EXPRESS
‘Record’ profits likely to spark renewed calls for windfall taxes
Energy giant Shell is set to announce record annual net profits of more than £32.3billion at its results on Thursday, on the back of high gas and oil prices.
By GEOFF HO:
The bumper profits expected from Britain’s oil majors is likely to spark renewed calls for windfall taxes.
Howard Cox, founder of campaign group FairFuelUK, said action is needed from the Government to stop oil groups “ripping off motorists” and adding to the cost-of-living crisis.
He added: “In a time of huge inflation, striving so hard in order to fill up your essential car, van, or truck at a Shell garage, you can be comforted you have helped double this global oil
giant’s already mega profits.
“It is even more sickening that forecourts like Costco can sell petrol and diesel so much cheaper, 10p to 20p per litre less than Shell.
The ruthless exploitation of drivers by the big oil brands has to be checked.”
Analysts believe Shell will unveil a £32.6billion profit, after its revenues shot up 51.5 percent to £320.3billion. Its full-year dividend is tipped to be hiked nearly a quarter to 90p per share, a payout worth £6.3billion to shareholders.
