Friday, December 10, 2010
Does this count as inflation?
"Petrol prices have hit a record high in Britain with unleaded costing an average of 121.76p a litre - with further increases in the pipeline, according to the AA". ..But the big question is - why are prices so high when the price of a barrel of crude oil is well below its peak of $145 in July 2008? It now stands at about $90. "The OFT has told Sky News it is not currently investigating fuel prices on either price or competition grounds".