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Why are petrol prices so high?

The price of oil over recent months has fallen by over 18 percent. Yet the price of petrol on the forecourt has risen in real terms by 1.5 percent. Now, Maths was never my strong point at school, but that doesn't seem to make much sense to me.
We continue to reaad that oil companies say this is due to a combination a rise in exploration costs and production costs. Yet oil companies continue to make billions each year in profit. Some of this they claim goes to creating more efficient fuel, but we all know that most goes to shareholders.
Who is with me in seeking for a reduction in forecourt prices by a combination of reduced profits for the oil companies and reduced level of taxation. Fuel is one of the biggest burdens for households and business. Cheaper fuel means better value for all our goods and better standard of living. This is something that the oil companies can absorb given their continued level of high profits. Please sign if you agree!!

This e-petition has been rejected with the following reason given:

It did not have a clear statement explaining what action you want the government to take.

You can't sign this petition because it wasn't accepted for publication. But you can still give your opinion on it here at Repetition.me!
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Signatories

1

Status

Rejected

Created By

Liam DeMarney

Created On

Sunday 14 August 2011

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