Fuel £1-A-Litre !

[mikey4444]

Heres something to look forward to !

http://www.theguardian.com/money/2015/aug/21/uk-supermarkets-cut-petrol-prices-crude-oil-cost-slides

I paid £1:08 a litre yesterday !

[Gromit]

Whilst it is good for the motorist, it is bad for the country.

Our tax revenues from the sale of North Sea crude oil are well down, and many jobs depend on the North Sea oul industry.

[Gromit]

Revenue down

http://www.theguardian.com/uk-news/2015/mar/18/tax-receipts-from-north-sea-oil-predicted-to-fall-to-40-year-low

Jobs threatened

http://www.scotsman.com/business/energy/jobs-threatened-as-north-sea-oil-projects-collapse-1-3810630

[sunny-dave]

The Scot's Nats must be kacking themselves - their "Strong Wealthy Scotland" was predicated on a $120 p/b oil price.

At $48 they are a Celtic Greece waiting to happen.

Lucky we can now bail them out again ...

[ToraToraTora]

I can't see how it can be this cheap really, duty is 70p + vat on the whole so it's minimum is 84p. for 1.08 the tax is 86.4p so they have to find it refine it deliver it retail it all for 21.6p, simply amazing.

[Gromit]

Tots
Most of the North Sea crude goes to export.

We are probably buying cheap oil off of ISIS :-)

[mushroom25]

//We are probably buying cheap oil off of ISIS :-) //

unlikely. this report is from April, but on the basis that ISIS invoked a scorched earth policy as they retreated, the situation probably hasn't changed.

http://www.ibtimes.co.uk/isis-loses-control-three-key-oil-fields-iraq-1495521