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Fuel prices have skyrocketed in the past few months, on a worldwide scale. Here in Greece, the average price per liter for 95 Unleaded petrol is €1.75, while for diesel it's approximately €1.45. A huge surge is also expected, in the soon-to-be launched season of heating gas oil, which is expected to start within the next few weeks, with a rumored price of at least €1.10/liter.

I've read that this spike in prices is triggered by an increase in price per barrel, due to oil companies worrying about the pandemic, while their production is limited compared to the higher demand. Have you heard anything relative? What's causing this surge in prices, could it be a one-off thing which lasts a couple of months at most?

What's the average cost of petrol/diesel in your country? Share your thoughts on what exactly is causing this crisis, which is also spiking electricity costs up, increasing the budget for the average household.

Sources:
https://www.bruegel.org/2021/09/is-europes-gas-and-electricity-price-surge-a-one-off/
https://www.bbc.com/news/business-58718148

And years of neglect, no more investing in reserves a complete government aversion towards anything that is related to fossil fuel finally comes and presents the bill. Keystone was bad, remember?

Europe is paying the price for it too, no more drilling, let's go all green, but when the wind stops (https://cphpost.dk/?p=128165) Denmark does also,   no more water in Norway dams (https://www.independent.co.uk/climate-change/news/water-hydroelectric-norway-energy-crisis-b1931946.html) and we're going to get power from what? The solar panels in Germany that get 4 hours of sun a day and the coal and nuclear and gas power plants that are shut own?

We're finally here, right before total green power and renewable dominance, where everyone will ditch their car and cycle in the morning to "work" in the woods gathering tree barks and mushrooms. Of course, you will need a special permit for this cause it will also affect the environment, so only 5 square centimeters of treebark per family member per day.

What could anyone expect from such a situation:
https://www.nytimes.com/2021/10/04/business/energy-environment/oil-and-gas-prices-clean-energy.html


Yeah, it makes perfect logic, you destroy the supply and then you go on all fours and beg others to give you oil. What could go wrong???

And if you think this is bad, wait for the consequences, wait till the cost will reflect in the agriculture products, in the transport, in everything else, then the real pain will start, better prepare which room you want to heat during winter.
Oh, and regular here is still €1.4 diesel a bit cheaper at 1.37.

The so-called renewable energy sources are not enough to depend on yet, I do understand that the fossil fuel usage should be reduced, but I don't believe that green energy sources are to depend on currently. We're a long way till that happens.

I'm hoping that it's a one off thing and prices fall to normal levels soon, fueling up the car or buying heating gas oil has become unbearable.

I think you're right, but it's amazing to me that in 2021 with all the technology we have at our disposal that we're still very much dependent on oil drilling, refining, and gasoline consumption.  Solar technology is definitely available; I just think it's unaffordable for most folks, at least for the initial outlay for solar panels and whatever else is needed to power an average home.  I would imagine that once the price comes down for those things (and people wise up to the fact that solar is cheaper and better for the environment), adoption will increase.

I also get the feeling that car manufacturers and big oil companies have hindered the adoption of alternative energy sources for a long time now, though backdoor lobbying.  If you asked me for evidence of that, I couldn't provide it, but those two industries alone have so much invested in keeping people dependent on oil that it's hard to believe that their pool of enormous resources hasn't gone into buying off politicians as well as influencing public opinion.

Viva la Tesla!

I also read that the rise in fuel prices is coming from the producers being unwilling to increase their production output. For oil producers in the middle east it would be easy to just ramp up production but of course they are not interested. We shouldn't forget that fuel was very cheap over the last 10 years and especially with the pandemic we saw a big drop in demand. The lockdown prevented people from travelling and industrial production also dropped because companies were laying off workers. In the end the oil companies now are very happy with higher prices and will likely not trying to produce more to lower them any time soon. Its all about making more money for them.

Europe wants to reduce emissions, and at the same time are asking Russia for more natural gas :D

Super 95 gasoline has reached €2 per liter here. Mostly because of taxes of course.

It's not nearly as available as fossil fuel. This is reality (note that this doesn't even include non-electric energy):
https://loyce.club/other/electricity.png
As an individual, you can just buy solar panels, fill your rooftop, and call yourself all green. But as a continent, ramping up the production (in China, Lol) to the required volume takes a few decades.

It's always troubled me that the green folks wanting to eliminate fossil fuels will turn their head away from nuclear energy, pretending that the fate of Chernobyl is emblematic of all nuclear energy plants. OPEC has the monopoly on oil and the R&D into green forms of energy aren't happening fast enough, especially when you eliminate nuclear as an option.

It’s inflation, going to hyperinflation. There’s simply too much money in the system that’s sending prices UP. Plus the price of crude is oil surging too, https://www.investing.com/commodities/brent-oil

Another graph for everyone to check is the average wage and salary of workers, https://fred.stlouisfed.org/series/LES1252881600Q

It is surging, with the largest surge during 2020 because there’s simply too much money printed, and it might not stop yet. Hedge, HODL Bitcoin.

Tell me - and you are not worried that everything was fine on the market yesterday, but then, someone was not given what he wanted ... And he decided to show everyone who is the boss and who needs to be obeyed. He now has an almost monopoly influence on the European market, has influence on some key EU politicians, and wants to have total influence on the EU hydrocarbon market. What for ? There are many goals - to fill his impoverished pocket, to show that he can do what he wants and his laws and rules are not interested, that he will only act as he wants. And if without beautiful descriptions, this is called economic terrorism. And the only question is whether cowardice will triumph and whether politicians and whole European peoples will kneel before this terrorist, or will honor, conscience, pride prevail and such a variant of terrorism will be destroyed and never again will the "mad merchant from a rotten gas station" will intimidate and rule the peoples ?!
PS To understand the situation - according to all the data, hydrocarbons, without the development of new fields, are quite enough today to provide today's oil and gas consumption for another 15-20 years without any problems! Believe me, in today's technological world, 15-20 years is a huge time for the development, implementation and production of a huge number of solutions that will significantly reduce the consumption of hydrocarbons. But someone is used to living in the Stone Age, and terrorizing the whole world ...

Next week, these oil price hikes will come to take effect on our country. It's the highest it has been for this year, and I think I might have to drop the car for the mean time and just use my bike to work. Electric vehicles are also not a thing here in the country, and we still have very vague and crude registration rules and guidelines on electric vehicles.

I find it illogical that we have all this tech and advancements in the world yet we still are stuck with fossil fuels. There are tons of other energy sources to choose from yet we still insist drilling the earth and looking for some long dead plants/animals/whatever fossilized and extracting them for energy. Even if that's the case, I'm still happy that other parts of the world are already shifting away from traditional gas vehicles, and switching over to EVs. At the least, we are seeing some small changes, but in this day and age we should have shifted to EVs for a long time now.

Quick question: would you have said the same thing 15-20 years ago? I'm asking because ever since humans discovered fossil fuel, technological development has only lead to an increasing consumption of it:
https://loyce.club/other/fossil.png

I also believe that we don't lack the technology, but it's not being implemented. The transition to renewable energy sources will take decades to be implemented, which is quite troubling, due to some countries who could genuinely take advantage of solar and wind energy. For instance, here in Greece, we have more than 300 days of sunlight per year, it would be great even if solar panels were implemented by companies or individuals themselves.

If I had my own house, I'd definitely invest in buying solar panels, enough to power the whole house and a charging station for electric vehicles, it would be an investment which would quickly pay off.

These days, the prices of fuel (but also gas) have become a hot topic, but all the price increases that are happening are quite logical for me personally - because all those measures that have been implemented over the past 2 years cost a lot, and now it's probably time for billing. The best way to provoke a chain reaction of price increases is to increase the price of the base energy source, which is of course fuel. After that, everything becomes more expensive, and the state treasury collects more taxes from VAT.

Leaving aside all that @stompix mentioned (and it definitely makes sense), and comparing fuel prices in Europe, it’s hard not to notice the differences. For example, in most EU countries the price for 95 is on average around EUR 1.50, but some countries still have a lower price.

- Bulgaria € 1.14
- Czech Republic € 1.36
- Hungary € 1.31
- Malta € 1.34
- Poland € 1.28
- Romania € 1.23
- Slovenia € 1.28

It seems to me that countries outside the Eurozone still have more control over fuel prices (with some exceptions), while countries within the Eurozone generally have similar prices, although there are exceptions. So I wonder what the reasons are for the differences in prices for the same product - maybe the reason is that some countries have higher oil/fuel stocks in tanks so they are not immediately subject to rising oil prices or is it due to competition in the domestic market for oil products, maybe some other reason?

