The use and price of gasoline (or petrol ) is generated from factors such as crude oil prices, processing and distribution costs, local demand, local currency strength, local taxation, and the availability of local sources of gasoline (supply). Because fuel is traded worldwide, trade prices are similar. Prices paid by consumers largely reflect national pricing policies. Some areas, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize costs. Western countries have the highest usage rates per person. The largest consumer is the United States, which averages 368 million US gallons (1.46 gigaliters) per day in 2011.
Video Gasoline and diesel usage and pricing
Fuel Prices in the United States
ASHWINpetroleum 18.87 million barrels per day (3,000,000 m 3 /d) by 2017, 18.96 million barrels per day (3.014,000 m 3 /d) on 2018.ut 10.44 US gallon (39.5 Ã, L) per week. In March 2013, the average price for 87 octane gasoline was $ 3.22 per gallon US (85 Â ¢/L).
In 2008, a report by Cambridge Energy Research Associates stated that 2007 was the year of top gasoline use in the United States, and that energy prices recorded would cause a "sustained shift" in energy consumption practices. According to the report, in April fuel consumption has been lower than the previous year for the sixth consecutive month, suggesting 2008 will be the first year of US use declining in 17 years. Total year-over-year spikes driven in the US began to decline in 2006.
The average price per US gallon in 2012 (as of December 31, 2012) was $ 3,618 (96 ¢/L), the highest for a year. As of December 31, 2012, the average price of gasoline was $ 3.298/gal (87 Â ¢/L), with New York at $ 3.70/gal (98 Â ¢/L) for the highest in the US, and Colorado at $ 2.987/gal (79 Â ¢/L) for the lowest.
The finished gasoline motor is 44% of the total US consumption of petroleum products. This corresponds to 18.5 eksajoules per year. In 2012, crude oil costs accounted for 62% of the cost of a gallon of gasoline in the United States while refineries accounted for only 12%. Taxes and distribution/marketing accounted for 12% and 14%, respectively.
After Hurricane Katrina and Hurricane Rita, gas prices began to rise. They become high-level records. In the case of aggregate economies, the rise in crude oil prices significantly predicts growth in real gross domestic product (GDP), but natural gas price increases are not. After the damage from hurricanes ran gas prices. On August 30, the day after Katrina landings, spot market prices, which typically include premiums above the wellhead price, have jumped above $ 11 per gigajoule ($ 12 per million British thermal units), and on September 22, 2005, the day before the Landing Rita, spot price increased to $ 14/GJ ($ 15 per million BTU).
In the fifteen years before the 1973 oil crisis, gasoline prices in the US lagged far behind inflation.
Crude oil
Crude oil is the biggest contributing factor in terms of gasoline prices. This includes the resources needed for exploration, to remove them from the ground, and transport them. Between 2004 and 2008, there was an increase in fuel costs largely due to increased world demand for crude oil. Prices jump from $ 35 to $ 140 per barrel ($ 220 to $ 880/m 3 ), leading to an increase in the corresponding gas price. On the supply side, OPEC (or Organization of Petroleum Exporting Countries) has a lot to do with gasoline prices, both in the United States and around the world. Speculation of oil commodities may also affect the gasoline market.
Tax
Taxes are the next largest contributor to gasoline prices of around 12%. In the United States, state and federal taxes apply to gasoline. In addition, other taxes may be placed on the gas including applicable state sales tax, gross revenue tax, oil checking fees, underground storage tank fees and other environmental costs.
Marketing and distribution
Distribution and marketing make up the remaining 5%. The price of transporting crude oil to the refinery then the gasoline to the distribution point is forwarded to the consumer. In addition, the price to market the fuel brand continues.
Other factors
Apart from this damage, many other factors affect the price of gasoline. Extreme weather, war or natural disasters in areas where oil is produced can also raise the price of a gallon of gasoline. Legislation by some states for cleaner fuel also affects the price of gasoline in some areas.
