What's also not helping is the exchange rate of €EUR/$USD, which is currently at $1.05/€ and is putting a huge burden on gas prices. I haven't seen it like that before, in the past, it used to be approximately $1.20/€. On top of that, our government is refusing to lower fuel taxation, despite Eurozone suggestion. Instead, another fuel pass will be distributed (prepaid card only for fuel purchases), providing each person approximately 50-60 € balance to be used for fuel, which is honestly a drop in the ocean.
In my country - the middle class person have been in serious trouble due to oil and gas prices. The hike in the prices have been so much trouble for an average person. How would a poor person survive? The other needful items has gone to extreme high rate. What has this fuel crisis done to the world. Oh Dear lord. 
Topic: Countries with the most expensive fuel | Greece's case study (Read 583 times)
What's also not helping is the exchange rate of €EUR/$USD, which is currently at $1.05/€ and is putting a huge burden on gas prices. I haven't seen it like that before, in the past, it used to be approximately $1.20/€. On top of that, our government is refusing to lower fuel taxation, despite Eurozone suggestion. Instead, another fuel pass will be distributed (prepaid card only for fuel purchases), providing each person approximately 50-60 € balance to be used for fuel, which is honestly a drop in the ocean.
In my country oil prices continue to rise, subsidies are getting reduced and poor people find it difficult to buy good quality oil, I think this is because the country does not have a clear target for the future of the oil industry, my country can still produce oil but it is managed by private companies and foreign companies, state oil companies only import and this keeps prices going up.
When the price of oil rises indirectly it also makes other prices also rise,In this case the government should be able to act seriously to overcome it,
I hope this oil price can return to normal considering that currently the prices of other commodities are also rising
In my country oil prices continue to rise, subsidies are getting reduced and poor people find it difficult to buy good quality oil, I think this is because the country does not have a clear target for the future of the oil industry, my country can still produce oil but it is managed by private companies and foreign companies, state oil companies only import and this keeps prices going up.
I don’t really know if this same country you are talking about is my country also, because the things you mentioned here are all similar to the calamities faced in my country. The rich takes from the poor to remain even richer, talking about the oil production aspect, my country also produces the same oil, in very good quantities but how we are not able to use this oil to our own benefit still baffles me because I am aware of the numerous things oil can do, I’m aware of the income sources oil can create, so it's actually disheartening that our natural resources are being managed by foreigners, the more reason there’s an imbalance in the economy; things always go the rich side.
In my country oil prices continue to rise, subsidies are getting reduced and poor people find it difficult to buy good quality oil, I think this is because the country does not have a clear target for the future of the oil industry, my country can still produce oil but it is managed by private companies and foreign companies, state oil companies only import and this keeps prices going up.
Brent crude is inching towards the $125 level. And here in India, there is some very bad news for the citizens. State oil companies tried to come up with a deal with Rosneft for the import of discounted Russian crude, but Rosneft told them that they don't have any spare capacity. The oil needs to be lifted from Russia on a spot basis, which is going to be more expensive. Unless the EU embargo on Russian tanker crude is fully implemented, the Indian oil companies won't be able to sign any long-term agreement with Rosneft or Lukoil.
Currently, inflation is over 10.7% and is expected to rise even further, the average cost for a liter of 95 unleaded is over €2.35 while everything has become way more expensive, up to the point of it being unbearable.
The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.
In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...
The sad thing is, that inflation will continue to rise and we have to deal with it. Even when the war stops or the pandemic ends, I believe that there's no way for us or even the government to solve the increasing inflation rate of each country. Yes, the oil price hikes each weak and even rich people are suffering. I guess the best thing that we can do is just to grind and hustle harder so we can survive this inflation crisis.
Salaries were supposedly increased in first of May, but it's not an ideal way to battle inflation, since the higher cost of employees is often absorbed by consumers.
Currently, inflation is over 10.7% and is expected to rise even further, the average cost for a liter of 95 unleaded is over €2.35 while everything has become way more expensive, up to the point of it being unbearable.
The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.
In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...
The sad thing is, that inflation will continue to rise and we have to deal with it. Even when the war stops or the pandemic ends, I believe that there's no way for us or even the government to solve the increasing inflation rate of each country. Yes, the oil price hikes each weak and even rich people are suffering. I guess the best thing that we can do is just to grind and hustle harder so we can survive this inflation crisis.
Currently, inflation is over 10.7% and is expected to rise even further, the average cost for a liter of 95 unleaded is over €2.35 while everything has become way more expensive, up to the point of it being unbearable.
The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.
In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...
Currently, inflation is over 10.7% and is expected to rise even further, the average cost for a liter of 95 unleaded is over €2.35 while everything has become way more expensive, up to the point of it being unbearable.
The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.
In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...
Here the situation is worrying. Minimum wage is 242$ and average gasoline liter price is around 1,44$. Diesel fuel is almost the same price of gasoline and there are risks of shortage soon. In case there isn't enough supply for the internal market, the government will try a barter system with another countries, exchanging food for fuel directly. At least that is what the president says, although it's not possible to take his words in consideration, because he isn't a man of his word.
That is the price to be paid for not adopting and developing sustainable sources of energy in abundance. Now the world is heavily dependant on Russia and its friends for one of the most basic goods indispensable in the economy of a country.
To make things worse, most people here live with a minimum wage, while 17,5 million families are living supported by government's welfare program, which is also used as political bargain coin to bribe the miserable for votes in electoral years.
That is the price to be paid for not adopting and developing sustainable sources of energy in abundance. Now the world is heavily dependant on Russia and its friends for one of the most basic goods indispensable in the economy of a country.
To make things worse, most people here live with a minimum wage, while 17,5 million families are living supported by government's welfare program, which is also used as political bargain coin to bribe the miserable for votes in electoral years.
