It is scandalous the way that the oil companies control the Gov. and Senate, we can ultimately 'thank' them for everything from the war in Iraq to the recession. The forum discussion at Tourdates.co.uk just hit the nail on the head - until they are made more accountable we will ALL pay the price.

JJStoneman, New York, USA

Are they trying to make our heads explode or just plain taunting us?

Steve, Trenton, nj

"Boycott Wednesdays" it may or may not achieve something but its shows we have a voice and it shows solidarity. Venting spleen on a forum achieves nothing. Come on people Boycott Wednesdays ! there are 6 more days in the week to fill your tank so you dont have to leave it till Thursday to fill up!!

Mike, Harrogate,

On a planet where at least half the population scrapes by on $2 a day anyone who justifies or condones profits like this needs to be stripped of all their posessions and dumped in Somalia for a reeducation of their priorities.

paul, rugeley,

Gareth in Swansea raises an important point about a journey which is necessary - to work. I think that what people must realise is that oil is a finite resource, and that it will become more expensive. What we should be campaigning for are cheap and reliable alternatives to travelling by car.

Paul, Takatsuki,

I think we all forget how many other luxuries in life could not be made without oil. 50 years ago, having a car was a luxury. We have all grown used to cheap credit and cheap prices. The world of easy cheap oil has gone! If these companies don't have money to grow, oil prices will go up more.

Chris Davies, Aberdeen,

How is it justifiable for BP, Shell and others to charge so much and boast about their huge profits? People need to drive to get to work and things so the companies could charge whatever they like and people would still have to pay. It's not like we've got any other option is it.

Mike, Poole,

The oil companies should be forced to build refineries with some of the profits. With the oil we have we don't have enough refineries to put the oil on the street for consumers. Our government needs to force us to prepare for tomorrow, since the companies don't want to spend their profits.

MaxineM, Leesburg, USA

These number are meaningless unless you know the profit margin. Did they make 50% profit or 0.05% profit?

Cossa, Whitwell,

What is the profit margin? That's the only relevant information to know.

Joey, Washington, DC, US

We are suffering and they are making record profits. Doesn't logic state that they should be at least besuffering a little bit. Fact is they keep raising the amount because they have to make more this year then last year. They could lower the prices and make 2 billion this year instead of 50 billion

Greg B., Orlando, USA

Prices do not change only the value of money. these price hikes in oil really only reflect the falling value of fiat currencies versus the only 'real' currency ie energy. Oil is undervalued by the majority of the occupier's of this planet; price implies 'money' - not 'worth' anything - oil is life!

Peter Dixon, Berwick,

Reality:
Oil prices fluctuate so that supply matches demand.
Oil companies and governments take a cut when oil is transacted.
If you don't like this state of affairs, don't buy oil products.
Recipe for lower prices: 4 or 5 billion people buy less. Who's first?

Oliver Wilcock, Woodstock, Canada

Listen folks....like it or not, oil is the lifeblood of democracy and capitalism today. Until Western democracies can control its supply, or find alternative sources( takes many years) we will suiffer from these fluctuations. Complicate this by the government special interests in the industry.

SteveO, Granby, USA

This is all driven by greed. The greed that will destroy this world and bankrupt the middle class. Thank you George Bush.

Charles, Valparaiso, USA

Quit whining and buy some BP stock.

Dan, St. Paul, MN, USA

I see the economically illiterate are out in full force this morning.

Demand higher than supply. Most Oil profit is made from exploration and production of OIL not the resulting petrol.

We have the most expensive petrol in Europe - look to Brown and his cronies for that.

David G, Carshalton, Surrey,

> Would someone be kind enough to explain to me how petrol is >12p a gallon in Saudi Arabia and 5 pounds a gallon in the UK?

>leila , manchester, uk

That is easy. Saudi Arabia is an oil producer whereas yours is a treasure island.

