If you know of any politicians jumping on the fuel bandwagon here's the calculation of pricing as per Platts prices last Friday on the wholesale market. This would have come into Irish storage over the weekend/Monday and out to fuel stations Monday/Tuesday.
Oil $118
Refining $47 (all time high see https://www.tradingview.com/news/re...XM:1-diesel-barge-cracks-climb-toward-50-bbl/ )
divide by 159 litres in a barrel
exchange rate of 1.09
Net cost in euro - 96c per litre
Duty - 43.5c
Carbon tax 11c
NORA - 2c
Running total €1.52.5c
Distributor margin 10c-11c
Retailer margin 10c-11c
Running total €1.74
VAT @ 23% 40c
Giving a pump price of €2.14
Deduct 15c duty and vat on duty (net duty reduction was 12.2c) and you are at €1.99 where the average diesel price should be today.
Its probably the most transparent consumer product for pricing as every part of it can be verified.
Normal refinery margin is $10. So the refineries are "gouging" to the tune of 30c inc vat.
And because this is a money site, an investment in a heavy fuel oil refinery may be a great play
Oil $118
Refining $47 (all time high see https://www.tradingview.com/news/re...XM:1-diesel-barge-cracks-climb-toward-50-bbl/ )
divide by 159 litres in a barrel
exchange rate of 1.09
Net cost in euro - 96c per litre
Duty - 43.5c
Carbon tax 11c
NORA - 2c
Running total €1.52.5c
Distributor margin 10c-11c
Retailer margin 10c-11c
Running total €1.74
VAT @ 23% 40c
Giving a pump price of €2.14
Deduct 15c duty and vat on duty (net duty reduction was 12.2c) and you are at €1.99 where the average diesel price should be today.
Its probably the most transparent consumer product for pricing as every part of it can be verified.
Normal refinery margin is $10. So the refineries are "gouging" to the tune of 30c inc vat.
And because this is a money site, an investment in a heavy fuel oil refinery may be a great play