I just read the article it was actually pretty good. Long story short the forecourt price of fuel has tracked pretty similar to the wholesale price based on the most recent figures from the CSO, so there isn’t much evidence of gouging there. Home heating oil is a different story though.
The article is long and detailed if you aren’t going to read it no point commenting
Melded1 on
What a surprise that the CCPC who found no problems with the supermarkets would find no problems here either.
blockfighter1 on
Yes they do Kent
Unusual_Exercise7531 on
The main cost of fuel is TAX 38% fuel duty, 20% VAT, 7% Green Levies, so 65% of the cost of a litre of fuel is tax. Without the tax fuel would roughly be around 65p – 70p per litre
flamesdivide on
500 ltr of home heating oil went up 50% 1 week after the war started. I got screwed having to buy it. All the provider had the same price. Put it down to supply and demand.
Ok_Personality6148 on
I don’t believe there’s widespread price gouging going. Prices rose sharply and quickly but they also dropped quickly when the government reduced excise.
I find it interesting to observe human behaviour. We’re primed to respond to negative threats and I don’t think the current media incentives help, they definitely exploit this vulnerability. Example, when prices started rising, everyone rushed to fill up, this reduced reserves at the old price and forecourts had to fill up at the higher price. In home heating oil, people naturally rushed to refill and pulled demand forward leading to higher prices and cancellations in some cases. I do think home heating oil is a little different, if there’s a sudden spike in demand they may not be in a position to fill all orders and I can understand the temptation to fill higher value orders and cancel lower value.
8 commenti
Who you calling tit!
I just read the article it was actually pretty good. Long story short the forecourt price of fuel has tracked pretty similar to the wholesale price based on the most recent figures from the CSO, so there isn’t much evidence of gouging there. Home heating oil is a different story though.
The article is long and detailed if you aren’t going to read it no point commenting
What a surprise that the CCPC who found no problems with the supermarkets would find no problems here either.
Yes they do Kent
The main cost of fuel is TAX 38% fuel duty, 20% VAT, 7% Green Levies, so 65% of the cost of a litre of fuel is tax. Without the tax fuel would roughly be around 65p – 70p per litre
500 ltr of home heating oil went up 50% 1 week after the war started. I got screwed having to buy it. All the provider had the same price. Put it down to supply and demand.
I don’t believe there’s widespread price gouging going. Prices rose sharply and quickly but they also dropped quickly when the government reduced excise.
I find it interesting to observe human behaviour. We’re primed to respond to negative threats and I don’t think the current media incentives help, they definitely exploit this vulnerability. Example, when prices started rising, everyone rushed to fill up, this reduced reserves at the old price and forecourts had to fill up at the higher price. In home heating oil, people naturally rushed to refill and pulled demand forward leading to higher prices and cancellations in some cases. I do think home heating oil is a little different, if there’s a sudden spike in demand they may not be in a position to fill all orders and I can understand the temptation to fill higher value orders and cancel lower value.
It’s doubled in price in the Philippines.