Yang, Shanghai, China

thats only a profit of around 10 to 20%. yes they have made lots of money but your only getting part of the picture. their costs have also gone way up. Do they not teach basic economics in england anymore you cant just look at one number.

Steve, tampa, fl, usa

Of course total "profits" will be high if the product has doubled in price - it's profit MARGINS that matter.
I'd like to see an article on how much more money the govt. is taking from the citizenry due to the increase in prices.
But don't hold your breath.

Dave, Miami, US

Seems like there's profits and then there's gouging. Profits are beating estimates. Gouging is record profits during times of rapidly increasing prices.

Part of the reason for the increased "price" per barrel of oil is the crash of the US dollar and the fact that oil is often dollar-denominated.

Echo, Dunedin (formerly Wash., DC), NZ

Oil's cost and risk goes up. That raises the price of gas and, in turn, proprtionally, increases profts. Profit margins are there to provide reward for proper investment. It's capital for new investment and cushion for risks. Everybody on this column should go read 1 book on economics.

Brian, Tulsa, OK, USA

Good! Let them bank while our collective stupidity allows for demand to continue to rise. As the crises deepens, we will be forced to solutions. I'll weather the storm while retraining myself with to be as valuable as possible within a post oil local living economy.

Cristian, San Diego, USA

Boycotting the pumps proves nothing. So we don't buy gas on Wednesday. Well guess what? We will all be there on Thursday because we need the gas. It will just be more crowded the day after a boycott.
The only thing we can do is cut back on usage all around. And that will probably not help either.

T, Harrisburg,

Where does £5.00 a gallon come from? It's been £5.24 for a while now. Should never have changed over to liters, it just allows large increases to seem less.

Ben Chalmers, Bedford, UK

due to rising cost at the pumps now people have to do over time to just fill up there car but what we all need to realise is that its not the garage its self those staff inside petrol stations are just as annoyed as public but they do get alot of stick over rocketing prices.

neil, manchester, uk

Same old excuse, most of our profit comes from exploration and refining, we make next to nothing at the pumps. No because you build the profit into the refining and distribution to hide it away. You choose to pass on the increases because it's more money in your pocket and sod the public.

Ron, Milton Keynes, Bucks

I am for capitalism but sheesh... there comes a point to where goods and services are no longer a luxary item and becomes a necessity in order to live in today's world and I'm afraid the automobile falls under the later remark. The greed [of whomever it is] is going to crash the economy.

Jerry, Yakima, USA

What do you expect them to do? They're hardly going to give it away for free, are they? They're corporate businesses, and they're chasing after profits - there's nothing to complain about.

If you want to pay less for your petrol, then look to Gordon Brown and Alistair Darling - most of it is tax!

Latch, Cambridge, UK

Oil literally powers the world and it's a scarce resource - no wonder it's expensive. Demand is driven from necessity in this market which is exactly why the government can and does make 65p in every pound spent at the pumps. We'll pay and pay for petrol becuase cars are useful. Deal with it!

Neil A, T Wells,

Petrol prices in the UK are so high because of UK taxes on it. I live in London and NY and pay a fraction of the price for my petrol in New York.

The British government are the rip off men, not the oil companies.

Nick, London / NY, UK / US

Why should the Scottish dispute effect fule prices now? The oil companies hold 90 days stock, so the price should not change until those stocks are run down! Bet it won't happen that way!

Ron, Milton Keynes, Bucks

The Government should start taxing the profits for companies such as this. Then maybe the price of produces would be lower for all.

Matt Eade, Scarborough,

Perhaps I missed it, and the information is in the article, but what is the rate of return? The dollar amount, in a sense, is irrelavent. Dwelling on it without perspective (what rate of return do other business generate?) does, however, agitate people.

S Divine, Lubbock, USA

It is about time the British people stood up and said enough is enough, we are subsidising the rest of the world becouse they would not put up with the rises we have in this country. We must make a stand before it is too late.

