I found a little nugget buried in an Observer story on oil prices:
Ray Holloway, of the Petrol Retailers’ Association, said that ’such a hike would be critical in the second quarter of this year, if we went to $100 a barrel in that period, you could see unleaded petrol at 110p a litre.’ Average prices this weekend were 95p a litre.
For those of you who don’t want to go scare up pound-to-dollar and liter-to-gallon conversion ratios, that translates to $6.57/gallon.
$3.00 doesn’t sound all that bad, in comparison.
1 response so far ↓
1 Anonymous // 2 May 2006 at 8:01 am
European Prices are all of a similar level to UK prices (although the UK is near the top of the heap). We just drive smaller cars to compensate. Typical engine size is below 2 litres.
Just goes to show that economics works and if its too ceap it will be wasted!