Fuel price crisis - when will it end? - Introduction

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Fuel prices have soared in recent months, leading many motorists to cut back on using their cars.

A recent poll revealed that 36% of motorists are already using their cars less as a result of the rising costs of motoring and that 29% will begin doing so as costs continue to rise.

Other motorists have less choice, because they use their cars for their work.

Last week's protests by lorry drivers in London and Wales invoked memories of the fuel-price demonstrations of 2000. Back then, Britain's refineries were blockaded and fuel stations closed, bringing the country to a standstill.

The reasons for the rises are many, but it's clear that the high price of fuel in Britain compared with Europe is a result of two factors: high crude oil costs and high taxation.

Although the high price of crude oil is a global problem, and one that the Government would like us to focus on, it's also clear that the UK's high tax rates are as much to blame.

UK tax rates on diesel are the highest in Europe, and petrol rates are the third highest. As a result, the Government is under pressure to cut fuel taxes - although, at present, it shows no signs of doing so.

Fuel price crisis - when will it end? - Why are prices rising?

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