Petrol price action

[Tarbicus]

for a $11.86 gallon the non-tax portion is
$2.86....... which is divided by transportation costs, the share that goes to the owner/licence holder at the gas station etc....

you have confused the 50% UKduty on a barrel of oil, that is what the gov gets even before it gets it tax on petrol....

If the oil companies are being hit so hard then how come ExxonMobil are sitting on over $25 billion in the bank with virtually no debt left, the oil companies are actually in a position where they are buying back the public shares held by those outside of their companies, yet the basic price barrel has tripled since 2002? If they increase the price per barrel, that naturally increases the tax and duty on the barrel. Their profits are so obscene that they're now getting slammed with windfall tax. The notion that speculators are driving up the price is a red herring and probably accounts for a minor effect as no matter what the initial upfront payment is, it still has to be paid at the end of the day in full.

You can't get around the plain and simple fact that they have trebled the price of a barrel of oil since 2002 simply because they can. The more expensive the petrol is, the more tax is paid on it. If the price per barrel is less, we pay less tax at the pumps and the net cost to a consumer is less.

In the US the transportation, license and tax costs still exists.

Here's a breakdown if the price of a litre at the pumps was £1.15:
http://www.petrolprices.com/images/petr ... iagram.gif

Subsequent tax on petrol? The tax you pay is largely down to how good your accountants are, and where you put the money.