because the UK levies a large amount tax on fuel but tenerife doesn’t
the massive increases are mainly due to aggressive commodity trading as a result of the financial market credit crunch, issues cornerning the weak dollar, and supply concerns
prices of brent crude have reached record levels over and over in the last few months. it used to be a crazy notion that it would reach $100 per barrel, its now breached $130
as the tax is proportional and the unit price has increased, the government does currently have room to reduce the percentage, without reducing revenues. should the barrel price return to more reasonable levels, then they’d face the unpopular decision of raising duty on fuel again tho.
taking a guess but as an emerging market the price may be subsidised by government intervention or deals with the region in order to supply more lucrative commodity products/extraction. maybe local extraction and refinement. lower demands etc
will also cost less to produce DERV for that region as their fuel quality will be much worse than ours
I got to admit its expensive for petrol but sorry to say I really don’t care as I’ve not had to pay for petrol for the last 4 years one of the perks for working for a oil tycone how happens to be the richest black man in the world thanks boss
Already been a few occasions when people have not been able to come out on their bikes because of petrol prices, how long is it gona be before we have to ration our meets on the bikes, and even decline rideouts over summer cause some of us cant afford the petrol!
One of the reasons that I am riding carefully at the moment (the other being the ribs). Sensible commuting in the mornings mean that I am currently getting 250 miles to the tank (19L) This morning I filled up at 241 miles for the use of 18L, works out at 60mpg. Next bike will have to be a frugal as this one.
My understanding of the reason fuel is so cheap in Venezuela is that it is a truly socialist oil producing country. Whilst the UK produces oil but allows oil producers to make huge profits from oil exploitation and then taxes the people whenever they try and buy some of the expensive fuel that the producers try and sell them. In Venezuela the Government taxes the oil producing companies and uses the revenue to ensure the people have cheap fuel and are not exploited by the oil companies. Both models work, but different people see the benefit.
I filled up my car the other day - £80. Yes, you read it correctly. 80 quid from fuel light flashing to full tank.
F***ing hell’s bells.
Apparently, we have the cheapest “before tax” petrol prices in Europe, but after fuel duty, and then VAT (yes - we pay VAT on the tax, so we are taxed on the tax we pay - ffs) it becomes very expensive.
I’d start another petrol blockade, like in 2000, but I can’t the afford the petrol to get to the Scottish refineries.