I can't see this happening any time soon - OPEC countries know best of all the state of the world's reserves, and their reluctance to increase production seems to me to indicate that they know that they have the market cornered and want to maximise their profits.

The Government, however, has practically no room for manoeuver in terms of reducing its take from fuel duty.

Justice Secretary Jack Straw says:

"government revenues have to come from somewhere"

and the Chairman of the Transport Committee, Louise Ellman MP, can only offer the bland and obvious comment:

"Everybody is feeling the impact of the increased cost of living.... That's something the government will have to think about."

While they think about what they might do, the rest of us have to suffer the consequences in terms of increased transportation costs and heating bills, coupled with the knock-on effects on food and production prices.

So what would you do in their position?

You can vote in the poll on the front page and tell us your thoughts here.
--
Simon