caracas, venezuela - gas is 12 cents a gallon

[spanone]

http://money.cnn.com/pf/features/lists/global_gasprices/

[crickets]

1. That list is an eye-opener. -nt

[spanone]

3. it really is very interesting

[Hannah Bell]

2. bump.

[spanone]

4. here's the list

Nation City Price in USD Regular/Gallon
Netherlands Amsterdam $6.48
Norway Oslo $6.27
Italy Milan $5.96
Denmark Copenhagen $5.93
Belgium Brussels $5.91
Sweden Stockholm $5.80
United Kingdom London $5.79
Germany Frankfurt $5.57
France Paris $5.54
Portugal Lisbon $5.35
Hungary Budapest $4.94
Luxembourg $4.82
Croatia Zagreb $4.81
Ireland Dublin $4.78
Switzerland Geneva $4.74
Spain Madrid $4.55
Japan Tokyo $4.24
Czech Republic Prague $4.19
Romania Bucharest $4.09
Andorra $4.08
Estonia Tallinn $3.62
Bulgaria Sofia $3.52
Brazil Brasilia $3.12
Cuba Havana $3.03
Taiwan Taipei $2.84
Lebanon Beirut $2.63
South Africa Johannesburg $2.62
Nicaragua Managua $2.61
Panama Panama City $2.19
Russia Moscow $2.10
Puerto Rico San Juan $1.74
Saudi Arabia Riyadh $0.91
Kuwait Kuwait City $0.78
Egypt Cairo $0.65
Nigeria Lagos $0.38
Venezuela Caracas $0.12
http://money.cnn.com/pf/features/lists/global_gasprices/

[dysfunctional press]

5. where does puerto rico get it's oil and/or gasoline?

do they have a sweetheart deal with venezuela? or are they somehow subsidized by the u.s. consumers?

[mmonk]

12. Boy that idea of a cartel in 1972 and pegging the dollar

to the price of oil was genius wasn't it? All because we didn't want to pay back our debtors in gold.

[BREMPRO]

16. your chart appears outdated...

http://en.wikipedia.org/wiki/Gasoline_usage_and_pricing

$10.11/gal in the Netherlands
$4.03/gal in the US
$.19c/gal in Venezuela

WTF is going on with these market?

[reggie the dog]

19. Ithe prices are from 2005

But I can tell you that here in France we are paying 1 euro 42 per liter. that makes 5 EURO 68 cents per gallon. Translate this to dollars at today's exchange rate (1.57 dollars per Euro) and you get 8.92 US dollars per gallon.

quote from the page you linked "All prices updated March, 2005."

three year old prices.

[PermanentRevolution]

6. I must point out...

"All prices updated March, 2005."

I'm sure that, proportionally, they're relatively the same still. But don't use today's US gas prices as a basis for comparison. Back in 2005, weren't we still under $3/gal?

[spanone]

7. here - getting closer

2007



http://europe.theoildrum.com/node/2653

[PermanentRevolution]

9. Thanks!

I like graphs better than tables, too!

:thumbsup:

[crickets]

8. Good point

Here's a list dated 2008. Venezuela's price has gone up to 14 cents. Gas prices in some of the other countries listed has gone down.

http://money.cnn.com/pf/features/lists/global_gasprices/price.html

[Redstone]

10. Another bullshit list, if you'll pardon me for pointing out

the reality of the situation:

EVERY country at the bottom of the list (the ones with cheap gasoline prices) SUBSIDIZES the cost of gasoline.

Don't get fooled, folks.

Redstone

[crickets]

11. Of course

Many of those countries have the benefit of producing all or the majority of their own petroleum products and also may have nationalized their oil reserves as well. For whatever reasons, the prices in those countries are phenomenally lower and seem to be more stable over time. I don't know that the US has had 0.14/gal gas in my lifetime; the lowest I can recall is 0.36 (dating myself here). We're never going to have gas prices as low as major oil producing countries. That's not the point. Regardless of subsidies, it isn't just the higher cost of export or supply and demand that is driving up gas prices in the US and elsewhere; it's market speculation and commodities trading. We are being squeezed by Wall Street. How nice it is, at least in terms of price change over time, for the countries who don't have to put up with that BS.

