BBCNEWS BBC News at Ten June 4, 2024 21:08:00
At least his business can claim back the vat on fuel, a tax break not available to regular motorists, spending on average over £100 on a tank of petrol for the first time. the price at the pump is about more than just the cost of fuel. in fact, of that £1.82 record per unleaded litre, only 9ap is the cost of the petrol itself. transporting it costs 2p. the retailer takes a margin of 3p, then the government adds 53p in fuel duty — recently cut from 58 — and then puts vat on the whole lot for another 30p. so 46%, nearly half, is tax, and because prices have risen so quickly, the government...
Source: archive.org