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have a question about gas prices..smart people please answer
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have a question about gas prices..smart people please answer - May 24, 2007, 09:20 AM

I was driving to work yesterday and as usual WTOP is talking about gas prices again. A question popped into my head that I dont know if it has ever been presented in the news....

With all this talk about prices rising, is GAS rising equally in EUROPE and/or the world at the same rate? Now i hated MICRO and MACRO ECON in college, so i was hoping folks that are smarter than me could answer my question..

I just wanted to know if OPEC is just fucking the US without vasoline or if it is a worldwide thing.

I mention ECON b/c i am sure it is a supply/demand thing but there has got to be some comparisons that show the oil companies and OPEC are jacking each other off in the US..

Thanks for your attention.


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May 24, 2007, 09:28 AM

From what I heard its over $5 a gallon in the UK...


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May 24, 2007, 09:31 AM

Last I heard, the 'experts' are saying our problem here is a lack of refinery capacity. Too many refineries are off-line now for maintenance. The per-barrel price of crude has actually dropped a little.
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May 24, 2007, 09:35 AM

Quote:
Originally Posted by spud
everything spud wrote
It's rising to the consumer everywhere. Reasons most often cited: Instability of Iraq, fear of war in Iran, and the nutjob running Venezuela confiscating oil rigs.

The barrel price isn't going up.

They also discovered recently that someone is leeching a very significant amount of oil from Iraq's pipelines and have been for atleast four years. (Which pretty much means someone picked up where Saddam left off selling oil on the black market)
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May 24, 2007, 09:41 AM

Alex, I just finished reading this: http://articles.moneycentral.msn.com...GasPrices.aspx

It explains a little bit, but doesn't fully answer your question.


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May 24, 2007, 09:43 AM

have the increases been in line with the US' or is the US having higher?


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May 24, 2007, 09:44 AM

Quote:
Originally Posted by spud
I, is GAS rising equally in EUROPE and/or the world at the same rate? .
NO..its not.

not because the underlying barrel price is different, it is not. Gas is one of the most favorite commodities used by governments to collect addtional taxes. Gas in Europe has many many taxes tacked on. Some to support raod/driver intiatives, others totally unrealted. Some even to dissuade you from driving and get into public transport (would never work here for many reasons, one being the public transport system.)


Here is a (dated but you get the point 2005) comparison of global gas prices. Europe is consistantly at the top. I'm sure you could find 2007 numbers if you googled an additional minute or two.

Yeah..look who is number one..my friends have no sympathy for our gas prices here...



Nation City Price in USD Regular/Gallon
Netherlands Amsterdam $6.48
Norway Oslo $6.27
Italy Milan $5.96
Denmark Copenhagen $5.93
Belgium Brussels $5.91
Sweden Stockholm $5.80
United Kingdom London $5.79
Germany Frankfurt $5.57
France Paris $5.54
Portugal Lisbon $5.35
Hungary Budapest $4.94
Luxembourg $4.82
Croatia Zagreb $4.81
Ireland Dublin $4.78
Switzerland Geneva $4.74
Spain Madrid $4.55 J
apan Tokyo $4.24
Czech Republic Prague $4.19
Romania Bucharest $4.09
Andorra $4.08
Estonia Tallinn $3.62
Bulgaria Sofia $3.52
Brazil Brasilia $3.12
Cuba Havana $3.03
Taiwan Taipei $2.84
Lebanon Beirut $2.63
South Africa Johannesburg $2.62
Nicaragua Managua $2.61
Panama Panama City $2.19
Russia Moscow $2.10
Puerto Rico San Juan $1.74
Saudi Arabia Riyadh $0.91
Kuwait Kuwait City $0.78
Egypt Cairo $0.65
Nigeria Lagos $0.38
Venezuela Caracas $0.12


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May 24, 2007, 09:58 AM

Quote:
Originally Posted by BabyBusa04
From what I heard its over $5 a gallon in the UK...
Actually, I think it's $5 a liter...


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May 24, 2007, 09:59 AM

He's not asking about price difference. He's asking about rate change differences. For instance, Gas is $1/gallon here and $3/gallon in London. We get a %5 summer increase. Does London get a %5 increase? Or is there's like %1?