Here you can see fuel prices in Europe : https://www.tolls.eu/fuel-prices

It does not matter how many days of sun you get but how much of that energy you can harvest, and Greece despite being all sunny and so for tourism it lags well behind a lot of countries by actual potential.
Excluding the islands, you only get 4 hours on average spread through that day, so you would need to either program all your activities during peak hours or a ton of batteries.


Nope, it's math.
Combining with what I've said above, you can't really put all those panels everywhere and that's it.
Europe sucks bigtime at solar potential, Germany (https://solargis.com/maps-and-gis-data/download/germany) has the same numbers as Alaska (no joke), and most of the industrial zone of Europe is on the same page. So you need to install a ton, invest a ton in batteries only to be hit by a Dunkelflaute (https://www.dw.com/en/what-happens-with-german-renewables-in-the-dead-of-winter/a-37462540) and then...what do you do? Not a problem if you live in California but when it's -25C outside like last year, it's a different thing.

And this is what's happening in Europe now, no wind and no sun, winter is near,  and all the renewables are dead in the water. Here is the number for energy production for Germany last month (https://energy-charts.info/charts/energy/chart.htm?l=en&c=DE&stacking=grouped&interval=month&month=09). You can see that solar is near nuclear, but nuclear has a 10GW capacity while germans have installed 50GW of solar panels, and the bill for that is just 30 billion last year and more than 200 since 2010.

Let's add the fact that they have the highest price per kWh in the world at 30 cents/kWh?
No, solar is not cheaper, it's made cheaper by taxing you and subsidizing it.


Taxes:
https://www.fuelseurope.eu/knowledge/refining-in-europe/economics-of-refining/fuel-price-breakdown/
0.37 in Romania and 0.73 in Italy. (gasoline, diesel is different)
France actually gets cheaper gas before tax compared to Romania but it ends up costing 0.5 euros more.

I'm not an expert on this field by any means, I'm not exactly sure on how exactly solar panels work and how efficient they are. However, as you've also mentioned, Germany and other nearby countries can't take advantage of the sunlight, due to their climate. I live in Crete, which is sunny for most of the day (And for most of the year), the same thing doesn't occur in north Greece though (Thessaloniki for instance).

This is gonna be epic one. I mean peeps have started to opt out for the electric vehicles, go green moto everywhere and what however, sooner or later everything is interconnected. Get this: A popular example and dream of richest person Elon is to run everything on green sources. So many automobile industries followed the same and now we see electric cars everywhere.

However, we are not capable of harnessing the natural sources at that speed and soon the whole electrical grid will collapse because we will be consuming more electrical power than ever before.

There is now way to get rid of "Power Greed". Somehow cycles will be connected. You need electricity then you will need electricity plants, raw materials to run them whether hydro power or fossils. You are using the natural sources and many of them are expensive to find in natural habitat.

Today the Oil is getting costly, tomorrow same problem will follow with the electricity too! You have to have a source to produce energy. One form from another and everything is limited unless and until we get a tech developed to harness 100% sun's energy.  ;)

Energy sources in the world will keep on becoming more and more expensive, and that is why EV and every possible renewable energy source will be able to get ahead of the old ones. Not because they are more efficient or they are more green, because they are more cheap.

Realize this fact; energy company do not care about the world, this has been proven true for many years now, it has been 20 years of steady decline in the world and we have places burning like crazy, Australia literally burned for months, California is so dry that every year we have wildfires there and these are "famous" places, places that many people do not even hear about in the news burns as well and yet energy companies do not care. However the moment it makes more profit to have solar panels and wind turbines then having oil wells, those energy companies will try to look like the greenest mofos in the world and pump that.

In India, the fuel prices hiked for 5th day in a row!! Crossing the 100 inr mark. In Ukraine it's 1.33$ per liter, which is not that high in comparison. But the fact is, it's during the COVID-19. Plus it's not just fuel prices, it's also the prices in public transportation.
In Ukraine, It's *5 times now, since 2018-19. Plus shouldn't COVID would have helped the government to control it, to help people??? The working?? The middle class??? One might think but unfortunately due to the failing economy I think they are just trying to make up for that. At the same time due to border regulations right now it's hard for the countries who are not producing it, rather importing it..
For countries like Venezuela, the price is 0.2$, a country with the biggest oil reserves in the world. It's all about geography and international relations right now..
That's why the need of the hour is *to use renewable sources of energy* that's a whole new topic.

Trump had kept the oil prices in check, by removing obstacles for fracking and oil/natural gas exports from the United States. He also streamlined the approval process for the new pipelines. But after the regime change, Biden has reversed most of these policies, and as a result the crude prices have gone up by 100% and the natural gas prices have gone up by 1200%. In the end, the citizens in non-oil producing countries are going to suffer, as they will witness steep inflation rates and a weakening of their national currency.

Nuclear has it's own set of problems.  It produces no carbon emissions, but it does create radioactive waste that takes thousands of years to degrade and has to be safely and securely stored.  On top of that, the natural disaster at Fukushima showed that outside disasters can also impact the safety of the plants.  You don't really have safety concerns with green energy alternatives; their biggest problem is scale and reliability.

Compared to nuclear safety, that's not true:
https://loyce.club/other/nuclear.png
It's good to note that basically anything causes less deaths than fossil fuel.

The world is working in a close door to make this happen to everyone. The rate of carbon dioxide emission is high and government are doing there best to make sure that we all adoption the green living standard which will reduce the emission that is being produced by motor, companies and other source of carbon emission. I know very soon the hype if the crude oil will come to an end

We are now experiencing the aftershocks of Corona. During Corona, oil companies massively cut production capacity. We remember that in the meantime buyers even got money for taking oil because there was no storage capacity. Now that the economy is back at full speed, there is a lack of production capacity that cannot be ramped up as quickly. In addition, there has been little new exploration in the last two years. All of this is a dangerous mix for very high energy prices. Especially if the winter in the U.S. and Europe will be harsh.

The EU wants a free market is the electricity and gas sectors.The EU also wants more expensive "green energy" and more taxes over the coal burning power plants and other "dirty industries"(which makes their production more expensive as well).If you combine all these factors,you get way higher electricity and gas prices.The "green lobby" in the EU is pretty strong.Nobody can get on their way.
There's no reason to blame Russia.Gazprom has long term contracts with the EU gas companies at a pretty average price of around 300USD per 1000 cubic meters of natural gas.The Russians aren't causing problems in the EU gas markets.

If I remember correctly, during the previous pandemic, oil prices had plummeted, costing as little as $20 per barrel of crude oil. I recently read that oil drillers are trying to recoup their losses during the pandemic/quarantine.

Well, fuel are a limited resources so it's expected to get more expensive in the near future since there are less more of the resources needed to create the fuel.

My position is as follows.
- oil and gas, in a world where its consumption will drop noticeably in the future, is now becoming a weapon, or a means of terrorism in some hands. This means that it is necessary to look for an alternative and diversify the supply of this resource, in order to reduce the effect of economic terror to zero. As you can see, on the market only 1 semi-monopolist begins to "show" what he can do if his conditions are not met, and has already exponentially inflated the gas price over $ 2,000. Such suppliers should simply be removed from the market.
- NPP is a rather controversial decision. On the one hand, it is a highly efficient source of electricity. On the other hand, over the past decades there has been a huge number of very serious accidents. Each nuclear power plant is a potential global collapse. And given that cheap and affordable electricity for some entities is an inconvenient competitor, and they have no moral principles, NPPs can become the next means of terror. It is enough to stop the nuclear power plant - and entire regions will be without electricity, the collapse of production, logistics and other things. But this may not seem enough, and people who swarmed the idea of ​​world terrorism, and who easily use chemical warfare agents against citizens of other countries, will commit a full-fledged terrorist attack at nuclear power plants without unnecessary torment of conscience. And this is already tens of thousands of lives, millions of kilometers of territories polluted for centuries ... No, this is not paranoia. This is a simple statement of what will happen if no alternative paths are found.
- Solar, tidal, wind, and other technologies - may well become the alternative that will provide the required amount of energy, without significant risks. For this, a good step would be a legislative norm - taxes on the production and sale of oil and gas for the development of more efficient green technologies. Just imagine what will happen if today's efficiency of mass-produced solar panels becomes 2-3 times more efficient and the price falls? Who will need oil and gas in such volumes?