These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.
Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
Greece is on a big inflation even before the war started between Russia and Ukraine though maybe this situation make it more worst. In my country, we expect to have a higher inflation in the coming months and maybe, this could be the start of the price hike. This is one of the problem that world faces today, many countries are already suffering from a big inflation, oil is one thing and I can expect more commodities to rise in price as well. Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
Currently, inflation is over 10.7% and is expected to rise even further, the average cost for a liter of 95 unleaded is over €2.35 while everything has become way more expensive, up to the point of it being unbearable.
These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.
Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
Greece is on a big inflation even before the war started between Russia and Ukraine though maybe this situation make it more worst. In my country, we expect to have a higher inflation in the coming months and maybe, this could be the start of the price hike. This is one of the problem that world faces today, many countries are already suffering from a big inflation, oil is one thing and I can expect more commodities to rise in price as well. Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
I don't see any good thing happening in coming days.
These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.
Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
Greece is on a big inflation even before the war started between Russia and Ukraine though maybe this situation make it more worst. In my country, we expect to have a higher inflation in the coming months and maybe, this could be the start of the price hike. This is one of the problem that world faces today, many countries are already suffering from a big inflation, oil is one thing and I can expect more commodities to rise in price as well. Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
the price of the ticket in my country has also skyrocketed. Some people can't help but complain without even knowing the real reason why it did happen but me I don't complain anymore because I know that it is only caused by the rise of the fuel's price. Despite of the increase, the operator of the vehicles do also earns less than what they are earning before the fuel hike came.
If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.
Nations could have prevented this, there is absolutely no reason for this to happen right now. Well it is simple, instead of spending so much on oil, or military, or religion, or anything else that they are spending and mainly being so corrupted, they could have spent billions (not just Greece, all nations) could build an electric vehicle, like tesla but for public transportation (maybe some exist) as a bus, and then put solar panels which is an invention that already exists, and put it everywhere. So that would mean that it would cost literally nothing for a nation to provide bus rides to its citizens, maybe a tiny amount for like replacements and repair and all that.If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.
They are doing what they want - but the world is in limbo what to do if Russia is not going to give them oil and gas. I think they forget that Russia can survive the sanctions but the world would surly be going to ask for oil.
the price of the ticket in my country has also skyrocketed. Some people can't help but complain without even knowing the real reason why it did happen but me I don't complain anymore because I know that it is only caused by the rise of the fuel's price. Despite of the increase, the operator of the vehicles do also earns less than what they are earning before the fuel hike came.
If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.
Nations could have prevented this, there is absolutely no reason for this to happen right now. Well it is simple, instead of spending so much on oil, or military, or religion, or anything else that they are spending and mainly being so corrupted, they could have spent billions (not just Greece, all nations) could build an electric vehicle, like tesla but for public transportation (maybe some exist) as a bus, and then put solar panels which is an invention that already exists, and put it everywhere. So that would mean that it would cost literally nothing for a nation to provide bus rides to its citizens, maybe a tiny amount for like replacements and repair and all that. If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.
These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.
Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
It's a vicious cycle, fueling costs increase transportation costs which are passed into products and causes the inflation we're talking about. Fueling prices keep soaring here, averaging 2.45€/liter for 95 unleaded petrol while groceries cost at least 10-15% on average.Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
In the meantime, despite the imposed sanctions, Russia claimed more than $20b in revenue from oil sales.
These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.
Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.
In my country (India), we have a strange situation. The gasoline and diesel prices have increased only by around 5% during the last 6 months. The reason is that the government reduced taxes on fuel, and then asked the public-owned refiners to subsidize the fuel. PSUs such as Indian Oil Corporation are incurring huge losses for every liter of fuel they sell on market. Now I don't know for how long they will be able to continue with this system. Because at some point, the subsidies need to stop. Else these companies are going to become bankrupt.
India is still doing trades with Russia for their oil. I haven't kept up with Russian oil exports but it caused some concern for the West that India was still electing to do business with Russia despite sanction efforts. A source I found suggests India is not looking to stop their cheap oil binge: https://www.cnn.com/2022/05/31/energy/india-snapping-up-russian-oil-intl-hnk/index.html
All the fuel costs in Europe skyrocketing is really by choice. If they want to do business with Russia and lower their fuel costs, they can. India's doing well for themselves and I don't find the war in Ukraine a compelling reason to send fuel costs soaring. Good for them.
Even at this point, imports from Russia represents only 20% of the total imports for India. I would not say that it is an insignificant number, but the impact on trade deficit and local inflation is limited. And one more thing. Most of the Russian crude is being imported by private refiners such as Reliance India and Nayara Energy. And they are exporting the refined products (petrol, diesel.etc) to Europe. These private refineries are profiting out of this business and not passing on the profits to the common people of India.
Due to the ongoing war, inflation along with fuel prices have skyrocketed among the globe, with households not being able to keep up with the increased living costs. However, the impact of the increased living costs differ from country to country.
Bad, this year the world economy is getting worse due to the increase in fuel, my country in 2021 the price of gasoline type fuel is $0.6/diluted to enter in 2022 to $ 1/diluted, the economy in all sectors deteriorated especially the market 80% of all goods rose due to the increase in fuel prices.It seems that the skyrocketing fuel has not only happened in Greece, almost all countries have experienced it, trading activities have stalled, Complaints from small businesses screamed, almost entirely suffering from rising fuel costs.
Greece was warned by Turkey not to drill for fuel in the Mediterranean, but Greece did not heed the ban, If Greece and Turkey fight and fight over oil in the Mediterranean, I believe this will have a bad impact on both countries, of course the people will suffer more than what is happening today.
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