We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

The Rise of Petrol Prices In the UK - Essay Example

Comments (0) Cite this document
Summary
In the UK, petrol plays a major role in the economy, business, and in the general society. New technology that entails substitute sources of fuels and new gadgets lead to increased petrol prices. This paper seeks to highlight the statistics of rising petrol prices in the UK…
Download full paperFile format: .doc, available for editing
Polish This Essay92.1% of users find it useful
The Rise of Petrol Prices In the UK
Read TextPreview

Extract of sample
"The Rise of Petrol Prices In the UK"

Download file to see previous pages More so, the rising petrol prices mostly affects the consumers and motorists hence the need for a review. We can however, deduce that the government has an ability to regulate the escalating petroleum prices. The Guardian records that Yorkshire, Humberside, and north England experience the lowest petrol prices at 137.6p a litre. However, in cities like London and Scotland, prices have hit an all-time high of 137.8p a litre (The Guardian, 2013, p.1). This is interesting as it demonstrates the variance in pricing of petrol across various cities. As such, we can deduce that price of petrol in UK varies from one city to another. Moreover, the motoring organization established that petrol prices in UK rose to an average of 138.32p a litre in February this year. This demonstrates a rise of 6.24p a litre since early January. Most specifically, petro prices rose by 1p in a span of five days. Actually, Experian Catalist puts the recent petrol price at an average of 132.83 pence a litre. As a result, the cost of fuelling a two-car family in a month with petrol rose to ?13.25 and the cost of refilling a typical 50-litre tank rose to ?3.12.Indeed, the AA president, Edmund King states that this is the third 10p-a-litre wholesale price increase in a span of11 months (The Guardian, 2013, p.1). As a result, the drivers in UK reduced petroleum consumption by 14m to1.465bn liters in January 2013. This is important in that it demonstrates that the effects of high petro prices streams down from the wholesaler to the motorists and the public. We can therefore deduce that increase in petrol prices has adverse effects on the motorists and results to reduced fuel consumption. The AA states that stock market speculators and the plunging pound are the major contributors to the...
This paper approves that the AA states that stock market speculators and the plunging pound are the major contributors to the rising petrol prices in UK. Notable is the fact that rising petrol prices lead to reduced economic growth and economic hardship for many UK citizens. Because of this the AA president requests the UK government to shelve the idea of increasing the fuel duty later in the year for purposes of stabilizing petrol prices and reducing the effects on motorists, mother consumers, and businesses in UK. This is interesting as it demonstrates the effects of tax and duty on the prices of petrol in UK. We can therefore deduce that the government can regulate fuel prices through taxes and duties. Moreover, the Office of Fair Trading confirms that it will soon launch an inquiry into the rising petrol prices and its effects on drivers, consumers, and businesses in UK. In the meantime, the price of petrol continues to rise as the blame game on who is causing this trend persists.
This report makes a conclusion that the analysis of the statistics relating to rising fuel prices is important in that it monitors fuel prices in UK for possible reviews and compares the price of fuel in UK to other EU countries. More so, this information is important to students, academicians, and the public as it evaluates the recent and historic petrol price changes thus preparing them for possible changes. In addition, government departments, business consultants, and organizations also use this data for planning. Moreover, the EU uses this information to derive EU price statistics. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Rise of Petrol Prices In the UK Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
The Rise of Petrol Prices In the UK Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/statistics/1472667-the-rise-of-petrol-prices-in-the-uk
(The Rise of Petrol Prices In the UK Essay Example | Topics and Well Written Essays - 1250 Words)
The Rise of Petrol Prices In the UK Essay Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/statistics/1472667-the-rise-of-petrol-prices-in-the-uk.
“The Rise of Petrol Prices In the UK Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/statistics/1472667-the-rise-of-petrol-prices-in-the-uk.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Transportation Cost Fluctuation Due to Changing Crude Oil Prices
The level to which fuel price fluctuations as affected by global demand for oil, which in turn affects transport costs can only be explained using supply and demand theories. This paper will discuss how fuel price fluctuation is affected by global demand for oil, which in turn affects the transportation cost.
12 Pages(3000 words)Essay
Petrol market
This creates a negative externality in the petrol market of the country (Hultkrantz and Lindberg, 2011, p. 3). In this context, use of alcohol creates the significant amount of negative externality to the users. Alcohol is regarded as an attractive goal of public tax collectors due to the fact that extreme alcohol consumption generates negative externalities (Gillespie, 2007, p.
6 Pages(1500 words)Essay
Rise in house prices in the UK: A case study approach
Factors causing price volatility in the housing market 14 3. Methodology 21 3.1. Case study: The Joseph Rowntree Housing Development 23 4. Findings & Analysis 27 5. Conclusion 28 Bibliography 29 1. Introduction: “The UK housing market is deeply divisive, socially and geographically.
20 Pages(5000 words)Dissertation
Oil/petrol price analysis
The price rose to US$50 in 2005 from under US$10 in late 1998 and early 1999. Oil prices hit a record high level of over US$145 a barrel in July 2008. With the onset of the worldwide financial crisis and deep recession, a reduced demand for crude oil drove down prices as it had done in the past, and the price of oil dropped to US$34 in February 2009, gradually increasing to US$80 in January 2010.
6 Pages(1500 words)Essay
House prices in the UK
That is why real estate owners construct houses of different quality and different sizes, with an aim to cater for every citizen of a country. With the constructors work done, it is up to the owners to decide on house prices, depending on the quality, location, and prestige among other factors.
4 Pages(1000 words)Essay
Report on the UK Petrol Market
Report on the UK Petrol Market. The UK petrol market is important and dynamic. Since the publication of the Monopolies and Mergers Commission in 1990, there has been increased competition. The emergence of large supermarkets dealing in petrol has led to the decline of the major non-supermarket dealers such as Esso and Shell.
4 Pages(1000 words)Coursework
UK House Prices
The study also brings to light the factors that are considered for the monetary policy, which has a direct relation with the property prices in the UK. So the purpose of the study covers a wide purview of Bank of England's monetary policy and tools used to regulate interest rates and contain inflation and regulate property prices and also the various factors that are responsible for a change in property prices.
8 Pages(2000 words)Essay
Interest Rates Rise in the UK
In this respect, it can be found that it is far cheaper to produce goods overseas and import into the UK, rather than manufacture from scratch in the UK. This has resulted in many large manufacturers, in particular those who provide retail goods in the clothing and leisure industries to wholesale manufacturing to Asia where productivity costs are much lower.
9 Pages(2250 words)Essay
The possible use of ethanol as a replacement for petrol
But such oils may become, in the course of time, as important as petroleum and the coal products of the present time” in 1897 (Boles, 2005). Promising future alternatives to crude
10 Pages(2500 words)Essay
Report on Recommendations for changes the financial portfolio in response to various scenarios in Cheep Petrol (CP- the company is not real) plc (UK)
Moreover, CP has commissioned TML to undertake all of its non-trading activities, known as “middle office” and “back office” operations. By fully capitalizing on TMLs proven abilities in business support and financial management expertise, CP is
14 Pages(3500 words)Essay
Let us find you another Essay on topic The Rise of Petrol Prices In the UK for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us