Petrol prices hit a record high

The video discusses the sharp rise in petrol and diesel prices, affecting even thrifty motorists. It highlights the lack of sufficient public transport as an alternative and explains the economic factors contributing to the increase, such as the rising wholesale price of oil and currency devaluation. The video also covers the impact of taxes and fuel duty on prices and speculates on future trends, considering economic growth and political responses with an upcoming election.

What is one reason motorists are feeling the impact of rising fuel prices?

• Decrease in oil prices

• Increased availability of public transport

• Government subsidies on fuel

• Sharp rise in petrol and diesel costs

Which factor is NOT mentioned as a reason for the increase in fuel prices?

• Rising oil prices

• Currency devaluation

• Increased public transport options

• Tax increases

What event in 2008 is referenced as a significant change in oil prices?

• Oil prices dropped from $147 to $40 a barrel

• Oil prices increased from $40 to $147 a barrel

• Oil prices fluctuated between $60 and $70 a barrel

• Oil prices remained stable at $147 a barrel

How much of the petrol price goes to the government in tax?

• 45 pence

• 75 pence

• 120 pence

• 18 pence

What might motorists want to know from political parties with an election approaching?

• Their response to fuel price taxation

• Plans to increase fuel retailer profits

• Their stance on public transport improvements

• How they plan to reduce oil prices