euro. The fact we can control our currency (interest rates etc) is a major advantage for the UK over the 17 Eurozone members who can't.

Sudden spike - very clever - Hamsafar

www.guardian.co.uk/news/datablog/2012/nov/12/uk-fu...a

Here is historical fuel price with tax breakdown.

Sudden spike - very clever - carr

The Euro may be holding up remarkably well on the exchanges but unfortunately that's whats killing southern European economies. The Euro is far too expensive for the likes of Greece/Spain et al,

Indeed, the Euro has held up remarkably well on the exchanges ever since it was launched.

The fact that your main objection to joining suggests that the UK economy is in the same boat as that of the PIGS, really tells you all you need to know about the pound's weak buying power, the need to raise taxes and hence the high price of fuel.

Edited by carr on 04/02/2013 at 20:17

Sudden spike - very clever - jamie745

...your main objection to joining suggests that the UK economy is in the same boat as that of the PIGS...

I didn't say that at all. Greece has lost 25% of it's economy in 5 years, nearly a third of companies have gone bust since 2008 and they've seen their democratically elected Prime Minister removed by the EU and their nation taken over by three foreign officials.

Spain has youth unemployment at over 50%, the worst private debt record in the developed world and a shockingly high home repossession rate meaning Spanish citizens are jumping off balconies to their deaths every single day.

Italy has to put up 20% of the money to bail Greece out next time, so they themselves will then default in the manner of a Ponzi scheme and there's simply not enough money in Europe to bail Italy out. Italy's also had its democratically elected leader removed by the EU and is now run entirely by a cabinet of unelected technocrats - ie EU puppets.

Ireland interestingly fought for 500 years for their independence and within a relatively short length of time have given it away again by joining the EU and the Euro. Irelands been bailed out once and bailing them out 20 times wouldn't change the fact they're using a currency hopelessly unsuited to their economy and economic cycle.

By comparison the UK isn't in too bad a shape. We've lost 3% of our economy since 2008, not 25%. Yes Sterling has had it's worst fall in recent history but still being in control of our currency is invaluable. May I point out Sterling is still stronger than the Euro.

My objection to joining was/is simple; It cannot be in your national interest to give up control of your currency, as the Euro has proven. The political consensus in 1990 was that Britain should join the ERM - a decision Labour and Lib Dems supported - and they were wrong. Likewise in the late 90s we had Lords, senior politicians, businessmen with knighthoods and the rest of the establishment telling us we should join the Euro.

Thank a higher power we ignored them.

Sudden spike - very clever - carr

May I point out Sterling is still stronger than the Euro.

No you may not. A pound bought €1.60 in 2000, now it buys €1.16. A couple of years ago it nearly reached parity. This is the euro in 'crisis' by the way, what does that say about the state of the UK economy?

Having 'control' of your currency has meant a constant erosion of it's relative value and an increase in the price of imports. Higher fuel prices is one of the consequences. It's a bit lame defending a weak pound and then complaining when your petrol goes up a few pence.

Sudden spike - very clever - jamie745

No you may not. A pound bought €1.60 in 2000, now it buys €1.16. A couple of years ago it nearly reached parity.

Right now £1 buys 1.16EUR, so the pound is still stronger, thank you very much. Even if it wasn't it wouldn't change the fact the Euro (apart from for Germany) has been a total disaster for the vast majority of people. Politicians and big investors have done ok, but everybody else has been royally rogered.

This is the euro in 'crisis' by the way, what does that say about the state of the UK economy?

Very little. It says the EU leaders are so pathalogically fanatical about preserving their misguided political dream - which is destroying democracies, lives, businesses and economies all over Europe - that they'll back it with all the money they haven't got to keep it afloat.

It's a bit lame defending a weak pound and then complaining when your petrol goes up a few pence.

The pound didn't experience a massive fall between Friday and Saturday last week, hence my cynical post on here. The problem with fuel prices is the Government. In nominal terms the price of our pre-tax fuel hasn't really changed much in the last 5 years.

Sudden spike - very clever - madf

"The pound didn't experience a massive fall between Friday and Saturday last week, hence my cynical post on here. The problem with fuel prices is the Government. In nominal terms the price of our pre-tax fuel hasn't really changed much in the last 5 years"

Anyone who knows anything about oil knows crude oil is priced in US$

On 5th Feb 2008 the Pound bought $1.965

On 5th Feb 2013 the Pound bought $1.5657

Depreciation 20.32%

Sudden spike - very clever - jamie745

What are you suggesting? We join the dollar? Swings and roundabouts. 10 years ago the pound was so strong we got $2 for £1.

Sudden spike - very clever - carr

Right now £1 buys 1.16EUR, so the pound is still stronger, thank you very much.

On that basis GBP is 'stronger' than any currency in the world apart from a handful like the Kuwaiti Dinar.

they'll back it with all the money they haven't got to keep it afloat.

You need to Google BoE Quantative Easing.

I'm surprised they appointed that Canadian to be boss of the BoE while we have homegrown economics geniuses strolling the streets of Ipswich.

Sudden spike - very clever - Bromptonaut
The pound didn't experience a massive fall between Friday and Saturday last week, hence my cynical post on here. The problem with fuel prices is the Government. In nominal terms the price of our pre-tax fuel hasn't really changed much in the last 5 years.

Eh? I've not looked at the detail but the price of a barrel of crude has been up and down like a w****'s drawers since 2008. Drivers include stop/go growth and political uncertainty in Mid East and North Africa.

Other factors are the £/$ exchange rate and that, probably at the instance of speculators, the wholesale price of refined diesel or petrol move independently of crude prices. Diesel and petrol prices also move independently of one another.

The rate of duty has not changed since 2011 and rounds at 58p/litre. The VAT element of course changes as 0.2p of every penny increase goes to the taxman but that's hardly indicative of Govt being the sole problem.

The big supermarkets continue to milk local markets. Filled up in Sainsbury, Fosse Park Leicester on Sunday at 137.9. Today at Sainsbury Weedon Rd Northampton it's 141.9. A gap of 3-4p/litre has been constant between those sites for the last 8-9 years.

I'd love to see Watchdog get on the case of why.

Edited by Bromptonaut on 06/02/2013 at 11:10

Sudden spike - very clever - jamie745

The rate of duty has not changed since 2011 and rounds at 58p/litre. The VAT element of course changes as 0.2p of every penny increase goes to the taxman but that's hardly indicative of Govt being the sole problem.

The Government are at least the main problem. It's that 58p of tax and a further 20p of VAT which causes the problem. I have no problem with paying what something is actually worth and petrol is worth 55p a litre - and retailers margin et al.

You need to Google BoE Quantative Easing.

At what point did I say the British Government or supposedly independent - thanks Gordon - Bank of England have done a brilliant job? Nowhere, because they haven't. I merely pointed out why the Euro is a horrific mistake and is destroying democracies and lives across the continent. Your argument seems to be that because Sterling has been mismanaged then we should've joined the Euro and been in an even worse position now?

I'm surprised they appointed that Canadian to be boss of the BoE while we have homegrown economics geniuses strolling the streets of Ipswich.

Well the establishment are all fanatical about preserving the Euro dream to the detriment of most of the continent so anybody who questions the EU wisdom will never rise to the top anyway, but that's not the point;

Isn't it interesting that Canada and Australia both have rather big banking sectors, yet no bank in either of them countries required Government help? Banks in Canada and Australia stuck to the old sensible rules, where as America and Europe thought it was some brave new world where we'd changed all the rules.

Canadian has more credentials than most here.

By the way, Ipswich?! Ugghhh.