Gasoline/Petrol Prices in U.S. vs. Europe and U.K.

[Hydra26 10]

So, I was looking at gas prices here & in Europe; quite different prices.

Well, here it is: (All in total at bottom if you hate math)

 

Exchange rate of £1.00=$1.50 & €1.00=$1.14 on 1/22/15

 

First, let's look at America vs. Europe.  Where I live, gas/petrol currently runs ~$1.80 per U.S. gallon.

Let's convert to Pounds & Euros per litre:

Pounds first-

$1.80/£1.50 exchange= £1.20/U.S. Gallon

1.20/3.785 Liters per Gallon=~32 pence per litre

 

Now Euros-

$1.80/€1.14=~€1.579/U.S. Gallon

1.579/3.785=~€0.42 per liter of Gasoline/Petrol

 

Ok, now we will convert European prices to Dollars per U.S. Gallon:

 

U.K.-

Avg. £1.10 per litre/(2/3)=$1.65 per litre

1.65x3.785=$6.25 per Gallon!

 

Eurozone-

Avg. €1.16 per litre/$0.88=$1.32 per litre

1.32x3.785=~$4.99 per gallon!

 

To sum it all up:

 

 

FOR EUROPEANS TO READ:

American gas/petrol is:

 

£0.32 per litre

or

€0.42 per litre

 

FOR AMERICANS TO READ:

European gasoline averages:

 

In U.K.: $6.25 per gallon

In mainland Europe: $4.99 per gallon

 

 

Please correct me if my math was wrong.

[gazelutza 5]

In Romania(Yes it is in Europe...if u know Dracula....) we pay 1.11€ (1.29$) for 1 L (0.2642 gallon right?) of gasoline/gas/benzine or what do u want to name it...

[rhodance 37]

i believe the largest reason in prices differences is that the taxes in Europe on fuel are generally much higher (like 3-4x) then in the US.

 

http://en.wikipedia.org/wiki/Gasoline_and_diesel_usage_and_pricing

 

i love wikipedia. makes life so much easier.

[muffledsheep08 5]

The main reason for such high taxes, is because Europe has very little oil. In fact the only 'real' reserve we have is in the North Sea. However, in comparison to countries like Saudi Arabia and US, we have very little oil left (~5bill barrels, as opposed to thousands of billions, and hundreds of billions). This means that we import the majority of our boil from abroad.

P.S. the petroleum prices in the UK are at a 30 year low. Before Christmas, the average price per litre was roughly £1.60, or $240, or 2.14€!