The price of a litre of fuel is a hot topic of discussion these days and we don't have to tell you why. Every week it seems like a new record is set.
Some may find solace in looking over the fence, because there are motorists elsewhere who have it even harder than us. Like in England, where, Autoblog reports, prices have just reached new, alarming levels and the situation there is becoming quite worrying.
Figures from data company Experian Catalist show that the average price of a litre of gasoline in the U.K. hit a record 182.3 pence yesterday, the equivalent of $2.87 per litre in Canadian currency. A 50-litre fill-up now costs the equivalent of $143.50 CAD there.
In the case of premium gasoline, the per-price litre is the equivalent of $3.05 and $3.10 CAD.
These are mind-blowing numbers.
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The UK’s Auto Association said the price increases have been a "huge shock" for motorists and urged the government to intervene. That story is being played out in may other jurisdictions as well.
Russia's invasion of Ukraine has generated a lot of concern about oil and gas supplies and has exacerbated the spike in energy prices; all of these factors have resulted in higher costs, and they’re being passed on to consumers. High prices have hit motorists across Europe and North America, prompting several governments to adopt measures to try to manage the crisis.
Many motorists say that lower taxes have only marginally reduced the cost of a tank of gas. In any case, even if a few taxes are cut here and there, the price of gas continues to rise, so consumers are still left feeling only that they’re paying more and more.
And of course, there are all the price increases of other products that result from the soaring oil prices. In short, there’s no escaping the current inflation.
Where will it all end? Unfortunately, there’s no crystal ball to tell us, but the situation is certainly worrisome.
Through all of it, we can at least console ourselves that we’re not dealing with bombs falling on our gas stations and our homes.