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Where's The Cheapest (And Most Expensive) Gas In The World?

Tyler Durden's picture




 

We recently noted that crude oil prices vary markedly around the world due to multiple factors but the derivative that so many of us use - gasoline (or petrol as some might say) - varies even more so. From Hong Kong and Edinburgh (almost 2.5x NYC prices) to Kuala Lumpur and Jakarta (almost half the price of NYC), the spread is remarkable.

 

 

Crude prices around the world...

 

But Gas prices vary even more...

 

 

From Kuala Lumpur and Jakarta to Hong Kong and Edinburgh...

 

Source: Deutsche Bank

 

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Wed, 05/14/2014 - 19:39 | 4761071 Seasmoke
Seasmoke's picture

Are we really above $4 now ???

Wed, 05/14/2014 - 20:19 | 4761150 quintago
quintago's picture

why is the clearbrook so cheap?

Wed, 05/14/2014 - 20:23 | 4761162 sushi
sushi's picture

Hey, I live in one of the towns on that chart and I wish they would state where I can get gas at the price they quote. Their listed price is seriously below the current actual local market price which is edging toward $6 per gallon.

 

Wed, 05/14/2014 - 22:02 | 4761401 0b1knob
0b1knob's picture

Caracas gasoline is $.14 per liter, about $.56 per gallon.   Why is it not on the chart?

Thu, 05/15/2014 - 05:30 | 4761810 F-X
F-X's picture

I was wondering the same thing. Gas in Saudia Arabia and Iran is also much cheaper than the lowest one here, even after the big increase in Iran. Yet Deutch Bank left them off the list.

Thu, 05/15/2014 - 06:48 | 4761852 tonyw
tonyw's picture

it used to be the same price in Libya before the "spontaneous revolution"

 

I'm surprised they don't have Denmark, Sweden, Norway & Finland on that list.

Wed, 05/14/2014 - 20:47 | 4761221 philipat
philipat's picture

"Are we really above $4 now ???"

No, beause there are 3.8 Liters to a US Gallon.

Wed, 05/14/2014 - 23:14 | 4761515 Dick Buttkiss
Dick Buttkiss's picture

"Are we really above $4 now ???"

We have been for a long time now; we just don't pay for it at the pump — http://www.evworld.com/news.cfm?newsid=11520 (and this was eight years ago!) — with hell to pay when reality finally has its say in this and related matters — http://conservativesonfire.wordpress.com/2014/02/21/how-big-is-a-205-tri...

Wed, 05/14/2014 - 19:46 | 4761081 CrashisOptimistic
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FYI most of the increase in overall global oil consumption in recent years has been diesel.  

And note this is while US gasoline consumption has fallen.

Wed, 05/14/2014 - 20:29 | 4761175 sushi
sushi's picture

And continues to fall.

The US market is presently oversupplied but wait for the howls tht will occur if congress decides to remove the restrictions on US crude exports.

US pump prices will near double and Uncle Sam's % creamed off  the top will help buy The Gofer In Chief more billion dollar golf cart whirly gigs (love you Mr Banzai!).

Wed, 05/14/2014 - 19:48 | 4761088 franciscopendergrass
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I remember the days when a gallon of gasoline costs what a liter costs now.

Wed, 05/14/2014 - 20:31 | 4761186 sushi
sushi's picture

You're a young  pup. 

I remember whipping around the Southwest back when a gallon of gas was half what a liter costs now.

Unfortunately I don't remember much more than that. And what I do remember shouldn't be written here.

 

Wed, 05/14/2014 - 20:55 | 4761244 Bindar Dundat
Bindar Dundat's picture

My best deal was 19 cents a gallon when the Canadian dollar was worth $1.06 U.S.  Beat ya!~

Wed, 05/14/2014 - 21:34 | 4761341 XitSam
XitSam's picture

Beat me. I remember gas wars in Los Angeles at 23.9 per gallon

Wed, 05/14/2014 - 19:49 | 4761092 franciscopendergrass
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To solve the problem of rising gas prices, TESLA!  /sarc off

Wed, 05/14/2014 - 19:54 | 4761106 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Off topic

http://www.campaignforliberty.org/national-blog/regulaitons-strugling-am...

The Competitive Enterprise Institute recently released the 2014 version of Ten Thousand Commandments, its yearly report examining the growth of the regulatory state, and explaining how federal regulations affect the American people’s economic well-being. Not surprisingly, the study finds that the “regulatory tax” is just as damaging to the economy as other forms of taxation.

According to the study, Americans spent more than the Gross Domestic Products of Canada and Australia complying with regulations in 2013. The study finds that when the cost of the “regulatory tax” is combined with the federal budget the federal government controls 31% of the American economy. And that does not count the costs of taxes, spending, and regulations imposed by state and local governments.

The cost of the regulatory state does not hit all businesses equally. Regulatory compliance costs businesses with fewer than 20 employees  an average of $10,585 per employee, compared with the $7,755 per employee compliance cost paid by businesses with  500 or more employees. Small businesses also cannot afford legions of attorneys to keep track of new regulations. Most small businesses also cannot hire well-healed K Street lobbyists to advocate for new laws and regulations that benefit themselves and hurt their competitors. There is also no way to measure the number of businesses never created because of the costs of regulations.