In this case, prices rise because of (increased demand) vacation season.
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May 24, 2007, 10:14 AM

Quote:
Originally Posted by Cutter
He's not asking about price difference. He's asking about rate change differences. For instance, Gas is $1/gallon here and $3/gallon in London. We get a %5 summer increase. Does London get a %5 increase? Or is there's like %1?

In this case, prices rise because of (increased demand) vacation season.
that was the answer...it depends on what the tax mix is. Personally I have seen prices rize based on the Enviromental Ministery's lobby with no underlying oil barrel price rise etc. No it will not be linear across the globe. We as consumers do not buy on the global market, we buy local and thus deal with all the local surcharges.

Interestingly enough though, living near most refineries seems to get you cheap gas...unless those refineries are in the States. (yes I realize you can also question the school system, roads, social secutiry in places like Venezuala where they refine oil and gas is cheap...whole other discussion)


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May 24, 2007, 10:16 AM

thats why i threw out the ECON part..there are soo many variables on how gas makes it to the pump i was wondering if there was a good cost comparison model to really find out if OPEC is screwing the US more than other countries...


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May 24, 2007, 10:20 AM

Quote:
Originally Posted by jimr140
Last I heard, the 'experts' are saying our problem here is a lack of refinery capacity. Too many refineries are off-line now for maintenance. The per-barrel price of crude has actually dropped a little.
+1. That is the reason why the prices have been increasing. At least according to WTOP experts. Crude has gone down, but because there aren't that many operating refineries prices have been going up.


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May 24, 2007, 10:23 AM

Whatever...I want these Gas prices...
Venezuela Caracas $0.12


"Well behaved women seldom make history"~~Laurel Thatcher Ulrich
"Damn white girls throwin' gang signs!"
Gangsta= High-siding on a 50cc!!
Also, if you take your jacket off and the women are all smiles, then you take your helmet off and 99% of the women look disappointed, please put your helmet back on. kthxbai.-Bexxx
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May 24, 2007, 10:37 AM

There are actually a bunch of complicating issues here.

One - gas is rising because of futures and availibility, the war being a huge factor, as well as the fact that we've pissed of Chavez AND the Iranians... both huge oil exporters... I believe both in the top 4, certainly in the top 10 in the world.

Two - The fuel companies are taking advantage of the fact that fuel is actually a monopoly, reporting MASSIVE (massive being multi-billion) dollar gains over projections. Exxon alone cleaned house enough to take out a chunk of the national debt just last year alone, and learned it could REALLY push the buck after the Katrina debaucle.

Three - Gas has been portrayed as a VERY limited quantity commodity (whether these assertions are actually as valid as they seem is totally relative - this is related to the above post) just recently, as in the last two years. Because of this and Global Warming innitiatives for clean fuel the oil companys recognize that the consumption of oil will probably begin to decrease in about 20 years.

This isn't really a question of whether America is getting the shaft on oil, statistically we have had the lowest pump prices for several years (since the early 80s). This is more a changing trend in how oil is being sold for the three main reasons described above. Also a recognition by big oil that if prices go up all we do is buy MORE in order to secure the lowest price.

Americans went rabid when fuel went above $3, filling every car they had to ensure lowest cost.

Some Personal Assertions *note personal, NOT factual*
- Americans own the most vehicles per household in the world
- America has on of the most poorly concieved public transport infrastructures (reliance on personal transport)
- America is (for the time) still one of the wealthiest countries in the world
- Americans drive a LOT farther than the Dutch, or any european counterparts
- Americans WILL pay $4 a gallon, and in two years it will be status quo
- Big oil will clean house until reliable, renewable, alternate sources of fuel that are "clean burning" become availible
- Readily avialible clean fuel solutions will NOT be massively produced for at least 20 years


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May 24, 2007, 11:00 AM

Don't forget the exchange rate issue. Over the last few years the dollar has been getting cheaper. I still think you could do a % comparison and get what he's looking for. But you'd have to correct for exchange differences.

1:1
40Dol:40Eur

1.5:1
60Dol:40Eur - America gets an apparent cost increase but not really.
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