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Gasoline prices and taxation

Geoff Riley

11th July 2008

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The OPEC website carries a very clear chart which helps to explain variations in the price of gasoline in different countries. In the UK for example over 60 per cent of the cost of a litre of fuel is due to indirect taxation applied by thr British Government. In a sense, high taxes have helped to insulate motorists from some of the dramatic increases in world oil prices - but the contrast with the USA is remarkable. Here is the chart and also the related publication: Who gets what from imported oil?

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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