Does nobody remember this from 18 months ago:

https://www.npr.org/2020/04/21/839522390/u-s-oil-prices-fall-below-zero-for-the-first-time-in-history

And now it's the flip side of it, production / extraction was slowed to prevent that from happening again. But, now that demand has increased to ABOVE pre-pandemic levels it took a bit of time for the producers to get full capacity back up they would rather sell less crude for more money then stare at a supply that they can't find storage for. So, the price has gone up. AND with the transportation issues that exist moving the oil, and then moving the refined product (gas /diesel) takes longer and costs more.

-Dave

I beg your pardon - wrong opinion. Let me explain: if this resource, in the future, would have a stable or growing consumption, I would categorically agree. But in the next 10-20 years, the consumption of these resources will noticeably decrease. The fact that market monopolists will resist this, and make "demonstration performances", as, for example, Russia did with gas on the European market, in response to Russia's failure to comply with its requirements.

That's alarming because we're running out of it and the alternative solutions are still useless because there's no support and the intermittence of the alternative meaning that they're not as reliable as a standard fuel and many other things.

Even though cars are quite popular in my country, with around one car per household, I don't have a car and don't plan to own it because I believe it's an irrational usage of space, and a bad environmental decision. So I think it's good that the fuel price is rising because this will discourage using fuel as well as buying a car. As for the price, it's roughly 1 EUR per litre in my country right now. And more generally, moving away from fossil fuels is very important because, as has been shown in this thread already, it's the least safe and the least eco-friendly energy source out there, so developing and encouraging the adoption of alternatives will literally save lives.

During the quarantine of 2020, the price of crude oil per barrel had plummeted, down to $20 levels. I haven't seen petrol and diesel being so cheap back then, it was actually the cheapest I've can remember in my lifetime. Unleaded 95 petrol was as low as €1.318/liter and diesel €1.03/liter. Unfortunately, due to the quarantine measures, there wasn't much use, since everything was closed and transportations were banned by any means.

For the billion? trillion? time!
Renewables are not cheaper.
Who leads the renewables charge in Europe? Germany and Denmark!
Look how electricity prices have evolved in those two countries int he last 10 years.

https://i.redd.it/le4kzddnpoh71.jpg

Who leads the renewables charge in the US? California! Closing fossil fuel powerplants and even planning on shutting down a nuclear station.

https://talkimg.com/images/2023/06/12/Ab6jC.png

Renewables are not cheaper! They are more expensive and more unreliable!
That's why mining in China was done with coal powerplants, that's why mining in the US is done, guess what, from coal and nuclear-powered energy.
Nobody is putting 100 million (https://www.nasdaq.com/articles/stronghold-digital-mining-acquires-second-power-plant-2021-08-03)s into panels but in coal powerplants.


Please list at least two dozens of those very serious accidents, singe there is a huge number to pick from  :D
And if the second one is Fukushima, can you also please also let me know when the last 14-meter high tsunami hit Europe or the US?  ;D

Question on this since I can't find the answer, in the EU is electricity priced as 2 separate things on your bill or just 1.

In most of US you have delivery charges which are what it costs to keep the power lines up, the substations running, the distribution network, etc.

And then you have the generation charges. What it actually costs to make the electricity.

They are separate line items in most places.  What I have seen in many locations is that the generation costs have gone up some but not a lot.
The DEILVERY costs have gone insane. Mostly due to years and years of neglect of power infrastructure that now has to be fixed / upgraded / replaced.

When Hurricane Sandy hit NY / LI 9 years ago it really showed how badly our power infrastructure was neglected. Over the last 9 years the power company has been upgrading and doing tons of other stuff to make sure it does not happen again into the BILLIONS of dollars of costs. Which we get to pay for.
Had it been done over the decades before the costs would have been less since it's cheaper to keep things maintained then let them get that bad and have to do full scale replacements. And the delivery costs would not be what they are now. Since 10 billion over 30 years is a much smaller per month number then 7 billion over 10 years. (Made up the numbers, but the point remains the same) It's just hard to get people to spend money when everything is working.

It's great to show a chart that shows that country X had their power go up Y%. But without context it's just numbers without meaning.
Germany going up 20% or Estonia going up 19% means nothing if they just committed to massive infrastructure improvements that have nothing to do with the cost of generating power. Not saying that is what happened, just that I can't find any info on it.

-Dave

The cause for such a small tiny risk in Nuclear is the fact that it is by far the most dangerous thing in the world. We all remember what happened with Japan when they had an earthquake so big that the nuclear plant had a leak and that caused so much problems for them.

It means normally 99.99999% of the time it is by far the safest since if you do not secure it good enough then we are talking about generations of cancer and other bad stuff going around in that place, hence anyone who does it does it very carefully. Wind and Solar and Hydro is by far still the best and most efficient way since it neither hurts the world nor that difficult to do neither, such an easy way to handle.

I'm really worried about the oil price hike right now it's really difficult for my family because now every day going to work and filling up gas has taken up a part of my own salary income has become a thing too big , hope in the coming days there will be measures to make the oil price drop , so that my family can save a part of travel expenses.

One thing that I have difficulty in understanding is why the tree huggers have an issue with nuclear energy? Without a doubt, it is the safest, cheapest and cleanest form of electricity available. A few accidents have occurred in the past, but the death toll from them is far lower than the ones from thermal or hydro powerplants. And technology has advanced to such a level, to eradicate the possibility of such accidents repeating. Nuclear waste disposal is the only issue now, but even for that now there are safer options.

More exercise, good for the brain. 8)


EVERYTHING will be expensive when the full set of inflation/probable hyper-inflation enters the economy. Now, Jerome Powell is convincing everyone that it’s only “transitory”. It’s NOT, but he will keep convincing the plebs.


The transistion is hard for the world economy to adjust.

Different from country to country
Here we have a monthly service bill, the bill for the consumed kwh, the transport charges, and a government tax, and then the eco-tax, which is made out of a tax for the mix of energy, a carbon tax, a renewable tax, and then we have VAT on top of everything.
It is a pleasure to go through 5 or 6 pages of the pdf to see all of these.

In some countries, those are not detailed at all but it's more or less the same price structure.


Here is the cause for those 20%:
https://www.bloomberg.com/news/articles/2021-01-12/germany-paid-record-38-billion-for-green-power-growth-in-2020
As for Estonia, the same path of madness, how to become an importer from being a net exporter for two decades:
https://www.icis.com/explore/resources/news/2018/09/07/10257649/icis-power-perspective-estonia-will-close-619mw-of-oil-shale-generation-in-2019

And meanwhile, the barrel of oil has gone over 80$.
I'm sure the sacred spirits of the bison warriors are sleeping peacefully now, with keystone dead and food prices for descendants skyrocketing.

The oil price hike is a big issue around the world. The major reason for this is not the oil price hike or something else. It is all about the mismanagement and the oil resource getting into the hands of specific list of people. Apart from this every country have majority of the revenue through oil industry. Through this the government try to make a big revenue in terms of taxation. If the governments make wise plans it can surely lower the tax and give the common people petrol at a much lower price. In my country in recent days to increase the usage of electric vehicles once again the price has been increased, even when people are protesting all around.


https://i.imgur.com/CTsx5ae.jpeg

It's easy to scoff when you don't know the information :)

I'll throw it around, there will be a desire - you sort it out as it is convenient for you, you will find the details of the accidents - I see you are using the Internet somehow :)

- 9 Feb 2017 An explosion occurred at the Flamanville nuclear power plant in northwestern France.
- 26 April 1986 Chernobyl nuclear power plant. Explosion
- March 2011 NPP "Fukushima-1", Japan
- October 1969 NPP Saint-Laurent-des-Eaux, France, explosion
- April 2011 nuclear waste processing plant at the Marcoule research center, France, blast
- January 18, 1970 Radiation accident at the plant "Krasnoe Sormovo"
- August 2004 Mihama NPP, Japan
- September 1999 the plant for the manufacture of fuel for nuclear power plants in Tokaimura, Japan. Uncontrollable chain reaction
- March 1979 Three Mile Island NPP, USA, core melt
- April 6, 1993 explosion at the Siberian Chemical Combine (fuel preparation)
- May 4, 1986 NPP THTR-300, destruction of fuel elements outside the core
- February 1982 Radiation accident in Andreeva Bay (leak of a radioactive cooler)
- February 22, 1977 Accident at the KS-150 reactor (Bohunice NPP)
- November 30, 1975 Accident at the Leningrad NPP
... and I have not yet indicated accidents at any test centers, etc. objects directly related to the NPP

Yeah, so except 3 of them in 50 years, what's so serious about the rest of them?

