NationStates Jolt Archive


Price of Oil

Kroblexskij
01-09-2005, 15:33
Before i go ranting, can an american tell me how much petrol is per litre.
Now i know you hate metric but its so much nicer/easier in my view.

Petrol here is £0.92 per litre I dont know what it is in europe either. But the other day i heard that american petrol was only £0.45 a litre.
And so i was wondering why we aren't up in arms invading countries when we have the more expensive prices.

So can someone clear it up
New Exeter
01-09-2005, 15:40
$3 for 3.79 liters (a gallon)

So... Roughly $1.26 per liter. That'd come out to around... £0.69 per liter.

Edit:

And Europe has almost always had higher gas prices than the United States has. Ours are currently at the highest they've been for a long while.
Teh_pantless_hero
01-09-2005, 15:42
$3 for 3.79 liters (a gallon)

So... Roughly $1.26 per liter. That'd come out to around... £0.69 per liter.
And it varies by state due to distance from wherever the oil is being shipped from and how much everything costs in that state.
Kroblexskij
01-09-2005, 15:42
right

why are the americans going on so much about their oil when we have to them - impossible prices

ok if it varies, then is it the central states shouting about it.
Teh_pantless_hero
01-09-2005, 15:44
right

why are the americans going on so much about their oil when we have to them - impossible prices

ok if it varies, then is it the central states shouting about it.
Because last summer prices were below $1.75 a gallon in many places.

And doesn't England have about a 1 billion % tax on petrol?
Compulsive Depression
01-09-2005, 15:46
$3 for 3.79 liters (a gallon)

So... Roughly $1.26 per liter. That'd come out to around... £0.69 per liter.
Hmm... I make $3/3.79 = $0.79 per litre. Or about 42p per litre.

Beats the 89p/litre it was last time I filled up. Glad my Renault 5 don't use much...

Edit:
And doesn't England have about a 1 billion % tax on petrol?
It's "only" about 300%.
Drunk commies deleted
01-09-2005, 15:48
right

why are the americans going on so much about their oil when we have to them - impossible prices

ok if it varies, then is it the central states shouting about it.
We tend to drive more. Many of us drive long distances to and from work every day. I cover nearly thrity miles each way. I've heard that most people in Europe don't commute anywhere near that distance on a daily basis.
Kroblexskij
01-09-2005, 15:54
we go on buses/trains

i like the french idea - having a moped and a pair of roller blades on the back of the moped. i think its so fun


but yes euros dont use their cars to commute that much. we definately don't use cars to the extent of americans
Armacor
01-09-2005, 15:56
Australia its about 1.35(AU) per liter...
Ruderson
01-09-2005, 16:24
In Italy it's about 1,30 Euro per litre (unleaded gas). The funny thing is that companies and stations charge for about 30 cents, the euro is taxes. And, even funnier, in these taxes there are some "una tantum" for ecceptional necessities, like the war in Abyssinia (do you know it? I mean, did you study it? it was like in 1935) or the flood in Florence (1966) or the earthquake in Irpinia (near Naples, 1980).
Beorhthelm
01-09-2005, 16:29
I cover nearly thrity miles each way. I've heard that most people in Europe don't commute anywhere near that distance on a daily basis.

I'll laugh about that when im doing my 50 mile commute out of London this evening, along with a million or so others.
Corneliu
01-09-2005, 16:36
Right now, here in America, it depends on where you live. Since our capacity has been severaly crippled due to Hurricane Katrina, gas prices have jumped up overnight.

I haven't checked lately but I was paying over $2 us dollars per gallon. Now? It more closer to $3 thanks to said hurricane.

GA is nearly out of gas and thus are paying even higher gas prices. Demand has exceeded supply right now and thus prices are going through the roof.
Aliria
01-09-2005, 16:41
I'll laugh about that when im doing my 50 mile commute out of London this evening, along with a million or so others.
You've got that marvelous public transportation system though. I can't get to the suburbs from downtown where I live without a car or 2 hours to war with a desperately overtaxed bus system. And my city supposedly has better Public Transit than many of similar size.
Brians Test
01-09-2005, 17:37
$3 for 3.79 liters (a gallon)

So... Roughly $1.26 per liter. That'd come out to around... £0.69 per liter.

Edit:

And Europe has almost always had higher gas prices than the United States has. Ours are currently at the highest they've been for a long while.

