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Gas prices, a round-the-world sampling
Oslo is not the place to fill up. Caracas on the other hand...


By Christian Zappone, CNNMoney.com staff writer
June 9, 2006: 3:34 PM EDT


NEW YORK (CNNMoney.com) - Americans have been feeling the gas crunch as never before. But how do our prices compare to the cost at the pump overseas where prices are often higher?

"The price of oil is pretty much the same around the world," said Dr. Frederic Murphy of Temple University's Fox School of Business. "The difference between gasoline prices is determined by a country's taxes or inefficient national petroleum monopoly."

Murphy points out that previous oil crunches were precipitated by a devalued U.S. dollar, which oil trades in, and from embargoes. But neither of those events occurred before this one. "This crisis is pure market forces," said Murphy.

Global gas prices
City Effective Date Price in USD
Regular/Gallon
Caracas Apr-06 $0.12
Kuwait Apr-06 $0.78
Riyadh Apr-06 $0.91
Buenos Aires May-06 $2.21
Mexico City May-06 $2.25
Beijing May-06 $2.40
Johannesburg May-06 $3.70
Sydney May-06 $3.76
Mumbai May-06 $4.13
Brasilia Apr-06 $4.60
Tokyo May-06 $4.93
Frankfurt May-06 $6.10
Rome May-06 $6.15
Brussels May-06 $6.33
London May-06 $6.36
Hong Kong May-06 $6.54
Oslo May-06 $6.99

Note: Self-service prices have been collected where available (usually in No. American, Europe and Japan)
Source: Associates for International Research, Inc.
 

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I'm no economist, and I'm sure there's gotta be a logical reason for it, but doesn't 6.87 usd in the difference between the lowest and highest worldwide price seem a little odd?

My first instinct is to scream bloodsucking [email protected]@rds, but I reserve judgement until I understand it better.

Cheers

BJ
 

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The company I work for has an Oil & Gas division, which has been doing extremely well, needless to say. The other day I learned that, on average, it costs them $2 per barrel to locate a well and $5 to $7 to drill the well, for a total of $7 to $9 expense for a barrel of oil currently selling for $72. :eek:

I was told not to expect much change in the next 6 or 12 months, but that the price will eventually come back down to around $45 per barrel, as the other $27 per barrel is nothing but terrorism risk. Even at $45 per barrel, the company is experiencing extremely high margins and profits.
 

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IntrepidBus IV said:
The company I work for has an Oil & Gas division, which has been doing extremely well, needless to say. The other day I learned that, on average, it costs them $2 per barrel to locate a well and $5 to $7 to drill the well, for a total of $7 to $9 expense for a barrel of oil currently selling for $72. :eek:
My brother is part owner of a company that does oil well construction, set up and maintenance. Its costs the exploration (well owner) companies more than that, but the profit margins are still very high.
 

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My grandpa bought his intrepid in 2000 - it cost him roughly about $14 to fill up...

I probably paid 40 some dollars at the pump last friday - (thats including the $5 car wash).

Hate second guessing any road trip because of gas prices...
 

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Mopar Dewd said:
My grandpa bought his intrepid in 2000 - it cost him roughly about $14 to fill up...
Um yeah, I don't think so. I bought my Trep back then in Iowa no less and at no time during that year was gas ever that cheap, assuming you are filling up a near empty tank.
 

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Um yeah, I don't think so. I bought my Trep back then in Iowa no less and at no time during that year was gas ever that cheap, assuming you are filling up a near empty tank.
It was .99 a gallon in 1998 so a $14 gallon fill up would be 14 and now at $3 it would be $42. The math works for me. Anyway it's all good punishment for voting for Republicans since 1980. China is getting richer, with limited world resources someone needs to get poorer. The republicans are making us poorer. Vote for them some more and see how it goes
 
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