Originally Posted by
Smarty
Just one of those questions that we ask ourselves from time to time but can never get a definitive answer.
Last year when Oil peaked at $147 a barrel we were paying 1.35 to 1.40 at the pumps.
Now with the favourable exchange rate of 1 Euro = 1.40 dollars and the cast of your barrel is $69 (love that price 69 !! ) we are paying1.19 to 1.24 at the pumps.
The cost of OIL is about 47% what it was this time last year yet we are paying a mere 10 to 15 cent a liter less. Surely it should be a lot less than this.
Is there a logical explanation for this.
Or is it the usual one that some greedy fuck is stroking us once again.
Opinions please......
Confused Dublin
Taxation is your explanation
If you take that you pay about 80+ cent a litre in tax then the actual "price of petrol" is the difference between what you pay and the tax. So basically if the Saudis were giving the oil away for nothing you would still be paying 80 odd cent a litre. and don't forget Lenihan stuck 8 more cents on petrol last budget.
Then there is also the cost of refining etc as well.
Its the Crips and the Bloods all over again