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Old 03-04-2011, 04:32 PM   #44 (permalink)
darcane
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Join Date: Aug 2009
Location: Buckley, WA
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Quote:
Originally Posted by Arragonis View Post
p = 1 pence, 1/100 (0.01) of a pound. Think p = cents, = $ in terms of units. Obviously exchange rates mean they are worth different monetary amounts.

So each litre has duty of 58.95 pence, and then VAT (sales tax) is added to that + the production cost + the retailer portion (5p).
For all the US-centric members...
So, Duty + VAT = 80.1p/L
*3.785 = 303.2p/US Gal
Google currency conversion gives me about $4.92/Gal

So, UK is hit with $4.92 per gallon of gas in taxes. Compare that to an average $0.48 for the US:
Gasoline_Diesel_Summary

Does that mean we have no right to complain? Well, of course not. It's a fundamental right to be able to speak your mind. Even with US taxes being relatively low, government monetary policy is devaluing our currency and driving up costs on many commodities, not just petroleum. But, that's a discussion for other forums.
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