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UK motorists up in arms about petrol prices

UK motorists are threatening to take action against the ever spiralling cost of petrol in the UK which is now over £1.20 litre. Many areas of the UK are paying upwards of 25p extra per litre than they were just 12 months ago and the situation could get worse before it gets better. The average 50L tank now costs more than £12 extra to fill up than just 12 months ago at a time when many families in the UK are still struggling to survive and UK businesses are looking to tighten their belts even further.

The UK government has attracted significant criticism for this particular issue when you bear in mind that the vast majority of the price of a litre of petrol is tax. As the price of oil moves higher, the price of petrol moves higher as does the tax intake for the UK government. The Conservative party has suggested some kind of price adjuster which would reduce the tax intake when the price of oil moves higher and increase the tax portion when the price of oil moves lower. Whether this is the solution to what is a long-term problem is unclear.

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