Petrol prices - conned!

[10ClarionSt]

Last month, at the G8 summit, there was a promise from the govt representatives, that they would cut third world debt. Eveyone wanted this to happen didn't they? However, that would mean losing money from the interest on foreign loans. So they make sure they won't lose out by pushing up the price of petrol, four weeks after the summit. And it's going to go higher. People can't complain can they? They wanted the debt relief, so the cost to the govt. can be recovered from elsewhere, i.e petrol. It's a bit odd that we now face massive rises in the price of petrol so soon after this decision. 

[jno]

governments aren't putting the oil price up, it's just normal supply and demand. The Chinese - huge buyers - are industrialising like crazy; meanwhile, there are worries over Saudi Arabia, where the king's died, Venezuela and Iraq, all suppliers. Plus of course it's not an infinite resource, which means in effect that the price will pretty much always head upwards because no more can be created to match demand.

[Hammer]

The extra cost doesn't go to the government. The only change the rate of tax at the budget. The price has gone up because of what jno says.

[Hammer]

I'm afraid you are wrong. The tax rate on petrol is a flat 48.32p per litre, not a percentage of the price. Check here for details.