Correct. The U.S. has lower prices because our gasoline isn't taxed nearly as high as gasoline in European countries. The price had been really low for a long period of time, so families budgeted under the assumption that gasoline would remain within a certain price range. We have a lot of space here in the U.S., so it's not uncommon for a family of four to burn 30 gallons (11.73 litres) of gasoline per week. That's over 120 gallons per month.

The problem is the rate of increase. Four years ago, a gallon of gasoline cost approximately $1.00. Three months ago, a gallon of gasoline cost $2.00 per gallon. This week, gasoline cost $3.00 per gallon. For the family of four, that would increase household gasoline expenses by $240 per month (approximately 132 british pounds per month). I think that you can probably see the problem.
Mirchaz
01-09-2005, 18:10
$3 for 3.79 liters (a gallon)

So... Roughly $1.26 per liter. That'd come out to around... £0.69 per liter.
...

let's see if i got my conversion right... (Please correct me if i don't)

Drudge shows gas @ 5.87 a gallon.
5.87 US is converted to 4.71 Euro.

1 gallon = 3.78 litres.

4.71 euro per 3.78 litre = 1.25euro a litre?


pretty expensive in the US now, neh? :P (stupid hurricane, bet it doesn't drop to under 3 a gallon in some places until months from now)
Mesatecala
01-09-2005, 18:15
Gas isn't $5.87/gallon in the US on average (and on average it remains below $3). There are instances of price gouging and that's being investigated in some cities.
Mirchaz
01-09-2005, 18:20
Gas isn't $5.87/gallon in the US on average (and on average it remains below $3). There are instances of price gouging and that's being investigated in some cities.

sure, it's not that way on average. but the person who is paying 5.87 doesn't care about the average, he cares about the 5.87 he's forced to pay.

below 3 dollars... by what, 10 cents at the most?
Mesatecala
01-09-2005, 18:31
sure, it's not that way on average. but the person who is paying 5.87 doesn't care about the average, he cares about the 5.87 he's forced to pay.

below 3 dollars... by what, 10 cents at the most?

Go to a different gas station. Those prices ($5-$6) are reported in stations that are cited for price gouging.

Uh at $2.42 on a national average.

http://news.yahoo.com/s/ap/20050901/ap_on_bi_ge/katrina_oil_hk3

"Gasoline futures surged for the fourth day in a row on the New York Mercantile Exchange, sending prices 25 percent higher in less than a week. Unleaded gasoline for October delivery traded at $2.42 per gallon, an increase of more than 16 cents."

There will be more increases, but I feel once they get the refineries back online this will turn around (one is going to be online shortly.. I believe it produces 235,000 BPD).
Mirchaz
01-09-2005, 18:42
Go to a different gas station. Those prices ($5-$6) are reported in stations that are cited for price gouging.
that's easier said than done.

Uh at $2.42 on a national average.

http://news.yahoo.com/s/ap/20050901/ap_on_bi_ge/katrina_oil_hk3

"Gasoline futures surged for the fourth day in a row on the New York Mercantile Exchange, sending prices 25 percent higher in less than a week. Unleaded gasoline for October delivery traded at $2.42 per gallon, an increase of more than 16 cents."
That's what it's TRADED at, not what's sold at the pump. Every gas station i've seen in my part of town has gas @ 2.89 or higher. (again, not like i could go to a different gas station, or the persons paying 5+ for that matter.)

o, and you forgot the most important paragraph of that post: "Gasoline supplies tightened Thursday in markets that depend on shipments from Gulf Coast refiners and pipelines, and motorists increasingly faced pump prices well in excess of $3 a gallon."

There will be more increases, but I feel once they get the refineries back online this will turn around (one is going to be online shortly.. I believe it produces 235,000 BPD).
Prices always go down slower than they go up, it's my opinion that gas won't go down for a cpla months after the refineries come back online.
Mesatecala
01-09-2005, 18:44
That's what it's TRADED at, not what's sold at the pump. Every gas station i've seen in my part of town has gas @ 2.89 or higher. (again, not like i could go to a different gas station, or the persons paying 5+ for that matter.)

o, and you forgot the most important paragraph of that post: "Gasoline supplies tightened Thursday in markets that depend on shipments from Gulf Coast refiners and pipelines, and motorists increasingly faced pump prices well in excess of $3 a gallon."

