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Econoblog

Discussion and analysis of the latest economic issues.

By Sean O'Grady, Economics Editor of The Independent.

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Don't blame the government for dearer petrol

Posted by Sean O'Grady
  • Tuesday, 16 March 2010 at 01:43 pm
Here we go again. Dearer petrol is something that cannot be blamed on the government or the oil companies. Instead blame the Chinese. They are the ones bidding up the price of raw materials again, and it is because they are going back to growth that the world price of foil has doubled in a year or so. Hence the rise in petrol I agree the taxes and duties don’t help, and actually make up the bulk of the price of fuel, but it is not why prices are rising so much right now. Besides, the best way to get us to drive less and use smaller cars is to tax petrol more. I have some sympathy with the hauliers, though, and I doubt any of us would like to see more of their protests in time for polling day...

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Dearer Petrol
aardvark11 wrote:
Tuesday, 16 March 2010 at 09:56 pm (UTC)
To discuss the rising price of petrol without a mention of the falling value of the pound is quite ridiculous. Even more ridiculous is to advocate higher taxes to get us to drive less, without considering other consequences.
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