Pumped Up: Petrol Prices Hit Record High (UK)

Sky News Online ^ | April 8, 2010 | Ed Merrison

[Cheap_Hessian]

Average petrol prices have risen to an all-time high of 120p a litre, eclipsing the previous peak of 119.7p seen in July 2008, new figures show.

Revealing the data, the RAC said it was a "dark day for motorists".

The record high is partly down to soaring wholesale costs, with the price of oil hitting an 18-month high earlier this week.

UK drivers have also been hit by the weaker pound pushing up wholesale petrol costs, as well as fuel duty hikes from the Government.

[mlocher]

The previous all-time high of 119.7p was reached when oil prices rose to $147 a barrel - but at a time when the pound was far stronger.

I was in Europe in July 2008, the last time the UK paid this much for "petrol". Gasoline in the US was just over $4 a gallon, today it runs about $2.75 a gallon.

This show just how far the pound has fallen in 2 years.

[oyez]

Building our self-reliance on energy would build the strength of the US Dollar. I doubt that The Administration has any interest in doing that.

[iowamark]

Works out to $6.94 per gallon, if my math is correct.

[mlocher]

You are correct on both accounts.

[oyez]

The Administration will not drain the swamp because it has a fetish for alligators.

[goodnesswins]

Yeah...well...the “alligators” are getting REALLY hungry.

[Cheap_Hessian]

Drudge has this story linked with the heading: OIL HITS RECORD $9 A GALLON IN UK....

[Skenderbej]

No wonder Top Gear is filming more and more shows in Africa...

Driving a Maserati across Africa is about as exciting as watching Michelle Obama dig cucumbers out of the White House garden. But, I guess at least they can afford 4 mpg cars there.