Budget - Fuel Duty

Silver_Star

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Well Mr Osborne seem to have come good, hopefully the price of crude will drop slightly once the Lybia issue is sorted (provided Japan don't push it back up again).....

"Fuel duty to be cut by 1p per litre from 6pm tonight. Fuel duty escalator that adds 1p to fuel duty on top of inflation each year to be cancelled for the rest of this Parliament"
 

jasonyw

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Well Mr Osborne seem to have come good, hopefully the price of crude will drop slightly once the Lybia issue is sorted (provided Japan don't push it back up again).....

"Fuel duty to be cut by 1p per litre from 6pm tonight. Fuel duty escalator that adds 1p to fuel duty on top of inflation each year to be cancelled for the rest of this Parliament"

you wont get the 1p cut immediately, they will try to hold on the price as long as possible to rip us off

rich people like him not hurt by the price rise even can afford to go skiing while we struggle at home. hypocrite
 

47p2

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Well 1p a litre isn't going to help us much, not when you look at how much the fuel has risen over the past 12 months.
 
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Well 1p a litre isn't going to help us much, not when you look at how much the fuel has risen over the past 12 months.

Granted, but it is better than a poke in the eye with a blunt stick. At least there is an end to the "escalator". However I haven't determined which other pot this reduced tax is going to be made up by. :rolleyes:
 

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you wont get the 1p cut immediately, they will try to hold on the price as long as possible to rip us off

rich people like him not hurt by the price rise even can afford to go skiing while we struggle at home. hypocrite

I have no idea what planet you are from [if return tickets are available, do let us know as we will have a whip round to pay your fare - there will even be enough left over to buy you something to eat], but if you read the appropriate part of the budget announcement it's quite clear.

Admittedly it might use some big words that you don't understand, so probably best you wait for the Daily Mail to confirm as that's obviously the only source you believe
 

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Well Mr Osborne seem to have come good, hopefully the price of crude will drop slightly once the Lybia issue is sorted (provided Japan don't push it back up again).....

"Fuel duty to be cut by 1p per litre from 6pm tonight. Fuel duty escalator that adds 1p to fuel duty on top of inflation each year to be cancelled for the rest of this Parliament"

Unless the price of a barrel of oil falls below $75 (being consulted upon).
 

Naraic

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you wont get the 1p cut immediately, they will try to hold on the price as long as possible to rip us off

rich people like him not hurt by the price rise even can afford to go skiing while we struggle at home. hypocrite

1p cut from 6pm today.
 

Naraic

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Well 1p a litre isn't going to help us much, not when you look at how much the fuel has risen over the past 12 months.

1p plus inflation will not now be added on next Friday.
 

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a step in the right direction, at least (hopefully)
 
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Drove past a Texaco on the way home and the price hadn't dropped. However Tesco had dropped by 1p.

In theory I would have thought a 1p drop in duty should have seen more than a 1p drop at the pumps as VAT is paid on the cost of the fuel plus the duty.
 

jasonyw

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Drove past a Texaco on the way home and the price hadn't dropped. However Tesco had dropped by 1p.

In theory I would have thought a 1p drop in duty should have seen more than a 1p drop at the pumps as VAT is paid on the cost of the fuel plus the duty.

What do you expect from chicanery magician osborne?:rolleyes:
 

Xtractorfan

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He already has had that 1p many times since the price of crude and the middle east started boiling over..
 

hairyg

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If I recall correctly, duty is charged when fuel is delivered to the filling station. So if a delivery arrived at 17:55 today the old rate of duty will apply. A delivery at 18:05 would be 1p cheaper, 1.2p inclufding the VAT.

Filling stations may reduce their prices when they refil their tanks. retailers like Tesco use fuel prices as a marketing tool so probably changed their prices at 18:00 today for effect.

Certainly a reduction in duty of 1p is welcome even if it doesn't make much difference to my weekly outgoings. I find it interesting to read the different views expressed in the various on-line newspapers and how the budget is represented. It will take a day or two at least for the implications to fully sink in.
 

Xtractorfan

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The fuel duty rebate will have a minimal effect on the transport industry.. other than that it will make absolutely no difference to the guy who uses 10 or 20 litres of fuel per day, which will take in a heck of a lot of the motoring public..
 

47p2

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Speaking with a mate in Edinburgh tonight, he fuelled up yesterday and passed the filling station today and noticed they had stuck 1p on the price of fuel since he filled up yesterday and will no doubt have dropped it 1p at 6:00pm tonight......

So much for us getting a 1p cut.
 


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