The balance between supply and demand directly affects the price of gasoline. US gasoline consumption follows a seasonal pattern, where each year is more expensive during the summer when more people are driving. Long-term consumption trends have been increasing year by year since 1950, with dips around the introduction of the company's average fuel economy standards and the energy crisis of 1979, the early 1990s recession and the Gulf War, and the Great Depression.
Maps Gasoline and diesel usage and pricing
Use and price of gasoline in Europe
Most European countries have high fuel taxes. Prices are traditionally three to four times the price in the United States, for a price of 2000-2005 EUR1.00/liter (about US $ 1.42/L or $ 5.40/US gallon) while the US has a price of about $ 1.50/gal or $ 0 , 40/L. After a massive increase until the summer of 2008, the end of 2008 experienced a strong decline associated with a sharp economic downturn, with average fuel prices in the US at $ 1,613/gal (December 29, 2008). However, the price of fuel in Europe is still more than double the US price at $ 1.85/liter. Russia and some neighboring countries have much smaller taxes, with fuel prices similar to the US.
Competitive gasoline prices in the UK are led by supermarkets with their own forecourts. Generally every supermarket tends to match other prices; Major players are Asda, Tesco, Sainsbury and Morrisons. In recent years AA has criticized speculators as the main reason for fuel fluctuations in the UK.
Countries with subsidized gasoline
A number of countries subsidize the cost of gasoline/petrol and other petroleum products. Subsidies make people and goods transport cheaper, but reduce fuel efficiency. In some countries, soaring crude oil prices since 2003 have caused these subsidies to slash, boosting inflation from government debt to the general public, sometimes resulting in political unrest.
Fuel subsidies are common in oil-rich countries. Countries with subsidized fuel include the United States, Saudi Arabia, Iran, Egypt, Burma, Kuwait, Bahrain, Trinidad and Tobago, Brunei and Bolivia.
In February 2010, the Iranian government implemented an energy price reform in which energy subsidies should be abolished within five years; the most important price increase is in gasoline, as the price rises from 100 rials ($ 0.10 US) to 400 rials ($ 0.40 US) per liter, with a quota of 100 liters per month for private passenger cars (then reduced to 60 liters per month).
On 26 December 2010, the Bolivian government issued a decree removing subsidies that have set prices for gasoline and diesel fuel over the past seven years. On the grounds that illegal (smuggling) exports of gasoline and diesel to neighboring countries by individuals for personal gain are detrimental to the economy, Bolivia removes subsidies and raises gasoline prices by as much as 83%. After the strike widened, the Bolivian government canceled all planned price increases in the future.
Venezuela used to have the cheapest gasoline in the world for decades, but on 19 February 2016 president NicolÃÆ'¡s Maduro used the power of decrees to raise fuel prices by 6,000%. This is the first gasoline price hike in 20 years and he also set a sharp devaluation of the currency he said aimed at shoring up the failed state economy, hit hard by the fall in oil prices that make up 95% of foreign revenue. Prices at pumps in Venezuela jumped by 6.086% to 95 octane gasoline, from 0.097 bolivars to 6 bolivars.
Iran
The Iranian government introduced energy price reforms in February 2010. The reform was submitted by the government and approved with some changes by parliament. The main goal of this policy is to slow the trend of increasing energy consumption in Iran by removing energy subsidies. The plan includes electricity, natural gas, gasoline, and diesel fuel. According to the plan, all energy prices are up 20 percent each year. Price reform is very important in gasoline, as consumption has increased dramatically creating a huge burden on government budgets. Furthermore, to meet demand, Iran must import gasoline from other countries, which makes the country vulnerable to possible sanctions by the US and European countries. The gas price before the reform is $ 0.10 US per liter with a quota of 100 liters per month per passenger car. Reforms raise prices to $ 0.40 US per liter and then reduce the ration to 60 liters per month. Prices for excess quota consumption and imported cars are $ 0.70 US per liter. Energy price reforms include a cash rebate program through which everyone receives 455,000 reals ($ 15 US) per month from the government. The overall consumption of gasoline after the reform declined from about 65 million liters per day to about 54 million liters per day.
