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May 24th, 2012 
FAKE NEWS for the Zionist agenda
By
Daily Mail Reporter
18:23 EST, 23 May 2012
|
18:24 EST, 23 May 2012
Motorists are being ripped off by profiteering oil companies and speculators, MPs suggested yesterday.
They demanded an inquiry into allegations of price-fixing at the pumps, and called for the Government to replace its planned fuel duty rise with a windfall tax on oil company profits.
According to the AA, wholesale fuel prices have fallen by about 10p a litre over the past fortnight – but the cost to drivers has gone down by around 6p a litre.
Row: The AA say the UK’s 34million drivers were being short-changed as speculators and executives lined their pockets
The motoring group claimed the UK’s 34million drivers were being ‘short-changed’ as speculators and executives lined their pockets.
Tory MP Robert Halfon yesterday led calls for a windfall tax on petrol firms and for the cash raised to be used to scrap the 3p fuel duty rise planned for August.
He also demanded an investigation by the Office of Fair Trading into petrol prices, saying they were ‘always quick to rise’ when the cost of a barrel of oil went up, yet ‘it feels like you need a court order to get them down’.
He went on to attack speculators who hoard oil instead of releasing it to the market to increase supply and lower prices.
Many store cheap fuel in land-based silos and off-shore ships until prices rise – a scandal revealed by the Daily Mail three years ago.
‘In America they are bringing in tough new penalties for market manipulation and I would urge the Government to do the same thing in Britain,’ said Mr Halfon.
‘Last year western governments tried to release oil to cut pump prices but banks bought up at least 1.6 billion dollars worth of barrels of the emergency oil.
‘There is evidence that a lot of this is stored in silos rather than coming into the market, keeping prices high – in other words, it’s stored at sea.’
Coming down: Petrol prices are coming down across the country – but not as fast as many believe they should be
Motoring groups backed the calls for ministerial action. AA president Edmund King said: ‘The 10p-a-litre fall in wholesale petrol costs across Europe, which has lasted a fortnight, has failed to be passed on fully at UK forecourts.
‘That would have pumped £5.1 million a day into non-fuel consumer spending. So despite a series of highly-publicised supermarket price drops, the UK motorist continues to be short-changed at the pump.’
The AA said UK petrol prices have fallen 6.45p a litre since the record high in April and diesel is down 6.08p. Petrol reached its record high of 142.48p on April 16 while diesel hit its record 147.93p on April 12.
Petrol is currently selling at 136.03p per litre, and diesel 141.85p.
The RAC’s annual report on motoring revealed this week that the cost of running a car has soared by 14 per cent to an average £6,689 – breaking through the £6,000 barrier for the first time – accelerated in large measure by rising fuel prices.
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Oil companies have to find oil, get it out of the ground, refine it, distribute it worldwide – all for c.70p a litre! Its the government duty and VAT that is the rip off!
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Oh Ya!!!! that’s news, I can remember my Dad moaning when they put up petrol 1/2d (that’s half penny pre decimal) a Gallon in1960’s, nothing new here then.
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Well that’s news to me I would never have guest that in a million years, well I never.
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thats rich from the govt who pile so much tax on petrol !!
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Another government sponsored ploy to try to hide from us the fact that, without tax and duty, fuel would only be around 50 pence a litre. Must admit I wince a bit at even that price as, when I started driveing it cost all of 4 pence a litre (18 pence a gallon) including tax! Mind you my pension is a bit more than my then weekley wage of £3.10. LOL (All prices shown as New Pence)
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NO……perish the thought, don’t forget the greedy government, the ony thing they have not found to put a tax on yet is the air we breath, but hey give them time they are gradually screwing everything else up.
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This is not news. Fuel has been a rip off for years with the oil companies profiteering and the Government taking it’s pound of flesh.
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Never mind the oil companies ….. sort out the high taxes
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How about reopening coal mines and extracting petrol from the coal, as Germany did in WW2.
The coal will also make great cheap heating fuel for coming winter.
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Motorists ae being ripped of by government via the outrgeous VAT at 20% and petrol duty making 80% of the price tax. That’s the rip off. Anythng else is tiny!
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