Whose bagging all the money from sky high petrol prices?
Who bags all the money from sky high petrol prices? An extraordinary amount of profits were racked up by oil giants, according to Sky Money two of the world’s largest oil firms, Royal Dutch Shell and BP racked up a whacking 7bn in profits during the first three months of this year alone. Shell’s profits were reported at 3.9bn in the first three months of the year, up from 3.45bn a year ago, while BP saw its own profits rise 48% to 3.31bn. But Britains 30 million drivers are not quite as delighted at the news of the oil giants mega profits as petrol and diesel prices have reach record levels, with some service stations charging upwards of 1.20 for a litre of diesel. Oil companies bagged more profits when oil prices reached $120 a barrel doubling the price of two years ago and they’ve also seen profits jump from ‘upstream’ extraction and exploration. Over 50 pence fuel tax on every litre of petrol But let’s not forget that a large slice of the money we pay for our petrol is eaten up in t
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- Whose bagging all the money from sky high petrol prices?
