Quote:
Originally Posted by Kizzy
We should have really low energy and petrol prices then...but we haven't.
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Petrol prices are low. 58p of each litre of petrol is tax and the tax doesn't change, therefore the price changes are more dramatic than they might look. Petrol falling from £1.15 a litre to 99p a litre = a 14% price drop (which in itself is significant).
Take the tax out of that equation; 57p a litre down to 41p a litre = 28% drop in price.
Also consider that the cost of fuel also covers the cost of production (you don't fill your car with crude oil, it's goes through extensive refinement) and also distribution (transport, the cost of running the pumps and garages themselves) both of which are also mostly static, it's not just the raw price of oil.
We filled up yesterday for 97.7p/litre. I don't remember fuel being that low ever... I remember the "£1" blockade shenanigans and I was about 12 or 13 maybe so that was at least 17 years ago. I'm sure plenty of you oldies remember it being much cheaper
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Gas and Electricity are of course another matter entirely. There's a huge, insidious energy molopoly there that's been going on for years with absolutely obscene profit margins.