Venezuela's Political Situation Affecting the Price of Diesel in the UK

By
The price of fuel is affected by a number of factors in the UK, but also is impacted by political and economic events on a global scale. The death of Hugo Chavez, the former president of Venezuela is set to have a large impact on the price of crude oil in South America, which will raise the prices of gas, kerosene and diesel in South America, therefore affecting diesel and kerosene prices globally, affecting us in the UK.

This combined with the result of the budget on March 20th, will be having a direct effect on the price that we will be paying for diesel. The budget is capping fuel subsidy at Rs 65,000 crore for the coming year, whereas it was at 96,880 crore for 2012-13. Meaning that the plans to cut diesel prices are sadly slipping away.

As the global crude oil price is affected by political developments, the global economy is affecting not only the price of diesel, but that of kerosene and gas oil. The government has gambled on the global market while capping fuel subsidies at just 65% of the earlier bill. To keep oil prices low, the government is counting on the US to increase their production and a lower demand from contracting economies to ensure that oil prices stay a low as possible.

For more information on diesel prices and to sign up for daily fuel price updates visit FuelOilDiesel.co.uk.

Popular posts from this blog

AW Energy Launches Renewable-Powered EV Charging Hub, Cutting Costs by 50%

By
Image
AW Energy has officially launched its new ultra-rapid charging station at Checkley Wood, near Leighton Buzzard, offering a significant reduction in charging costs for electric vehicle (EV) owners. The station is powered by renewable energy generated through wind turbines, allowing the company to offer ultra-rapid charging at just 39p per kWh—nearly 50% less than the industry average of 80p per kWh, according to Zap Map’s September Price Index. The launch of this facility marks a major milestone in AW Energy’s efforts to bring sustainable, affordable, and reliable EV charging infrastructure to the UK. The Checkley Wood station is already open to the public, accommodating both electric light commercial vehicles (LCVs) and cars. Larger vehicles, including electric buses and commercial trucks, will be able to use the station by the end of the year. A New Era for EV Charging AW Energy’s Checkley Wood site is designed to serve both everyday EV drivers and fleet operators. The site feature...
Read more

Coca-Cola to Trial Hydrogen-Fuelled Long-Haul Truck with Toyota and Air Liquide

By
Image
In a significant step towards sustainability, Coca-Cola is set to trial a hydrogen-fuelled long-haul truck as part of its supply operations. This initiative, in collaboration with Toyota and Air Liquide, aims to explore the viability of hydrogen fuel technology in reducing carbon emissions in logistics. Toyota has partnered with Coca-Cola and Air Liquide to test a heavy-duty truck equipped with a state-of-the-art fuel cell system. This truck will be powered by green hydrogen, produced and supplied by Air Liquide, highlighting the integrated approach required to foster a sustainable society. In a statement, Toyota emphasised the importance of developing both vehicles and infrastructure concurrently to promote a greener future. Eric Desbonnets, Vice-President of Paris 2024 Operations at Coca-Cola, expressed the company’s commitment to learning from this initiative as part of its broader efforts to reduce its carbon footprint. “We want to learn from this experience as we continue to wo...
Read more

Uniper Unveils Ambitious Hydrogen Hub Project in the Humber, UK

By
Image
Uniper, a global energy company, has set its sights on revolutionising the energy landscape with its latest venture: the Humber H2ub® project. This ambitious initiative, slated to be operational by 2029, aims to establish a hydrogen hub at the Killingholme site in the Humber region of the United Kingdom. With a commitment to sustainability and innovation, Uniper's project holds the promise of significant advancements in green hydrogen production and decarbonisation efforts. At the heart of the Humber H2ub® project lies a plan to integrate 120MW of green hydrogen production capacity, with potential for further expansion. This forward-looking approach aligns with Uniper's broader vision to scale up its electrolyser capacity to over 1GW across its operations by 2030. By harnessing the power of green hydrogen, Uniper seeks to drive down emissions and pave the way for a cleaner, more sustainable future. A key aspect of Uniper's strategy involves collaboration with industry par...
Read more