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Petrol prices have risen by 63% in the last year!

Community Veteran
Posts: 26,379
Thanks: 634
Fixes: 8
Registered: 10-04-2007

Petrol prices have risen by 63% in the last year!

Having just added some more to the mortgage to fill the car up I did some calculations to work out how much of the increase was down to Gordon and how much down to the oil companies.
Taking figures from http://www.theaa.com/motoring_advice/fuel/ I looked at the UK average fuel price and the percentage of the price that was tax (fuel duty and VAT) for March 2009 and March 2010.
MonthAverage pump priceTaxPrice excluding tax
March 2009
89.2p
71.3%
25.6p
March 2010
113.8p
64.3%
40.63p

That's a 63% rise in the price excluding tax! I'd seen comments about the profits the oil companies are making but I hadn't realised to what extent the price of the petrol had risen.
jelv (a.k.a Spoon Whittler)
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21 REPLIES
Moderator
Moderator
Posts: 25,789
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Registered: 14-04-2007

Re: Petrol prices have risen by 63% in the last year!

And according to news reports crude has fallen substantially in recent months.
Customer and Forum Moderator.
Product of the Tyrell Corporation
jmd
Grafter
Posts: 2,933
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Registered: 30-07-2007

Re: Petrol prices have risen by 63% in the last year!

Here it is 115.9 at Sainsburys and 116.9 at Tesco!!
Moderator
Moderator
Posts: 17,254
Thanks: 905
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Registered: 11-01-2008

Re: Petrol prices have risen by 63% in the last year!

For my local ones we've gone from:
Brand    : Shell
Distance : 0.44
Price    : 96.9p
Updated  : 13-03-2009
to
Brand    : Shell
Distance : 0.44
Price    : 114.9p
Updated  : 14-03-2010
Will Moderate For Thanks
gswindale
Grafter
Posts: 942
Registered: 05-04-2007

Re: Petrol prices have risen by 63% in the last year!

isn't it only a 59% increase?
Community Veteran
Posts: 6,735
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Registered: 02-02-2008

Re: Petrol prices have risen by 63% in the last year!

Fuel prices are inevitably a "politically sensitive" topic, but who remembers when the Fuel Price Escalator was introduced, who by, and what the initial rate (excess over RPI) was?
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: Petrol prices have risen by 63% in the last year!

And it's due to increase again in April unless the chancellor stalls the increase in duty that he has already announced Angry
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Petrol prices have risen by 63% in the last year!

I get a weekly free e-mail with price surveys, this is the last year, I wasnt keeping them before that
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Petrol prices have risen by 63% in the last year!

just remembered my fuel top up records cost per litre, some in Cornwall, Some in Scotland, most in Essex
Community Veteran
Posts: 18,551
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Registered: 12-08-2007

Re: Petrol prices have risen by 63% in the last year!

Speaking to a lady this afternoon whose family own one of the largest car hire firms in Essex.  She said that they have not passed on all the fuel increases in the past year but are having to revue their rates now.
Community Veteran
Posts: 3,826
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Registered: 24-09-2008

Re: Petrol prices have risen by 63% in the last year!

Isn't the oil price linked to the $, as the £ falls against the $. Barrel oil price increases.
Will be interesting to plot pump fuel costs against both £ price and $ price.
Still getting flashbacks of sequences from the film 'crude awakening' (watched it a few weeks ago), predicted world shortage of oil would commence within next few years and that we had passed the point of 'Peak Oil' by a couple of years.
(reaches for prophet of doom hat). Read somewhere that the "begining of the end" of Hydro-Carbon Man would be wild fluctuations in supply and demand of Oil as various governments 'stockpile' reserves.
Interesting read, (although 10 years out of date) was THE HUBBERT CURVE : ITS STRENGTHS AND WEAKNESSES by J.H. Laherrère at http://dieoff.org/page191.htm
Community Veteran
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Registered: 02-02-2008

Re: Petrol prices have risen by 63% in the last year!

Jay Leno (on Top Gear?) had an interesting viewpoint. He thought transport would move on to other power sources leaving petrol for the "cherished vintage" toys, such as MG's etc. etc.
He will probably be proved right.
Community Veteran
Posts: 18,551
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Registered: 12-08-2007

Re: Petrol prices have risen by 63% in the last year!

Journeys, yes the oil price is pegged to the $.  Always seems to go up when the £ is weak but never seems to come down when it is strong. Sad
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: Petrol prices have risen by 63% in the last year!

Just had my weekly update on petrol prices in my area from http://www.petrolprices.com/
Cost of fuel in my area today is from 115.9p to 119.9p
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Petrol prices have risen by 63% in the last year!

News item on BBC Essex this morning.  Custome checking Diesels for Red Derv  (Duty free dyed fuel) recent check they have recovered a large amount from road vehicles, not sure if it was 16000 or 60000 litres.  they are not sure whether to sell it or destroy it.
Bloody stupid