Petrol would be 15p cheaper per litre if sterling had remained constant
A research note out today has cast light on the visible impact that the fall in sterling is having on everyday life and living costs. It has been reported that petrol would be 15p cheaper than today if the UK currency had remained at higher levels. However the ever increasing cost of importing petrol into the UK is the reason why the suggested price cut has not been passed on to customers.
To many people in the UK the exchange rate is something which they had never really considered unless they are going overseas on their holidays. However, with the rate now well under $1.50 to the pound we will soon start to experience severe cost increases in imported goods. Unfortunately, this has the potential to blow open the success which the government has had in controlling inflation over the last few weeks.
The UK currency is in a serious mess with economic concerns, falling interest rates and a national debt which continues to go higher and higher. Quite where the sell-off will end nobody really knows but there are serious concerns, as George Osborne suggested that the weekend, of a long-term run on sterling.
Share this..
Related stories
Selling a car? Ditch the fags
With the new smoking ban prohibiting drivers smoking in commercial vehicles, there have been calls for a ban on smoking for all drivers. This could not just reduce traffic accidents, but also add to the value of your car, Easier Motoring reports. British Car Auctions (BCA) says that presentation is the top factor influencing the price a seller can get for a used car after specifications. Tim Naylo...
Read MoreTeens wealthier than ever
Today's teenagers are wealthier than ever before, with an average spending power of £1,000 a year, just from pocket money, presents and part-time jobs, according to an MTV poll.All this wealth has prompted fears that many do not know the value of money, with three-quarters knowing the price of an iPod classic, but the same figure having no idea how much a pint of milk would cost.However, as many...
Read MoreSantander bids for 318 Royal Bank of Scotland branches
Spanish financial giant Santander is believed to be the only firm bidder for 318 Royal Bank of Scotland branches up for sale. Parties close to the auction have indicated that a bid of between £1.5 billion and £2 billion has been placed by the Spanish giant which is looking to expand its UK operations as soon as possible. So will Royal Bank of Scotland accept the offer? The truth is that Royal...
Read MoreUnemployment hits 16 year high
Just when Gordon Brown felt the tide was turning with regards to unemployment in the UK it has been revealed that unemployment increased by 43,000 in the three months to February, taking the total amount 2.5 million. This is a bitter blow for the government ahead of the election and opposition political parties are sure to make hay while the sun shines and attack Gordon Brown's handling of the UK...
Read MoreKraft Foods looking to create jobs at Cadbury
Despite headlines over the last few days suggesting that Kraft Foods would introduce a cull of jobs at Cadbury in the UK it seems that the company has very different plans. It has been revealed over the weekend that Kraft Foods is actually looking to create more jobs in the UK in the medium to longer term after assessing the situation and cutting out any synergy savings in the short term. Wheth...
Read More