Whoops! That wasn’t supposed to happen.
Government gougers yesterday pre-empted the OFT report into fuel prices by accusing fuel firms of “ripping off” drivers at the pump. This morning the OFT has cut off that stream of bullshit.
According to the BBC, the OFT reports that “A study of competition in the UK petrol and diesel market by the Office of Fair Trading (OFT) has concluded that little action is needed. The evidence gathered by the OFT suggests that at a national level, competition is working well in the UK road fuel sector”.
It also found that “before tax, the UK has some of the cheapest road fuel prices in Europe“. But that’s just it: before tax. The effects of the savage state beast then are clear.
“This report will give only limited comfort to the UK’s 35 million drivers who continue to pay near record prices at the pumps, but the OFT does identify the true cause of drivers’ misery – the chancellor and crude oil prices,” said Prof Stephen Glaister, director of the RAC Foundation.
“About 60% of the pump price is accounted for by fuel duty and VAT and we would now call on retailers to provide a breakdown on till receipts to show exactly what the proportion the Exchequer is creaming off.”
Yes, we are being ripped off – by the State, by inflating oil prices with its monetary inflation, then imposing regulatory costs, then imposing fuel duty and then VAT onto the fuel and duty again. It’s always baffled me why retailers don’t split the price of fuel on till receipts. We don’t pay at around £1.35/litre to BP or Esso. The true cost is less than half, but the State mafia imposes its massive cut. And those vast costs are passed onto all consumers and travellers.
As always, life would be so much cheaper and easier without government greed distorting markets, inflating prices and gouging consumers.