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What are you Paying for Gasoline? Petrol Prices Around the World

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Wes Bucey

Prophet of Profit
#41
Atul Khandekar said:
Petrol: $0.85/Lt
Milk : $0.45/Lt

$1 ~ Rupees 45.20
Note:
In my math, I use a rough conversion of 3.8 to multiply the price per liter to equate price per gallon (alternately, of course, to divide price per gallon to equate price per liter.) (the exact conversion is 3.7854118)

Yesterday, March 13, I drove approximately 150 miles through three counties (Cook, DuPage, and Lake), which include and surround Chicago. I saw gas prices for regular unleaded gasoline range from a low of $1.699/gallon to $2.139/gallon. There were some lower prices, but they were part of a required purchase of car wash or cigarettes or some other thing.

There was no apparent consistency in price for brand or community location. In one town, I saw Mobil brand with a $0.15 spread between two stations a mile apart. In Chicago proper, which has the highest combination of special and sales taxes on gasoline in the area, I saw a Shell and a British Petroleum with prices of $1.749/gallon and three hours later in rural Lake County (where the sales and other tax is $0.15 Less per gallon) saw the same brands for $1.799 and $1.849.

Gouging? Maybe it was just a function of the amount of gasoline volume the stations sold. Or the fact that some stations were 24/7 operations while others closed by 8 or 9 pm. I can understand the overhead of maintaining a large multipump station with MiniMart open 24 hours versus overhead of a small 4 pump station which runs only 1-1/2 shifts per day. I further understand that overhead being offset by the high profit from the MiniMart which sells cigarettes by the case and lottery tickets by the bushel.

MILK?!
4 supermarkets within 5 miles of my home have minimum of two brands of milk each; one carries four brands. The store with four brands ranged from $1.69/gallon to $3.29/gallon for whole milk ($3.29 is in glass bottle with additional deposit required.) One gas station MiniMart in town consistently sells whole milk (one brand only) for $2.09/gallon. (Its unleaded regular gas is $1.709/gallon.)
 
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Jen Kirley

Quality and Auditing Expert
Staff member
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#43
Not too long ago I asked a gas station attendant about the difference in prices. (The gas prices at this particular station were 5 to 10 cents lower per gallon most of the time.) He told me his station gets regular fines from the parent company for charging too little for their gas.
 
S

SteelWoman

#44
Interesting news story this weekend, our Alabama Guv' is trying to repeal an old state law that prohibited gasoline "price wars," and stopped stations from selling the gas TOO cheap. If it repeals, there is talk gas wars will ensue. BRING IT ON!
 

Mike S.

Happy to be Alive
Trusted Information Resource
#45
Icy Mountain said:
Hi Everyone,
I missed you, been a little busy lately and they burned my QA flag and shot my horse as I charged up the ISO9K hill.
hey Icy -- glad to see you back. Stop by more often! :bigwave:
 
W

wrodnigg

#46
Austria:

Premium 0.853 - 0.951 / L
Normal 0.825 - 0.931 / L
Diesel 0.708 - 0.829 / L

And this is rather cheap for the EC.
 
#47
Icy Mountain said:
Hi Everyone,
I missed you, been a little busy lately and they burned my QA flag and shot my horse as I charged up the ISO9K hill. I couldn't resist this one. My dad, who is retired from the oil "bidness", explains it this way:

"As soon as OPEC announces production cuts, the price at the pump goes up because the refiner must immediately begin paying higher market prices for crude and is just passing that on to the end user."

"Then as soon as OPEC announces production increases, the price at the pump should go back down since the refiner is paying lower market prices?" I naively asked.

"Oh no, the high priced crude that was purchased yesterday must be refined, shipped, and pumped into your car, all used up, before you can start paying for the lower priced crude we just started buying," he replies.

WELCOME TO THE OIL BIDNESS! :lol:
Not to mention that the gas in the ground, at the station, is the same gas that yesterday you paid 1.50/gal for is the same gas that you are paying 1.60/gal today.
As usual, everyone gets a break except the end user.
As another example, Levi's moved all of their manufacturing operations overseas for cheaper labor; did we see a price decrease in the stores? No. In fact the prices have increased.
 
