View Full Version : When would the price of petrol start to bite?

The Saint
2005-Aug-12, 08:22 PM
With oil at $67 and petrol in the UK & Europe at 90p a litre ($6 a gallon!). Despite that, there are more vehicles on the road than ever.

What sort of price would have to be reached before it starts biting into people's pockets and one actually start to see less vehicles on the road?

In 2002, a mass demo over petrol prices nearly shut the UK down.

What sort of price would it have to reach in the US? Or would Americans pay no matter what to keep their V8s on the road, even if it meant cutting down on the burgers?!

2005-Aug-12, 08:39 PM
We pay less than half of that. The issue of high prices in Europe is as much one of taxes than the actual cost of oil.

also,, the UK produces a lot of oil. At over 60/barrel the country is taking in a lot of cash. If that's not used to offset gas prices then it's more a political issue in the UK than an issue of world oil prices.

Here in my part of Canada, Alberta, the provincial governmnet earns about $12 billion this year in oil/natural gas revenues and about $9 billion in personal and corporate income tax generated off of energy profits. thats $21 billion or about 20,000/per family of three. One would think that Norway, parts of the UK (does Scotland get oil revenues?) would be the same. In Alaska in the USA the ratio is just over 8 to 1. For every 10 cents an Alaskan pays out of one pocket at the pump, higher world oil prices put 80 cents in the other pocket.

Write to your MP and ask for some of the money or a reduction in petrol taxes.