Management & Operations

European Ministers Discuss Oil Price Impact on Transport

Posted on September 25, 2000

European transport ministers met to discuss responses to the continent’s worst energy crisis since the 1970s, but refrained from a EU-wide response to fuel tax relief. Truckers, taxi companies and tour bus companies have claimed that high oil prices are hurting their businesses. Protests have at times shot down surface transport networks in cities throughout Britain, Belgium, the Netherlands and France. Although Europeans have long been accustomed to paying as much as four times what Americans pay at the fuel pump, more and more have reached run out of patience with government inaction. Fuel taxes add as much as 80% retail gasoline prices in Europe, but now Europeans have also been affected by worldwide supply shortages as well as the declining euro, which has lost more than a quarter of its value against the U.S. dollar since its introduction in 1999. Crude oil is primarily priced in American dollars in world markets. However, neither transport ministers there, who want to internalize some of the congestion and environmental costs associated with road transport through fuel taxes, nor finance ministers, whose governments depend heavily on such revenues, can agree to reduce them. Though it is too early to measure, most observers expect public transport patronage to increase as it did in the U.S. when gasoline prices spiked due to similar supply shortages earlier this year.

View comments or post a comment on this story. (0 Comments)

More News

RATP Dev appoints senior VP of operations for western region bus div.

Robert Smith will oversee current operations in the western region, and will help expand new business into other states in bus, metro, and light rail operations.

Gov. Baker defends MBTA GM pick despite lawsuit

The chair of the state's Democratic party has called on Baker to "rescind the hiring of Ramirez."

INIT adds open payments system to Portland-Vancouver fare system

The plan offers riders greater social equity, and provides more cost-effective transport options for travel throughout the Portland-Vancouver Metropolitan Area.

NJ Transit spent $1M on Penn Station ad campaign

The campaign to promote a special website on service disruptions while making sure riders knew Amtrak is responsible for the project at the nation's busiest rail terminal cost about $300,000 more than NJ Transit says it typically spends in a full year on marketing.

Study finds widening gaps in intercity rail, bus forcing more to drive

Researchers at DePaul University's Chaddick Institute for Metropolitan Development have been following the ebb and flow of bus and rail travel in the U.S. for more than a decade.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close