China Xiaokang Network July 13 Lao Ma Consumers around the world are not only begging for lower fuel costs, they are also calling for greater transparency in payment fees. In most cases, they blame the oil supply chain, producers, wholesalers, retailers and others for driving up prices.
Gas station meter
Canada's National Post commented that many countries have had to temporarily eliminate some taxes that increase fuel costs as everyone blames everyone else for raising prices. The problem is that taxes are only a portion of the price of a liter of fuel, and they are far from the largest component. "The price of natural gas can be broken down into four components: the price of crude oil, the cost of refining it into gasoline, the markup for gas station owners and, of course, taxes," CBC explains.
It all starts with crude oil prices, which, while fluctuating daily, are about 75% higher than in May 2021. Even if a jurisdiction offers a tax holiday to drivers, the base price could rise and wipe out some or all of it.