D

David Hartman

#48
Sam said:
Not to mention that the gas in the ground, at the station, is the same gas that yesterday you paid 1.50/gal for is the same gas that you are paying 1.60/gal today.
As usual, everyone gets a break except the end user.
As another example, Levi's moved all of their manufacturing operations overseas for cheaper labor; did we see a price decrease in the stores? No. In fact the prices have increased.
Let's see if I understand the current economic scenario in the U.S. today.

Manufacturer's are moving their operations to foreign countries where they have significantly lower overhead, putting U.S. workers either out of work or placing them in a situation where they have only "service" oriented jobs to gain (many of which pay much less than the manufacturing industries where they were previously employed).

Now the manufacturers are importing their products, selling them at the same (or higher) prices than when they were produced in the states.

Now is it me, or does anyone else see a process that could have diminishing returns? Could we not reach a point where the workforce in the U.S. cannot afford to purchase the vary products that they used to make, and the manufacturer is going to have to either significantly lower their profit expectations, find another market for their products, or go out of business?

It really is as simple as: When I made $60,000 a year, I could afford a $30,000+ vehicle; but now that I'm making less than $30,000 a year that vehicle (and most "new" vehicles) are now beyond my financial capability.
:mad:
 

Mike S.

Happy to be Alive
Trusted Information Resource
#49
I don't have the data at hand, but on the drive home I heard that the actual percentage of US jobs "exported" so far is well less than 1% -- I think it was 0.1%. And the median income level drop that is taken as such terrible news has really only dropped due to the influx of immigrants taking low-paying jobs and the median income of the top 90% of workers has actually increased. Therefore, I think the media has made the problem seem worse than reality (I know that is hard to believe).

Does every company represented in the Cove always purge their inventory at the "old" price before a price increase? Or does a price increase sometimes cover inventory as well.

Also, I wonder if the folks who own oil stocks (individually or in a mutual fund, 401(k) etc.) are seeing a major increase in their portfolio value? Let's not forget that corporations are really just groups of people (owners) looking to maximize their profits, the same as us folks in the Cove are trying to do for their employers.

There are 2 (or more) sides to every story.
 
D

David Hartman

#50
Mike S. said:
I don't have the data at hand, but on the drive home I heard that the actual percentage of US jobs "exported" so far is well less than 1% -- I think it was 0.1%. And the median income level drop that is taken as such terrible news has really only dropped due to the influx of immigrants taking low-paying jobs and the median income of the top 90% of workers has actually increased. Therefore, I think the media has made the problem seem worse than reality (I know that is hard to believe).

Does every company represented in the Cove always purge their inventory at the "old" price before a price increase? Or does a price increase sometimes cover inventory as well.

Also, I wonder if the folks who own oil stocks (individually or in a mutual fund, 401(k) etc.) are seeing a major increase in their portfolio value? Let's not forget that corporations are really just groups of people (owners) looking to maximize their profits, the same as us folks in the Cove are trying to do for their employers.

There are 2 (or more) sides to every story.
:topic:
I know that this is off topic, and I don't have nation-wide statistics to support my case, but today the 3rd largest employer (second largest in manufacturing) in Marion, Indiana (Thomson Consumer Electronics) announced the closing of their picture tube assembly plant. All operations are being moved to Mexico.

This is approximately the fifth of our major manufacturers to leave within the past 4 years (most have moved operations to foriegn countries, some just went out of business).

In the past 5 years Marion's population has dropped by about 20% and they currently have only 1 major manufacturing business (GM Body plant) left, with the second major employer being the Marion General Hospital.

In 1977, when I first moved to Marion, we had a thriving and diverse manufacturing base that consisted of suppliers of paper products, automotive products, copper/wiring, electrical components/devices, and probably others that I can't recall at the moment.

And Marion is only one example in a state that has had this as an ongoing concern for several years now. So I really have to question the 1% (and REALLY have to question the .1%) figures.
:argue:
 
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