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Oil: Are we being ripped off?


Can someone who understands economics help me understand this one?

The nations of OPEC are blaming the weakness of the dollar for record highs and not an imbalance of supply and demand.

If they are correct then why are we seeing huge increases at the petrol pumps in the UK? The pound is increasing in strength against the weak dollar. So, surely this should offset the increase in the oil price?

What have I missed?

The price of oil will always increase, but the government and oil companys are the ones who rip us off. Most of the price you see at the pumps is tax.

I dont understand why alternative fuels aren't more popular and available such as LPG. You can even run a diesel car on vegetable oil! Surely that must be more environmentally friendly and its about 48p a litre. I have looked it up though and apparently you still have to pay tax on that so that proves the government are ripping us off.

They are saying petrol could rise up to 拢1.60 a litre by September!!!

This madness has to stop somewhere otherwise the UK or most of the world even will come come to a hault

Some blame it on the US dollar.I blame it on people who sit back and wait for other people to do things for them.We here in the US could grow our own biodiesel but the political will is not there.I think The US should grow their own biodiesel from Algae to get away from depending on the middle east.

While don't we all think about that while enjoying a shopping spree in Manhattan, then Rodeo Drive and why not stop over in Vegas baby that way we can contribute to the US economy and take advantage of the weak dollar.

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