..the price has jumped here in the UK for many reasons.. Katrina knocking out a lot of refining capcity in the US hasn't helped cuz now the US is buying more on the world market, increasing demand while the supply is being restricted, hence price rises.
Although UK refineries are apparently the top 9 in Europe for effieciency. But there's no point being efficient if you've got to compete for the project harder to refine.
OPEC are not increasing production, exploration or refining , and from a purely capitalist stand point I dont blame them. Prices rise they get more money. They produce more and increase supply and prices fall they get less money.
UK petrol duty(tax) is 2nd highest in Europe, but it needs to be because we're gonna run out of fuel at some point. Making petrol expensive encourages the exploration and uptake of alternative fuels, so when the shit hits the fan it might not affect us as bad.
So the £1 a litre came around a lot quicker than I expected. I was predicting another 4-5 years.
For those in the US to get an idea of how much we pay:
1 litre = 0.26 US gallons approx
£1 = $1.82 approx
So to buy a gallon in the US at UK prices would cost $7.30 with just under 50% going in tax. As I understand it you'd be in armed revolt if it cost that much? Is that the case or have I got myself mixed up ???
Everyone will have to get up at 5am and walk to work!! Lol
Or we all just say "FUCK IT" and spend our time fucking each other all day
I.