...

That 31% number is probably low when you factor in things like government contractors and shadow control like the MSM.

Wed, 05/14/2014 - 19:55 | 4761107 centerline
centerline's picture

Hmmm... what was the threshold again for fuel prices driving recessionary prints?

Wed, 05/14/2014 - 19:57 | 4761111 u8mapwho
u8mapwho's picture

Just filled my gas guzzling SUV last night in Jakarta for less than 25 bucks. The price is actually cheaper than what is shown in the table. Government subsidies keep the price stable and low, even for the rich, while bankrupting the country...but hey it's an election year here so you wouldn't want to upset the masses by exposing them to real price increases!

Wed, 05/14/2014 - 19:57 | 4761112 Save_America1st
Save_America1st's picture

I always remember when gas prices got high during Bush.  The media excoriated Bush daily, nightly and never let it go.  Always stories from people in the cities who couldn't feed their children due to high gas prices, etc. etc.

Yet not one mention ever in 5 years about it under obama now that gas has doubled in cost from under 2/gallon to 4/gallon.

Not one single fucking word.  No stories.  No nightly man on the street interviews at gas stations with pissed off people crying that they can't feed themselves or their kids.

And I'm not even saying either guy can control this shit.  Obviously, the inflation is due to Trillions in fiat printing and they aren't there to control the money supply.  They don' give a shit about that.

But the dead silence from literally everyone about a 100% rise in gas costs in the last 5 years is asbolutely deafening.  Just goes to show you, like with every so-called "issue" in the media, the issue is never really the issue unless they want to use it as a weapon against whoever they want.  And this only proves they don't give a fuck about it while obama is stinkin' up the White House with the Wookie fartin' all over the apolstery. 

Wed, 05/14/2014 - 20:15 | 4761136 deflator
deflator's picture

 Just wondering how much charging the batteries of an S model raises the average utility bill. Also wondering since utilities are subsidized(spread out over all utility users) how much of the difference is socialized by those that can't afford $100k battery cars.

 

https://www.youtube.com/watch?v=HkvYvk8vxuw

Wed, 05/14/2014 - 20:17 | 4761147 brown_hornet
brown_hornet's picture

Com Ed raising rates June 1st

Wed, 05/14/2014 - 20:39 | 4761203 jpintx
jpintx's picture

Please note, the single largest (95%) part of the price differences for motor gasoline between countries and much of the time from state to state is....taxes.  The gasoline chart fails miserably by not telling the reader that fact.

Wed, 05/14/2014 - 20:58 | 4761255 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

More than that in the US for example there are at least 20 distinct blends of gasoline sold throughout the US and depending the time of year and market the prices will vary also because of the amount of refinement required to produce various blends.

Wed, 05/14/2014 - 21:44 | 4761358 kurt
kurt's picture

Oil company salve for your ravaged asshole, asshole!

Wed, 05/14/2014 - 23:40 | 4761572 young turk
young turk's picture

nice but inaccurate you left out ?stanbul at 2.50USD

 

Thu, 05/15/2014 - 01:18 | 4761685 benqbiggis
benqbiggis's picture

It does not make sense without consider local purchase power

Thu, 05/15/2014 - 05:46 | 4761814 Obamanism
Obamanism's picture

I agree with you. How do we determine "Local Purchase Power"? I usually use the "Big Mac" Index, this is to take the local weekly wage/salary and see how many "Big Macs" it buys (excluding fries and shake/drink). It is better than using the old Beer index as the big Mac index can include the Middle East and muslim countries.

Thu, 05/15/2014 - 05:22 | 4761807 Obamanism
Obamanism's picture

Interesting to see Edinburgh, Scotland, as a place for high gas prices. I thought Scotland had the profits from North Sea oil, some of the sweetest crude oil in the world.

It is like having 2nd highest gas prices for the US in Austin Tx.

The Scots must be getting royally screw in taxes  by the Government in London.

Luxemburg has the cheapest price in gas in Europe, their policy is to set the price as per the price of a barrel of oil on the Rotterdam (in Holland) market at 12:00 Tuesday. Then by a known formula update the price of a litre on each Friday 12:00. This sets the price of gas for the next week. Gas stations can set the price to the calculated value of a litre or below. This saves people money and stops the gas companies setting their own price.

Thu, 05/15/2014 - 06:25 | 4761838 MasterOfTheMult...
MasterOfTheMultiverse's picture

How about Norway? $2.64/liter = $10.56/gallon. http://www.fuel-prices-europe.info/. At least you get free healthcare.

Thu, 05/15/2014 - 08:16 | 4761980 Bloody Muppet
Bloody Muppet's picture

The price per liter where I live is 12c, the price where I'm from is $2.23 per liter.

Thu, 05/15/2014 - 08:48 | 4762061 Duude
Duude's picture

So much for everyone claiming Exxon is gouging them. 

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