No I'm sorry, but that is the national average. Your town is not indicative of the whole. It is $2.85 here in my area, but California gas has always been more expensive then the national average. Also one of the largest refineries that produces 235,000 bpd will be back online shortly. I think we will get back most of our fuel production in two weeks.

The supplies may have tightened, but the reserves have been tapped into to supplement any shortage at this time.

Prices always go down slower than they go up, it's my opinion that gas won't go down for a cpla months after the refineries come back online.

I see that there will be some leveling out after this weekend when demand declines because of the end of the long driving season.
Arab League
01-09-2005, 18:48
you guys have it really bad

here in Egypt one liter is with 1 Egyptian pound
1$=5.6 LE(livre Egyptian), so that makes a liter on petro. is about 0.05 cents
while in saudi arabia is with 0.20 penny(egyptian)
divide that by 5 and you will get the coast of petroleum in saudi arabia by dollar
Illicia
01-09-2005, 19:04
I see that there will be some leveling out after this weekend when demand declines because of the end of the long driving season.

In my city on Monday, gas was $2.72/gallon. Last night it was $2.85/gallon. This morning it was $3.05. It is expected here to go over $3.50 by this weekend sometime. It might go higher and then level off sometime next week, but it'll still be DAMN high compared to this past week.

And while the national average may be $2.42, I'd be lucky to find a station that still has the price anywhere under $2.80. Kinda hard to find any good feeling about that national average when I'm paying almost half a dollar more.
Mirchaz
01-09-2005, 19:16
i think we're gonna hafta agree to disagree

No I'm sorry, but that is the national average. Your town is not indicative of the whole. It is $2.85 here in my area, but California gas has always been more expensive then the national average.
In my area it was 2.89 last night, my g/f bought gas @ 2.99 this morning. it was 2.69 the day before yesterday. Calif. may have higher gas prices than the norm, but Texas is supposed to have some of the lowest. dallasgasprices.com show the gas around here, at it's lowest 2.49, 6 cents higher than your nat'l avg. I think across the state, it showed 4 cents higher than what you said was the nat'l avg. (texasgasprices.com). Me personally, i don't want to hafta drive 40 minutes just so i can go to a cheaper gas station.

Also one of the largest refineries that produces 235,000 bpd will be back online shortly. I think we will get back most of our fuel production in two weeks.
that may be the case, but i bet gas prices don't go down to 2.40something (what it was two weeks ago) in the same time frame.

The supplies may have tightened, but the reserves have been tapped into to supplement any shortage at this time.
don't know if it was this thread or another, but someone stated that just because they released access to the reserves doesn't mean it's gasoline yet, and therefore pretty much useless to car drivers.


I see that there will be some leveling out after this weekend when demand declines because of the end of the long driving season.sure it will level out, but not on the plateau i want it to level out at (hell, at this point i'd be happy if gas was just 2$ a gallon (still pisses me off, but not at the level 2.50 and up does).

anywhos, i'm glad your optimistic(sp) about it. i'm sure not.

sorry it took so long to reply, was eating lunch. ;)
Mirchaz
01-09-2005, 19:17
In my city on Monday, gas was $2.72/gallon. Last night it was $2.85/gallon. This morning it was $3.05. It is expected here to go over $3.50 by this weekend sometime. It might go higher and then level off sometime next week, but it'll still be DAMN high compared to this past week.

And while the national average may be $2.42, I'd be lucky to find a station that still has the price anywhere under $2.80. Kinda hard to find any good feeling about that national average when I'm paying almost half a dollar more.


see what i mean Mesatecala? Ppl don't care about the nat'l average when they're paying more (hence my regular joe upset @ 5.87 comment earlier in the thread)
Vaitupu
01-09-2005, 23:41
Last night in my town, 1 gal was at 2.85. Today, it is $3, with reports from most gas station owners that it could reach 4 within the next 24-48 hours (you can sit outside the gas station and watch them raise the price on an hourly basis as central offices say it may be longer and longer untill we get shipments)
The most recent report I got was 3.19. This is only 4 hours after it was at 3 even.


*sigh* I remember last summer and filling my tank on $20. Last night it took 35.
Vetalia
01-09-2005, 23:43
All this shows is the refinery crisis in the US. We need more of them, and we need them now, by executive order, Congress, or any means necessary. We have the crude, but we can't refine it. This situation won't change until we build more refineries, be they government oversight or private.
Sel Appa
01-09-2005, 23:45
Some scumbags down in Georgia gouged gas up to $6 a gallon. I say it's all good that gas is high, but it should be going to the government and not oil companies.

