| |
Share, Like & Tweet!
|
|
|
|
|
< back to news stories
Why do petrol prices remain high as oil prices fall $20 a barrel since April
23/11/2011
It was reported in April that the price of crude oil fell by $20 a barrel to $124. Yet in early May the UK experienced the highest recorded petrol and diesel prices at the pump.
Since May, the price of petrol has dropped by only 1.2%. It is true that the exchange rate of the pound versus the dollar is weaker but surely a 6% drop in value does not explain why the price of petrol at the pump has failed to drop at a greater rate.
A year ago, according to the AA fuel report, petrol averaged 15.07p a litre and diesel 117.54p. With prices now 20p higher than that, filling a typical 50-litre petrol tank now costs £10.27 more than a year ago and an average 8-litre diesel van tank is £17.66 more expensive.
Homeowners aged over 55 years who are worried about the costs of motoring and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
|
| |
|