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[Kevin Wood]

I'm not sure the Conservatives are any better but every so often we need a clean out and start again, and that only happens when someone loses an election.

A sort of political CTRL-ALT-DELETE.

We're overdue for one right now, but the same was true when the Conservatives had been in for years too.

Kevin

[albitz]

if oil is sold in u.s. dollars and the sterling/dollar exchang rate is the best it has been for a very long time,should petrol in the u.k. not be dropping in price rather than rising? maybe i am missing something!

[caolan_p]

the thing is its does not mater were get the oil comes from it will always be sold in us $,we get hit hard in the north of ireland as in the uk cause i think its around 46%to48% goes right to the GOV ,for what ?  

[Golfbuddy]

OK, the fuel duty facts are contained in this article.

http://www.petrolprices.com/fuel-tax.html

[Paul M]

if oil is sold in u.s. dollars and the sterling/dollar exchang rate is the best it has been for a very long time,should petrol in the u.k. not be dropping in price rather than rising? maybe i am missing something!

You're looking at it the wrong way around though. The demand (and supply) worldwide is what sets the price, and most of the world does not use US$. So what actually happens is that when the value of the dollar goes down, the price goes up (in dollar terms, not necessarily real terms).

If the pound is getting stronger in its own right, then the price of oil (and most imports) should fall. But that's not the case -- it's actually the dollar that is getting weaker, which pulls the dollar value of oil upwards, and in turn means it costs us roughly the same as the increased $/£ ratio roughly cancels out the increased $ price. The pound is actually trading pretty low against the euro right now, so sterling isn't particularly strong in the big picture -- it's just a lot stronger than the dollar.

Or something like that