Just today my friend asked her mom if she could throw a rock at the guy changing the numbers.

Also, cap lock sales are going up! Buy a cap lock today before I steal your gas! Muhaha!
Mesatecala
01-09-2005, 23:47
i think we're gonna hafta agree to disagree

Yes because I don't deny the facts.

In my area it was 2.89 last night, my g/f bought gas @ 2.99 this morning. it was 2.69 the day before yesterday. Calif. may have higher gas prices than the norm, but Texas is supposed to have some of the lowest. dallasgasprices.com show the gas around here, at it's lowest 2.49, 6 cents higher than your nat'l avg. I think across the state, it showed 4 cents higher than what you said was the nat'l avg. (texasgasprices.com). Me personally, i don't want to hafta drive 40 minutes just so i can go to a cheaper gas station.

It doesn't matter what your area has. It isn't indicative of the whole. The numbers I cited are what the national average is at. I say if you have a vehicle with good gas mileage.


don't know if it was this thread or another, but someone stated that just because they released access to the reserves doesn't mean it's gasoline yet, and therefore pretty much useless to car drivers.

No. It relieves pressure on the market psychologically.


sure it will level out, but not on the plateau i want it to level out at (hell, at this point i'd be happy if gas was just 2$ a gallon (still pisses me off, but not at the level 2.50 and up does).


Get real. My parents pay $6.50/gallon in Italy.

The market will flatten after demand falls.

Remember? Who else is in the market for Crude? CHINA! Can China afford these prices? NO. Their demand is already weakening big time.

Remember we only get 11% of our gas from the gulf region (refined). Most of the gas you put in your car is from international refineries.
Vetalia
01-09-2005, 23:49
Some scumbags down in Georgia gouged gas up to $6 a gallon. I say it's all good that gas is high, but it should be going to the government and not oil companies!

That's just disgraceful. They should be imprisoned for it.

Anyway, the tide is turning against the oil companies...people aren't believing their bullshit lies anymore, and they aren't going to tolerate price gouging. Oil companies will see some serious problems if they don't work to lower prices.

We also need strategic reserves for gasoline and distillates. All the crude oil in the world won't help if we can't refine it, and this disaster shows how unprepared our energy infrastructure is. The SPR will tame crude prices (and it has), but it won't solve the problem.
Mesatecala
01-09-2005, 23:51
Vetaila, get real I say again. The oil industry is what backs the economy. The consumers need to understand that this will take time to restart refinery production. There are some refineries that is going to be restarted shortly. From what I heard, oil refineries appeared to be relatively unscathed, but they are off line.
Vaitupu
02-09-2005, 05:03
Vetaila, get real I say again. The oil industry is what backs the economy. The consumers need to understand that this will take time to restart refinery production. There are some refineries that is going to be restarted shortly. From what I heard, oil refineries appeared to be relatively unscathed, but they are off line.
The refineries were relatively saved (more or less). the problem is that infrastructure, such as the major highway (10 I think) was heavily damaged, making shipping very expensive.

What I don't understand is this. We all know the US needs more refineries. This implies a large demand. If someone with the means built a refinery, wouldn't that be a good investment? High demand=high cost...therefore, building a few new refineries would allow a person or corp. to cash in on this high demand without reducing prices so much that it would be a pointless investment. So my question is why has noone build a new refinery?
Corneliu
02-09-2005, 05:13
The refineries were relatively saved (more or less). the problem is that infrastructure, such as the major highway (10 I think) was heavily damaged, making shipping very expensive.

They may have been saved but they are shut down and are probably damaged. It'll take time to repair and to bring them online. Weeks if I'm hearing things correctly.

What I don't understand is this. We all know the US needs more refineries. This implies a large demand. If someone with the means built a refinery, wouldn't that be a good investment? High demand=high cost...therefore, building a few new refineries would allow a person or corp. to cash in on this high demand without reducing prices so much that it would be a pointless investment. So my question is why has noone build a new refinery?

I would have to refer this question to the environmentalists. They have prevented us from building anymore refineries as well as drilling where we need to drill to get oil out of the ground. If we could drill where we need too, price of oil would drop dramatically.