Nigeria
On January 1, 2012, the Nigerian government led by Goodluck president Ebele Jonathan, tried to stop subsidizing gasoline and deregulate the price of oil by announcing a new price for gasoline of USD 0.88/liter from the old subsidized price of USD 0.406/liter (LAGOS) which in distant areas of Lagos gasoline is valued at USD 1.25/liter. This led to the longest general strike (eight days), riot, Arab spring like protest and on January 16, 2012 the government surrendered by announcing a new price of USD 0.60/liter with a price tag of USD 2.0/liter in a distant area. In May 2016, Buhari's administration raised fuel prices again to NGN 145 per liter ($ 0.43 on the black market price for the currency).
Mexico
PEMEX, a government company in charge of selling oil in Mexico, is subsidized by the Mexican government. It serves to quell the inflationary pressures in Mexico. Mexico buys a lot of gasoline and diesel from the United States and sells it back at $ 98 per barrel. Many residents of the US border community cross the border to buy fuel in Mexico, enjoying cheaper fuel subsidies at the expense of Mexican taxpayers. This has led to frequent supply shortages at a number of gas stations along the border for Mexican drivers, especially truck drivers and buses using diesel.
In 2017, Mexico ended its oil industry subsidies, leading to price increases and widespread protests across the country.
Trinidad and Tobago
Trinidad and Tobago through its national energy agencies Petrotrin and Trinidad and Tobago National Petroleum Marketing Company Limited (NP) offer petroleum fuels at various subsidized prices to users in the country. Unleaded gasoline is offered in two classes - Ron 91 at US $ 0.43/Liter and Ron 95 at US $ 0.91/Liter. Diesel is offered at a price of US $ 0.24/liter making this fuel the cheapest in the world.
There are about 791,086 cars in the country by February 2015 and they consume 1.2 billion liters of liquid fuel each year. The Government of Trinidad and Tobago spends approximately US $ 173.2 million in subsidies for gasoline and diesel in the half-year period October 2014 - March 2015.
United States
The oil industry receives subsidies through the United States tax code, which includes Estimated Percentage Reduction, Domestic Industry Tax Deductions, Foreign Tax Credits, and Intangible Drilling Costs. It is estimated that this tax cut is worth $ 4 billion annually and is currently being debated by the government for reform. Despite such subsidies, the sale of fuel is also taxed at rates that far exceed the sales tax rate for other goods, to help pay for bridge and road repairs. Thus it is not clear whether the impact of tax on fuel is a clean subsidy or not.
Venezuela
Today, PDVSA, a Venezuelan state-owned company, spends US $ 1.7 billion in direct costs of gasoline imports, and subsidizes all gasoline sales in the internal Venezuelan market. The selling price of gasoline is US $ 0.015 per liter, with a fixed price in local currency that has been in force since 1997. Given the low gasoline prices, it is distributed free of charge to the gas station.
Vietnamese
The 92-RON domestic price, the most commonly used gasoline in Vietnam, was raised to 24,570? (US $ 1.16) per liter on July 17, 2013. Country
who previously subsidized gasoline
Indonesia
In March 2005, Indonesia increased petrol and diesel prices by 29%, causing widespread protests. Gasoline prices were raised from Rp (US $ 0.20) per liter to Rp 2,400 (US $ 0.25) per liter, while diesel fuel rose from Rp 1,650 (US $ 0.18) to Rp 2,100 (US $ 0.23). Prices rose again in October to Rp (US $ 0.48) per liter, for gasoline, while diesel fuel increased to Rp 4,300 (US $ 0.46), and kerosene, used for cooking, increased from Rp 700 (US $ 0.08) to Rp 2,000 (US) $ 0.22) per liter. The rise in prices came as oil prices threatened to increase government oil subsidies to $ 14 billion annually, and led to further protests.
