Tuesday, November 13, 2012

Will the planned rise in fuel duty be scrapped?

With a planned rise in fuel duty of 3p set to come in the vote against it has been defeated after heavy hints that the government will cancel it. What I'm sure won't be cancelled though is the government's spin about 'thinking of the people' and all the hard work they're doing for us.

Yep once again I'm sure they'll be expecting us to thank them for not deciding to take more money of us. Once again they're the guys holding the big club and stating "Well we could have beaten you over the head and taken your wallet, but we've decided not to; isn't that nice of us!"

As an aside this wouldn't be a 3p rise. Taking my local's unleaded price of 135.9p what would the price be if fuel duty was increased by 3p? If you answered 138.9p congratulations you're wrong; VAT needs to be added too. That would be 3p in fuel duty and 0.6p in VAT so the price would be...? If you answered 139.5p congratulations you're still wrong; when was the last time you saw a price that didn't end in 0.9p? The price would have become 139.9p with the government making an extra 3.6p per litre and the petrol companies an extra 0.4p.