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Originally Posted by BadNick
conversion factors FTW! ...$1.29 per liter = $4.88 per gallon
Just yesterday I got a kick out of what one of the Arab oil ministers said about the "high price" of gas in the U.S. Basically he said "what are you complaining about?"...compared to the price of gas in Europe and many other parts of the world, the current price of gas in the U.S. is still probably not high enough to give adequate incentive for development of alternatives...though it seems we are creeping in that direction. Gas is still relatively cheap in countries that subsidize the price of gasoline...like Mexico, hence the growing number of people from the bordering U.S. driving down there to get gas and the tax on the Mexican people is paying for those lower prices.
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Ya, well Mr. Saudi Oil Minister can lube his butt with the black gold and shove it. Who care's what the relative prices are? it's always been more expensive in Europe, for some inexplicable reason. For everything. I remember when a can of Coke was $1 in Germany, while it was 50 cents here.
What's disconcerting is the speed at which the cost of gas has increased, and the resistance to it going down. For no apparent reason, there is an upward pressure on price, and Mr. Oil Minister blames it on speculation. He's probably right.
*** I bought discount gas this morning at $1.30/litre (87 octane). It's going for 1.33/litre everywhere. (converts to: $4.92 & $5.03 per US Gallon)