London (CNN) -- Petrol prices might have breached the $4 per gallon mark in the US, but there won't be much sympathy for the American plight in Europe. In fact, that US price of £2.52 a gallon looks highly affordable compared to the UK's current average cost of £6.22 ($9.85).
In some places here you'll pay an eye-watering £7.27 ($11.52) for a gallon of super unleaded. And prices throughout the rest of Europe are similarly high. But it is worth sparing a thought for the hard-pressed Norwegians who'll pay £7.28 ($11.54) for a gallon of the regular stuff across their country.
If the price of oil was the only factor to dictate the expense of petrol it wouldn't be such a bitter pill. But it isn't. The government decides how much we're going to pay per gallon. Surprise, surprise, it also decides that the majority of it should be diverted to their coffers. So of our £6.22 average, £3.74 ($5.92), or a bit over 60%, ends up in the Treasury's back pocket.
The government isn't the only guilty party. Fuel producers take 36% which goes some way to explaining Shell's obscene £18.1bn ($28.6bn) profits from last year. (BINGO!)
ref:
http://www.cnn.com/2012/02/28/opinion/o ... ?hpt=hp_c1
