In March 2008, the price of a gallon of petrol hit 5 pounds first the first time.
Petrol prices in the UK are now the most expensive in over 100 years.
The Tax cost of petrol
The price that you pay for petrol at the pump is made up of an unbeliveable 73% Tax.
Whats next for petrol prices
Currently Alistair Darling, Chancellor of the Exchequer, has temporarily postponed
the scheduled increase of 2p to the price of petrol in April 2008 for 6 months
until October 2008.
With Crude Oil pushing on $110 a barrel, the price of petrol and diesel over
the next year seems likely to only keep on increasing.
The effects of rising Fuel prices
The pound in your pocket doesn't go as far anymore. FACT.
The inexhausable increasing of petrol and diesel prices at the pump
is having a inflationary effect on the whole UK economy. More expensive diesel
means that the transportation of goods from suppliers to consumers by UK haulage
firms is inevitably being passed onto UK consumers in the form of higher prices,
especially basics like bread and milk, bought in supermarkets.