Topic: Fuel prices hitting an eight year high - page 11. (Read 3974 times)

My nation has something similar as well, the cost of filling the tank of your car is significantly lower than what could be considered for a German for example, it is probably nearly 30-40% cheaper right now. What does that mean? It means we are doing better? Or it is cheaper?

For this type of situation people usually talk about how many litres of gasoline could the minimum wage could buy. In that situation we are eliminating something serious, we are talking about purchasing power, and when you consider that a German could buy nearly 2.7x times more gasoline for their minimum wage than what our citizens could. This shows you that it is in fact cheaper for them, and that is a good calculation.

However that leaves one side to calculate, if you have 50%+ of your citizens work for minimum wage or even less illegally, whereas Germany has only 3% that also means that the calculation is even worse, people in Germany usually make a lot more, which means the difference is even higher.

Yeah even in our country fuel prices keep on increasing together with other goods in the market. Maybe this is still a caused of pandemic because it was a long time before the economy recovered. Sadly only fuel and other goods keep on increasing but the salary of employee still the same. Rising commodity prices make it even more difficult for people.

The price of fuel is not even has high as that of gas in my Country, you need to know that it has double its price this last quarter and is not a joke, many people are looking for other means because you can't depicts what price you will get it when next you want to.

Industrial needs with oil are very high, china is a fast growing economy they need 2x oil than the US needs and this makes prices skyrocket, i think this is a big problem because oil resources are not renewable so the world will be dark if not oil, alternative resources have not been able to fully replace oil because many countries do not support green energy policies.

It’s everywhere. Wait for your government, by law, to increase the minimum monthly salary. That’s one of the very first signs that prices of basic goods in your country will never fall back to what they were during last year. That’s inflation.

I am still inclined to think that the index should be integral. The cost of goods and services show the "expenditure side", but we must compare this with the "revenue side". Using a simple example, what does 1 dollar per liter of gas mean for a Norwegian? And what does 1 dollar for a liter of gasoline mean to a resident of Ukraine? Of course, this is all with regular consumption. I answer:
1.in fact an imperceptible part of his income
2. A fairly noticeable part of income
Or, for example, gasoline for 1 cent in Venezuela is cheap, so everything is fine? But in the UAE, everything is bad, since they have gasoline as much as $ 2.5 per barrel! But the economic situation turns out to be absolutely opposite! 1 cent out of $ 5 income is much more expensive than $ 2.5 out of $ 5,000. It is necessary to compare the commensurate ...

Fuel prices together with grocery prices are the most direct way the consumers feel the rising inflation. We all see the prices at the gas station change each week. But its not only fuel prices that are at so high levels, its all type of energy prices. Economist say it was just a matter of time for energy prices to rise. This winter will be very interesting because it could get very cold and people will need more fuel and heating. The big problem I see in my country is that wages are not rising together with higher living costs. The big fuel companies and OPEC don't care about the average consumer, for them it's all about their bottomline. The higher prices could easily be offset by increasing production but for them it's about maximising profits. Unfortunately we don't have any choice, during winter there is no chance to take the bike or walk when it's freezing and raining outside. We are stuck with the prices at the gas station and have no alternative. Officially there is no fuel monopoly, but the prices at all the gas stations are pretty much the same.

A very interesting and informative collection of data. And tell me, does it seem to you that not the indicator of the net price of gasoline, but, for example, the ratio of the cost of a liter / gallon of gasoline to the weighted average income of citizens of this country will be more weighted? Well, or even to the minimum subsistence level in the country? It seems to me that it will be a more accurate and correct indicator, since it will lead to a "common denominator" indicators in countries with, for example, large stocks, or low living standards, or low stocks and high incomes.

This is something that most of us ignore. At least a part of the price rise related to the crude oil resulted from the massive increase in M1 monetary supply during 2020-21. Look at most of the other commodities, like wheat and coal. You can find a corresponding increase from them as well. And as far as I know, there is no significant change to the crude oil demand/supply pattern during the last 3-4 years. So the increase in prices has to come from somewhere else. And this is going to get worse in the near future.

As long as governments keep on printing more and more money, prices will keep on going up as well. This is not just for fuel, but for everything else. Sure there is a big competition in some prices and that is why prices do not spike too much in small stuff, you may buy milk or bread or egg for similar prices but other stuff, big price stuff keep on going up way too much. Look at house prices, look at car prices, look at education prices, look at healthcare prices. These are all expensive stuff that got even worse. This is why I believe that we should not be focusing on just small items to determine inflation, it doesn't give the full picture.

This issue isn't going to be resolved anytime soon because governments have given full control to oil companies to decide the prices as well as they also add additional VATs and taxes which are killing the hopes of a common man regarding any nearing signs towards fall in petrol and diesel prices.


