Quote Originally Posted by English assassin
One thing I haven't understood is why this has fed through to higher pump prices in the UK.(1) we buy oil in puny ( ) dollars, but I pay for my petrol in nice strong pounds, so why hasn't the pound's appreciation against the dollar counteracted the higher dollar price for crude?
Because the price of oil and gas has matched the dollars drop. So you arent paying any less because your currency is worth more then the dollar. Opec isnt making less money, there making more or the same. So the value of your currency dosent enter into the equation as long as the price for oil/gas rise with each drop of the dollar.


(2) most of the pump price is tax anyway.

I suspect I am being ripped off.
Perhaps, but you can take the trains. In the states we really only have rail service in major metro areas. The rail system in the UK and EU is far superior.