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UK Fuel Price Breakdown | How much tax are we paying on petrol?
UK Fuel Price Breakdown | How much tax are we paying on petrol? | Fuel Crisis 2022
In this video I give a breakdown of how fuel prices are broken down and how much tax we pay on a litre of petrol here in the UK, I also look at how much the government are potentially earning from the increase in fuel prices, and how much of the fuel price in the UK is made up of fuel duty and VAT.
This issue has been mentioned in almost all of my Sunday morning UK car news videos and I thought it was time for a wider discussion.
The recent fuel duty changes obviously haven't had much of a positive effect on anything but should further action be taken to reduce UK fuel prices?
For this video I'm making assumptions based on data published by the RAC on 9th June 2022, as shown on the BBC website (from which I have used the graphical element).
Given the recent UK fuel price increases do you think the Government is doing enough at present and should they be doing more to reduce fuel prices as quickly as possible? Many will now become victims of fuel poverty as this has now become a true fuel crisis.
Fuel prices have huge knock-on cost of living effects in terms of inflation, jobs and more - this is an important issue that requires action.
As I mentioned in the video, this is in no way a party-political issue for me; it's simply one of great national interest.
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This channel tries to deliver honest advice for real people. Remember that I am not a financial advisor or car finance professional and am therefore not qualified to give any kind of financial advice, views shown here are purely my own but you must make your own financial decisions. Always seek professional advice before entering a finance arrangement of any kind and seriously consider your financial position and the long-term affordability of any deal that you may enter into.
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