Hello-o !
If inflation is high (which it is... despite the Government's fiddled figures), then people will want a greater return from selling their goods to the supermarkets in order to maintain their income. If oil prices edge up, and the tax on fuel jumps up, and the VAT on the fuel and the tax is therefore larger, then anything that uses fuel will have higher overheads and these will need to be passed on. So this will affect:
- Farm machinery
- Farm transport to depots
- Transport from depots to distribution centres
- Transport to the individual supermarkets.
The Gorse Fox also hears continually from the Media and the Government about the cost of a barrel of oil and the fact that the "industry" is making huge profits. Excuse me! The Government is making even bigger profits. It is New Labour that is raking it in, not just BP and Shell.
Not convinced?
Observe (*):
So next time that you worry about inflation or the cost of driving to work (because there is no railway infrastructure or bus that will get you there) - remember where much of the blame lies.
Diesel @ 126.5 p/l Cost of fuel itself: 57.31p Fuel tax: 50.35p VAT on fuel+fuel tax: 18.84p
Gordon Brown (the man that robbed your pensions) tried to divert opinion with a rather pathetic attack on OPEC during the week - revealing either that he thinks the public are stupid, or that he is stupid himself. The Gorse Fox refers you to "Who Gets What from Oil" and the excellent graphic therein, and also the fact that the UK is a major oil producer (though not a member of OPEC).
(*) Calculations courtesy of http://www.abd.org.uk/fuel_tax_calculator.htm
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