Latest Fuel tax Stories

The UK's Petrol Retail Association has called for the country's government to put a freeze on fuel duty to facilitate the reduction of fuel prices at petrol stations. The Petrol Retail Association's (PRA) plea comes at a time when crude oil prices have fallen to their lowest in a year with the cost of petrol 9% lower than three months back, according to the Automobile Association. Prices of a liter of petrol are still around GBP0.11 higher when compared to the same period in 2007, an...

By Kate O'Hara The average price of unleaded petrol is now 109.1p a litre and diesel 120.4p meaning a typical 50-litre refill is now 5.33 cheaper than when unleaded reached a record high of 119.7p in July.But prices are still more than 11p higher than the 97.65p a litre this time last year.Supermarket giant Tesco lowered unleaded and diesel by 3p across its 430 forecourts yesterday. The move follows a penny cut by rival Asda at the start of the week and price drops made by a host of...

PETROL retailers today called for a freeze on fuel duty to help cut forecourt prices even further. The cost of petrol is 9% less than three months ago as oil prices plummeted to their lowest level for a year, said the AA. This offers consumers a modicum of comfort during the turbulent financial situation, with a 50-litre refill now pounds 5.33 cheaper than when unleaded reached a record high of 119.7p on July 17. But prices are still over 11p a litre more than this time last year, an...

By Alun Thorne Head Oil fell more than EUR7 yesterday, dropping below EUR80 a barrel for the first time in a year, pressured by expectations fuel demand growth will shrivel if the credit crisis pushes the world economy into recession. Economic weakness spurred the International Energy Agency (IEA) to cut its forecasts for world oil demand growth for 2008 to its lowest rate since 1993. Prices have dropped nearly 45 per cent from a peak of EUR147.27 in July. London Brent crude was down...

By Mike Jones PETROL costs 9% less than three months ago as oil prices fell to their lowest level for a year, the AA said yesterday. The average price of unleaded petrol across the UK was 109.1p a litre yesterday, with diesel costing 120.4p. Crude oil yesterday dropped to less than EUR78.61 a barrel. A typical 50-litre petrol refill is now pounds 5.33 cheaper than when unleaded reached a record high of 119.7p on July 17. But prices are still more than 11p higher than the 97.65p a...

The average price per gallon of regular gas fell to $3.29 Friday, according to auto club AAA's Fuel Gauge Report. That's down more than 60 cents from June's peak of nearly $4 per gallon. By Kathy Adams The Virginian-Pilot The bad news: the economy, home prices, stocks and employment rates are falling. The good news: gas prices are, too. In Hampton Roads, the average price per gallon of regular gas fell to $3.29 Friday, according to auto club AAA's Fuel Gauge Report. That's down more than...

Credit crisis in brief FUEL Tesco has cut petrol prices by 3p a litre. The oil giant Total and Morrisons followed suit. The average price of unleaded petrol is now 109.2p/l and diesel 120.6p/l. Petrol now costs 9 per cent less than the high of 119.9p on 17 July, with diesel prices 10 per cent cheaper. More cuts may be on the way. As the price of oil sank to a 12-month low, the Petrol Retailers Association said changes took between six and eight weeks to filter down to forecourts. (c) 2008...

By Hamidah Atan; Farrah Naz Karim PUTRAJAYA: Pump prices for petrol and diesel have been reduced by 10 sen. Effective today, premium unleaded petrol (RON97) is priced at RM2.45 per litre while regular unleaded petrol (RON92) is RM2.30 per litre. This is the second time the government has reduced the retail prices of fuel since it cut subsidies in June, resulting in a petrol price increase from RM1.92 to RM2.70 per litre. The last review was on Aug 23, when the retail price of RON97 was...

By GORMAN, Paul The first steps have been taken towards introducing a fuel tax or road tolls to fill a $145 million funding gap for major Canterbury transport schemes. Canterbury's revamped Regional Transport Committee met for the first time yesterday and wasted no time in making its first significant recommendation - to investigate options to raise the $145m. Environment Canterbury (ECan) staff and transport experts will consider how best to close the gap and report to December's...

INFLATION should peak soon at around five per cent, Bank of England Governor Mervyn King said. He made the forecast in his latest letter to Chancellor Alistair Darling to explain why inflation has risen to more than double official targets. The Consumer Prices Index for August hit 4.7 per cent. As the peak in inflation is higher than expected, Mr King said the Bank "has become firmer in its belief" that a period of muted growth is necessary to return inflation to target. *Falls in the...