Haha, you obviously dont work for a US oil company then!
Profit goes up and up! bonus? no chance!
Are we not tax on petrol? This % formula multiplies the price increase.
For example, if tax is 20% on a $1 item, price becomes $1.20 and govt makes $0.20. If item price increased to $3, price becomes $3.60 and govt makes $0.60, a 3x price increase.
Some Asian govts (china, indon, m'sia) subsidize petrol or stop price increase via admin controls. How about our govt? They happily make 3x more if they can.
I think as a concern citizen, they should understand the pain people are feeling. The very least they should do is said I will take my $0.20 share and no more. Scrap the %-age tax rate to an absolute one. Their tax revenue on tax on petrol would remain the same. And they did not subsidise us motorist, right?
Are we not tax on petrol? This % formula multiplies the price increase.
For example, if tax is 20% on a $1 item, price becomes $1.20 and govt makes $0.20. If item price increased to $3, price becomes $3.60 and govt makes $0.60, a 3x price increase.
Some Asian govts (china, indon, m'sia) subsidize petrol or stop price increase via admin controls. How about our govt? They happily make 3x more if they can.
I think as a concern citizen, they should understand the pain people are feeling. The very least they should do is said I will take my $0.20 share and no more. Scrap the %-age tax rate to an absolute one. Their tax revenue on tax on petrol would remain the same. And they did not subsidise us motorist, right? This should be a fair policy since it is not welfare at all. In high inflation times like this, govt should put in efforts to put a lid on prices and not go ERP, ERP, ERP, Erapi, rabi, rapi, rapi (FROG-LIKE sounds; after a while, people can sick of hearing the word, ERP).