Worldwide rates of gasoline price increases query

Discussion in 'Gen 2 Prius Fuel Economy' started by Codyroo, May 29, 2008.

  1. Codyroo

    Codyroo Senior Member

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    I've tracked my mileage and what I've paid (per American gallon) for nearly a year now. On a fill up on Feb 12th, I could purchase gasoline for $3.08 per gallon. My last fill up (May 28th) I paid $4.24 per gallon (same gas station). This represents about a 35 - 40% (38%) increase over a 3.5 month period.

    My question is for those outside the US, how much (% rate increase) have your petrol bills increased? I can imagine how unsympathetic someone in the UK (who is paying $9 - 10 per gallon (US dollars/US gallon) for petrol), but I'm curious how much of a rate increase they've seen (10%? 20%? Almost none?).

    I wonder if other areas Australia (Pat?), UK, Sweden, Denmark, Canada, etc have seen similar rate increases over this period of time. I'm guessing not, as oil prices are a function of supply and demand as well as the strength of the dollar (which is pretty feeble at the moment).
     
  2. PriusSport

    PriusSport senior member

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    I was talking to a friend in Australia the other night, and he said gas prices have been skyrocketing there, too, even though the Australian dollar is strong. I conclude the high oil futures prices are not from the weak American dollar, but mainly from sheer overspeculation in the futures market. It is crazy to allow the economies of major countries to be at the mercy of a bunch of hedge bettors who react to every little forest fire in the World. The government has to step in, and put some limits on the speculation in this country. Your local gas station is responding daily to the oil futures price--which depends on which way the wind blew yesterday in Nigeria--not on true supply/demand.
     
  3. Kipander

    Kipander New Member

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    In Finland gas price was about 1,4€/liter in january and at the moment it is 1,5€/liter.

    Our biggest relief is that dollar is so low but when it gets up against euro our gas prices raise dramaticly,if oil barrel stays same level in dollars.
     
  4. priusuk2008

    priusuk2008 New Member

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    I posted in another area in this forum that gas prices in the UK had risen by about 27% in a year in pound sterling (£). The price I paid a year ago was £0.89 a litre. That same litre now costs £1.13 2 weeks ago. Yesterday I saw £1.16 a litre on the adboards, which is now a 30% rise, similar to your US increase.
     
  5. Codyroo

    Codyroo Senior Member

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    Do you know what the cost per liter was back in Feb 2008?

     
  6. benw123

    benw123 Junior Member

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    IIRC it was well over £1 per litre, something like £1.09. However, diesel, which accounts for approximately half of all new car sales in Europe, is even more expensive and the gap between it and petrol is widening thanks to industry and haulage use.

    I filled up my Prius for the first time this evening (!) and paid £1.18 for 95-RON unleaded; super was £1.22 and diesel £1.28. I saw £1.30 for diesel in London today.
     
  7. samiam

    samiam Antipodean Prius Poster

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    Here in NZ petrol (regular) is $2(nzd) a litre. Calculating the US prices and currency conversion rate shows US prices are $1.33 (nzd) a litre. If memory serves, 2 years ago we were paying between $.98 and $1.14 a litre (prices changed almost weekly).

    NZ exports its high-grade oil and imports low-grade oil to refine. Go figure!

    Speculation is a problem. The fact that oil is still traded in $US is even a bigger problem. The fact that oil companies are routinely declining to rebuild capacity after natural and man-made disasters (so they can benefit from higher prices) is yet another problem.
     
  8. The Tramp

    The Tramp Italian Prius Expert

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    Last year in Italy petrol was €1.36 - now €1.52
    In Feb 2008 €1.38 - Per litre, naturally.

    In Europe you have fixed value duties - 56 cents a litre in Italy. Add production costs and VAT and you get the price at the pump.

    If tomorrow fuel was free of charge, in Italy you would still pay 56 cents + 20% VAT = 67.2 cents a litre.
     
  9. Codyroo

    Codyroo Senior Member

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    It looks like there has been about a 10% increase in fuel costs since February in various parts of the world. I was trying to get a feel for how much of the US increase was due to supply/demand vs the weakening dollar. And it looks like it might come in around 40/60 to 50/50, with the weakening dollar being responsible for more of the expense. Kind of hard to figure out where speculation factors into all of it, but I agree, it wreaks of it.
     
  10. hiremichaelreid

    hiremichaelreid New Member

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    2 years ago, gas in Ottawa, Canada was about 60 cents per litre and spiked to $1.00 per litre before falling back to about 60 cents. At this time Canadian $ was worth about 80 cents US.

    4-6 months ago Canadian $ spiked to $1.10 US and is now about par $1.01 US.

    About 3-4 months ago gas returned to $1.00 per litre and has since risen to about $1.27 - $1.29 per litre now.
     
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