BBCNEWS BBC News October 25, 2021 20:18:00
Consequences. petrol prices in the uk have reached a record level, beating the previous high in 2012. simon williams from the rac said it's mainly due to rising oil prices. the exchange rate is weaker than it was in 2012, and actually oil is far lower than 2012. the exchange rate makes a difference. then we have got the switch to e ten petrol. 5% more for petrol now is ethanol, and ethanol is really expensive on the wholesale market. over 1000 euros a tonne. that is adding 9p a litre to the price we are paying at the pump. and then you have the duty at 58p, and the retail margin. retailers are...