And when you start with:
9 Feb 2017 An explosion occurred at the Flamanville nuclear power plant in northwestern France.

To me sounds like you're only reading the title:
https://www.theguardian.com/environment/2017/feb/09/explosion-at-flamanville-nuclear-plant-in-western-france
https://www.euronews.com/2017/02/09/an-explosion-erupts-at-edf-s-flamanville-nuclear-plant-in-northern-france-local

All the articles are saying the same, the explosion happened outside the area of the nuclear reactor.
So if you're going to add everything like this we can start counting the number of people who died falling from the roofs when installing solar panels, and that number sure topples deaths from nuclear in the last 20 years. Or was it because you couldn't find anything "serious" in the last period so you needed to beef up your reply to make it look like you have a case here?


So, what does it have to do with the actual reactor?

Meanwhile, some politicians start pumping blood into their brains for the first time in decades:
Led by France, 10 EU countries call on Brussels to label nuclear energy as green source (https://www.euronews.com/2021/10/11/led-by-france-10-eu-countries-call-on-brussels-to-label-nuclear-energy-as-green-source)

I wonder why bitcoin miners stick to gas (https://www.bbc.com/news/av/technology-58020010), coal (https://www.datacenterdynamics.com/en/news/bitcoin-miner-marathon-signs-coal-fired-electricity-montana/) and nuclear (https://www.inquirer.com/business/cryptocurrency-bitcoin-pennsylvania-nuclear-power-talen-susquehanna-20210806.html).

Well, they sure want us to abandon fossil fuels and this all seems to me, an orchestrated move. Fuel prices are doomed to go over the counter as this will be a way to force people to move from fossil fuels onto electric energy-powered vehicles. The problem is that electric energy-powered is not the future. The future of mobility is Hydro.

Oil is a non-renewable fuel, while the need is increasing every year, along with the increase in the human population. Therefore, alternative energy that is environmentally friendly has been developed, including electricity, but it cannot be switched immediately, of course it requires a process, it is possible that the fuel will be completely replaced later.

LOL... this is the most ridiculous justification that I have ever heard. The oil prices are going up because of production cuts from the OPEC+. The oil consuming countries have no reason to spike the prices, because they suffer in the end as a result of high trade deficit and inflation. And it is funny that you think that Hydrogen can be the future of automobile industry. Hydrogen is extremely difficult and risky to store and no matter how much the technology advances, it can't be directly used in automobiles.

Oh yeah!
So how do you imagine this future of hydro mobility?
Is this the latest advanced prototype in development?

https://talkimg.com/images/2023/06/12/AbQom.jpeg

Oh, you meant hydrogen, good, how do you produce oxygen without electric energy or gas?


Not a fan of hydrogen but the risks are lower than with conventional fuel, hydrogen is lighter than air so the risks of accumulation at ground levels like natural gas or even gasoline are far lower, basically just remove the roof and now way hydrogen will cause an explosion from any leakage.
You can also use it directly with an ICE engine, it's just that it's not practical and not attractive pricewise.

My friends from the UK reported that people are sad about the lack of fuel in the gas stations and people are waiting there for hours while most of the gas stations are out of fuel. Since I don't have any issue about fuel in my own country, I'm not sure how real it is but from what I can see many countries are facing fuel issues and the price is in increasing all over the world, however, a part of the story makes sense when you think about the increasing of the inflation rate in all over the world and price of food and anything can increase, but still, I don't understand the real reason of why many developed countries are facing fuel issues even after electrical power is becoming more usable for people and this should decrease the consumption of fossil energy sources.

Even if that was the case, I don't think that automobiles and vehicles in general are accountable for the majority of the fossil fuel usage, which is essentially oil. Despite the EU promoting EVs, we have a long way till those are sustainable and accepted from the mass public. On top of that, we're still using oil to produce electricity, thus, even if we have 100% EVs on circulation, we'd still be using a tremendous amount of oil to keep up with the charging of the electric vehicles.

World oil prices have moved up this year. From the beginning of the year until now, the world benchmark Brent oil price has risen 53%. The oil price even touched US$ 80/barrel, the highest in the last three years, on Tuesday's trading. For producing countries, the increase in oil prices provides benefits, but it will be difficult for oil importing countries, including in my own country and this is very different from gold even though there is an increase but it does not make it scarce in the market, while fuel oil when there is an increase is usually followed by a lack of supply in the market. market leading to scarcity

The increase in oil price is beneficial for only a few dictators such as Vladimir Putin and Mohammad Bin Salman Al Saud. Even the population in these countries doesn't get much benefit from the price increase. Along with the oil prices, LNG prices are also increasing (benefitting producers like Russia, Qatar, Australia and Norway). For the oil-importing countries, this is catastrophic. Here in India, the inflation rate is surging because of rising gasoline prices. The trade deficit is also reaching historic highs.

The management of gasoline prices is to contribute to ensuring the implementation of the target of controlling inflation and stabilizing the market in 2021, supporting people and businesses that are facing difficulties due to the impact of the Covid-19 epidemic.
I think this increase will not stop when production demand is operational, a bad scenario for the economy is waiting for us.

The report was that the countries needing fossil fuels didn't secure their prices so now they are buying at spot price. The market price will increase this high because of it and it will not stop because of the demand. I miss the time when we can only buy gas for $0.60/liter. If I only knew the price will blow up this high, I could have bought more for my reserve. I don't travel a lot though because of the curfews though.

This is very bad, given that it is fossil fuels that make a big contribution to climate change on our planet. World governments are still doing very little to switch to renewable energy sources and to manufacture cars using electrics and other alternative fuels. It is necessary to give up the consumption of oil and gas altogether, otherwise our civilization will be destroyed.

Your analysis may be correct in the long run. But the current situation has nothing to do with a shortage of oil to be available but with the massive cutbacks in production during the Corona crisis. Oil companies completely cut production last year and even stopped the expensive exploration of new wells completely. One remembers only too fondly that in the early summer of 2020, people were even paying money to take oil. So the price of oil was negative for a short time. Now the economy is recovering strongly and production has to be slowly ramped up again, resulting in a shortage. Next year, the situation will calm down again and the price will fall significantly, unless no new unforeseen situations arise.

I'm regard to the bolded part:
So what you are basically saying there is that it's a price increase caused by low supply and high demand.

I dont particularly pay attention to oil price but I notice that people were talking about it with it's consequences on the price of certain products and services. This should remind us that these things are somewhat interconnected just like in nature. If you affect something that have lots of things that are dependent on it, the dependent ones may likely suffers along with what they're depending on. Same thing happens in nature and human society.  You don't "negatively" affect those that have lots of others depending on them.  Lots of people depend on something important without knowing it. They should be really careful affecting it negatively

The fuel price in my country every year does increase, however for certain types of fuel the government provides price subsidies so the fuel price becomes cheap, and lately the percentage of fuel subsidies has been reduced and some are even not given subsidies at all, this is done so that government finances are not burdened.
related to fuel scarcity in several countries, I believe this is only a problem of hampered distribution supply because in my country there is no effect at all.

Well, the price did increase in my country to a ridiculous price and it last for a month, but later it was decreased again, though it’s still a bit high compared to what it used to be for now. Maybe with time we should hope that everything will get better. This pandemic has really destabilized a lot of things around the world.

A lot of things just keep increasing in price and currencies are facing the risks of inflation because of the government’s steady printing of money. A lot of things are not as it should be, even things you can buy in the market are now too costly and you have to pay more than what you would have paid last year. The only thing that has not increased is how much people being paid at their work place, to match the situation at hand, it’s very bad.

Yes, although many countries will be happy with the price of fuel when they are at the top in production and exploitation but it is subtle to realize this is the time when prices should be pushed down to support very low economic levels, people in countries are still facing widespread unemployment, huge psychological crisis and when costs rise like that, governments get the benefits but people in producing and non-producing countries, they also have to buy fuel at a high level. Once not moving down to stable fuel prices, money printing and inflation are very likely to resume a big war

Depending on something could be a problem if it is something that is bad for the world. Oil is bad, fuel is bad, it hurts the world we live and that is why we are having so many fires all around the world whenever summer approaches. This is why we can't really have anything that is decent in the world because all the things that profit people are also things that hurt the world as a whole as well.

All in all high demand gets covered with high supply instead of alternatives and that causes the problem. Oil prices reached literally under zero at some point, during the start of the pandemic, and now its high, this could be avoided with alternatives getting more attention so that oil is not the only thing we depend on.

