UK petrol prices could rise 15p a litre in 2010
The Petrol Retailers Association has set the cat amongst the pigeons with a suggestion that UK petrol could rise by up to 15p a litre purely and simply because of tax changes and a continuing upward trend in the price of oil. Aside from the fact that the VAT has now returned back to 17.5% there is further speculation we could see an increase to 20% after the election. The government is also set to introduce a fuel duty of at least 1p a litre which will be counted by the withdrawal of tax breaks for the biofuel industry.
The need to increase government income in the short to medium term has again led to the authorities attacking motorists in the UK. The cost of motoring in this country has increased significantly over the last decade even when you strip out the volatile oil price which has obviously had an impact upon the price of petrol. Motorists today are sick and tired of being used as the government's "cash cow" and there is a growing revolt amongst car owners across the country.
If we do see an increase in tax on petrol there is every chance we will see a return to strikes and pickets across the country with motoring associations set to fight back. However, in reality the need to increase government income in the short to medium term supersedes any potential negative comment or feedback from motorists.
Share this..
Related stories
Record £63 million compensation bill lands on nPower mat
UK energy giant nPower has this week been hit with a £63 million compensation bill in relation to errors in the company's computerised billing system in 2007. It is believed that as a consequence of these errors a number of gas customers were charged for fuel which they did not use with the situation only coming to light some time later. So what has nPower agreed to do? The company has agreed...
Read MoreUse protection, urged CIFAS
To coincide with the UK's third annual National Identity Fraud Prevention Week, CIFAS, the UK's fraud prevention service, is urging consumers to use protection to prevent themselves from becoming victims.According to the Home Office, identity fraud is costing a shocking £1.7 billion every year, but many people are ignoring the risks, with recent research showing that as many as 80 per cent of hou...
Read MoreBudget Headlines : New 45% tax rate increased to 50% from April 2010
New 45% tax rate increased to 50% from April 2010...
Read MoreSupermarkets take 58p of every Retail Pound
A report from the Payments Council has revealed that in 2011 supermarkets took 58pc of the entire retail spend in the UK. This means that almost 60p in every pound spent on the high street goes to supermarkets, a figure that is up from 48p compared to 2001, and marks an all time high. The report also revealed a change in the payment culture of consumers, who are increasingly using plastic in t...
Read MoreRoyal Bank of Scotland struggling to sell US offshoot
Despite apparently agreeing a sale of its trading business Sempra to JP Morgan Chase it looks as though Royal Bank of Scotland will have to revise these plans after the US government introduced the idea of a possible ban on various trading practices. These high-risk trading practices are central to the Sempra operation and many believe the planned $2 billion sale could be derailed in the short ter...
Read More