Mark, Truro, Britain

When are the masses going to wake up? When the price of oil goes up and these companies raise prices ACCORDINGLY, they shouldn't make any more profit than normal. Instead, they take advantage of the fact that many people don't use even an inkling of critical thinking skills and gouge us all.

Cowicide, Colorado, USA

In Pennsylvania, families are really starting to suffer. I think when gas hits 4pounds here in the states as predicted within the decade, Exxon and their asshole cohorts will get the rude awaking as they so richly deserve. Business and civilization will cease to exist on the level that we know.

J, Pittsburgh, USA

Absolutely scandalous profiteering by the petrochems, particularly poigniant when INEOS workers are striking to secure the financial future of their workforce against constant procrastination and declatration of the business not being on a sound financial footing.

Dak man, Berlin,

It's unbelievable that gas prices would be so high and war would be so costly. You'd think with the Bush's connections to oil and Cheney's connections to military industry we would have gotten a discount! It would be enlightening to see the minutes from Cheney's energy meetings.

W. Bennett, Phoenix, AZ, USA

More profits due to increased volumes. What the article fails to say is what are the margins? If they don't increase, then the profits are purely volume increases and have nothing to do with Oil Company greed....of course the economically ignorant won't care, Makes a good headline. Profit is good

Phillip J Hubbell, Omaha, USA

It's the fault o all three parties, OPEC, Oil Industry AND Government. If Government reduce the tax, then the oil companies will just raise the price by the same amount, like they did a few years back when a 2p per litre tax increase was deferred a few months, the pump price still went up 2p!

Ron, Milton Keynes, Bucks

Is it just me, or has anybody noticed that the skyrocketing of oil prices, the decline of the U.S. economy can be timed, almost to the minute, that the Democrats took control of the U.S. Congress?

George, Ogden, USA

There is no shortage of oil. There is a shortage of refineries to produce diesel and gas. Gas prices are high because leftist environmentalists haven't allowed a new refinery built in in the U.S. in 30 years.

Craig, Dallas,

At this point, supply and demand has little to do with the current oil price situation. It all comes down to the speculators on Wall Street, London Exchange, etc. It's sickening really that so few can make life difficult for so many!!

Olivia, Indianapolis, USA

The government controls their suppliers.
The government controls their margins. (1/2 of the profit protesters couldn't tell you what a profit margin is)
The government dictates where they can work.
The government reaps the most profit per gallon.

Am I to believe oil companies are to blame?

Matt, Yorkville, IL, U.S.

"Pre-taxed earnings". 1st the government taxes you at the pump, then after making a few bucks they tax the oil companies, and everyone in between . How much did the government take in ? And, what did they do with it ? "Think" about it .

Jim, Somersworth, U.S.A.

Spanky in USA.......Time to nationalize the energy companies as vital to National Security, and, since it is a national security issue, remove oil from the commodities market alltogether........STILL, a better solution is ALL ELECTRIC cars and buses...These are held back by choice of BIG OIL,

Spanky T Smackme, Hell Arizona, USA

If the price we pay is supposidly based on the price of a barrel, then one would think these companies would be hurting too, but this is not the case. Record profits quarter after quarter... We are being taken to the cleaners and our governments are doing nothing about it! Time to regulate I think!

Eric, Idaho, USA

W. Cline brings up a valid point: is this gross or net profit? How it it being calculated? The appearance is that it is "net."
Post the names, addresses and bios of the management on the internet. Standard and Poor's as well as Moody's have that info. Time in the goldfish bowl will clear things.

Jubal, Los Alamos, USA

Boycotting the pumps will do no good as they will just raise the price again. Our economy depend on gas, and as long as the gas companies/speculators control the prices we will pay the prices. This a monopoly to anyone who looks at it.

Alex, Albany, USA

Every day another step closer to a social uprising. Keep stoking the fire Gordon you will achieve your goal eventually.

