Particularly the current price of fuel smells strongly of decomposing fish and rotten cabbage. See Guardian Here and Live Oil Prices Here
Today the AA announced that petrol would reach 1.20 per litre. That is even higher than it reached at the peak of the oil price rises of July 2008.
But then, in 2008, oil was $146 a barrel. Today it is a little over half that at $82 a barrel.
Even with Gordon “The Abyss” Browns devaluation of the Pound the figures scream robbery.
Lets do some arithmetic.
If we use the £1.20/litre on July 2008 as the bench mark ($146 per barrel with exchange rate of $2 /£1)
Excluding the devaluation, the price of a litre today is about the same. (£1.20)
Factor in the devaluation (now about $1.50 / £1) we get the price equivalent what £1.20 should be if Gordon Brown hadn't wrecked the economy. That is 90p litre.
Working out the price difference, compensating for Gordo's cock ups. (i.e. being "nice" to the Dear Leader)
146 = price barrel oil 2008
1.2 = price litre petrol in 2008
82 = price barrel oil now
0.9 = price litre petrol now adjusted from 1.20 to accomodate Browns devaluation
146/1.2 = x * 82/0.9 where x is the rate of increase
x = (146 * 0.9) / (82 * 1.2) = 1.335.
So even after accommodating the devaluation, compared to the price of a barrel of oil, petrol is now over 33% more expensive than at its peak in July 2008.
If you are less sympathetic to Browns incompetence and ignore the devaluation, the price increase compared to crude oil price shoots up to a staggering rise of 78%.
Some fresh bullshit I heard on the TV explained this was due to a refining capacity problem.
What a load of bollocks.
There was and has been no shortage of refining capacity now or any appreciable change since 2008. Who do they think they are kidding?
The truth of the matter is that we are being screwed.
Top of the list of those robbing us is our Dear Leader For Eternity Gordon Brown. Just to make it as bad a possible he now plans another 3p hike. No doubt so he can squander some more of our money before we get a chance to throw him out.
This cosy cartel among the Oil barons is cynically exploiting the incompetence of Browns hopeless government. We are the ones getting fleeced while those who are supposed to be in charge stand around with their hands in the pockets. Happily counting the extra tax revenue that just happens their way.
Don't expect any fair play on fuel any time soon.