One catastrophe is enough for me - the Chernobyl disaster. I would like to wish you with all my heart that you and your family never crossed paths with this evil ... One such accident is enough for many tens of years, many millions of people to suffer.
And a counter question - give examples of accidents at the facilities of "green energy"?

I don't really think that nuclear is as dangerous as people think it is.

Chernobyl isn't emblematic of nuclear energy, although it's something a lot of people think about on this topic. Keep in mind, what happened in Chernobyl was during the Soviet era with low safety standards and ancient technology. We're light years ahead of what we had then, and I don't think the small risk of accidents outweigh the amount of energy you can produce.  Realistically, nuclear waste is the only downside, but oil production produces a lot of waste within itself. Oil results in larger CO2 emissions as well, so the trade off isn't that bad.

All countries should have nuclear energy unless they want to exploit countries' resources until it's all gone. Big countries always want to oppress the countries that are not developed and prevent them from improving by spreading the lies about what happened to Chernobyl could happen to them while their own country has their nuclear power. Did they think they are better to handle nuclear plants than the ones who have not tried yet?  It happens to Japan but it's all because of a natural event, there was a Tsunami. Yes, it's dangerous but it's only if not taken cautiously.

The highest price of fuel will lead the world to destruction instead of fossil fuels nuclear energy can easily be promoted as an alternative energy source after the chernoby and fukushima accidents, most people are instinctively considering nuclear power to be dangerous, making it quite unpopular now. Germany and japan have shut down many nuclear power plants since the fukushima accident. Which greatly endangers the habitation of our planet nuclear power is a good option.

People are only looking to the devastation but not in the advantage and the good effect , this is the problem why we are still in trouble of energy when there are other sources .
Nuclear power made some mistakes and people drying , but what about those people who extend their lives because of the energy from nuclear?
and besides our world now is getting advanced so yes we can prevent such mistakes in the past by doing the right thing now.

If there are safer sources of energies like solar and wind, why to keep risking ourselves with nuclear energy? As everyone know it's too dangerous and nobody can predict an accident, it just happens, and once it happens there isn't anything to do besides regretting the actions which lead to that.

Green energy could be already supplying everyone, but it's not interesting for the small group who rules the world as they profit from the precariousness, so it's definitely not going to happen soon. That would be the ideal, because people would be finally autonomous in energy production paying very low costs to supply their homes and to fuel their vehicles.

It's a normal thing where there are pros and cons about technological developments, and of course every development has its weaknesses, and those weaknesses should always be covered up, so that they are close to perfect. but in fact many people do not dare to take risks, because of various interests

If you look here https://tradingeconomics.com/united-states/gasoline-prices and click on the 25 year chart
or here https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_m.htm you can see that we are nowhere near the high price mark of fuel.
And those charts are in unadjusted $ so the price in todays money would be higher.

Now that the worlds economies are recovering from the pandemic prices are going to go up.
Transport and logistics are a mess at the moment so prices are going to go up.

Running around looking to blame green energy or the evil oil producing countries is not giving the full answer.
I asked about costs a few posts up and stompix posted a link about Germany spending $38 billion on green energy
Which looks like a big number.

But the Renewable energy surcharge for Germany went from 23% in 2018 to 21% in 2019 and is 20% in 2021
The grid cost was about the same (my question) however the cost of acquisition for the power has gone up from 21% to 24% of the bill.

Part of that cost is the profit for the suppliers. Anyone want to check on their profit margins?  No, OK I'll save you the effort.
Although 2021 numbers are not out yet:

https://group.vattenfall.com/press-and-media/pressreleases/2021/vattenfall--year-end-report-2020
https://www.macrotrends.net/stocks/charts/RWEOY/rwe-ag/profit-margins
and so on.

Germans (and others) are paying for corporate profits. Green energy is just a scapegoat.

-Dave

I did, so keep your sympathy to yourself, some parts of Eastern Europe were more affected than the east of Ukraine.


Let's add the sufferance of those who can't afford to heat their home and live like in the dark ages to this?
Let's add the sufferance of those who are unemployed because the factory where they worked had to shut down?
Let's add the sufferance of those who will not be able to afford food with these prices?
Let's count those deaths too, shouldn't we?
https://www.theguardian.com/commentisfree/2020/feb/27/dying-cold-europe-fuel-poverty-energy-spending

Luckily for us even treehuggers seem to have 1% of their brain functional:
https://www.dw.com/en/germany-slashes-renewable-energy-tax-due-to-soaring-prices/a-59517333


Let's cut the subsidies and the billions spent on these garbage soylent green revolution and let's focus on solving real problems.
Imagine that, just the renewable tax on electricity is twice as much as the price of electricity in some countries!


It is a big number!
It means 500Euros per citizen, counting in normal Us prices around 5000Kwh a year per citizen, adding the average German consumption per household! at 3000 in the equation one might wonder why are we paying 3 times the bill in subsidies each year.


I just find it funny how your first example is a corporation that produces only green energy.  ;D
Kind of ironic, isn't it?

It was just on a list of German energy suppliers profit from low to high.
They are all for profit companies, most of which have net profit % that other businesses can only hope for.
Don't care if it's green energy or the worst dirty coal out there, for the most part there is more money going to profit then to green.

Not saying that it does not suck. Just that green is only part of the suck. Blaming green for the entire suck is just not a good argument. You could say if the green was removed it would suck less. But you can't say if the green was removed it would not suck.


Possibly, the 500 per citizen assumes that everyone uses the same amount. I can't speak for Germany, and for some reason can't find the numbers, but I would *think* (note think, don't know, can't find) that Germany like most industrialized countries heavy industry and commercial industry in general uses more energy then homes. At a guess, VW, Daimler, BMW, Airbus probably are using more energy then most towns. Could be wrong on that, just going by what I know in the US.

The cost does get passed along, but it's not a 1:1 ratio.

Opinion: This is why the there is so much arguing going on. It's not black and white. It's one big pool of grey. Kind of like the title of this post itself. Would it have the same impact if instead of 'Fuel prices hitting an eight year high' is was 'Fuel prices close to 70% of what they were in summer 2008'

If we could all move a bit, more might be accomplished.

-Dave

The problem that arose in Chernobyl, and subsequently led to a global tragedy, was not backwardness or low security. At that time, the USSR was a more or less adequate supplier of solutions in the nuclear power industry. The problem was quite different. The problem was the "security" system, reduced to idiocy. The essence of what happened was the transition of the RBMK-1000 reactor to an abnormal mode. And it turned out that the staff had no information on what to do in such a (very specific) situation. At the same time, the key problem was that the developers KNEW about this behavior, this reactor model. Moreover, this "behavior" of the reactor was described, the reasons were indicated, as well as ways of stabilization. BUT ! This part of the project documentation was classified as "secret", and, accordingly, was not used to train the personnel of the Chernobyl nuclear power plant ... This idiocy has led to the death of hundreds of thousands of people, and systemic diseases of millions.

The problem is that there are people defending against green energy for ... no reason at all. Those are the problems, we are having that type of problem that people who will not make any profit at all from this end up defending. I understand if you are working in oil world then you would defend it and that would be something very important for you since if you lose then you are losing your job as well.

However when we say that the world is burning, and we are ALREADY too late and the world is keep getting burned, then we get people saying things like "everything seems fine, you keep saying it will get worse and nothing gets worse" for some reason. Like what? How the hell you are not seeing that during summers we get nations on fire everywhere around the world. THAT is the result of us not going green earlier.

We need to go to green or not only we will be doing worse, but we will literally not have any way to stay alive neither. It is really a shame honestly and I am having a bit of a problem to understand how people could defend against green energy when there is nothing that they would profit from neither.

It reminds me candle sellers were against electricity because they would lose their jobs if the world adopted a better technology, what inevitably happened anyway and these people had to find alternative ways to work for a living. That is the normal as things are constantly evolving and something that is a necessity now won't be necessary anymore when we find a more efficient method to fulfill that same objective.
What shouldn't happen is to stop evolving because some people can't adapt themselves to changes in life.

People who act corporately are blind by their own selfish that they can't see the benefits they could also have by adopting green sources of energy.

Such protests may have a short term impact, but it won't block the inevitable. If something is ineffective compared to something else, then no matter how much the supporters protest, it can't be held afloat for too long. In the end, it is up to the consumers to decide whether he or she want to use it or not. The only option left here is to improve the efficacy or make it more affordable. Else, the alternative will gain acceptance. Now you can't force the people to use a commodity which is more expensive and unaffordable compared to the alternative.

