Diesel Has Continued To Increase At The Pumps When It Should Be Dropping

Friday, 27. May 2011

Hi, Graham Hill here, thank you so much for visiting my blog, I hope you learn a lot and as a result end up driving a great car. In order to do so you can get all the information you need by buying my book, An Insider Guide To Car Finance or use me to finance your next car. Happy driving.

Rip off Britain is still alive and well and currently living in the diesel fuel pumps! According to latest figures Britain now has the highest priced diesel in Europe even though the actual cost of the diesel before taxes is the lowest. In January the cost of diesel was 51.1 pence per litre (ppl), according to the National Statistics Office. In February it rose slightly to 52.3ppl and up to 56.2ppl in March. During the last two months the cost per litre was the lowest in all 27 EU nations. However, UK drivers are hit harder by tax than any other nation. In January average pump prices stood at 132.1ppl, rising to 138.1ppl in March, higher than every other member nation.

If the Government suggests that it wants to curb inflation and not over burden motorists they should look at the amount of tax they take from every litre of fuel, which in March was 59% compared to 39%-52% throughout Europe.

The Retail Motor Industry says that by charging so much the Government is actually shooting itself in the foot as European HGV’s can have fuel tanks as big as 1,500 litres so can easily wait to fuel up abroad where fuel is much cheaper.

It has been suggested that this high taxation could be costing the Government £1,5 billion annually. The RAC has said that fuel in the UK is rising by 1p per week and yet crude oil has dropped from its high of $113 per barrel to $100 per barrel. Something is seriously wrong. By Graham Hill

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