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Shell sets new profit record
Topic Started: Jan 31 2008, 09:18 AM (341 Views)
Norbert
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So why do they need to charge such stupidly high petrol prices if they've making record money levels?

<mad>

http://news.bbc.co.uk/1/hi/business/7219148.stm
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everythingoes
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The prices are high to finance the government <hitwall>
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Norbert
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But they're making record setting profits *after* they've paid the tax - therefore there's plenty of margin in there too!
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everythingoes
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The petrol company dropping its price will at best have a very marginal effect on the price a consumer eventually pays. Thats due to various taxes being levied at every step of the way.
Shell should be allowed to make profits, so that they can continue to sponsor / partner Ferrari <thumbsup>
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willyshafter
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There is a margin in there and I don't have issue with the profits Shell have made because at the end of the day what ever business your in the aim is to make money not loose it.

Also it is not Shells fault that that 65% of the price you pay at the pumps is tax.At a pump price of 100p/litre typical for unleaded in November 2007, this would put the combined tax at 65.24p/litre.

Combined tax meaning you pay VAT on top of the fuel duty already added to the cost. The super high fuel price in this contry have got nothing to do with Shell or any other oil compay it is Ken Clarke who is to blame for starting the fuel escalator and then Grodon Browns for continuing to use it as a good way to make up the short fall come budget time yet again slaming the hard working middle classes.
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pedal power
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Shell's profit of £13.8 Billion does appear to be obscene, however profit made from petrol satations accounts for less than a £1 billion at the most.

Majority of the profit is made from exploring, drilling and refining oil. Also then selling that through it's network or to other suppliers.

As mention before the amount of tax that the government takes may be extortionate but if that was reduced they have to increase tax in other ways to make up the difference.
if i'm not mistaken there is another 2p increase planned for april.

The amount of tax raised last year from fuel was between £35 to £37 billion, and about £6 was put into public transport.



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willyshafter
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pedal power,Jan 31 2008
10:17 AM
about £6 was put into public transport.

That sound about right looking at the state of the train and buses in Halifax
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pedal power
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<doh> meant £6 Billion not £6
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Red Andy
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pedal power,Jan 31 2008
10:38 AM
<doh> meant £6 Billion not £6

I think the earlier figure is somewhat more accurate - or possibly £6 billion for transport in London, and £6 for the rest of the country? <think>
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ELUSIVEJIM
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Yer its a bloo** disgrace <grrr>
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willyshafter
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They bitch about everybody using a car yet they is not an easyalternative for alot of people. I know Leeds are/were trying to get a super tram scheme going but it never seems to get beyond the planning stage. I guess the £6 buget was blown on the consultants fees.
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u4coffee
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BP will probably beat this when they release their results
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Red Andy
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willyshafter,Jan 31 2008
01:44 PM
They bitch about everybody using a car yet they is not an easyalternative for alot of people. I know Leeds are/were trying to get a super tram scheme going but it never seems to get beyond the planning stage. I guess the £6 buget was blown on the consultants fees.

And the train companies seem determined to encourage commuters to use their services by shortening trains, cutting back on services and extortionately hiking fares at every opportunity. I don't drive, but the abysmal state of public transport in this country (outside of London) makes me wish I did.
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AndyW76
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Leeds supertram never got beyond the feasibility stage because the government wouldn't help finance it, yet other large cities got tram systems, like Manchester and Sheffield.
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Norbert
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AndyW76,Jan 31 2008
02:31 PM
Leeds supertram never got beyond the feasibility stage because the government wouldn't help finance it, yet other large cities got tram systems, like Manchester and Sheffield.

I expect Stradlin had something to do with that....


<roflmao>


<peek>
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