Why are petrol prices rising during a depression ?
They’re rising because the profits for oil companies have dropped due to the global recession. The cost of a litre of petrol was 85p at the start of this year. The Government added 2p in March making it 87p. All rises since have been down to the oil companies raking back lost profits – they have added around 15p per litre since January. Fuel duty in the UK is exhorbitant – we all accept that as fact. But nobody has raised an objection whilst the oil companies were raising the cost and their profits. The 2p rise in duty was outlined in the March budget – there is also the rise next January of another 1p in duty plus the 2.5% extra VAT. So expect at least £1.10 a litre I detest New Labour – but this time it’s the oil companies, not the Government. The UK is viewed as a soft touch when it comes to hiking up prices – we just accept it. This time the finger of accusation needs pointing at the likes of BP and Shell. Imagine the cost when the global recession is over and demand rises – then t
