iPod Prices Prices Over Seas

I know that electronic products are generally cheaper in the US than in other places (maybe some Asia-pac places like Singapore or Japan are cheaper). But it really sucks that folks in the UK are getting ripped on Apple products like the iPod mini. I did a quick conversion on Oanda.com:

199 US Dollar = 105.537 British Pound

The Apple UK site has the iPod Mini @ 139 pounds which at current rates is $262! Wow. That includes the VAT (17.5%), but that's still $30 more than it should be. I guess the prices were set earlier when the dollar was stronger.