Fuel Duty, plus the VAT on the Fuel Duty element comes to 69.5p per litre. With Petrol at (say) 110p per litre that leaves 40.5p difference. But that also includes a 20% VAT element, so the fuel company's take is 33.75p. That of course includes production, distribution etc.
With the price of crude now down to $55 a barrell (159 litres), that's 22.6p per litre. So margins are tight.
However, two things to think of:
With the tax on diesel being the same as petrol, why are they charging an extra 10p per litre - an extra 100% profit on the difference between the crude price and the fuel company's take? Diesel is either the same price or much cheaper in Europe.
Why do we get aviation fuel surcharges on flights when the oil price goes up, but not refunds when it comes down ?
With the price of crude now down to $55 a barrell (159 litres), that's 22.6p per litre. So margins are tight.
However, two things to think of:
With the tax on diesel being the same as petrol, why are they charging an extra 10p per litre - an extra 100% profit on the difference between the crude price and the fuel company's take? Diesel is either the same price or much cheaper in Europe.
Why do we get aviation fuel surcharges on flights when the oil price goes up, but not refunds when it comes down ?