Cheaper Petrol/Diesel/Heating Fuel (Cyprus Mail)

[trevnhil]

Well strangely perhaps, I am not really in favour of this reduction.. If the Government have a spare €50m then surely it would be better to use it on something like improving the General Hospital...
Yes, I will be pleased at paying less, but I would be better pleased at an improved Hospital..

[smudger]

Good point Trev.

[WHL]

Il take it all day long

[Dominic]

Cheaper fuel prices benefit everybody.

[Dominic]

Yes, the electricity board has to have a stockpile.

[Dominic]

I've never had a problem dealing with the staff there.

[LouiseCastricum]

Never had any problems with them.

[WHL]

Yes, the electricity board has to have a stockpile.

...of lazy staff doing sweet FA!!

That might apply to one or two, but its not a good idea to paint everyone with the same brush.

[Dominic]

Actually, you would appear to be in the minority.

[smudger]

Think it's incumbent on us all to check the future prices of electricity. If these comments re the buying - which I understand perfectly - are true, then in the future we should find the price of electricity dropping to accommodate the current drops in oil costs.

Anybody taking bets that somehow it simply won't happen???

[trevnhil]

Not too sure about this.. The 6c reduction is not because the cost of oil has dropped, but the government who have reduced the tax on Petrol Diesel and heating oil..

[smudger]

https://markets.businessinsider.com/com ... e?type=wti

Not really into commodities and oil, but this graph seems to support the latter drop in oil prices.

So we need to await the resultant drop in petrol prices. Not knowing the actual future cost of oil paid by Cyprus of course, and hence the time it will take to recoup their costs before we - the consumers - eventually feel any benefits!

[ApusApus]

Maybe the government are being clever knowing the 6c reduction in tax will be offset by the reduction in oil prices in the future!


Shane

[WHL]

Maybe the government are being clever knowing the 6c reduction in tax will be offset by the reduction in oil prices in the future!


Shane

How does that work?

[trevnhil]

The government will still lose around €50m in taxes..

[Dominic]

Maybe the government are being clever knowing the 6c reduction in tax will be offset by the reduction in oil prices in the future!


Shane

How does that work?

It doesn't, unless they raise the tax again once the oil prices drop. But they would have to announce that.

[ApusApus]

That's one way of doing it but what I was thinking was that any future drop in oil prices would not be passed on to the consumer, after all doesn't the government set fuel prices across the island or am I being cynical?


Shane

[trevnhil]

I don't think that the Government set the price of fuel. But maybe you have some evidence to show otherwise..

[Dominic]

I think the only thing the government can do is prevent companies from varying the price depending on the region. In the UK, there is a huge variation in price from region to region, because of competiton, greed, whatever. I seem to remember reading that that practice was illegal in Cyprus. This is why they all charge pretty much the same.

[ApusApus]

I don't, and as I said maybe I am being cynical!


Shane