Posted by: Pradeep | July 14, 2008

Petrol prices across countries

Who pays what for Petrol (gasoline) in different countries is always a subject of discussion when people meet from different places. Below is a table depicting recent prices in some of the countries…the price increase causes similar change to face color. Inspite of lowest fuel costs in Middle East the region poses one of the fastest running inflation drive due to factors like little inhouse production, to much dependancy on outside world for practically everything.

 Country   US$ per Imp. Gal. 2008 
 Qatar         1.14
 Saudi Arabia         1.27
 UAE         1.70
 China         2.79
 Bahrain         3.32
 Malaysia         3.77
 USA         4.15
 India         4.51
 Lebanon         4.60
 Czech Republic         5.27
 Japan         5.32
 Canada         5.55
 South Africa         5.64
 India         5.77
 Sri Lanka         6.64
 Australia         6.95
 Spain         7.04
 New Zealand         7.05
 Switzerland         7.52
 Republic of Ireland 
       7.75
 Sweden         8.23
 Germany         8.88
 UK       10.45
 Italy       10.86
 Denmark       10.95
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Responses

  1. Wow! cool post. Very interesting. It’s no wonder prices are rising so high today. there have been no new oil field discoveries in the past decade but the demand has risen exponencially. I just saw an interview of commodity guru Jim Rogers on
    UTVi and he said the same thing. According to him, the prices might go even higher!

  2. While I agree with you that new oil fields have not come on stream and consumptions have been growing in general due to economic boom; these are not the only factors affecting prices in todays parlance. There are speculative market forces which are helping the prices swing like anything on day-to-day basis. The abundance of wealth in oil rich countries is only making this exchange based (non-delivery) trade fuelling the rise.

    In all probability if we as consumer decide to slow down a bit, it shall ensure smoothing of these prices in short as well long run.

    I rarely believe in commodity gurus as they shift their versions with changing markets. While all have been predicting only rise in fuel prices for quite some time, they have been only helping fuel the rally as new small time investors also flock to the exchange and want to have a bite.


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