Tuesday, October 02, 2007

Petrol prices

Lots in the papers about the latest rise in petrol duty, which, it seems, is likely to force the pump price of unleaded to £1 a litre. But if memory serves, hasn't the £1 a litre barrier already been breached - albeit only for a short period - sometime last year? And it's worth remembering that in real terms, the price of petrol is pretty much the same today as it was 20 years ago, so we haven't really got a lot to complain about in that respect. What I do find completely unacceptable is that part of the pump price we pay is VAT, and that this is charged on a price which includes fuel duty - in other words, we are being taxed (fuel duty) and then taxed (VAT) on that tax, and that surely can't be right!

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