Fuel prices in US fall quicker than in Europe-Why?

Discussion in 'Current Affairs, News and Analysis' started by muhandis89, Oct 27, 2008.

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  1. It does appear that fuel prices fall much quickly in US,than in UK and Europe:

    http://www.reuters.com/article/domesticNews/idUSTRE49P36W20081026

    It does appear that European Government taxes on the stuff means that said governments are not too interested in seeing steep price falls,as their tax takes would reduce further-and in UK,at least,the coffers are empty.
     
  2. That and as the spokesman for the petrol companies said.

    In Europe, esp Britain, we do have cheaper fuel. It´s just the tax on it makes it obscenely expensive.
     
  3. Does that mean as the price of oil falls,the rate of tax rises.
     
  4. $2.55 USD per gallon in Milwaukee. :wink: That's the lowest it has been here in many a moon. Still can't afford to drive though even with a crappy Jap car. :roll: I pity you lot in the UK with your higher gas taxes. Just because the price of a barrel of oil has taken a tumble doesn't mean that Nu Labour will give you a break. :evil:
     
  5. I would love to be paying £2.55 a gallon instead of £5ish. Greedy cyclopse barsteward and all politicians
     
  6. Because oil is priced in US$, and the £ is falling rapidly against US$, so we do not get the full benefit of the $ price fall. That plus the oil majors and the government are greedy barstewards.