8 cent a litre on petrol!!!

[Ivan]

All i'm saying is that when you think about it petrol is relativity cheap.
I mean Heinz ketchup for example is what €3 a litre which is a product that can be grown.
Petrol which is a dwindling natural resource and has to be drilled at great expense and transported a large distance cost's €1.15 a litre.

Yes but the oil companies make millions of euro profit every minute and half the price of petrol is tax.

You can grow petrol. But a farmer in north county Dublin is not allowed grow it.
So it's bought in from another country.

It's the fact we are getting taxed more heavily that is bothering me.
More tax = less money = country down the toilet.

[fabfiveferg]

Was everyone expecting a windfall budget then? A bit hopeful there.

It was pretty much as expected I would have thought. a little Surprised he hit fuel but I suppose it had dropped recently. 50c on cigs is standard.
The income levy should have had a threshold but I've no issue with paying more tax. It's the wasting of my money by someone other than me that pisses me off.

The medical card for ALL over 70's should never have been introduced. It should have been means tested from the start. Not ALL over 70's are living on the bread line.

Anyhoo.

[Ivan]

Was everyone expecting a windfall budget then? A bit hopeful there.

Yes i was, if sales are bad you reduce prices and that will increase sales
Therefore increase revenue.

It's very simple if you put prices up there is less money going around
therefore less tax take and next year we will be in a worse place.

It's been proved loads of times, a few years ago they gave a 1,000puond scrappage scheme. It give the tax man way more money than they thought they would get.

[fabfiveferg]

I don't have any issues with your economics Ivan unfortunately our Govt are unlikely to get that point (or have the balls politically to risk it)

Budget panned out pretty much to form. Hit the PAYE woker, small business etc and try and get construction going. It's all they know

[virtualcolm]

And don't forget the Publicans who make up the back benches. No sense in upsetting them.

Increase the excise duty on wine, but not beer

[mx5ash]

Garage near me has put the petrol down to 112.9 from 113.9 pre budget. I know it would have been back at 105 ish had it not been for the budget but still i have to chuckle at all the people who q'd for ages to fill up on budget night.
One on the way to work theres a garage selling at 111.8. Might see sub €1 again!!! or am i being optimistic?

[fabfiveferg]

You never know Ash. It's a distinct possibility now. Prices are tumbling wholesale.

Yeah I was laughing at the folks clogging up the Crumlin Road on budget night. You'd swear it was the last of the petrol

[Steve]

Yup, oil now less than half the price it was in July.. (think its about $70 a barrel today).

[leamyj]

Would someone like to try and explain why price reductions take longer to filter through the system as opposed to price increases which appear almost instantaneously ( Hope I spelt that right)

John

[mx5ash]

Because otherwise they would be being fair to everyone and not ripping you off and thats not going to happen is it.

[Midlifecrisis]

Crude vs Litre of Petrol (Global vs AA Avg National price survey)
Mar 110 120.2
Apr 118 120.7
May 125 124.9
Jun 140 130.5
Jul 147 133.5
Aug 125 128.8
Sep 100 127.5
Oct 80 ??????? (+ 8cent increase)

Should ideally even with increase been seeing petrol now at sub 1.00, but oil companies are creaming it & use the excuse that they must deplete stocks at previous price-point before passing on any price decrease. Funny it always seems to take longer to deplete stocks when prices fall