Cromwell, Leeds, England

Josh is exactly right. This article completely ignores that oil companies are taxed at every turn in the oil production game. The government, ultimately, is the one who profits from high gas prices.

Miller, Chattanooga,

I simply do not get it. Oil companies are blaming OPEC for setting out-of-control prices for oil coming out of the ground yet they are also reaping these record profits. And these profitis are at the expense of wrecking our economies. How will becoming "energy independent" return normalacy?

Owen Youngblood, Dallas, Oregon, USA

Why don't we have the oil companies pay the gas tax for a year or so.

Rosie, Austin, USA

Based on
"Shell's earnings of $7.776 .. rose to 3.522 million barrels of oil equivalent per day.", let's say that oil was at $100/barrel (to make math easy).
Shell is working on 2.5 % margin. The gov't is getting 8% or more. Other than groceries, not many industries survive on this margin.

chuck, New Mexico, US

Sports are entertainment. Stop buying tickets and the salaries will come down. Gasoline is a necessity. We can't stop driving and support our families.

George, Howell,

There are not enough natural oil reserves in the US to meet demand. Our two biggest sources of foreign oil, Canada and Mexico. the reasons we need so much oil, we still drive cars because every MPG increase is fought tooth a nail by the oil and car industries. not to mention we need so much plastic

Louis, Phoenix, USA

This story is deceptive; people should be blaming the Arabs in OPEC, not the oil companies. Oil is at $110+ a barrel, that has NOTHING to do with oil companies.

Mark, LA, USA

America: You've got a choice. We've allowed self-serving congressmen and environmentalists to prevent US exploration, stop drilling in Alaska or off Florida's coast or build new refineries. Put your money and efforts where your rmouth is. Vote 'em out!! Become activists! Cut the red tape!

Richard Van, Clermont, Fl , USA

what about the tax breaks these co.'s get on top of these profits? Why is there no concerted effort on the US gov't to push non- gas powered cars? The successful electric cars from 30 years ago were killed, new EV are even better and not supported by industry. The compressed air engine is better

Louis, Phoenix, USA

Why does this story not mention the profit margin? Sure, profits are up, but so are costs. Has the profit margin increased or is the increased profit due solely to increased costs being translated into increased prices?

Larry, Austin,

Uh... profit is good. It allows oil companies to undertake large projects that employ thousands of people. But, if you would like people to get laid off, by all means, sqwuak about oil prices. Maybe you forgot about the mid 1980s when Houston was a ghost town, or the mid 1990s...

Scott, Houston,

Dividends up 11%. They are only making an extra percent in profits off of revenues (still around 10 cents on the dollar). Its sad how the collective governments of the world have successfully neutered the general economic understanding of its people. Governments make more "profit" off oil than Sun

Brian, Tulsa, OK, USA

What stories like these fail to mention is who makes the greatest amount of profit on oil and gas, and that would be the government. Where is the outrage over this fact??? Where is the outrage over sports star's salaries? Oh that's right, they enterntain us, so it's ok.

Josh, Virginia,

It's unbelievable that we live in a culture that allows this to happen. It's not just the Oil Companies that make the profit, the true blame is on the refineries. WE allowed this to happen, not a any particular country. This is a global issue that know no geographical boundaries.

Robert, Jacksonville, FL, USA

liberal socialist governments have over regulated to the point supply is tight...no drilling in our territory..no refinery built here...and lets tax to pay for roads and such. now we are beholden to foreign sources of oil who can restrict supply. lets win the war in iraq and ease tensions and increase supply of me oil and oil at home.

rdoctord, houston, usa

Boycott the pumps once a week!! Its easy to complain about prices especially when we don't try and do anything about it. We should Boycott the pumps once a week (Wednesdays) its an easy thing for us all to do and it would show that we are united as a nation. Go on Boycott the pumps every Wednesday.

