Petrol Predicaments: Breaking Down the Cost of Fuel

PETROL The rising cost of fuel is affecting millions of people worldwide. We need fuel to run our cars, aeroplanes, and industries. So where does all that fuel come from and how PREDICAMENTS does it get to your local pump? FROM THE SOURCE TO YOUR PUMP It's convenient for motorists to pull up to the pump to fill up their vehicles. But by the time it reaches the petrol station, that fuel has already tacked on plenty of mileage. Geologists find crude oil sources in the earth to be Extracted oil is transported to a refinery to be extracted further into petrol and diesel. The petrol and diesel are mixed with additives. Oil is extracted from the earth through drilling and pumping. used for fuel. 3333 PETROL Motorists visit petrol stations Fuel is transported in tankers The refined fuel is transported from distribution centres to to fill up. to large distribution centres. petrol stations. TOP SOURCES IN THE WORLD Certain oil rich countries take the lion's share of the world's crude oil supply. The top 10 oil producers include countries around the world. BARRELS PRODUCED PER DAY BY COUNTRY 12,000,000 10,520,000 11.000,000 10,270,000 9,688,000 10,000,000 9,000,000 8.000.000 7,000,000 4,252,000 4,073,000 6,000,000 3,483,000 5,000,000 2,983,000 2,813,000 4,000,000 2,642,000 3,000,000 2,458,000 2,000,000 1,000,000 ********** ...... ***** United Arab Emirates *********. Saudi Arabia Russia United States Iran China Canada Mexico Iraq Nigeria A DAY IN EUROPE'S PETROL PRICES Fed up with the price you're paying at the pump? Some other countries may have it worse off. In some places in Europe drivers are paying close to £1 per litre, but in others the price soars to more than £1.50. PUMP PRICE PER LITRE As at 26 March, 2012 £1.49 £1.46 £1.46 £1.42 £1.42 £1.41 £1.39 Italy Greece Netherlands Sweden Denmark Portugal Finland Germany Great Britain £1.38 £1.38 £1.31 £1.31 £1.26 £1.26 £1.25 £1.25 £1.23 France Belgium Slovakia Ireland Hungary Czech Republic Slovenia Austria Spain £1.22 £1.21 £1.21 £1.19 £1.19 £1.17 £1.14 £1.09 £1.07 Luxembourg Malta Latvia Lithuania Estonia Poland Сургus ***** Bulgaria Romania THE RISING COST OF PETROL IN THE UK In the last 20 years the price motorists pay for fuel has nearly doubled. Though the figures include both dips and spikes, the last few years have seen steady price rises for motorists. PRICE PER LITRE (In pence 2011 prices) 150p 140p 1245p 1144p 130p 110.5p 120p 101.2p 1004p 102.7p 110p 93p 939p 935p 964p 885p 885p 86p 90.2p 91.9p 100p 764p 804p 818p 832p 90p 724p 716p 80p 70p 60p 50p 40p 30p 20p 10p 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 WHAT MOTORISTS PAY FOR As at the end of March 2012, on average, 58 per cent of the price of a litre of fuel is made up of tax – VAT and fuel duty. Here's how it adds up. £1.39 £0.58) Cost of a litre of fuel before tax Pump Price Per Litre PETROL £0.81) VAT and fuel duty As at 26 March, 2012 SOURCES: EU OIL BULLETIN I ENERGY INSTITUTE I DEPARTMENT OF ENERGY I PETROLPRICES.COM I CIA.GOV Confused.com