Shell reports record UK profits

Post by **sirch345** » Thu Jan 31, 2008 12:18 pm

Don't it make you mad too hear that, when we're all getting screwed over petrol prices, here in the UK

Or is it only me

I realise the biggest part of petrol charges are tax, but...................

Oops wrong link

Try this one:-
http://news.bbc.co.uk/2/hi/business/7219148.stm

Chris.

Kermit · Post by **Kermit** » Thu Jan 31, 2008 1:26 pm

Glad to see you keep up to date on current affairs Sirch

Last Updated: Thursday, 2 February 2006, 11:16 GMT

Beamish · Post by **Beamish** » Thu Jan 31, 2008 1:38 pm

Correct me if i am wrong (I am sure you will

) but.......

Most of Shell's profits come from finding and extracting oil, and then selling it on to the markets.

Little, if any, profit comes from forecourt sales of fuel - which in the UK attracts among the highest taxes in Europe.

If Shells profits come from selling oil to the markets surely if that oil was sold at a lower price with a lesser profit margin then the discount would find its way to the forecourts!
God I hate it when they assume the reader is as thick as a whale omelette

Beamish · Post by **Beamish** » Thu Jan 31, 2008 1:44 pm

No, it was announced this morning on the national BBC news.

http://news.bbc.co.uk/1/hi/business/7219148.stm

Post by **sirch345** » Thu Jan 31, 2008 2:06 pm

Well spotted guy's

I've corrected it now

Chris.

PS. Well done Beamish, you've got the right one

Beamish wrote:Correct me if i am wrong (I am sure you will ) but.......

Most of Shell's profits come from finding and extracting oil, and then selling it on to the markets.

Little, if any, profit comes from forecourt sales of fuel - which in the UK attracts among the highest taxes in Europe.

If Shells profits come from selling oil to the markets surely if that oil was sold at a lower price with a lesser profit margin then the discount would find its way to the forecourts!
God I hate it when they assume the reader is as thick as a whale omelette

One would have thought that would be the case

Chris.

Zer0Zer0 · Post by **Zer0Zer0** » Thu Jan 31, 2008 2:31 pm

Wouldn't matter if crude oil was Â£20 a barrel we would still be paying over a quid a litre ..the revenue the government receives from forecourt sales is staggering...whats next a sunshine tax..privatise the air..????

LotusSevenMan · Post by **LotusSevenMan** » Thu Jan 31, 2008 7:09 pm

I tried to find out a few years back what the government made out of the motorist in terms of pure tax in any 24 hour period to within a couple of million quid.
Answer?

Well you do the maths

Fuel duties collected by Customs in 2002-2003 amounted to Â£22.1 billion, and they are predicted to amount to Â£22.8 billion in 2003-2004 and Â£24.4 billion in 2004-2005.

That amounts to 20.33 per cent, 19.59 per cent and 20.07 per cent of HM Customs' total revenues for those years.

Stratman · Post by **Stratman** » Thu Jan 31, 2008 7:24 pm

If the tax wasn't on fuel it would have to go on something else though, like income tax. Whether we like it or not, most (not all, I know) can choose to use less fuel, so its fairer in a way.