Cost of UK Petrol and Diesel

There is wide spread media stories of the cost of fuel.

£100 is now the average cost to fuel a car with petrol. Take a step back, and consider this:-

You have to earn about £150 “before tax” to take home £100 in your bank account. Thus you have already paid £50 in tax.

Now you fuel up and pay £100 on fuel, now that £100 is comprised of:-

£16.67 VAT (Valued Added Tax)

£32.74 is Fuel Duty (Fuel Tax)

£35.84 is the fuel supplier (the wholesale cost)

£9.71 is biofuel (additives)

£3.92 is the retailers margin

£1.12 is delivery costs.

So the £16.67 + £32.74 = £49.41.

Thus 49% of the £100 is tax, but you had to pay £50 on the £150 earned to take home £100, and then you have to pay £49.41 on tax……

The wise American, Mark Twain was right, only 2 things in life are certain, you pay taxes and you die.

Asad Karim