On Mon, 14 Apr 2008 07:56:48 +0100, MM wrote:

Yep, and one of the neighbours said to me recently they'd just filled
their tank at 50p a litre and the driver said the industry reckoned it
would be a pound a litre by 2009.

If so that has very serious implications on the price of road fuels, think
160+p/l for diesel and 150p+/l for petrol. The base oil cost of all fuels
is pretty much the same, it's the the duty and VAT that give the price
differences.

Such massive increases in such a short time don't let the economy adjust..
Things just stop happening as people and companies can't afford to do them
any longer and make a profit.

150p/l is £6.80/gallon (ish). Some one on or near the minimum wage and
working 15 to 20 miles from home has to work for over an hour just to pay
for the fuel to get there. Another hour to pay the insurance, maintenace
etc. Probably another couple for deductions like Income Tax, NI & Pension.