Forum Thread

Price of Gasoline

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  • Democrat
    Meridian, MS
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    I just saw a piece on Diane Sawyer's newscast, and they were talking about the death of the Venezuelan leader. They mentioned that the price of gas in this oil-rich country was an unbelievable $0.02 per gallon!!!! Maybe the U.S. can buy GASOLINE instead of oil from them and save Americans a pile of cash.
  • Are you sure you want to delete this post?
    We price gas on the open market. Thus free oil would not reduce pump price of gas one penny. Sad but true.
  • Liberal Democrat
    Colorado Springs, CO
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    One of the problems that TV journalists have is converting both foreign currencies to dollars and liters to US gallons. When I lived in Venezuela (1999 - 2002) the price of gasoline was around $0.14 per US gallon. That seems to be a little less than the $0.18 per US gallon it was last year according to NBC News:

    The countries with the cheapest gasoline

    Much of the country still burned leaded gasoline when I was there, which was cheaper than unleaded. Like the USA there is also a premium on the higher octane. Furthermore, there is also an official exchange rate and a black market exchange rate with currency export controls. And on top of that the inflation rate is running near 30 percent.

    I don't know where they could have picked up the ridiculously low 2 cents per gallon even using the extremes on exchange rates, gas octane, and liters versus gallons conversion. However, I'm pretty sure that gasoline is not 2 cents per gallon. Diane Sawyer should make a correction.

    Nevertheless, even at $0.18 per US gallon, every gallon sold is sold at a loss if one factors in the world market price of crude oil and the refining, transportation and marketing costs. When Chavez tried to raise the price of gasoline in 1989 riots ensued and hundreds of people died.
  • Independent
    Plymouth, WI
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    If it was about saving the majority money, we would get even more oil from Mexico and Canada, our number 1 and 2 foreign oil suppliers, but it is not about saving the majority money, it is about making the system more at the majority's expense. This is why we still buy oil from the East, from the same people pointing a gun at us, we are buying their bullets by buying their oil, not you or I, but the money system that has billions invested in overseas oil wells and billion dollar super tankers. Do you think the system is going to let their billion dollar super tanker sit in the dock with better mileage for us and more oil from Canada and Mexico, hell no? It is not up to the majority or our governemnt where the oil system gets it's oil, it is up to them, and it is up to them what our government does not say when they buy the bullets for America's greatest enemy! That is one bullet ban the majority should insist on, but we don't insist on anything now a days, we are too busy watching the show and eating the system's bread. I am full and I've seen enough, when the rest of the majroity is and has too, then we will ALL have a great American future.
  • Democrat
    Meridian, MS
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    Hey Schmidt, as an update to my first posting on this thread, I checked out this website:

    Here are some of their data, including the highest and lowest:

    Norway $10.12
    Denmark $8.20
    Hong Kong $8.61
    United Kingdom $7.87
    France $7.79
    Japan $7.15
    Brazil $6.92
    Australia $6.41
    China $4.89
    Russia $3.75
    United States $3.75
    Iran $2.80
    Egypt $1.73
    Kuwait $0.89
    Saudi Arabia $0.61
    Venezuela $0.09
  • Whittier, CT
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    The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide the trade prices are similar, the price paid by consumers largely reflects national pricing policy: some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.

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