European Gasoline Prices Near All-Time High

Germany’s automobile association ADAC reports that this past weekend, drivers in that country faced gasoline prices of €1.41 per liter (US$7.10 per gallon). This is just €0.03 below the historic high reached after hurricane Katrina. The recent rise in the price of oil does not, in ADAC’s view, justify such increases in prices at the pump. A spokesperson suggested there was room for discounts, implying that refineries have increased their margins ahead of the summer driving season. In addition, chronic refinery capacity shortfall in the US means that country has to import large quantities of finished gasoline and blending products on the spot market in Rotterdam, mostly supplied by European refineries. For reference, the EIA estimates that roughly 1 in every 8 gallons consumed in the US is imported. Refinery capacity is expanding in the US, but more slowly than demand is growing. Thus, the problem is actually getting worse each year.
Read Article

SevorbeupstryIsBack - 5/23/2007 1:31:44 PM

+4 Boost

Driving in Europe is expensive, very expensive. High gasoline prices, many taxes, vignet, insurance and the retail is always higher in Europe.

hkaudi - 5/23/2007 3:56:17 PM

+2 Boost

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

List of places with highest gas prices...

The top two HK n UK r charging like 5.60ish per gallon ouch!

Rupert - 5/23/2007 7:08:52 PM

+2 Boost

In the UK it's about 95p (1 dollar 80!) per litre. Above 7 dollars per gallon basically.

jt716 - 5/23/2007 8:51:57 PM

+2 Boost

I think its the same in Singapore also! Cars are super expensive the cheapest cars like a yaris or some proton is $60,000 SGD (around $55,000 US) taxes are killer.

gsh23 - 5/24/2007 1:48:27 AM

+3 Boost

i thought it was 1.2 SGD to 1 USD. but yah, basically a corolla costs about $60,000USD or something ridiculous. but thats ok, i live in america. sucks to be in the UK! expensive gas, constant surveillance, and taxes up the ass haha.

ctsang - 5/24/2007 9:20:30 AM

-3 Boost

The higher the better. There are just too many vehicles on the roads.

njshift - 5/26/2007 11:14:32 AM

+1 Boost

Isn't this a site for automotive enthusiasts? Go back to hugatree.com

jt716 - 5/24/2007 3:26:20 PM

+1 Boost

Thats the main reason for the prices less emission etc. And for use of the excellent public transportation