"Petrol prices could hit a record high of £1.20 a litre in the next few weeks, according to the AA."without mentioning how much of the price of a gallon of petrol at the pump is taken in duty and tax. I was going to refer to ABD's useful table but that only goes up as far as £1.099 a litre, being a year or so old. So I used the ABD Fuel Tax Calculator and that shows that with a pump price of £1.20 per litre, VAT accounts for £0.1787 per litre, fuel tax for £0.5619 per litre; so tax and duty makes up 61.72% of the price paid at the pump or put another way - the tax and duty rate on petrol is 161.22%. Now why would the BBC not be interested in revealing that sort of information?
Tuesday, 16 March 2010
Why is the petrol price going up?
The BBC manage to report that
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