[GreenTea]

13. Bullshit! It's better than subsiding the oil companies as the republicans do with our tax dollars!!!

I'd much rather see sudsidising (gas) for the people, not for the corporations with their tax breaks "incentives", tax cuts and hiding their money in off-shore accounts....It's our tax dollars, the workers, it should benefit us not the corporations.

Corporate welfare, that you obviously believe in!

[Jack_DeLeon]

15. I disagree...

Not that we should be subsidizing the corporations, but we definitely should not be subsidizing gas. If we did it would run out all that much faster and it be much worse when we finally run out cause people would still be driving SUVs and the like instead of conserving like we are now due to high prices.

I think the free market is the best, yeah it sucks that the price of gas is high now but its alteast getting people thinking about alternatives and changing their lifestyles. Adapt or die, we need to prepare for a world without enough oil to fuel our civilization as we know it now.

[eallen]

22. And in fact, oil-exporting nations subsidizing internal consumption drives up global prices.

Those nations then have less to export. Part of the supply side problem isn't just that supply has grown so slowly, but that consumption in oil exporting nations has risen quickly, so that the effective supply on the global market has shrunk.

:hippie:

[Angleae]

14. This list is 3 years old

a tad out of date. ("All prices updated March, 2005.")

[Recursion]

17. Why isn't Citgo gas that cheap here?

Hey, I'd even give them a buck per gallon add-on for transportation, another 50 cents for profit, and another 25 cents to pay the rent on that huge sign by Fenway.

[Bucky]

21. Supply and demand. Eventually gasoline prices here will start to come down...

... just as soon as we all finish switching back over to horses.

[bean fidhleir]

25. I don't think CitGo has owned that sign for ...oh, 20 years or so

I remember when CitGo was going to tear it down because they didn't want it anymore. Everyone flipped a fit and the city (I think it was the city) decided to adopt it with the company's blessing.

[Honeycombe8]

18. What is 12 cents, as a percentage of the people's income, I wonder? That's what's important.

If a person makes $50 a month, or a year...then 12 cents is pretty damn high.

[whopis01]

20. You actually think people in Venezuela only make $50/month or per year?

There is probably a factor of 5.5 to 6.5 difference between the US and Venezuela. But even at the upper end, their gas is still less than the equivalent of $1.00

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29_per_capita

[Honeycombe8]

23. Wikepedia is not a valid fact source. Yes, I think S. American countries have lower wages.

If you don't, you need to read something other than Wikepedia.

For those countries whose cost of gasoline is low, and that includes a lot of countries, that is because the government subsidizes the cost.

[Freddie Stubbs]

24. Yet they have 31% inflation there:

Venezuelan Inflation Accelerates to Five-Year High (Update2)

By Daniel Cancel and Matthew Walter

June 9 (Bloomberg) -- Venezuelan inflation accelerated to the fastest in almost five years, exceeding economists' estimates, after looser government price controls triggered a rise in costs for chicken and other food.

Consumer prices rose 31.4 percent in May from a year earlier, according to the benchmark index of prices in Caracas published by the central bank. The increase exceeded the 29.3 percent median forecast from 11 analysts surveyed by Bloomberg.

Venezuela's inflation is the fastest in Latin America and may accelerate further this year as the government taps revenue from oil sales to increase social spending before November state and city elections. Economic policies to curb inflation such as increased bond sales to local investors and higher interest rates are proving insufficient, said Boris Segura, an economist at Morgan Stanley in New York.

``This is worrisome,'' he said. ``We're in the midst of a macroeconomic adjustment by the government which hasn't been able to bring down inflation.''

more: http://www.bloomberg.com/apps/news?pid=20601086&sid=aNflEEvxNj8I&refer=latin_america

[Demonaut]

26. prices are from march 2005

any updates?