Petrol/diesel price cap?

[Ihavenojob]

Oil is down from its last peak in March 2022 (was $123 per barrel, now $103) and Dishi Rishi cut fuel tax by 5p, but prices at the pump still rise. Should there be a price cap similar to gas and electric?

 

[The Samaritan]

yes

 

[The Samaritan]

this username needed to remind everyone how wonderful he thinks she is.

View attachment 266262

 

[just pumps]

No, why should there be.

 

[The Samaritan]

What

 

[denso13]

No.

 

[Ihavenojob]

No, why should there be.

Let market forces decide? So we should scrap the cap on domestic fuel then?

 

[The Samaritan]

Not sure.

 

[just pumps]

Let market forces decide? So we should scrap the cap on domestic fuel then?

Did I say that?

 

[Ihavenojob]

Did I say that?

No, did I say you did?

 

[just pumps]

No, did I say you did?

Well thats alright then, just bad grammer eh.

 

[Ihavenojob]

Well thats alright then, just bad grammer eh.

lol

 

[Anon_E_Mouse]

Let market forces decide? So we should scrap the cap on domestic fuel then?

The price cap is partially to blame for the current situation.

 

[Thomasthepiperson]

I suspect prices will fall, when demand for oil falls. We could cut fuel duty or abolish it altogether but it’s not the government who sets the prices

 

[Ihavenojob]

I suspect prices will fall, when demand for oil falls. We could cut fuel duty or abolish it altogether but it’s not the government who sets the prices

The duty on a litre is about 58p, that was reduced recently by 5p a litre, plus oil price is down, but prices at the pump are not going down, just the opposite. They should have come down by at least 5p a litre due to the tax cut.