Why is fuel so expensive in the UK?
While the price of petrol is linked to the wholesale price of oil, it is competitively driven. That means the cost motorists are charged is not directly linked to crude. Instead, suppliers control the prices they sell petrol at. They tend not to reduce prices quickly - or raise them rapidly when oil goes up.
Where is the most expensive fuel in the UK?
Why is fuel so cheap?
A massive oversupply of oil globally – as roads are empty during the lockdowns – has caused the price of petrol to plummet to record lows. In some extreme cases – reported widely on the nightly news – some oil companies are even paying others to take their fuel supply because they have nowhere to store it.
Why is the fuel price so high?
1. Unleaded Fuel Markets. Unleaded fuel prices in regional NSW towns tend to about five to seven cents a litre more expensive on average than in Sydney. The prime reason for this is a lack of competition, particularly independent retailers.
What was the price of gas in 1950?