Did you know that gas prices by country all over the world range between $.06 cents to $10 dollars a gallon? All the prices below were found in a recent Car & Driver magazine were the countries price per gas in their currency was converted to dollar equivalents. I know what you’re thinking? What country has gas at .6 cents a gallon? Imagine if you lived in that country, would your pay be comparable to the US, and if so why is gas there so much less than gas in the U.S.
I wonder if all those gallons in reserve somewhere in Texas are serving what purpose? National security they say, but I keep hearing stories every so often that they are digging up new oil reserves all over the U.S. So why not release those reserves to bring down prices and then replenish the reserves with the new-found oil? Resources were extracted, time was spent moving them, and now they are just sitting there doing nothing. What if those resources go bad due to corrosion? I wonder what the real motive is behind storing so much of our nation’s resources.
The real truth is that the oil industry has a control over what we pay at the pump and they pay off the governments to keep them at a certain price. The reason I say that is because I have a good hunch that is the way the system is currently functioning. The countries with low prices like Venezuela and Libya are currently using their national resources and are not in negotiations with the Middle East oil companies, I assume. Maybe I am completely off and the countries with low prices are in cahoots with the Middle East. See below for a gas by country breakdown:
Gas Prices by Country:
Venezuela: .06 cents
Libya: .64
United Kingdom: 8.46
Bolivia: 2.05
Mexico: 3.24
Sweden: 8.75
China: 4.55
Turkey: 9.39
Dominican Republic: 7.50
Russia: 3.39
U.S.: 3.25
Ghana: 3.40
Saudi Arabia: .45
Ice Land: 8.01
Canada: 5.14
Egypt: 1.09
Now that you have seen the disparity in prices, how does that make you feel? In some countries the price they pay for gas accounts for about 1/3 to ½ of their pay, depending how often they commute to get to work? I am appalled at the difference in prices by countries, I mean 10 dollars a gallon for gas is ridiculous no matter how rich its citizens are. Filling up a car with 14 gallon capacity would cost $140 dollars every time you fill up. That’s just crazy.
Even though the U.S. has all those reserves we all should be content here in the U.S. We are still in the lower end of the price spectrum, unlike Canada that has a ton of oil reserves and they rather export it instead of reducing prices for their citizens. Now that I see the trend heading upwards I will do my best to save money on gas. By bike riding, walking or combining all errands into one trip we all can reduce the dependency on gas and help bring down prices at the pump.
Gas Article: Bloomberg
Comment to let us know how you feel about gas prices in your area or in general.
Rich Uncle EL
Pic provided by bloomberg.com
