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European Gasoline Hits All Time Record Of $8.632 Per Gallon
And Americans are complaining at an average gas price in the mid $3 range. In Europe, gasoline has just hit an all time record of $8.632 per gallon! As HLN.be reports: "tomorrow the price of gas will reach an absolute record. Petrol 95 can hit €1.624 per litre. This breaks the 2008 record of €1.61 per liter." Translated into American this means that a gallon of gas in Europe is now an unprecedented $8.632 per gallon, which will certainly result in Europe literally and metaphorically grinding to a halt.
More from HLN.be:
The newest price increase, with 3.3 eurocent by litre, is the consequence of the increase of the quotations of the oil products on the international markets.
The maximum price of petrol 98 will also increase tomorrow, up to 1.637 euro by litre (+2,2 eurocent by litre).
Also fuel becomes more expensive. For orders of more than 2,000 litres the consumer pays up to 0.833 euro by litre as from morning (+2,5 eurocent by litre). That is record still no: in July 2008 mazout up to 0.954 euro by litre cost at orders of at least 2,000 litres.
The maximum price of diesel today already rose to 1.443 euro by litre. The price of diesel is now near the record of 1.469 euro by litre from May 2008.
Worried about the impact of oil price on the US? Be far more worried with what happens to Europe as the continent grinds to a halt.
h/t Jonas
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We drive more fuel efficient cars, so the pain at the pump isn't as bad as you'd think for car drivers.
The real impact of high diesel prices will be on the haulage cost component of consumer goods and food.
Continent grinds to a halt? Europe is less dependent on gasoline than the US. European's have been paying $7+ per gallon for aeons already.
i ll pay 8 dollars a gal for free health care.they dont tell you that
Do you all have amnesia? Why in Gods name is not the fact that the European governments tax (steal) about $5.00 a gallon in taxes from the Europeans? That is the real story IMHO.
Is (by European standards) cheap gas - why the US has a debt of > $14 trillion?
Either we're over-taxed (UK) or the Yankee-doodles are in a (soon to be fantasy) subsidy world. Never sure which is right...
Anyway - hands across the Atlantic and all that - we're all being royally f*cked by vested interests.
The Europeans have a great public transport system. Trucks and those north EU'ers who want to drive to the Med Coast for sun and tan may be affected too.
$9.68 per gallon on Santorini this morning.
Fawk! Gunna pull out the donkey soon
Don't trains and buses run on oil too?
Most European trains are electric....
Most drive Diesel in belgium... And there are a shitload of company cars so most dont feel it. Plus the expensive gas makes us buy hyperfuelefficient cars. The difference is the taxes, big win for government.