Mike, Harrogate,

The raise on oil prices are due to three reasons. One the federal reserves "private bank" is inflating the "reserve notes" therefore more money must be asked to receive the same amount of money. Two, political unrest such as the crack-pots in Venzeuala & Iran. Three, Greed among the muslims "oilers"

scott, Lock Haven, America

Oil companies seem to be applying the same profit margin to the increase in cost and passing it on to the consumer. 50% of £5 will always be more than 50% of £3. It's price gouging at its best. The pharma indursty has been doing it for years. I guess we'll see more of this in years to come.

Steve M., San Diego CA, US

This news is misleading. The question is whether their net profit, as a percentage of gross sales is up.
According to the what I have read the average net percentage of oil and gas companies is under 10%. that is a modest return on investment.

W Cline, N Canton, USA

Disallow speculative trading of oil and gasoline in the stock markets.

simpleyright, USA,

Steal from their employees and executives what you can.

Angry Motorist, washington dc,

What were their sales and how much total taxes did they pay on this oil, eh?
How much in taxes does the Government get from every gallon of petrol?
There is more oil that we have found every day that we are not drilling. 20 Billion barrels of oil has been found in the Dakotas in the USA.

Victor, Bloomfield, USA

Fuel projected to be £2.00 a litre next year.

Everyone is being crippled by the price of fuel and taxation.
For those of you who want to fight back go to the following site.

www.toamazing.com/fuelcell4 truckers.html

Jas, Alders, UK

Owen (from London), not eveyone lives in London. Not everyone has a choice to use public transport.

lee, bristol, UK

"Would someone be kind enough to explain to me how petrol is 12p a gallon in Saudi Arabia and 5 pounds a gallon in the UK?"

Yes, I can explain: it's because they don't charge as much for it over there. And also because here, they charge a lot more.

iain carstairs, bedford, uk

OPEC blames a weakened dollar for the high cost of oil. However, it is the actions of OPEC nations that have helped lead to the weakened dollar.... go figure.

David, Missouri, USA

this is insanity, is anyone going to step in here?

Matt, Mpls, USA

It's important that the government bleed us for the 100% tax on petrol (so £2.50 a gallon gets £2.50 tax, giving us a £5.00 price) so they can build nuclear weapons. These protect us from those elements in society who want to take our wealth.

It makes sense, if you live in cloud cuckoo land.

iain carstairs, bedford, uk

Greed, power, and ethnocentrism, in my opinion, are at the root of the mess we are all in. Doesn't matter if we live in Europe, America, or ...

John Cobert, Texas USA

John Cobert, Vidor, Texas , United States

Have you noticed that the media never mentions profit margin. They point out that 'big oil' made $13 billion but they never mention that 'big oil' had to spend over $130 billion to do it.

Howdy, Toccoa, USA

of course it will hit $200 a barrel, just as it was manipulated when it was pushed up to 50 then 70 then 100 then 120 dollars a barrel. as long as speculators are allowed to 'play with the market" the price will go up. speculators are nothing more than a bunch of parasites.

stephen baron , leith, tasmania

How can this be? I don't understand it. We are told time and time again that the cost of crude is putting the prices up at the pump. So how then are they making their biggest profits ever.
Who cars about the customer as long as they make record profits - NB, PROFITS not earnings!!!!

Ian lawson, Munich, Germany

I agree, it is the hard working [ublic who suffer everytime fuel costs go up. How can iol companies justify the rise in the face of such obscene profits? And according to OPEC (the biggest winners), it will only get worse. Time for some organised civil disruption.

Ron, Milton Keynes, Bucks

Someone should ask these oil companies what the cost of a barrell of oil is when it leaves the ground. They will never answer that question as it will show what obscene profits they are really making.

George, Wadebridge, UK

With prices rising across the board, can't afford petrol, can't afford food. Any guesses how long it will be before taxes are levied on those who exercise for taking up more oxygen than otherwise required?

Farrukh, Woking, UK

Here's a suggestion to people - DON'T DRIVE. Get on public transport, it ain't cheap but at least you're not participating in this farce.

