The reason you pay such high fuel prices in the U.K. is because your government is gouging the bloody hell out of its citizens with taxes
. The U.S. has historically had significantly lower taxes on fuel than the rest of the free world. That being said, crude oil and wholesale gasoline prices in the U.S. are inching their way back up despite record high inventory levels and reduced demand due to the prolonged recession. Those of you who are paying less than $3.00 USD per gallon here in the U.S. should consider yourselves fortunate.
The pundits in the financial press attribute much of the recent run-up in prices to the falling value of the U.S. dollar against foreign currencies such as the Euro. While this may account for some of the upward price pressure, much of the gains are due to hedging of currency risk by large firms such as Morgan Stanley -the same bastards that were responsible for bidding the price of crude to record highs in the summer of 2008 while that squint Bush was telling the world it was the Chinese and their demand that was responsible for the high prices.