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    Price of Fuel

    This is a discussion on Price of Fuel within the Everyday Life forums, part of the Community channel category; No problem. Yes our freedom is being eroded gradually. The Government insist that they will monitor everything we do on ...

    1. #11
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      Re: Price of Fuel

      No problem.

      Yes our freedom is being eroded gradually.

      The Government insist that they will monitor everything we do on the Internet because it is cheap and easy to collect the data and then to use it to see what we were doing.

      Often I hear the phrase "If you haven't anything to hide, then you shouldn't be worried".

      I don't see the Prime Minister wanting to have live cameras watch his every move 24/7. Does he have something to hide?

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    3. #12
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      Re: Price of Fuel

      Quote Originally Posted by Isitme View Post
      Its all very well comparing oil prices in the 80s with the present, but you also have to take into consideration wages. There is just no comparison between wages in the 80s to wages today. The average weekly wage in 1982 was under 140, in 2013 it was over 520. So in '82 your wage would have bought you about 269 litres, now it will buy over 500. On that basis petrol is cheaper now than 1982. Apart from that modern cars are much more fuel efficient so the fuel cost per mile is considerably lower.
      Average wage figures are absolutely meaningless when you consider the incomes of the top 10, 5 or even 1%.
      Take those out of the equation for both years & figures for today won't be too dissimilar to 1982.

      Interesting mini survey / income calculator:
      IFS - Where do you fit in?
      Last edited by gymno; 11-02-15 at 05:42 PM. Reason: Added link

    4. #13
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      Re: Price of Fuel

      Take those out of the equation for both years & figures for today won't be too dissimilar to 1982.
      There were also many very highly paid individuals in 1982, so the 'average' is much the same.

      TomD


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    5. #14
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      Re: Price of Fuel

      Quote Originally Posted by Isitme View Post
      There were also many very highly paid individuals in 1982, so the 'average' is much the same.
      But don't the top few percent now earn approx 180 times the average wage, whereas in the eighties it was nearer 20 times?
      Surely discounting that top few percent has a bigger negative impact on the average now than it would for 1982?

    6. #15
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      Re: Price of Fuel

      Its a bit difficult to say for certain, but considering there are many thousands more in work now than in the 80s, it will probably level out. I think it was Mark Twain who said 'there are lies, damn lies and statistics', although others have been attributed for the same quote in different words.

      The fact remains, electronics apart, the pound in your pocket in the 80s would buy much more than it does today.

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    7. #16
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      Re: Price of Fuel

      Fair points Isitme.

      For all i'd like to rant about the preposterous level of inequality the uk has now reached, i did read something the other day which suggests that fuel is in fact about the same price as in the 80's, considering inflation etc.

      Not only that, clarkson made a good point on top gear a few years ago regarding this & what process crude oil has to go through before it ends up in our cars.

      Which was that firstly you have to find it.
      Drill drill drill, nothing nothing nothing, then finally you get some.
      Then you have to build a huge well & possibly float it out to sea.
      Then after extraction you must build an enormous refinery somewhere before shipping the oil to it.
      The product then has to be distributed all over the country where it's put into flame-proof tanks for us to use.

      And they're doing all that for just 1 per litre?
      A quick look in any supermarket will reveal at least one brand of mineral water on sale for over 3 per litre.

    8. #17
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      Re: Price of Fuel

      The biggest component of the price of petrol is duty and VAT at about 60% of the total cost.

      The cost of bottled water is harder to understand, with only VAT to inflate the price.

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    9. #18
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      Re: Price of Fuel

      Yes along with the water example, tax was james may's other point.

      So at 40p, it's hard to disaagree that in comparison to other products sold by the litre, fuel doesn't seem so bad after all.

    10. #19
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      Re: Price of Fuel

      Taking the price apart, the garages only make around 1p per Litre of fuel. Out of that they need to pay for all their costs, etc. You might want to then factor in the very high volume that the oil refineries work on every single day.

      As for building the Oil refineries, I don't think so.

      Fawley Refinery has been there for many years. It was first built in 1921 and extended in 1952. Since then it will have been maintained and new kit brought in, but the main design hasn't changed much. Checking the Wikipedia page it handles around 20% of the UK's consumption.

      There is a huge underground network of hidden pipes which pump processed fuel around the country to various storage points. One such location had a bit of a problem 10 years back if you recall at the Buncefield fuel depot.

      Remember too that whilst the UK's Oil fields are under the North Sea, many other countries are able to get theirs just by drilling on land which is far cheaper.

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    11. #20
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      Re: Price of Fuel

      I know, clarkson's arguments are always like swiss cheese.

      Still, there is some validity there.
      Nothing is ever black & white.

     

     
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