BBC News reports that the price of petrol has been creeping up steadily since the beginning of 2009 despite the fact that the price of crude oil hase been falling. The average price of a litre of petrol is now 90.48p and diesel 100.74p, analysts Experian Catalist said. This compares to a recent low on 6 January of 85.89p for petrol and 98.06p for diesel. However, the price of crude oil is now 40% lower than the last time petrol cost 90p a litre, back in March 2007, according to the AA. Oil prices have tumbled by more than $110 since July last year. US light, sweet crude is currently trading at about $34 a barrel. LinkWhat factors, other than the price of crude oil, do you think influence the price of petrol? Do any of these justify the increase in the price of petrol?
1 comment:
I don't understand why price of petrol is going up during a recession. Taxes are obviously not being increased so why are prices increasing? Unless, crudle oil price itself has increased..
The pound weakening against other currencies could may explain the increase..
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