yet another excuse for price hikes

  lofty29 17:23 29 Apr 2008

I see that the latest excuse for energy price hikes is likely to be the 2 day strike at grangemouth, petrol retailers are already on the band-wagon, in spite of the massive increase in profits. Now there is the threat of a 20% jump in home energy prices.

  laurie53 19:28 29 Apr 2008

Since when have they needed an excuse for price hikes?

  interzone55 09:11 30 Apr 2008

The petrol retailers have not had a huge jump in profits.

There is very little, if any, money to be made in "petrol retail", the forecourts make a tiny percentage of the price of fuel. Why do you see so many closed garages, and people like Tesco taking over with their mini-marts if there was money to be made in this game.

No, the likes of Shell & BP make their money because idiots on Wall Street are buying oil at $120 a barrel.

Shell & BP cannot reduce the price of fuel at the pumps for a number of reasons, a) the actual cost of the petrol is small, most is tax and distribution costs, b) it would be anti-competative, if Shell & BP give their petrol away how would non-tied retailers compete.

This link is a couple of years old, but it gives you an idea of how the price of petrol is made up click here

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