17 billion!..

[Kerr1992]

So shell has declared an annual profit of 17 billion, just days after the OFT told is all that we were getting "a fair deal" on fuel I'm sure they said

Love to see them justify this, surely the likes of shell and BP ect can no longer grow any further? They are already the largest organisations in the industry.

So basically, this profit I going straight into shareholders pockets?

They could easily half there price (before tax and duty is added) and we would be paying around a £1 a litre again, they would still be making 8.5 billion in profit, or would that not be enough to pay for there nice houses and cars etc!

 

[Most Easterly Pandas]

So shell has declared an annual profit of 17 billion, just days after the OFT told is all that we were getting "a fair deal" on fuel I'm sure they said

Love to see them justify this, surely the likes of shell and BP ect can no longer grow any further? They are already the largest organisations in the industry.

So basically, this profit I going straight into shareholders pockets?

They could easily half there price (before tax and duty is added) and we would be paying around a £1 a litre again, they would still be making 8.5 billion in profit, or would that not be enough to pay for there nice houses and cars etc!

I take it you don't own shares in a company?

I don't own Shell shares, but have heavy investments in a very large international company (one that's accused of day light robbery by most) and as far as I'm concerned the more profit they make the better. I've invested so why shouldn't I see a healthy return? Same applies to any shareholder who has invested into any company tbh.

 

[Stu DemonD]

I am sure a lot of pension funds also invest in the likes of BP and Shell, why wouldn't they

They could easily half there price (before tax and duty is added) and we would be paying around a £1 a litre again, they would still be making 8.5 billion in profit, or would that not be enough to pay for there nice houses and cars etc!

Work out how many litres of fuel they sell in a year ...

Also, I was under the assumption that most of this profit comes from the production of oil/gas, etc, not the actual selling of fuel in forecourts? I take it you know their sales mix?

 

[ChrisUK]

Like stu says take a deeper look into their activities. Forecourt fuel makes up less than 10% of their profit. There's some years it's even ran at a loss (to keep it cheap as possible due to the amount of fecking tax that get put on).

Yet again it's the Government to blame using the motorist to finance their expensive, ill thought out ideas.

 

[PuntoHowTo]

Shell is also a global company so only a small chunk of forecourt sales could relate to the uk

 

[306maxi]

So shell has declared an annual profit of 17 billion, just days after the OFT told is all that we were getting "a fair deal" on fuel I'm sure they said

Love to see them justify this, surely the likes of shell and BP ect can no longer grow any further? They are already the largest organisations in the industry.

So basically, this profit I going straight into shareholders pockets?

They could easily half there price (before tax and duty is added) and we would be paying around a £1 a litre again, they would still be making 8.5 billion in profit, or would that not be enough to pay for there nice houses and cars etc!

Christ almighty, before you post, PLEASE do some research on the subject! Did you see how much of the price of fuel is made up of tax? If petrol was a quid a litre then bp, shell etc etc would be losing money. Want cheaper petrol? Go hassle the government and then see what budget cuts have to be made when the government slaughters their cash cow. It ain't going to happen to get over it and move on.

 

[sludgeguts]

We ARE getting a great deal on fuel. I heard recently that we have the cheapest fuel prices in Europe (iirc).
Then the government start slapping taxes on it. They apply fuel tax then VAT on the fuel AND the fuel tax. And then they slap another tax on top of all that.
Something like 80% of the price at the pump is tax.
Also, shell has many, many irons in the fire. Petrol & diesel is almost a waste product for them.

 

[Stu DemonD]

They apply fuel tax then VAT on the fuel AND the fuel tax. And then they slap another tax on top of all that.
Something like 80% of the price at the pump is tax.

What 'other' tax is that then

The base cost of fuel has 'fuel duty' added to it - then on that amount, VAT at the relevant rate is added, currently 20%.