Friday, August 12, 2005

Welsh Petrol Double Marbella Prices

The most high-profile reason for the recent rise has been an escalated terror risk in Saudi Arabia, one of the world's biggest oil exporters.

This has come shortly after the death of the Saudi King Fahd, a beloved patron of Marbella, drove prices up amid international nervousness about a potential hard-line new regime.

Enduring instability in the Middle East, including the American invasion of Iraq and concern over a resumption of Iran's nuclear impact, have all had a more long-term impact on the spiralling prices.

Political unrest in smaller oil producers, such as Nicaragua and Venezuela, are also having a greater impact than in previous years because the paucity of stocks mean disruption can be compensated for less easily.

There is also a growing demand for refined oil products, including both petrol and diesel, particularly as China's industrialisation develops at pace, and the American public continue to buy fuel-hungry SUVs (sports utility vehicles) in their thousands.
Although the prices of refined products, including petrol, and crude oil are not directly proportional, there is no doubt major rises like those seen in oil trading recently are having a major impact on what Welsh motorists are spending at the pumps.
British fuel prices are among the highest in Europe, with the basic cost driven up by a tax rate of 67% - higher than any country on the continent.

Unleaded petrol in Marbella, Spain, this week cost just over half the price of petrol at Wales' most expensive fuel stations, at 49p per litre, while a litre of unleaded petrol in Portugal yesterday cost 75.7p.


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