Owen, London, UK

Never mind the poor getting poorer - I'm a teacher - it's still hitting me hard because I have to travel to get to work. It's all very well for Paul, Takatsuki, to say "Leave the car in the garage and only drive when absolutely necessary!" - perhaps he can walk to work.

Gareth, Swansea, Wales

I haven't bought a gallon of petrol in years and had no idea they cost £5. I can't find any gallons on sale so perhaps it's supply and demand.

Dave, Cardiff,

Would someone be kind enough to explain to me how petrol is 12p a gallon in Saudi Arabia and 5 pounds a gallon in the UK?

leila , manchester, uk

Supply and Demand. An increase in demand, due to a flat supply - will result in higher prices. The US government has allwed this to happen, by developing barriers for companies to access oil reserves. In addition, we haven't built a new refinery in the US in 30 years.

chad, huntington, WV

"These companies are in business to make money. Its allowed. Its one of the corner stones of our society. "

Hmmm,
More like the tomb stone of our society..

JimBo, Ithaca NY, USA

This is not just the oil companies at blame. The taxy duty on a litre of petrol is about 60pence, so that drives a lot of the high price.

OPEC are being allowed to cut capacity when we have record oil prices $120, going to $200 if they get their way.

Only in oil production are cartels allowed.

Andy, Walton on Thames, Surrey

This government is determined to drive the motorist off the road, one way or another. If they can line the pockets of oil companies and ultimately there own pockets while doing so, then, so much the better.
I have no trust in this government since Brown took over, he seems to favour the rich.

Stephen, Jarrow,

These companies are in business to make money. Its allowed. Its one of the corner stones of our society.

The government is making far more money out of petrol and diesel than shell or bp. Remember there is a delayed tax rise on the way.

Brown Taxes!

Dave B, kelso, scotland

its the oil companies way of paying for the the war and also the governments way to get some money back for all the arms etc. come on you know we would all have to pay for the war in the end.

neil, paignton,

As an analyst/journalist/consultant in the energy sector one of the questions that fascinates me is what would have been the consequences if the UK had followed Norway's example and nationalised its main oil company in the early 70s.

DickW, Aberdeenshire,

You CAN hit these multinationals' profits. Leave the car in the garage and only drive when absolutely necessary!

Paul, Takatsuki,

Oil has risen due to Opec members being unable to raise production and problems in Nigeria. High pump prices have little margin effect on oil co's retail business and Grangemouth is irrelevant in the overall scheme of things. It's simple supply and demand and global markets. Buy Shell, Bob and Benzo

jonathan anthony, london,

Chris from New Zealand - these prices are perfectly justifiable. They are profit making companies whose aim is to make money for their shareholders. Immoral it may be if you don't support capitalism, but justifiable it is.

Paul, Cambridge, UK

Petrol 'nudges' £5 per gallon? In east devon I have paid £5.10 for several days now.

charon, axminster,

Don't worry about that our labour goverment hsve done very well with all the additional fuel duty they've collected.

Of course they've been saving the money not wasting it on the expenses

Steve Mohley, Dudley, England

Oh put the red flag down! BP and Shell have limited control over the price in the marketplace which tends to be effected by supply and demand and more recently speculation. Good to see British companies making money, maybe these wont need to be nationalised by our bumbling government!

Rowan, London,

These figures pale into insignificance compared to the amount taken by the Government in taxes etc., with the high cost of petrol and diesel being built upon a foundation of Governmental greed. When the 'price' of oil increases the taxation increases at a far greater rate thus providing more revenue

Alan, Derby, UK

How can they possibly justify the huge increases in price at the pump and then post massive profits...astounding!!!

Chris, Christchurch, New Zealand

And our labour government allow the poor to get poorer because of companies like this.

Bob, warrington, cheshire

So why has petrol gone up ? to pay for these extra profits ? We are suckers !

Benzo, Nr Chelmsford,