World Fuel prices etc-
- 5150bossman
- Posts: 608
- Joined: Thu Apr 01, 2010 5:00 am
- Location: So Cal
Now we should all try to compare apples to apples, and oranges to oranges. A U.S. gallon is different from an Imperial gallon which is different from liters. 1 U.S. gallon is 3.78 liters. 1 Imperial gallon is 4.54 liters. 1 liter is, well... 1 liter.... (sorry, couldn't help myself.) Now, a further subject near and dear to our hearts, Taxes. Here in the Great (overpriced) State of California, we pay a total of $0.64 per gallon for Federal and State taxes, so that gallon of gas I paid $4.57 for, really comes out to $3.93 in actual cost, U.S. That tax money is suppose to go for infrastructure projects (to fill all those pot holes...), but typically gets redirected to other budgetary priorities. We also have to take gasoline octane rating into account. Here in California, a typical gas station has 87 (less expensive), 89 and 91 (more expensive) octane. I know other states have octane levels down to 84 or even 82! Some stations sell race gas at 100 octane and so forth. So for this analysis, we will talk about the 87 octane. So, that $3.93 gallon equates to approximately $1.04 U.S. per liter. Now for a monetary comparison. As of July 3, one U.S. dollar equals 0.504 British Pound, 0.63 Euros, 1.04 Australian Dollars and 1.02 Canadian Dollars. So the final comparison for a liter of untaxed California gas (in U.S. dollars) is; U.S. $1.04 (produces approximately 40% of our own oil) U.K. $0.52 Europe $0.65 Australia $1.08 Canada $1.06 Keep in mind that this is what a liter would cost if you were here in California using these currencies after they were converted to U.S. dollars, not what each country would actually pay at home after taxes are removed (talk about buying power... no wonder so many people from overseas want to vacation in the U.S. The exchange rate is huge). By comparison, Venezuela $0.03 (produces 100% of their oil and the Venezuelan Government subsidizes the cost at a loss.) Iraq $0.38 (as subsidized by the U.S. Government so long as you don’t mind waiting in a mile long line and push your car to the station to get it.) Now, doesn’t that make everyone feel better?! So how does everyone else compare?