UK Gas Price Rockets to $8.16 per Gallon!!! | Economy

UK Gas Price Rockets to $8.16 per Gallon!!! | Economy

There are many external forces, which affect the price of petrol, that have nothing, whatever, to do with the industry. For instance............
Money markets buying and selling currencies can cause a country to have to pay more for fuel as their currency is dropping in value. All petroleum business is carried out in American Dollars and a country may have to pay more to buy dollars, to pay for fuel.
Another game is to buy oil and just keep it stored in a tanker. when it is eventually sold the Captain receives a telex telling him where to go. Changes often occur during trips as others buy up contracts due to desperation concerning supplies running out. There are normally two or three tankers sitting in Scapa Flow, deep harbour,near the Islands of Orkney, to the North of Scotland. The crews are entertained in Solum Voe terminal city which services the oil industry, which has onshore lines to store oil piped from rigs in the North Sea. It has an airport, too.
The current problem is that the Dollar is buying less these days, due to the hidden inflation rates of America.They have tried to hide the skyrocketing rate, by printing more and more money. Eventually, each dollar printed is worth less than each one of the hundred before and as the noose tightens America could end up as the Wehrmacht Government did after WW1 where there money was being devalued two or three times every day until Hitler just nationalised the banks and issued a new currency backed by a central bank which was, in effect, the Government. Then Hitler got mega loans from America and the rest is,as they say,history.
Venezuela went through a decade in the 1970's where the money was being bought and sold on a daily basis. Bank clecks were getting loans and buying in the morning, to sell the next day, at a gain. Their bet being that the money would buy less.