Soaring petrol prices stalk the British people
Sun Feb 26, 2012 7:30PM GMT
Iran’s opportune decision to cut oil supplies to Britain and France was a slam in the face of “the two biggest imperialist bullies on the schoolyard.”
The price of petrol in Britain is to rise to an all-time high of 150p a litre while the continuous rise in the price of oil exacerbates the soaring hikes in pump prices across the UK.
The British Chancellor George Osborne is to approve a crippling fuel duty hike over the next five months driving the price of petrol to over 150p a litre, reported the Sun on Sunday 26 February.
The news comes as the price of Brent crude oil is nearing $126 following Iran’s decision to cut oil supplies to British and French companies.
After Iran imposed an oil embargo on Britain, the British Foreign Secretary, William Hague, denied that Iran’s decision would leave any “impact on Britain’s energy security.”
The British Foreign Secretary’s denial was against a general “rule of thumb,” as described by a spokesman for AA, which provides British motorists with advice.
“The rule of thumb used to be that a $2 rise in the price of a barrel of oil added 1p a liter to pump prices,” said the spokesman.
However, this is just one side of the coin. Last year, the UK’s imports of crude went beyond its domestic crude production for the first time in 33 years.
With Britain’s crude oil imports of over one million barrels a day and predictions made by the world’s largest oil trader, Vitol, that the price of oil could rise to over $150 per barrel, Hague’s denial could not hold for long.
Iran’s opportune decision to cut oil supplies to Britain and France was a slam in the face of “the two biggest imperialist bullies on the schoolyard,” as described by American journalist and historian Webster Griffin Tarpley.
Now the question that goes unanswered is which one is a threat to the global peace; the west’s warmongering policies, military threats, and support for a Zionist regime which possesses over 200 nuclear warheads and is not a signatory to the Non-Proliferation Treaty, or Iran’s diplomatic response to antagonistic measures aimed at crippling its peaceful nuclear program?
credits and sources, courtesy, Presstv.com
Comments
Absolutely especially if you take into account that in the late 80s a barrel was selling for 12 dollars yes 12 dollars on the open market...this site gives a great breakdown .....
http://www.wtrg.com/prices.htm
i average about 50 dollars a week, though may have to increase it shortly. it is about nine dollars a gallon now, and getting more expensive. I have forsworn not to cut down my mileage not to let my standard of living suffer because of a few evil and very greedy people. The power elite I refer to.. I do suspect there is an item of deliberate social control here.
Sorry was off a little make that 60 per week which equates out to $3120 was off a little.....
24-32K Per Year at the very least for me. At an average pump price of 3.80 a gallon. Equates to roughly 50 US dollars per week or roughly $2,800 a year, easily. Mind you I live 5 minutes from work thats just general getting around the city of chicago with one 800 mile round trip road trip a year.....adds up pretty quickly.
I always wondered why you people complain when your gas prices are so low compared to yours then it struck me you do twice the mileage am i right? I do about 16000 miles a year , my car is diesel, so out of interest what is the average mileage over their in the States?
Soaring gas prices in the U.S. are hurting those on fixed incomes or those with little income. And those who have to commute to work guess they will have to start skipping lunch in order to keep gas in the car.