Monday, July 12, 2010

Petrol up another 14% in UAE

Petrol is up 28% in the past 3 months after 2 hikes.
Now let me get this right.
Petrol is about USD70 a barrel and it costs them about USD5-8 a barrel to get it out of the ground.

So why is it increasing so much?
Greed I guess, as they have to pay for the collapse of Dubai, which will take at least 5 years to correct and even then if a substitute for Petrol isn't found, which I am sure there will be.

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