We pay around Rs.108 ($1.46) per liter for petrol and Rs.98/Ltr. ($1.32) for diesel. Electricity prices are increasing due to the mass adoption of electric vehicles that are replacing petrol and diesel oriented vehicles, but due to this, we are going to see a huge boost in the price of electricity too as when we pay Rs.20 per 20 liter bottle of R.O. purified water and the same is paid for a 1 liter Bisleri water bottle with added minerals, then I don't think they will leave electricity behind and will even slap huge bills on our face on the name of "loss recovery that are caused due to pandemic".

Fuel prices had crashed during the pandemic and when most quarantine measures had taken place. I don't recall seeing fuel prices that low, at least for the past few years. Fuel prices were never considered low here in Greece, especially during the summer season, due to increased demand. However, such prices haven't been seen since the 2012 crisis.

On the other hand, I'd want to believe that this situation won't go on forever, and will slowly subside with time.

The rising inflation has hit everything hard and the petrol price crisis is the main concern of every citizen across the globe and we could see some insane rise in petrol prices or say it has busted to the record high in most countries due to increase in crude oil barrels.


The only one safe from these cricis are the oil producing countries like Saudi Arabia and some other oil producing nations rest all are hit very hard from these financial burden.Here is an image for petrol prices globally and you will find Hong Kong on the top of it with average price per litre above $2.5 which is insane as at this rate $30 will fill half tanks only.



Crude oil prices historical data

The government is imposing further heavy tax on the products which in the last the common man is paying the cost for them.The main problem is not rising prices or inflation but have salaries been readjusting at the same rate or is revenue being generated at the same pace? The simple answer is No so that's why it is big problem for all of us.

This is another chart depicting the changes in petrol prices for over two decades.



The rate has been doubled in all these years and how could the economy will be improved at the same rate if people's savings will be spend on these essential commodities at such an increasing pace? But still there is no answer for these and these problems are not going to resolve easily and the money printing is not at all best possible solution.

Where I am living the prices have touched $1.55 per liter. But here in India, the prices vary from state to state. In some of the states, gasoline prices are as low as $1.25 per liter. But where I am living, the state taxes are too high, and as a result the rate is comparatively higher. Anyway India imports more than 80% of the oil, so I can't really blame the government for taking steps to discourage the usage. The economic downturn from COVID 19 is also there, and as a result they can't afford to lower the tax rates.

It is supply/demand most of the time. Even in stocks that is the case, which we all know it is the case for crypto as well. As long as there is more demand and less supply than the price usually goes up. If government gets in and tries to drop the price or at least limit the price than companies who get it will not be able to profit, they will make a loss and they will close shop which will be even bigger problem.

It means that right now we are seeing a lot of problem with fuel prices because there is a lot more demand right now. World is trying to overcome this pandemic period and go back to regular times, but there were such a big breaks during that period that it caused some stuff to be postponed and right now there are more than usual usage right now, even compared to pre-pandemic period. It will go back into regular prices after all of this is done.

Exactly the same price! Wew! unable to take now; I intend to commute instead; however, the cost of living continues to rise. Previously, I was driving aggressively and not caring about the fuel economy, but now I am mostly driving in eco mode just to save gas! Every day, the price of fuel, food, and other essentials rises, making our lives more difficult. As they have stated, the cost of food and other necessities is rising steadily, while our pay is decreasing steadily.

From the dialogue with you, I saw:
1. You really want to make a scandal
2. Having no other options to prove your advantage - you try to cling to someone else's typo, and return to it 100500 times
3. Hinting that you are an unsurpassed bearer of information and will never turn to open sources. Others, of course, don't know anything and copy everything from the Internet
 
I see no reason to continue the dialogue with such an "amazing character". I will no longer help you realize your complexes ... You can write, not write, I don't care, I'll just ignore
Good luck, do not freeze, wear warm socks and a hat with earflaps, more nuclear energy in your life, which of course does not affect your health

Fuel was pretty low before COVID came along if I'm not mistaken, or at least gasoline was nowhere near as expensive as it is right now.  At my local gas station, the price is $3.56/gallon and I haven't seen it that high in a long time.  As far as there being logic to it, I'm not sure that's always involved in determining what a barrel of oil goes for--and the same goes for stocks, crypto, and nearly every asset class for which there's a market.  There could be politics involved, it could be the effect of inflation, it could be anything that's driving prices up.

But I think the most likely explanation is, in fact, inflation.  I'm seeing it everywhere, so why should oil/gas prices be exempt from it?  I'm hoping we don't see gas prices near $5/gallon like we did in the 2000s.  That was pretty rough, but that was before 2008 when (I think) the recession started after the housing market crashed and the banking crisis happened.

Gas prices in my country are now $1.5 per Liter which is the highest since December, 2024.
I am taking a lot of public transportation these days especially when going into the city.

Oh well i thought this problem is happening in my country only , since last year the fuel price has gone up about 40% in my country and it has resulted in increase in fare of all transports and every thing, and once i used to fill 3$ fuel in my bike and that lasts for days, but now in 3$ today it may last for only 2 days for me.