From 2007-10-01 the main road fuel (petrol and diesel) duty rate in the UK is GBP£0.5035 per litre.
The rate for biodiesel and bioethanol is £0.3035.
Jet fuel used for international aviation attracts no duty, and no VAT.
This is not the whole story, Value Added Tax (VAT), currently at 17.5%, is also charged on the price of the fuel and on the duty. At a pump price of 100p/litre (typical for unleaded as at November 2007), this would put the combined tax at 65.24p/litre, or approximately USD$4.84 per gallon. (Thus without tax, the retail price would be 34.76p per litre, making a combined tax rate of 188%.
So for the average TorqueCars driver doing 12,000 miles per year would spend £1,599.60 on fuel (assuming a steady 34 mpg and £1 per litre!) which actually adds up to a pretty heafty tax bill. (Without tax this driver would spend £553.20!:shock
At least the latest 2p per litre increase is postponed for another 6 months.
The rate for biodiesel and bioethanol is £0.3035.
Jet fuel used for international aviation attracts no duty, and no VAT.
This is not the whole story, Value Added Tax (VAT), currently at 17.5%, is also charged on the price of the fuel and on the duty. At a pump price of 100p/litre (typical for unleaded as at November 2007), this would put the combined tax at 65.24p/litre, or approximately USD$4.84 per gallon. (Thus without tax, the retail price would be 34.76p per litre, making a combined tax rate of 188%.
So for the average TorqueCars driver doing 12,000 miles per year would spend £1,599.60 on fuel (assuming a steady 34 mpg and £1 per litre!) which actually adds up to a pretty heafty tax bill. (Without tax this driver would spend £553.20!:shock
At least the latest 2p per litre increase is postponed for another 6 months.