Not all the people that use the latin alphabet are English speakers, and the letter "W" is pronounced as "V" in many other languages that use the latin alphabet. Anyway, why are you so upset about it, it's not as if you don't know what "Petach Tiqwa" is referring to because of the use of the letter "W". In any case, why don't you go to every other country in the world and complain that the street signs aren't written in hebrew. Or if you live in Israel why don't you just learn hebrew rather than acting like an "expat", whinging about "them" and not being able to get a good cup of tea or whatever and moaning to the British ambassador.
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from the article: New Hebrew-only bus signs confound English speakers