By Thomas Clarke
Petrol prices continue to rise despite the drop in oil prices on the world markets. With government taxes taking over 80% of the price at Irish pumps this constitute a stealth tax on workers and the two government parties running the country are hitting the ordinary working man and woman really hard. Some people are struggling to pay their mortgages and are choosing to fill up their cars with petrol instead of paying their mortgage in order to continue to be able to get to work .There is no money left to consume anything else as these excessive fuel prices are draining the funds from every household in the country thanks again to the Greens and their carbon tax, which by the way has done nothing to curtail emissions and has turned out to be yet another stealth tax on the less well off.
Gangsters the lot of them!
Have you noticed how expensive petrol is these days? It now costs over €100 to fill up an average family car. In Ussher’s Quay the other day, there was a tailback of cars because a petrol station decided to offer a cut-price deal on petrol.
Why is the price of fuel going up?
Lots of media coverage is focusing on the Straits of Hormuz and the sabre-rattling between Iran, America and Israel at a time when Syria burns in the background. We are told that old-fashioned supply problems can explain the price of oil. Then, last Thursday, the main oilman in Saudi Arabia told us to chill out there was loads of the stuff left and there wouldn’t be any supply problems. Of course, this is all playing out against a background where the proponents of ‘peak oil’ argue that the stuff is running out anyway.
But might there be another reason that petrol prices are so high? Is there anything else driving up the price of petrol at the pumps that could be closer to home?
The answer is yes. At the moment, the central banks of the world are responding to this mega-debt crisis and huge de-leveraging everywhere with lower and lower interest rates. Earlier this month, a report from the US Federal Reserve (www.federalreserve.gov) on the flow of funds in the US made for quite shocking reading if you are someone who worries about what central banks all around the world are doing.
The report reveals that the Fed bought 61 per cent of the net new debt the US government issued last year. Before the financial crisis, the Federal Reserve used to buy small amounts, but not the lion’s share of the US government’s debt. This is quantitative easing like we have never seen before.
One way of putting all this into context is to examine how much this is in terms of US total income. This is particularly important right now in order to ascertain whether the US recovery is real or temporary.
full article at source:
see also http://www.youtube.com/watch?v=wDFgtb0by4E&context=C4464a34ADvjVQa1PpcFNVDp2zeCVu0l81wPbq-TLsRUiA5M9o4Vs=&utm_source=Website+Subscribers&utm_campaign=38d6d50671-02042012&utm_medium=email
It is that long ago I was listening to live line about one year ago now, and the topic was petrol prices at the time the public outcry was about the price per litre was just gone over the one euro mark. Well those were the days as of today our local petrol station has passed the 1.60 mark per litre. This is outrageous and I am bewildered why people are not standing outside the place and demonstrating against these prices. People around the country should just stop going to work and bring the country to a standstill otherwise we are going to be paying 2 euro very soon at the same pumps .Who many people are going to have lose their jobs because it doesn’t make any sense paying more that your mortgage payment to get to work every month .At the same time we see politicians on the mileage gravy train in the Dial .Meanwhile you might like to keep an eye on this website http://pumps.ie/viewNationalStatistics.php
Bord Gáis has confirmed that its residential electricity prices will be increased by 12% from the beginning of next month.
The company also said that it expects its residential gas prices to rise from the start of October, following a consultation process with the Commission for Energy Regulation.
Bord Gáis has 435,000 residential electricity customers.
‘We recognise the strain that households are under at the moment and we have done our utmost to limit the overall price increase to 12% despite much higher increases in international wholesale prices,’ said Jason Scagell, managing director of retail and trading, Bord Gáis Energy.
‘The prices paid by Irish customers are intrinsically linked to international wholesale prices and with the markets signalling the prospect of higher winter prices, residential price increases have unfortunately become unavoidable.
Have you noticed that the prices of oil in the international markets have actually gone down that right down?
In fact the price was around $115 dollars a barrel and is now $97.18 dollars a barrel equivalent to 14.5% drop in 4 days but around Irish petrol stations you would not notice anything .Prices in my local petrol stations are still the same as there were last week .The operators are very quick to put up prices but very slow to change them Down .
To-day I came across this petrol station the price of petrol as you can see is 1.51.9 this is just appalling! we seem to getting to my projected price high for the year sooner than I thought!
This of course is very bad for the Irish economy as this price hike is unsustainable and will lead to job losses .During my canvassing I came across many people who were barely making ends meet and I fear that this new price shock along with the other new stealth taxes on the way (Water charges, property taxes etc) will convince a lot of people that working for a living is no longer a profitable reality. It is costing people more to go to work when you take into consideration the cost of getting to work and childminding costs, the Universal social charge, (Poll tax) and the widening tax bands rising interest rates .Where is it going to stop??
I also came across people who are self employed but could not afford to pay the tax on their commercial vehicles because of the new tax rates imposed by the last government .So these people could not go out and look for work and their vehicles were sitting in their car drives at their homes and they were sitting at home because they did not have work they could get to .What a farce
I believe the new government must reverse this tax immediately and the last 20 cent tax put on petrol by the Loony Greens must be taken off so people willing to go to work can do so and other people can keep their jobs !
Barely a few hrs after the budget we see the prices at the pumps are rising and to-day I saw prices as high as 1.45 Euros per liter for petrol in Dublin and expect we will see prices past 1.50 a liter in the new year! At this rate I must seriously consider loosing one of our cars .I found this on youtube and it makes you wonder!