taxes on petrol price

A hell of a lot more - from memory, we are somewhere around the 80% mark

 

Yes, I'm not sure but I think it's around the 83% mark.........a real millstone around the neck of business and the private citizen.....but a real cash cow for the politicians.

 

I've just done a very rough calculation, assuming a litre of petrol costs 132.9, and diesel 137.9, it works out as follows:

Petrol - Raw cost 47.80, VAT 22.15, Duty 57.95, Profit/Costs 5.00;
TOTAL TAXES per litre = 80.10 (or approximately 60% of the total price per litre)
This equates to (very roughly) an APPLIED tax rate of 166%

Diesel - Raw cost 51.97, VAT 22.98, Duty 57.95, Profit/Costs 5.00;
TOTAL TAXES per litre = 80.93 (or approximately 59% of the total price per litre)
This equates to (very roughly) an APPLIED tax rate of 155%

The really cheeky thing to note is that the VAT (20%) is being charged right at the back end of the whole calculation, so we are being charged VAT on fuel duty, so paying a tax on a tax!

And yet, we (as a nation) sit back and let successive governments get away with it.

 

When I was in Venezuela a few years ago petrol worked out at 2.5p per litre!!!! Still, I wouldn't want to live there

 

No, because it was used in this country. The same as not being able to claim back the VAT on the meals they ate in restaurants.