Gas prices around the world

Originally posted by intrepid
Can someone tell me why America pays less for gas than nations it imports it from? I'm not getting that.

Because of the value of the American dollar.
because the value of the american dollor is going down thats why American gas prices are going up!

Actually, oil is paid in dollars, not in euros, yen, rubles or whatever. That mechanism does however explain why Europe has been hit less hard as the euro has risen significantly to the dollar.

hey guys..guess what in sunny ol' UK, gas or petrol as we call it is currently £4.00 a gallon wich is about $7.00usd.......it's criminal!!

Originally posted by intrepid
Can someone tell me why America pays less for gas than nations it imports it from? I'm not getting that.

I'll take a shot at this one, and you won't like the answer.

NAFTA.

It's that nifty little 'proportionality' thing again. Just like we can't reduce shipment of oil to the US without reducing domestic deliveries, we can't sell our oil cheaper in Canada than we do in the US.

And that is why gas used to be a lot cheaper in Canada many, many, many years ago (pre-NAFTA). You remember, before we devalued the currency....

Bloody hell, even the Mexicans were smart enough not to sign that darn clause. Muroney = bad, bad man.....

[edit on 15-8-2005 by Duzey]

Cheshire, UK US$6.42 per gallon.. ..

I like to walk so it aint that bad for me..

Originally posted by Harry55
$ 3.39 for regular in East Tennessee.

Still less then $3 in Middle Tennessee! Need to move west man. Its still going up though...

I dont drive to often anymore but we are at 2.70 in Milwaukee.