Pump It Up

The petrol station at Postcombe yesterday hiked its pump prices up to 83.9p a litre of unleaded. For my American reader, that's $5.63 a US gallon (and you thought YOU had it bad!). Pundits are predicting it will hit 90p by the middle of next week.

I'm so happy to be driving a Rover 620, rather than my old Clio. It doesn't drink fuel like a fish at all.

Prices are being pushed up not just by the Iraq situation, but by the huge demand of US motorists who apparently all get into their 4.0 litre Monster Trucks and go drivin' on Route 66 from now until the end of August. 12% of the worlds petroleum output gets vapourised in US motor engines during the summer months.

As a result, we'll probably see fuel blockades again here in the UK.

We'll definitely see rises in energy and food prices, which together with the petrol itself will push up inflation rates. That 2% pay rise you just got therefore represents an effective pay-cut.

Let us reap the rewards of US foreign and domestic transport policies.