The rising cost of fuel is affecting millions of people worldwide. We need petrol to run our cars, aeroplanes, and industries. So where does all that fuel come from, how does it get to your local pump and how does the cost breakdown?
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The rising cost of fuel is affecting millions of people worldwide. We need fuel to run our cars, airplanes, and industries. So where does all that fuel come from and how does it get to your local pump? Read on to find out.
It’s convenient for motorists to pull up to the pump to fill up their vehicles. But where does that fuel come from and how does it get to your local petrol station?
Certain oil-rich countries take the lion’s share of the world’s crude oil supply. The top 10 oil producers include countries from nearly all parts of the globe.
Barrels Produced Per Day
United Arab Emirates
Fed up with the price you’re paying at the pump? Some other countries may have it worse off. In some places in Europe, drivers are paying roughly £1 per litre, but in others the price soars to more than £1.50.
In just the last 20, the price consumers pay for fuel has nearly doubled. Though the figures include both dips and spike, the last few years have seen steady price increases for motorists.
As of the end of March 2012, the average motorist in Great Britain was paying about 58 per cent of the price of petrol on taxes and duties. Here’s how it adds up.
Pre-Tax Price Per Litre
Taxes and Duties Per Litre
Pump Price Per Litre
As of 26 March 2012
SOURCES: EU OIL BULLETIN, ENERGY INSTITUTE, DEPARTMENT OF ENERGY, PETROLPRICES.COM, CIA.GOV
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6:41 PM on 23/04/2012
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If all above is true, then oil magnates make a profit of over a 100%.Vat, fuel duty, etc are just other names of the word.THAT`S RIDICULOUS
6:49 PM on 23/04/2012
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Can you do the same for Diesel please/
10:43 PM on 23/04/2012
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just proves that the goverment are greedy and ripping the british people off and they want to put the price up in august by 3 pence a litre that will mean 5 pence a litre more food prices to go up well sorry everything will go up and more unemployment just pure greed and this goverment say they care get the million airs out as they are not in touch
9:32 AM on 24/04/2012
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The rising cost of petrol and other fuels is stifling our economic recovery. I have lived on an A road for 15 years and the traffic flow is now so low it is like living in a country lane. In a rural area fuel is a real issue as there is no alternative. Many people work for minimum wage rates and find it almost uneconomic to work unless they are guaranteed enough hours.Government is too cowardly to deal with the real issue of long term fuel supply and simply tries to divert us with talk of pasties and fuel strikes.Lack of long term planning for fuel has exacerbated this problem.
11:47 AM on 24/04/2012
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The first fuel I ever purchased was 12 1/2p(half a crown) a gallon and that was dear because it was two stroke.
12:52 PM on 24/04/2012
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I remember when petrol was 29p a gall. ok, i know prices have to change, but the amount of tax this government is putting on the fuel is outrages. We get taxed on everything, its beyond a joke. Notice that the fuel prices shown are only eu countries. I've not long come back from Mexico....their price per. litre is 6 pesos... there is approx. 20 pesos to the pound, so whats that,,, 40p per. litre. you can imagine the shock i had to see fuel prices here !.I think we should all stick together, and once a week boycott the pumps, so the gov. looses millions a week in tax revenue....... do something at least to show them we've had enough.
4:50 PM on 24/04/2012
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Just when will the politicians realise that every time there is an increase in fuel prices it increases inflation which in turn makes everything else more expensive so the government needs more money so it puts the tax up etc. etc....The Americans have realised the necessity to have low fuel costs to benefit industry which is why the Americans only pay 20% of the cost for petrol compared with the UK.VAT is also charged on the tax - since when has Tax added Value?
11:00 AM on 25/04/2012
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Whats happend to the fuel tax price escalator , as promised by the not so honarable GEORGE & CALL ME DAVE . They said when the price go's up the tax will comedown. Don't hold your breath .
2:30 PM on 25/04/2012
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why in uk is deisel dearer than petrol when abroad it is cheaperwhy on the continent supermarkets are 10p cheaper than normal garages whereas here the difference is 1or2p could our s/mkts be just a bit gready.
4:17 PM on 27/04/2012
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i thought this was going to examine the mark up, ie the relation between a barrel of crude and the price at the pump. it seems we only hear the price of a barrel when it's going up, never when it's going down.
6:23 PM on 13/05/2012
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It is not all about the money the oil magnates make it is more about It is about the greedy governments in this country who think the motorist of this country is an easy touch but this coming to an end and DAVID CAMERON better sit up and take heed because of the governments inability this country is slowly becoming a third world country. GOVERNMENT WAKE THE effing UP
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