The Treasury is extremely dependent on petrol-tax, but the factor determining the present increase is the recent rise in oil prices on the world market, caused because Saudi Arabia has decided the other day to cut production by half a million barrels a day, claiming that there is an over-suply of oil on the world market.
Methinks may-be there is an inconfessable reason to the suply reduction on the part of Saudi Arabia: to let all and sundry know that they can - ooohhh - cause a lot of discomfort if anybody tried haranguing them!