This source has nuclear above all forms of green renewable sources.

https://ourworldindata.org/grapher/death-rates-from-energy-production-per-twh

Looking only at mortality though doesn't take into account the environmental drawbacks of nuclear though.  To your point, nuclear offers far more energy for far less deaths compared to fossil fuels, but that doesn't refute my point from my last post that nuclear creates hazardous materials that need to be safely secured and stored because of how dangerous it is.

You have to remember that these are non-renewable resources. Oil is generally hard to find in the first place, and very scarce as well. Not to mention the detriments that it causes in the environment in the form of pollution. PLus as more and more countries get industrialized, the need for electricity and gasoline increases which then pumps the demand of oil and similar products, with this in mind, we have to consider that if we aren't going to change our ways, the vision of a luscious future will be under the expense that oil prices increases, and that our environment is affected. Thing about these types of resources is they are severely downplayed by big oil companies as inefficient sources of energy compared to oil and coal, which then causes manufacturers and even households to not choose these greener alternatives when in reality they are very efficient and also nature-friendly. Plus the startup price also affects the consumer's opinion over these healthier alternatives that's why among the current sources of energy that we use, the most environmentally-friendly option is nuclear energy.

Crude oil barrel's price is steadily increasing, the average price for 95 unleaded, in my area is now €1.80, while for regular diesel is €1.50. Fuelling up your car was always an expensive procedure, but now it's a complete nightmare, in my case I'll need €70-€80 to fill up my tank from empty. On top of that, electricity costs are also spiking, which is quite logical, if you consider that most of our energy is generated by burning fossil fuels.

The question now is, how can the average consumer keep up with the increasing living costs? Fuel, electricity, products have seen increases in price, salaries on the other hand have not. Thus, the total available income is vastly shrinking.

Don't you think that at least a part of the crude oil price rise resulted from inflation? I tried to analyze, but couldn't find any large difference between supply and demand for crude oil in the last 2-3 years. So I am suspecting that the current spike has more to do with the unlimited printing of banknotes in the name of COVID stimulus. Don't forget the fact that the M1 monetary supply of the US Dollar went up by 200%+ in the last two years. Trillions have been created out of thin air, and it is natural to have an impact on the market because of this.

I suppose you mean the renewable sources of energy are expensive if compared to their efficiency, right?

And that is actually true, because there isn't incentive from the government to make people adopt it. There isn't any governmental propaganda to educate people regards this matter. Moreover, most equipments to set the solar system up come from another countries (they are imported), making them very expensive. The government shouldn't charge any taxes on this, because it's something we don't have access in our country and could be even considered basic need goods. As it couldn't become worse, congressmen are already passing a law to create a tax over solar energy production, so people who supply their homes with renewable energy will have to keep paying taxes to the government anyway.

The same could be said about the electrical cars which are still scarce and very expensive if compared to the traditional alcohool or gasoline cars.

However, despite all difficulties and sabotages it may still worth the investment on long run. To reach to a conclusion it's needed to get a quote of how much the solar system costs to supply your house, and next you calculate if a loan is a good idea. Sometimes the loan monthly parcel is the same amount of money you pay to your energy provider right now.

It's crazy to see that near the start of Covid the oil price actually went negative for a little while - there was so much output backed up with no one using it and all storage capacity gone, that it oil producers were essentially paying you (or people with spare capacity) to take delivery. Now over a year later we are back at record highs. Anyone with sense last year should have been buying oil company shares because they were heavily depressed due to this situation and have since rebounded substantially. For the average consumer though, like so many things right now, the supply chains have been screwed up substantially and it might take many years to return to the normal we had before.

It's about one-quarter of the total energy consumed, but overall at the end of the bill, it doesn't matter because if VW for example pays also a greentax the cost will be in the finished product. If a restaurant pays 10% more on electricity that cost will be seen in the menu. It's not that somehow that money paid by companies or businesses will come out of some hidden pocket, at the end of the line it will still be reflected in ours, even if the company takes it out of their profits that will impact on the money shareholders get so it will still be there.

But even if we divide that by 4 to 9 billion, it still comes at 180E per household per year, still you're paying in subsidies 50% of what the bill would look like in a normal country. And it's not a matter of purchasing power either as one could claim, why is the price per kwh in the Netlends half of that in Germany?


Because the second won't happen unless we shut down the economy and I don't see an economic crisis happening because of low gas prices, because of high one...well it's here. Nor would we see people angry and cursing that they've filled their tank with 10$



Let's start counting the poeple who will die of cold in their homes because they can't pay for heating this winter, then let's see if somebody gives a fuck if the planet is destroyed 300 years from now when he is freezing to death with the gas and power cut because he couldn't pay for them.
Go on and tell those poeple  (https://energyindustryreview.com/analysis/energy-poverty-a-time-bomb-waiting-to-be-defused/) they should pay all their money to survive the cold in order to save the planet.

Let's see if you would dare! Imagine having your kid freezing and crying he is cold next to you and listening to some moron on tv about how we need to put more carbon taxes or we will experience heatwaves after heatwaves.

But that is not a solution for all countries either. Unfortunately. I can give you a good example from Germany, which already decided in 2011 to phase out nuclear and coal energy and is now having great problems with the implementation. Among other things, billions have been invested in wind power plants in recent years. In the first half of 2021, however, the wind power could produce less energy (because of the weather) than the last years and than planned. Therefore, the missing electricity had to be compensated with gas-fired power plants. This led to the fact that shortly before winter the gas reserves are significantly lower than usual, and the energy companies have to buy gas at very expensive prices, which makes the prices explode at the moment.

To be honest, I did not understand at all what does the east of Ukraine have to do with it ??? The radioactive slick covered the northern part of Ukraine, then went to Belarus and further to Europe. The east of Ukraine did not suffer from the consequences of this accident!





The rest is all very touching ... In winter, if you look at the statistics, that with cheap fuel, that with expensive fuel, there is always more mortality. Yes, and guess what? Do not believe it - from hypothermia. Amazing fact!
I am sure that a massive decrease in consumption, with a decrease in temperature in houses and apartments to 20 degrees, will avoid problems and increased fuel consumption.

If you are so humane - yes to hell with that, let's feed everyone? Well, really - why do you need more than 1 pair of sneakers in your life? 2-3 T-shirts are also enough - just wash them carefully, in cold water of course, environmentally friendly - with sand or ash :) But the money earned - send the money to the hungry people around the world to buy food, well, so that they also buy clothes for them, also at your expense ?
Or is such humanity not interesting? Or have I changed the emphasis incorrectly?
I will return to the Chernobyl tragedy - you can feed the hungry, warm the freezing, and hundreds of thousands in Ukraine alone who are sick and dying from oncology, as the consequences of this catastrophe, you will not be able to fix it. This is a sentence. Sick from children to old people. No options. No way out. Without the slightest chance ...

It is mind blowing that something could be as volatile as that. We are talking about negative to highest ever in 8 years. I do trading in crypto and I do not think that I have seen something as volatile as oil and that says something. If a person from crypto world tell you that you are way volatile then there is a good chance that you are doing something wrong, it is obvious that there is a good chance you are not going to be making too much sense in the long term.

I get that oil is something we started to use a whole lot all of a sudden which caused the spike, there were nobody using it neither on cars nor on airplanes or anything else really and now they are using it all at the same time which increased the usage but I still do not think that it should be worth this much at this point.

I would rather side with stompix here. The Chernobyl tragedy happened because of the mismanagement from the Soviet authorities. The only noticeable nuclear accident that has occurred in the last three decades is Fukushima Daiichi nuclear disaster in Japan. Even in this case, according to the government study, so far just one death has occurred from radiation exposure. Now compare this to the millions who die every year from atmospheric pollution, that has been attributed to the thermal power plants.

I agree that people also die from pollution. And he dies a lot, and regularly. But this does not mean nuclear energy, because of this it has become safe. About Japan and the Fukushima tragedy. Perhaps 1 person DIED. But perhaps you have no idea how insidious nuclear energy is. You can not die today or tomorrow, but in 10 years, when a person will be in the very dawn of strength, and suddenly CANCER. And even if you move to another region / country where everything is environmentally friendly. Either his children will be identified, or his father, being a grandfather, will be forced to nurse the grandchildren of freaks ...
It's foolish to choose the best of two deaths, really ...
It seems to me that it is worth investing money not in the struggle of one type of killing people over another, but in really alternative, safer solutions.