With oil reaching more than US $ 145 per barrel, Indonesia increased its price on May 24, 2008 to Rp 6,000 (about US $ 0.65) per liter, and diesel fuel to Rp 5,500 (about US $ 0.60) per liter, while oil the land was raised to Rp 2,500 (about US $ 0.28), a move that caused widespread protests. In addition, it is recommended that private car owners, rich in Indonesian, will eventually be excluded from the full subsidy, with cheap fuel limited to public transport and motorcycles.
In June 2013, the government raised the price of low-octane gasoline by 44% to 6,500 rupiah ($ 0.66) per liter and diesel by 22% to 5,500 rupiah per liter to help cover the widening budget deficit. This move led to violent protests in some areas.
Furthermore, on November 18, 2014, a new government led by President Joko Widodo reallocated government subsidies for gasoline and diesel to national infrastructure, education and health budgets, raising subsidized gasoline and diesel prices by Rp 2,000 each, so the price of gasoline and solar to Rp 8,500 and Rp 7,500 respectively. This decision created inflation and protests across the archipelago.
People have been encouraged to switch to LPG for cooking, as Indonesia is the world's largest exporter, while its oil industry is declining, and is now a net importer.
Malaysia
Malaysia has been subsidizing gasoline since 1983 and has recently spent US $ 6.7 billion to subsidize gasoline, diesel and gas annually. On June 5, 2008 gasoline prices increased 40% to MYR2.70/liter (US $ 3.30 per gallon), from MYR1.92/liter (US $ 2.32 per gallon). Diesel prices rose MYR1.00/liter to MYR2.58 (US $ 3.04 per gallon), a 63% increase. It has been announced that price increases are planned to bring fuel prices in line with global market costs, suggesting that prices may reach US $ 3.80 per gallon in August. The Malaysian government also announced a MYR625 annual cash rebate to Malaysians with cars with engine capacity of 3,000 cc or less and a MYR200 tax rebate for cars with engine capacity of 3,000 cc and above to offset increased costs. The government introduced a temporary ban to buy fuel within 50 km of the state border, but the ban was suspended following a price hike on June 7, 2008 for gasoline by 41% (to MYR2.70 per liter) and for diesel by 63% (up to MYR2.58 ).
On June 22, 2008, the Malaysian government announced plans to install separate pumps at its border gas station to sell fuel to foreigners at market prices so that only local residents could benefit from subsidized gasoline. The new pump will target Singaporeans and Thais who travel day-trips across the border to fill their tanks with cheaper fuel there, even though Singapore-registered cars must have their tanks at least three quarters full before they are allowed to leave Singapore in any case. Gas stations within 50 km (31 mi) of the country's northern border with Thailand or the southern border with Singapore will be affected. Recently, the price of fuel has dropped to MYR 2.45 and has dropped for the second time. Further reductions were made on November 1, 2008. RON97 gasoline was reduced from MYR2.30 per liter (MYR8.7/USÃ, gal) to MYR2.15 liter, RON92 gasoline from MYR2.20 to MYR2.05 liter (MYR8.3/USÃ , Gal for MYR7.8/USÃ, gal), and diesel from MYR2.20 to MYR2.05 per liter The government revealed that it has suspended subsidies for gasoline as of November 1, 2008 when oil prices fell below US $ 65 per barrel. But subsidies are still being paid for diesel and natural gas.
On November 18, 2008, the Malaysian government made further reductions in the price of pumped gasoline prices by 7 percent to MYR2.00 ringgit per liter and diesel by 15 cents to MYR1.90 per liter. The government says that with current prices they make about 30 cents per liter in sales. Then again on December 3, the price of gasoline decreased further. Gasoline prices were reduced by 10 cents to MYR 1.90 per liter and for diesel, they were reduced by 10 cents to MYR 1.80 per liter. On December 16, 2008 RON97 gasoline prices were further reduced to MYR1.80, while RON92 sold for MYR1.70 per liter (MYR6.4/USC gal). The price of the diesel pump was also reduced to MYR1.70 per liter.
