Oh dear, here we go again. I was 20 minutes late for work this morning because – after the fuel light came on half-way up the M6 – I decided to get some Petrol. It would appear that the same old panic-buying is returning. A queue of cars fed into the local Morissons car-park where people waited to pay 1 a litre for their fuel. After dishing our another 62 for a weeks worth of fuel – just to get to WORK – I’m left baffled.
Sure, I realise that OPEC are dropping supplies, which is pushing up prices. But our own Tax on fuel is too high (65%), and doesn’t reduce when prices hit a certain level. Sure, I realise that people say Hurricane Katrina caused chaos in the oil fields but it takes three months to process oil from crude to petrol. So we’re actually paying for oil bought in July. Our Chancellor says the problem is part of a