Petrol 3p a litre.

[groucho]

In Caracas, crikey!!!

Here

[The Moose]

I bought 150 litres for £20 (including a massive tip, proportionally) of diesel a couple of years back in Libya.

Rather bizarre feeling to be honest.

Cheers

The Moose

[Hairy Cornflake]

20 litres for 10 Reyals (£1.70) in Dammam last week.

[Pentoman]

Likely to be subsidised by their government. Not sure why they do this. Perhaps a good way to stay in power? Perhaps a good way to say "look our country is better than the West - look how expensive it is for them just to drive to work." Not sure.

[marshalla]

Pentoman said:

Likely to be subsidised by their government. Not sure why they do this. Perhaps a good way to stay in power? Perhaps a good way to say "look our country is better than the West - look how expensive it is for them just to drive to work." Not sure.

The prices are pretty meaningless without knowing average wage and hence a way to convert to hours of work per litre.

[Frankeh]

I don't understand. I just don't understand it at all.

[louiebaby]

marshalla said:

The prices are pretty meaningless without knowing average wage and hence a way to convert to hours of work per litre.

A comparison to, for instance, the cost of a Mars Bar or Big Mac is useful too. Something the common man could be expected to easily afford that is available in either country...

[Frankeh]

louiebaby said:

A comparison to, for instance, the cost of a Mars Bar or Big Mac is useful too. Something the common man could be expected to easily afford that is available in either country...

Takes 126 minutes to earn a big mac in Caracas. For comparison it takes 10 minutes in Tokyo.

[jake15919]

I think having some of the largest oil reserves in the world may have an impact on price.

[zcacogp]

jake15919 said:

I think having some of the largest oil reserves in the world may have an impact on price.

That, and not having a government that taxes fuel 'till it hurts, and then taxes it some more.


Oli.

[5lab]

louiebaby said:

A comparison to, for instance, the cost of a Mars Bar or Big Mac is useful too. Something the common man could be expected to easily afford that is available in either country...

mars bar is probably a bad example, in nearly every country i've been to (including a load of developing\3rd world places), chocolate bars are significantly more expensive than here in the UK - typically around a quid each.

[Dog Star]

The Moose said:

I bought 150 litres for £20 (including a massive tip, proportionally) of diesel a couple of years back in Libya.

The trouble is that having this kind of fuel abundance prices is an open invitation for the US to cut you from the herd, kick-off with you for some spurious reason, invade you and nick it all.

[koolchris99]

Mars bar in Oman are more expansive than uk, and they taste st. Like wise a big mac is about the same,

Petrol is fk all though, 115baiza a litre.

[Chrisw666]

5lab said:

mars bar is probably a bad example, in nearly every country i've been to (including a load of developing\3rd world places), chocolate bars are significantly more expensive than here in the UK - typically around a quid each.

So why don't divert taxes from fuel to stuff that make people fat, they can claim it is tackling an obesity problem and make everyone feel better about fuel prices. This will make them happier, more likely to spend money on stuff including sweets that they eat when they are on happy days out in the car, win win.

[Lefty]

3p/litre x 159 = £5 per barrel.

[SSBB]

Lefty said:

3p/litre x 159 = £5 per barrel.

It's heavily subsidised.

[Pannywagon]

SSBB said:

It's heavily subsidised.

But when they refine oil, you don't just get petrol from it. There's all sorts in there.

What's in a Barrel of Oil?

Edited by Pannywagon on Wednesday 11th May 10:26

[chris7676]

I think they do it completely opposite to most other countries - they subsidy fuel. So they tax others to pay for your petrol. While in Europe they tax drivers to pay for others. Bad either way.

[markCSC]

Lefty said:

3p/litre x 159 = £5 per barrel.

If your thinking about the prcie of a barrel of crude, only about 40% of a barrel goes to making petrol the rest is used for other products. I'm not sure how much money you can make wholesale from one barrel though.

[edit- must type faster]

[SSBB]

Pannywagon said:

But when they refine oil, you don't just get petrol from it. There's all sorts in there.

What's in a Barrel of Oil?

Edited by Pannywagon on Wednesday 11th May 10:26

Even accouting for the other fractions, you aren't recouping refining, distribution and marketing costs at 3p a litre.