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Posted (edited)

Gee, I feel like a fool. All day yesterday, we kept hearing dire media reports that the price of gas would double today from its current high level of $1.03CDN per litre. In fact, a couple of rip-off gas stations jacked the price up near $2.00. Some people just can't resist taking advantage of others. :tdown Anyway there were long line-ups at the stations last night. At 10 PM I waited 20 minutes to fill my car at $1.03, then went home, took my wife's car and waited another 20 minutes to fill it. Finally got home for good at 11 PM.

Guess what the price of gas is this morning? $1.03 per litre. No line-ups. Sometimes the media does us a disservice. :tdown

Edited by John Tapscott
  • 5 months later...
  • 3 months later...
Posted

$3.15 a gallon for regular 87 octane in Lansing today. On my way to buy diapers, I passed two Citgos. One had the $3.15 price, the other had $2.94. I should've stopped, but I figured I read the sign wrong on the first one.

Nope. Now everything in town is $3.15 a gallon. How does gas go up 20 cents in less than a few hours? This is insane.

  • 3 months later...
  • 2 months later...
Posted

On AAJ a couple of months ago, we did a bit of comparative work on the price of petrol here and in the US. Here's the result.

Tritone sub

Originally Posted by the magnificent goldberg

I've always thought that Americans had it easy in terms of petrol taxes. In my locality, the cheapest petrol (gas) is 84p per litre, of which just over 50p is excise duty. Another 12p is Value Added Tax. So the total tax take out of a litre of petrol is 62p. The actual price of petrol is 22p; the tax rate is 282%.

VAT is 17%. See here for excise rates

http://customs.hmrc.gov.uk/channelsP...E_PROD1_024961

Turning that into $ (1 pound = $1.95) per (US) gallon, (3.7854 litres = 1 gall)

84p = $1.64 per litre = $6.21 per US gall

62p = $1.21 per litre = $4.58 per US gall

22p = $0.43 per litre = $1.63 per US gall

So, how much are you paying for petrol? And how much of that is tax? And how much are people proposing it should rise to?

MG

Yes, you're right MG, we do have it much easier in terms of gas tax. Thanks for providing those numbers. So if you pay $4.58 per gallon just in tax that's more than 10 times what we pay! It varies a little from state to state, but not much. Here in Maryland I pay $0.42 per gallon. Here's a chart with 2002 data (don't think it's changed much since then):

http://www.energy.ca.gov/gasoline/st...tate_2002.html

The price of gas around here right now is about $2.25 per gallon. But if you think we have it cheap wait til you hear how much they're paying in Venezuela!

Somewhere or other, I've seen that Americans use three times as much petrol as Britons. But the population density of the UK is over 7 times greater than that of the US, so the average distance of all journeys in America should be seven times greater than in the UK and you should be using 7 times as much petrol as us. Well, perhaps not, but it's clear to me that the price of petrol here isn't doing much to depress demand.

MG

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