However, since September 1, 2009, the price for RON97 increased to MYR2.05, while RON92 has been discontinued and replaced with RON95, at MYR1.80. On July 16, 2010, gasoline prices across the board were raised by 5 cents, bringing RON95, RON97 and diesel prices to MYR1.85, MYR2.10 and MYR1.75 per liter. Since then, RON97 floats with a government-controlled revision that reflects global crude oil prices. As of August 1, 2010 only registered gasoline vehicles in Malaysia can purchase RON95 fuel; Foreign registered vehicles (mainly from Singapore and Thailand) by law can only purchase RON97 (or diesel) at Malaysian service stations.
On April 1, 2011, RON97 increased from MYR2.50 to MYR2.70. In May 2011, RON97 increased again to MYR2.90, another record high for RON97 in Malaysia. A drop of MYR0.10 in June 2011 led to MYR2.80 per liter, the first price drop since RON97 hovered at market prices.
On September 3, 2013, the price for RON 95 increased from MYR1.90 to MYR2.10, RON97 from MYR2.70 to MYR2.85, and solar from MYR1.80 to MYR2.00. This is increasing on October 2, 2014, where RON 95 will cost MYR2.30 and diesel will cost MYR2.20 per liter. Starting December 1, 2014, Malaysia removes fuel subsidies and starts using a managed float system, to control the country's large current account deficit.
Worldwide gasoline prices
View the fuel tax for tax information by country.
Deutsche Gesellschaft fÃÆ'¼r Internationale Zusammenarbeit (German Agency for International Cooperation) (GIZ) has published the world's list of gasoline prices by the state annually since 1991. Results for 2010/2011 can be seen in this document. Two weeks of updates for European countries can be consulted on the Touring Club website of Switzerland.
Current prices for gasoline (unleaded) are available at http://www.globalpetrolprices.com/gasoline_prices/
Protest
India
Widespread protests on rising gasoline prices have been frequent in the last 4-5 years. On May 24, 2012, gasoline prices were raised by INR7.50, generating prices in the range of INR73 - 82 across the country. The opposition has declared a bandholder on May 31, 2012 across the country to protest the price increase, which evoked mixed responses, amidst stoning incidents, arson and roadblocks in parts of the country.
See also
- Car cost
References
- Gasoline Prices in India http://www.publicinfopath.com/petrolprice/
- Gasoline Prices in Malaysia https://www.petrolpricemalaysia.my/
External links
United States
- Who's in the Oil Futures Market and How Did It Change ?, by Rice University's Baker Institute for Public Policy
- FAQ on gas prices at FuelEconomy.gov by the US Department of Energy
- Factors affecting gas prices (US Department of Energy)
- Understanding Gasoline Prices - a 2005 report from the United States Government Accountability Office
- AAA Daily F gauge Statement
- Report of EIA Gasoline and Diesel Fuel AS US Energy Information Administration
- Current Gas Price in US
- The latest historical gas price in the US at GasBuddy.com
- NACS Fuel Retail Report 2012
- Collective List of Gas Usage Per Seconds Since 1995
International
- Statistics of the EU's official European Market Observatory on Gasoline and Solar prices
- Global Fuel Price Comparison The price of UK gas compared to other countries indicates contributing factors.
- Worldwide Gas Prices Worldwide Conductive Gas Price Conde Nast Portfolio
- GTZ International Fuel Price 2009
- Brazilian Gasoline Prices
- EU Fuel Prices Fuel prices in EU countries. Fuel prices with and without taxes & amp; task.
- Current Gas Prices Germany, EU, International
- Fuel Price
Source of the article : Wikipedia
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