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UK prices cheapest in Europe

30 June, 2010
Page 4 

As a result of the UK's competitive road fuels retail market and efficient distribution facilities, the pretax

 

price of major brand petrol in the UK has been consistently among the lowest in Europe, acccording to the latest Statistical Review from UKPIA, which represents nine member oil companies. However, despite this competition, the price paid by consumers at the pump has been one of the highest in Europe, due to the higher levels of duty applied by the Government (VAT and duty combined represent around 67% of the average pump price in 2009). Following the 2008 price spike, average annual petrol prices dropped in 2009 quite significantly. Despite this reduction, the price in real terms still remains higher than in 2007.

 

The report said sales of petrol were 22 billion litres in 2009, while diesel sales were 24 billion litres representing 53% of road transport demand by volume.