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Oil prices are not economically justified
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Price policy in the oil market is not economically justified. The only ones to benefit from it are stock market speculators, not fuel dealers, Chairman of the Board of Latvian Fuel Dealers Association Martins Stirans believes.
He notes that nearly 50% of the fuel price is determined by taxes, and the other half – by the stock market fee. Dealers’ profit, received from the difference in the fuel price in wholesale and retail trade, is around LVL 0.05 per litre. And this money is used to pay worker salaries, taxes and overall maintenance, area expert notes in an interview to Good morning, Latvia! broadcast of the LNT television channel.
According to him, fuel export countries benefit the most from the record high prices. Meaning, countries of the Middle East, Russia and Venezuela, Stirans says. The export also notes the Latvian fuel market is concentrated, and «there are too many players». As it seems, Latvia has three times more petrol stations per one person than Great Britain does.
Ref: 103.109.109.1231
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Bozo the clown @ 2013-05-22 11:22:05
No doubt Latvia metallurg will highly contribute to the growth of that country.
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JPR @ 2013-05-21 19:07:44
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Oddis @ 2013-05-21 18:22:38
So, according to your logic, you can tax as much as you can as long as you can afford it?
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LH @ 2013-05-21 16:42:55
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Hugo @ 2013-05-21 15:13:29
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