13.9 Billion £s

[GreyGhost]

Shell reported today a yearly profit of the figure shown in the subject field. No doubt most of it from fuel sales in the UK. I realise that exploring for further reserves to replace those used is a very costly business but even so I feel rather hard done by.

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

[JamesP]

Originally Posted by Grey Ghost

Shell reported today a yearly profit of the figure shown in the subject field. No doubt most of it from fuel sales in the UK. I realise that exploring for further reserves to replace those used is a very costly business but even so I feel rather hard done by.

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

I think we all do, sometimes I think the Govt have done a good job in scaring the nation regards global warming, for what ever reason the the nation seem to accept high fuel prices. Mr Darling has just announced his 1st budget for 12th March 2008, I doubt very much the fuel duty will be capped.

http://ukpress.google.com/article/AL...miGxAgOU8tDMxQ

[Tatts]

Originally Posted by Grey Ghost

No doubt most of it from fuel sales in the UK.

Van der Veer (chief executive of Royal Dutch Shell) denied that the company was profiteering on the back of motorists, arguing that Shell profits were mainly coming from the upstream side of the business "and not at the gasoline pump in the UK".

A large part of the petrol price could be attributed to taxation over which the company had no control and any cross-subsidy from one part of the business to another would be effectively "killing yourself".

While the company had made annual profits of $27bn, it had invested almost the same amount in developing new projects along with an additional $7bn on securing a larger equity holding in Shell Canada.

The majority of what we pay at the pump goes straight to the government in Duty & Taxation. It's not the oil companies that are profiteering, it's HMG.

One thing puzzles me though. Slightly contradictory, Oil hit $100 a barrel recently, resulting in us paying 103p per litre at the pumps. It's now dropped to around $92 a barrel. Strange how we're still paying high prices at the pumps.

[GERFIX]

Originally Posted by Tatts

One thing puzzles me though. Slightly contradictory, Oil hit $100 a barrel recently, resulting in us paying 103p per litre at the pumps. It's now dropped to around $92 a barrel. Strange how we're still paying high prices at the pumps.

That one always gets me too. Mind you, wasn't there a so-called freeze on fuel duty until just recently? Or some government NAUGHTY WORD-NAUGHTY WORD-NAUGHTY WORD-NAUGHTY WORD- like that.

[Tatts]

Originally Posted by GERFIX

That one always gets me too. Mind you, wasn't there a so-called freeze on fuel duty until just recently? Or some government NAUGHTY WORD-NAUGHTY WORD-NAUGHTY WORD-NAUGHTY WORD- like that.

That rings a bell, but Duty went up 2p recently IIRC and another 2p increase due in April I believe. Additionally, these 2p increases are 2p PLUS 17.5% VAT. Which means that a 2p increase in duty = 2.35p

[JohnDotCom]

Shell Fuel admitted it was done to the High Cost per Barrel!
When ever do they reflect downward spirals only ever upwards.
Thieving Arabs, well Dutch, British etc!

[Greeners]

I've got no problems with their profits.......it's the govt that adds nearly 70% on in tax.......

Oil prices are part of the futures market so the price of oil now affects petrol prices in 12 months time...

[JohnDotCom]

Originally Posted by Greeners

Oil prices are part of the futures market so the price of oil now affects petrol prices in 12 months time...

.....or 12 Minutes on the Petrol Forecourt of Price of Barrel of Oil going up!