Fuel Watch
If you own a car, my bet is that the last time you filled the tank, you cringed when you watched the price meter rise almost at the same rate as the fuel meter.
Analysts are predicting even higher fuel prices to come. Forecourt managers are wondering where the hell they are going to stick the extra digit. Murmurs of more fuel protests are abound.
Last week, the average price of a gallon of US fuel rose by 45.9 cents or 17.586% to $3.069 (Source: U.S. Retail Gasoline Prices). Last year, the average cost of a gallon of US fuel was $1.6589. In 12 months, US petrol has increased in price by $1.219 a gallon or 65.89%.
Despite this monumental rise, how does a litre of US fuel compare to a litre of UK fuel?:
In the US diesel is cheaper than petrol (unlike the UK):
Here are some more disturbing facts (courtesy of the BBC):
The breakdown of a 90p litre of fuel goes as follows:
A 91p litre of fuel has a 67% tax rate in the UK. Arguably this is comparable to many other coutries in Europe, however, when you compare the ratio of tax generated to the money spent on roads and public transport, you get a very different picture (figures from 2000-01):
In the US the ratio is even. In Germany it is 1.3 to 1. In France it is 2 to 1. In the UK is is a staggering 5 to 1. In 2000-01 the Government raised £37.7 billion from Road Tax, Fuel Duty and VAT on fuel. It spent £7 billion on local roads, parking, public transport and national roads.
Is it really any wonder the UK motorist feels ripped off?
Filed under: Politics, Fuel Cost
Analysts are predicting even higher fuel prices to come. Forecourt managers are wondering where the hell they are going to stick the extra digit. Murmurs of more fuel protests are abound.
Last week, the average price of a gallon of US fuel rose by 45.9 cents or 17.586% to $3.069 (Source: U.S. Retail Gasoline Prices). Last year, the average cost of a gallon of US fuel was $1.6589. In 12 months, US petrol has increased in price by $1.219 a gallon or 65.89%.
Despite this monumental rise, how does a litre of US fuel compare to a litre of UK fuel?:
So there you have it. Petrol in the UK is 2.1771 times more expensive than in the US.
US gallon average price $3.069 US gallon to litre conversion 3.785 $ per litre $0.811 Exchange rate to GBP $1.8407 Pence per litre US £0.441 UK cost per litre £0.959 Difference £0.518 Factor 2.1771
In the US diesel is cheaper than petrol (unlike the UK):
Diesel is 2.4 times more expensive in the UK than in the US.
US gallon average price $2.898 US gallon to litre conversion 3.785 $ per litre $0.766 Exchange rate to GBP $1.8407 Pence per litre US £0.416 UK cost per litre £0.999 Difference £0.583 Factor 2.4017
Here are some more disturbing facts (courtesy of the BBC):
The breakdown of a 90p litre of fuel goes as follows:
- Duty 47.1p
- Product 23.2p
- VAT 13.4p
- Retailer/Delivery 6.3p
A 91p litre of fuel has a 67% tax rate in the UK. Arguably this is comparable to many other coutries in Europe, however, when you compare the ratio of tax generated to the money spent on roads and public transport, you get a very different picture (figures from 2000-01):
In the US the ratio is even. In Germany it is 1.3 to 1. In France it is 2 to 1. In the UK is is a staggering 5 to 1. In 2000-01 the Government raised £37.7 billion from Road Tax, Fuel Duty and VAT on fuel. It spent £7 billion on local roads, parking, public transport and national roads.
Is it really any wonder the UK motorist feels ripped off?
Filed under: Politics, Fuel Cost
0 Comments:
Post a Comment
Links to this post:
Create a Link