Quote:
Originally Posted by stayrich
Hi
I was talking to an executive from an oil company last week and he said that petrol will be at least £1.50 a litre by August and approaching £2.00 a litre by Xmas with diesel being even higher. We all have to realise that emerging economies are now swallowing precious resources that we in the west have taken for granted. The only hope we have in the UK is for the Government to reduce fuel duty but that leaves a huge hole in the public finances.
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Aah, but don't forget that every time the oil companies increase their price the Government gets an unbudgeted windfall in the shape of their 70% slice. Even if they cut the duty by 10% they would still be raking in the remaining duty and 17.5% VAT.