Fuel Duty to go Up and Up and Up

Mon, 31 Aug 2009

On the basis of present plans, fuel duty will go up by 2.3p a litre on 1st September 2009, then by 2.5% on 1st January 2010, then by a further 1p a litre on 1st April 2009.

 

From 1st April 2009 Road Fuel Duties were (+ 15% VAT):

Fuel Duty on Petrol and Diesel = 54.2p/litre

Fuel Duty on Biodiesel = 34.2p/litre

Fuel Duty on Bioethanol = 34.2p/litre

Fuel Duty on LPG = 24.2p/kg

Fuel Duty on CNG = 19.3p/kg


From 1st September 2009 Road Fuel Duties are (+ 15% VAT to 31-12-2009, + 17.5% VAT from 1-1-2010):

Fuel Duty on Petrol and Diesel = 56.2p/litre

Fuel Duty on Biodiesel = 36.2p/litre

Fuel Duty on Bioethanol = 36.2p/litre

Fuel Duty on LPG = 24.2p/kg

Fuel Duty on CNG = 19.3p/kg


From 1st April 2010 Road Fuel Duties will be (+ 17.5% VAT):

Fuel Duty on Petrol and Diesel = 57.2p/litre

Fuel Duty on Biodiesel = 37.2p/litre

Fuel Duty on Bioethanol = 37.2p/litre

Fuel Duty on LPG = 25.2p/kg

Fuel Duty on CNG = 20.3p/kg

 

 

So a standard litre of unleaded petrol or diesel costing 105p a litre on 31/8/2009 cost 37.1p for the fuel + 54.2p fuel duty + 13.7p VAT.

 

From 1/9/2009, the same litre of unleaded petrol or diesel will cost 37.1p for the fuel + 56.2p fuel duty + 14p VAT = 107.3p.

 

From 1/1/2010, the same litre of unleaded petrol or diesel will cost 37.1p for the fuel + 56.2p fuel duty + 16.33p VAT = 109.63p

 

From 1/4/2010, the same litre of unleaded petrol or diesel will cost 37.1p for the fuel + 57.2p fuel duty + 16.5p VAT = 110.6p

 

Assuming no rise in the price of oil, that's a 5.33% increase in 7 months.

 

However, assuming a 10% rise in the price of oil, from 1/4/2010, the same litre of unleaded petrol or diesel will cost 40.81p + 57.2p fuel duty + 17.15p = 115.16p.

 

So that would be a 9.68% increase in 7 months.

 

Assuming a 20% rise in the price of oil, from 1/4/2010, the same litre of unleaded petrol or diesel will cost 44.52p + 57.2p fuel duty + 17.80p = 119.52p

 

So that would be a 13.83% increase in 7 months.

 

 

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.

CarFinance 247 Limited is acting as an independent credit broker