Why The High Fuel Prices?

As already mentioned in a previous post, did you know that the UK gets nearly all its oil from the USA and the North Sea, and only about 4% of the oil coming through the Strait comes to Europe, so what percentage actually comes to the UK?

So why are we paying higher fuel prices because of a war in an area that doesn’t affect our oil supply?

The price is determined by OPEC, a group of 13 countries, and some of those will supply oil through the Strait, and so a direct effect on them. It's unfortunate, but that is their problem and not ours!

Our Government seems to be able to do pretty much what they want when they want, so why can’t they get involved in the selling price of fuel, fuel that comes from other areas of the world and should not be passed on to the UK public? But here is my point. The Government gets nearly 50% of the pump price in tax and VAT, so we have to assume the higher the pump price, the more money the Government will get in taxes. Why would they get involved in reducing their own income? Just a thought.

Thanks for reading

DJ