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UK Petrol Prices .... why are they still going up????

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posted on Feb, 21 2004 @ 05:06 AM
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Here in the UK we are forever told the the price of petrol is always getting higher because of how strong the dollar is to the pound. The strange thing is that at the moment the pound is now much stronger than the dollar is and the price of our pertol is still going up???? why is this??? are they just trying to con the british people senceless???




posted on Feb, 21 2004 @ 05:11 AM
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I think you answer your own question at the end Djdohboy mate



posted on Feb, 21 2004 @ 05:19 AM
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unfortunatly I think you may be right Supernova!!!!!



posted on Feb, 21 2004 @ 06:15 AM
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Part of the problem is that tax or duty on fuel,alchohol,and tobacco are fixed amounts and not percentages of the price.

The majority of the cost of all three is fixed tax.

Also as the Dollar weakens the cost of Oil,Gold and other safe investments goes up.This means that although there are more Pounds to the Dollar there are more Dollars for a Barrel of Crude.

If the Oil value remained the same then a Pound would buy you more Oil.It is going up so it doesn't.



posted on Feb, 21 2004 @ 06:29 AM
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This is why.






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