Petrol (Gasoline) Prices Around the World - Part Deux 2008

[Celtic Warrior]

If my calculations are right the us $/us gallon equivalent price that we pay in the UK is $8.51 per us gallon. :mg:
latest price today is 116.5 p per litre for unleaded 95 octane

 

[GStough]

The woman at the gas station told me that the word is that prices will start to fall....cannot vouch for the validity of the info, but it did come from a gas station employee.

Here's to hoping she's right! :

 

[Boscoeee]

Here's to hoping she's right! :

Hmmmmmmmmm maybe she is on to something, but I think there is a lot of pain before we get there.

Barron's magazine *interviews <http://online.barrons.com/article/SB121279317214553377.html?mod=9_0031_b_this_weeks_magazine_main&page=sp>* highly-followed Goldman oil strategist Arjun Murti, who predicted the current oil "super spike" in 2004. He sees the climb peaking somewhere between $150 and $200 -- which could mean $5.75 gasoline.

Murti dismisses the notion that speculation is driving oil prices to record highs. If so, he counters, why aren't we seeing supply growth?

The end of the super spike will come when oil prices reach a level at which it meaningfully reduces long-term demand. U.S. demand has begun to drop, but have people truly changed their behavior, or are they just driving less temporarily? Outside the U.S. (China, Middle East, Asia) demand is still growing.

Murti is bullish on the major oil companies, *ExxonMobil (XOM <http://seekingalpha.com/symbol/xom>)*, *Chevron (CVX <http://seekingalpha.com/symbol/cvx>)* and particularly *ConocoPhillips (COP <http://seekingalpha.com/symbol/cop>)* due to its lower tax rate and large natural-gas exposure.

He also favors E&P firms, especially those with natural-gas positions. His favorite is *Cabot Oil & Gas (COG <http://seekingalpha.com/symbol/cog>),* followed by *Apache (APA <http://seekingalpha.com/symbol/apa>).*

Pipeline companies stand to benefit from the U.S. need to expand its pipeline infrastructure. Murti likes *Oneok (OKE <http://seekingalpha.com/symbol/oke>)* and *El Paso (EP <http://seekingalpha.com/symbol/ep>).*

He's bearish on refiners, which stand to lose the most from dwindling demand which cut into gasoline margins, and are being squeezed by increasing ethanol production.

Ultimately, Murti doesn't believe $150-200 oil is sustainable.
Our long-term oil forecast looking out 20 years is [for crude] to
fall back to $75 a barrel, or some lower number. The questions are:
How long do prices stay high? How sharply do they rise? And do
people truly change their behavior or are they just temporarily
driving less? It's an unknown at this point.

 

[AndyN]

I caught a quick news item on tv here in the Detroit metro area, that a gas station had it on sale for $.99 today. There were people regulating the number of cars allowed into the station. I think they were holding oozies........

 

[DannyK]

The price made it to $1.51 a liter in Montreal or about $6 a gallon. It went from 1.37 to 1.51 in one day.

 

[palmer]

last night gas was $3.78/gallon. This morning it was $3.93/gallon.
It was the higher number last Wednesday, dropped to the low number yesterday and popped back up....

They are coming out with an engine that runs on compressed air and speeds of 35 mph and distance of 1000 miles on one fill. They are going to put an air compressor in some that won't make it as green but still......

 

[Antonio Vieira]

Honda has released a new car that works on hydrogen. The “fuel” we have to put is simply water.
In a year they expect to produce this kind of vehicle at the same price as the actual car are being sold.
Other manufacturers are doing similar studies!
The kingdom of “oil lords” is reaching the end!

 

[palmer]

I wonder if you can use sea water or dirty water. If not, how clean does the water have to be?

It would be interesting to see...

On NGEO channel or Discovery channel they had a segment on an engineer in California who worked with battery powered items. He was kind of a nut. He was showing his battery powered skateboard and scooters. They had blazing speed. He also said the ER people knew him well from all his crashes.

He had a car that was about the size of a Cooper that was battery powered and recharged on a 240 plug-in in his house. It got something like 500 miles on a charge. It would go about 70 mph. And he laid rubber peeling out in it. Why can't we start mass producing these NOW?????

 

[ddunn]

Has anyone used or is anyone familiar with HoD, Hydrogen on Demand, systems. I’ve seen a lot of hype about them on the web and in recent news reports. Most of the web sites look like a scam. Just looking for info.

 

[Canberra Man]

Hi.
Petrol in the UK is£1.17 litre.
Diesel is £1.33 - £1.37 litre.
Approx $10 per Gallon!!!!
Bet our govt' is worst than your's!!!!

Ken