Exactly my point, your prayers of not witnessing such an event for myself are about 40 years too late


People don't die from oncology, just like they don't die from stomatology, if you plan on using terms that you're not familiar with first make sure what they mean.


I was really getting concerned that the socialist side of your wasn't coming out so I was thinking something was off.
So your solution is not providing bread to everyone but make sure nobody has cake (https://www.bbc.com/news/world-latin-america-39278391).
As usual, the immediate concern is not the ones that have nothing but the ones that have too much, first let's get rid of the kulaks, and then let's see if we can solve poverty. Oh wait, since we're all not poor as hell, it means nobody is poor we're equal! Problem solved!
How about rather than focusing on the number of pairs I have a focus on the number of pairs everyone could have without pointing a gun at somebody else?


Which on top of that happened because of a 14 meters tall wave that got over the sea wall after the earthquake.
Now, when was the last major 7 Richter scale earthquake and 15-meter tsunami in France, Germany, Poland or....Switzerland?

But isn't stupidity wonderful?
European gas price surge prompts switch to coal (https://www.reuters.com/business/energy/european-gas-price-surge-prompts-switch-coal-2021-10-12/)
I wonder why they don't rely on solar...oh wait, it's nearly winter in most of Europe and we get about 3-4 hours of peak sun here.
Renewable energy's share of German power usage falls on lower wind output (https://www.reuters.com/business/energy/renewable-energys-share-german-power-usage-falls-lower-wind-output-2021-09-28/)

That's the highest this year, and I think I might have to give up my traditional bike for a while and start using my bike only for work. Here, electric cars are not an unpleasant thing when we can all protect the environment, now there are a lot of fuel sources in countries around the world that are running out and gradually countries Families are replacing traditional materials that pollute the environment with vehicles that use only electricity. I read the news in a country in the world in the Netherlands they encourage people to use bicycles and this is where most people like to ride bicycles.

Oil companies will increase fuel prices again for the sixth-straight week. The price adjustments reflect movements in the international oil market.
Source: https://www.cnnphilippines.com/news/2021/10/4/Big-time-fuel-price-hike-Oct.-5-.html

Currently, we are also experiencing price surges and hikes here in our country. The average unleaded here will cost $1.17 per liter while the diesel was roughly $0.88 dollars, almost every week the prices will go up as well as the electricity because we cannot depend on the hydro power plants and windmills here to supply our daily household electricity needs and forcing individuals to pay more for the pump while having less for their daily needs.

Hope I'll soon get a confirmation concerning the real reason for the price increase. That should help me determine what to advice to help reduce price. I just hope people do elect leaders who could quickly solve problems like that without creating more problems. Any mistake contributes to National/World problems

It is very easy to be a cynic ... But life, as a rule, "levels out" everything. I will not wish you that you will "wait in 40 years" for this. Life will put everything in its place ...

Regarding "people do not die from oncology", as I understand it, it is important for you to create many words, and is it imperative that your word be the last? I know this behavior, I will not say anything :) But returning to the problem - cancer is almost guaranteed a fatal disease, regardless of the terms and your desire to show yourself smarter than everyone else. I will say again - I really hope that you will not meet with this in your life, and will not, being in the terminal stage of the disease, tell doctors that oncology is not something that dies from. Honestly, I do not wish it from the bottom of my heart!

But given the above, how strange is your suffering for my social side !? :) Well, the attempt to ascribe to me those words that I did not say looks still bad!
I did not say that "no one has a cake", I said that
1. Choosing the best of the two deadly dangers is a bad option, and one should hiccup alternatives with less risks.
2. Not the best option to feed those who are in short supply. Over time, this becomes a habit, and then requests also begin to grow. It is better to help systematically solving the problem - for example, organize production, and give work for money to those who previously could not buy themselves food. Do you want to talk more about sociality ?! :)

Definitely, USA was known for printing money out of thin air, but this situation has been magnified during the pandemic. However, let's be a little realistic now, it's all a result of a chain of events, oil prices are rising, thus, transportation costs are rising. As a result, product manufacturers are paying higher shipping costs, which are usually absorbed by consumers, by increasing the prices of their products.

Ive been thinking on having my bike on going to work but considering the distance then i dont see for it to be ideal because you would really be basically be sweating up before you do reach your work station which is
really very unpleasant if you do ask me.Luckily i do have my 3 cyclinder car which i could use rather than my SUV which is really not too effecient on daily commutes. This is the highest number or amount
that i had experience on gas/fuel prices on my entire life and it do really affects that much for us consumers.Is there something we can do? Its nothing.

And there are more tentative price increase. Holy shit.

https://www.theguardian.com/money/2021/oct/20/petrol-prices-high-fuel-oil-prices-pumps
https://www.forbes.com/wheels/news/gas-prices/
https://www.reuters.com/business/energy/oil-prices-fall-weaker-china-growth-us-output-stoke-demand-concerns-2021-10-19/

I remember those days where fuel is cheap and hadnt really to worry on strolling around.  :D

I have some important activities that I need to go out and I have to refuel my car but looking at the price hike of fuel, it's really making me think if there will be a time to see it roll back. But whenever we see oil price hikes, there's unlikely that we'll be getting the same price as it was before. Well, only important meetings that I'll have to go to to save fuel then. It's what I have to do and hopefully, there will be dominance in EV cars soon in our country.

Honestly, did you expected the low crude oil prices to last for ever? The crude price was $100-120 per barrel in 2014. Then there was the crash, which took it all the way down to ~$40 per barrel. In usual circumstances, the prices should be back to the normal levels in a year or so. But Saudi Arabia wanted to destroy the shale oil industry in the United States and therefore kept the prices low for an extended duration. And then Trump became the president and the shale oil sector boomed again.

I don't. What I'm saying is that whenever there's a rollback, it's always the lesser amount that they've done with the price hike. Too bad that the world has been affected by the oil price hike and we all have to bear with it and there's no solution to this at the moment but just to go with the continuous price hike. Well too many factors why we're having this and it's highly unlikely that it'll pull back to the former price before this hike has happened.

Seems like I have to scream at your stuff as simply alluding to it doesn't achieve anything.
I was in high school when that disaster happened, I've lived through it, and guess what ll my colleagues are still alive, 40 years since then.
Probably because the cancer rate that indeed rose did so from 5 to 10 per million!


I know this behavior too, you could have said cancer but you wanted to look special so you used a term which you're not familiar with, trying to pose like you're well informed and you completely flopped it.
So why didn't you use cancer but oncology? Admit it, you wanted to sound like a specialist.


I'm just going to say one thing about this.
You're actually talking about poeple like they are cattle that need to be fed by the system.


Except that is not true:
First, the Netherlands has about one car for every two poeple.
Second:
https://download.cbs.nl/pdf/2015-transport-and-mobility.pdf

Well, the fact that classmates survived is of course an "indicator". Yes, I want to warn you right away - it is stupid to lie now, information is available, and you can check any "invented fact".
So what is "cancer rate increased from 5 to 10 per million"? What kind of cancer?This is not the first time you are trying to be clever about oncology and cancer, but you yourself write on this topic as a person who does not know anything about it.  So, I’ll digress, but I’ll make it clear to you - oncology is a branch of medicine that studies benign and malignant neoplasms. Cancer is one of the areas of cancer associated with malignant neoplasms. I am talking about this, since this "vector" is the most dangerous and deadly.
Now let's get back to your "statistical" lie.
For example, in Belarus, the statistics of thyroid cancer, before and 10 years after Chernobyl - an increase of more than 10 times. Yes, and the main, most noticeable increase in diseases fell precisely on the increase in thyroid cancer, which is associated with a large release of iodine isotopes, which is retained in the thyroid gland and provokes the appearance of neoplasms ... Some statistics:
it turned out a very interesting fact - a jump in the growth of morbidity occurred in children under 5 years old and in children from 10-15 years old. In children, thyroid cancer is very rare, with 1 in a million children. But in children who were in the infected zone, the numbers are much higher. From 1975 to 1985, up to 70 cases of thyroid cancer were detected, and from 1986 to 1990, 7 thousand cases were detected.
It is not enough ?


Quote from: DrBeer on October 20, 2021, 06:35:22 PM
2. Not the best option to feed those who are in short supply. Over time, this becomes a habit, and then requests also begin to grow.

I'm just going to say one thing about this.
You're actually talking about poeple like they are cattle that need to be fed by the system.

