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?

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

I suspect I am being ripped off.
Well it the case in Sweden. The gasoline prices have barely increased since the dollar was on 10.60 compared to now when the dollar is 6.24. And that's while the oil price has almost doubled.