Washington, March 11: The fuel price debate in the UK shows no signs of abating and an article by Ray Massey in the Daily Mail on February 18, 2011, highlighted the issue. The Great Filling Station Rip-Off: Price of Petrol Still Rising Here Despite Falls Across Europe investigates the fuel prices British motorists are being asked to pay by comparing pump prices with other countries in Europe.
A more comprehensive study of global fuel prices in 172 countries and territories, compiled on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), showed that Britain had the third highest diesel price in the world (behind Turkey and Norway) at the time of the survey, mid-November, 2010, and the ninth most expensive for petrol. Prices in the UK have moved on since then, with Britain arguably the most expensive place in the world to buy diesel, although prices will have to increase significantly to overtake the asking price of a litre of petrol in Eritrea, $2.54
Global Petrol Prices in 2008
Comparison of a similar survey conducted in November, 2008 allows for some pricing analysis. In 2008, the most expensive litre of petrol was once again in Eritrea, at $2.53, followed by Hong Kong ($1.95), and Turkey ($1.87). Britain was 28th on the list at $1.44, behind the likes of France, Italy, Slovakia, Germany, Belgium, Ireland, and Mauritania
By contrast, the cheapest petrol on the planet was in heavily subsidised Venezuela at just two cents a litre, followed by Iran ($0.10), Libya ($0.14), Saudi Arabia ($0.16), and Bahrain ($0.21). By comparison, the major global economies of America and China were $0.56 and $0.99 respectively
Global Diesel Prices in 2008
Diesel prices in 2008 were most expensive in Israel at $1.70 a litre, according to the survey. Britain lay in fourth ($1.65) behind Slovakia and Malawi, and just ahead of Ireland ($1.64). Motorists from these countries could look on with envy at car owners in Venezuela (1 cent), Iran (3 cents), Saudi Arabia (9 cents), Bahrain (17 cents), and Yemen (17 cents).
Global Fuel Price Increases and Decreases – Nov, 2008 – Nov, 2010
Within two years, the UK had climbed several places in the expensive fuel league tables. More expensive diesel prices could only be found in Turkey and Norway, according to the survey, while the UK price of a litre ($1.98) was a staggering 180 times more than the subsidised price charged to motorists in Caracas
Eritrean drivers were still paying the highest prices ($2.54), followed by Turkey, the Netherlands, Norway, and Greece. Britain was ninth in the list. While there have been loud complaints from American consumers, the price of petrol in the USA was still considerably lower than in Europe, at $0.76, with China only showing a slight increase, to $1.01
The biggest petrol price rises were in Burma (86%), Australia (71%), Jordan (70%), Greece (66%), and Thailand (62%). While prices seem to be rising globally, the surveys found that petrol prices went down, in dollar terms, in several countries, including Mozambique (35%), Uzbekistan, Nigeria, Mauritania, Grenada, and Mongolia
Petrol Price v Diesel Price Differential
The survey found that Britain was in the minority in charging a higher diesel price than petrol. In the most extreme example, Iran’s petrol price was six times more than diesel, while there was also respite for Eritrean consumers, with diesel prices somewhat more affordable at $1.07.
German International Cooperation (GIZ) Fuel Price Survey 2010/2011
The surveys were commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) to provide decision-makers with accurate and current data on global fuel prices. The surveys were undertaken by German International Cooperation (GIZ), with assistance from German embassies and other partners, and comprised of a survey of more than 170 countries and territories in mid-November 2008 and 2010. Both the full 2009 Fuel Price Report and the Preliminary 2011 Fuel Report are available on the GIZ website, with the full 2011 report due in Spring, 2011.
–Agencies