Originally Posted by
Baldeep Inminj
The Gov't says the exhorbitant price of fuel is driven by the war in Ukraine. Perfect! We have a delicious scenario in which the problem can be it's own solution...
Gas/Oil/Petrol/Diesel prices have gone through the roof - the Gov't says 'because of the war in Ukraine'. This means the Government is unexpectedly raking in a huge dividend in taxes. I submit that they should give this windfall, in it's entirety, to Defence. This may help to end the war more quickly, thus reducing the price of fossil fuel once again, and it's 'free' money as it was never planned for in the budget. Am I missing something?
Oh, and Brent Crude is $117 a barrel today and petrol is over 1.90 per litre. The last time it was $117 a barrel, petrol rose to 1.25 per litre but no higher. Someone is lying to us.
They did say that although they are making more tax it is being offset by the extra costs to them in both fuel and other commodities they purchase. The fuel price is down due to them cutting refining capability, so although oil is cheaper, refining it is the problem and supply shortages drives up the price.
read
https://www.reuters.com/markets/comm...ch-2022-06-22/
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