Here is a simple manipulation of words, and an attempt to pass your words off as mine :) No, that doesn't work!

Several reasons can be added for the fuel price increase.

• Very basic is the shortage of gas around the world.
• In several parts of gas reserves were under maintenance as a result of continued lockdown. This has caused decrease in the outcome for supply
• The consumption have increased and gas for energy generation is used much as the energy generation through wind isn't that effective in this season
• The lack of supply caused demand. This wholesale price increase have reflected on the overall price of the gas for consumers
• Today it was Congo that has got added to the list of Gas Shortage country
• Making use of other forms of energy is the only way through which the price can come into control.

There could be many reasons but what triggered all of them was pandemic and its lockdown. Many countries are suffering due to low supply of gas and coal which are major fuel for electricity generations. During lockdown, the production of most things got affected but when lockdown restrictions are lifted out then we could not cope up against with same of increased demand with lesser supply happened in lockdown times.

So, it must be too obvious to have fuel prices at its peaks right after the end of lockdown times. Some economic experts have predicted this kind of bottleneck situation and I am afraid that we are just at the beginning of such negative consequences of pandemic and the real worse part yet to happen in most probable case.

What else do the world expect with the price of one of Elon Musks toys from Tesla being so high and the facilities needed to ensure the workability of the whole system as per consistent and energy refilling still in the labs of Tesla in contrast to the continual rapid production of petrol driven cars and an ever rising demands.
Now, even kids I've got a tast and resources to afford one of these toys, the world is preaching diminishing of crude reserves and most part of the world needs it hor not just a source of energy but then, as a major source to there nations economy. The price is just to skyrocket as some point with these demands and constraints in place.

Due to the pandemic, fuel prices have recently dropped to a minimum, and now, for the same reason, they have skyrocketed again. I don't see much logic. At the same time, alternative energy sources, and especially solar energy from solar panels, are relatively cheap and environmentally friendly. The problem still exists in the disposal of waste, however, this problem has been solved recently.
If the production of energy from alternative sources is growing very slowly, then these states are not too interested in such energy. There are also forces that lobby for the interests of the use of oil and gas and they pay government officials a lot of money so that changes are not implemented or it happens at a very slow pace.

1. There is enough gas. The only problem is the attempts of gas blackmail by the Russian Federation towards the EU. And they don't even hide the reason - "allow us our Nord Stream 2, in violation of European legislation - we critically need a monopoly right to supply gas to the EU"
2. Can I have an example?
3. Consumption in the world, I agree, has increased against the background of the most severe lockdown. BUT ! Demand has not become HIGHER in volume than before COVID19, and gas production has barely changed
4. The proposal was violated only in the EU, and only by one monopoly supplier :)
5. And what - in the Congo, is there any noticeable, on a global scale, the need for gas? The main industry there is the extraction of natural resources and precious metals, as well as wood and coffee. Which of the following areas of the economy suffers without gas? :)
6. Gas is sufficient, and the price can be regulated by the market where there are no monopolists and the personal gain of some politicians. An example of Moldova is the Kremlin's gas blackmail. Do you know why, unexpectedly, there was no gas for Moldova, and the price soared to $ 1,000? Because for Russia, Moldova's plans to implement joint reforms with the EU are dangerous, in particular, the liberalization of the gas market. This violates the plans of the Kremlin terrorists to monopolize the European gas market. Total - Moldova did not go to blackmail Russia, and forced the Kremlin to play by the rules of Moldova! Learn from a small but proud and smart country!

Also, add a figure of thyroid cancer cases from 1940 and 1920, that would be a better indicator!
Here is a complete study for those numbers, stop searching on Wikipedia for them.
https://www.unscear.org/docs/publications/2017/Chernobyl_WP_2017.pdf


Looool, how about you stop trying to talk about things you don't have a clue about?
Cancer is one of the areas of cancer?  ;D
Do you actually read what you write here?
So cancer is associated with malignant neoplasms? No shit sherlock! What's next, telling us that dental cavities are associated with teeth?
Seriously, stop trying to copy-paste stuff you don't understand from Wikipedia and stop acting as you have even cared or researched this prior to yesterday.

Again, based on the numbers you have produced we have 7000 cases over a 5 years period.
Meanwhile, we have 3 million poeple in Europe alone who can't afford heating and 15 000 deaths are caused by this each year.
https://www.euronews.com/2021/09/22/nearly-three-million-european-union-workers-can-t-afford-heating-says-trade-body


One monopoly....you went from neoplasms to pleonasms.
This definitely wasn't your best weeks around here.

This pandemic became the biggest challenge in the fuel industry most especially during the early year it has been on. During the first year of the crisis, the fuel industry didn't have much profit because of limited travels due to restrictions as a safety protocol. Hence, the fuels were just stocked up. When we apply the law of supply and demand, during that time, the demand was very little and the supply is high, giving a cheap price to fuels.

However, as of today, the operations are almost already back to normal. The transportation and travel restrictions are at ease now. The high demand for fuel is back and the fuel industry definitely wants that. Now, what they are doing is just maintaining the production and not really increasing it to spike the price as well. Since they have to make profits and gain back what they have lost during the darkest times since the pandemic started.

Market volatility really plays a great role. Aside from this, we all  know that fossil fuel is really expensive because of the fact that it is made out of a non-renewable source and also because of the processes it undergo. Fuels made out of renewable resources are a lot more cheaper than the usual fossil fuel. You can try it if you want to lessen your spendings. However, i think it isn't widely available to most areas of each countries around the globe.

Ofcourse, but if the alternatives are not local and abundant in supply, high demand could still cause their prices to increase.
I think focusing more on local energy sources that individuals could easily produce themselves can help in reducing the current and future price increase. That's part of the solution actually

I read this report, of course. Want to sound smart again? Well ok, let's prove the opposite again, if you like it :)

1. Research concerned ONLY research on cancer (or malignant neoplasms) of the thyroid gland. This disease is directly related to damage by iodine isotopes. For general development, it is a short-lived isotope. Accordingly, the impact was not long-lasting, although quite strong. This is just one of the groups of victims whose manifestations began later. The splash shows it. There is a question to this report - from what sources were the data on the defeat of the population taken, from the infected areas, if in the USSR all this information was always hidden, or distorted. Let me remind you that the USSR was a very disgusting state, in Kiev, after the Chernobyl disaster, when radioactive ash was imperceptibly falling on the city, the state forced everyone to go to a mass demonstration dedicated to May 1 .... Well, ok. They took it somewhere, the statistics of the lesion is there, the growth of the disease is visible. The decline is characterized by a "short" period of the life of the isotope of iodine, and, accordingly, a limited time of injury.

2. The accident also resulted in: the release into the environment of radioactive substances, including isotopes of uranium, plutonium, iodine-131 (half-life - 8 days, discussed above), cesium-134 (half-life - 2 years), cesium-137 (half-life - 30 years), strontium-90 (half-life - 28.8 years).
But these "gifts", irradiated people for a longer time. Is there a report about this somewhere? Although I’ll be honest, don’t.
A noticeable, systemic growth, of various kinds of oncological diseases, in the population of Ukraine (I will not say about other countries, I have not studied, I do not have information), is quite noticeable. For example, breast cancer is a surge in a decade and a half, after an accident - an increase of 2-4 times.
Melanoma of the skin - growth after the accident 25% -45%
Continue ? There is also lung cancer, brain cancer, ... This is all also with an increase in manifestations.

3. And a little about chemistry. We have heard about iodine. What can you say about Cesium-137? In short, a quiet, inconspicuous killer. This isotope affects quite large areas to this day. Half-life is 30 years. So, until 2016, he was slowly killing people, giving rise to new foci of malignant neoplasms in them.
If we return to the topic, then, frankly speaking, it makes no difference to me, and I will be against any pollution, be it the consequences of burning coal, be it the risks of nuclear energy, everything is bad, everything kills. But trying to "blur" the eyes and prove the "safety" of nuclear energy will not work, there are facts confirming the danger, especially in the modern world. I repeat once again - it is extremely stupid to try to choose "the best of two piles of shit", in the end, whatever you choose, there will be shit. So it is here - both options are dangerous, and there is no need to hush up and pretend that the "shit" atomic is better

Ah .. well, yes, what is the life of people dying of cancer, if someone is cold in Europe !?

PS "One monopoly....you went from neoplasms to pleonasms.This definitely wasn't your best weeks around here." - Sorry, but the question is - do you have some kind of complexes? :) Do you want to show off your mind at every opportunity? :) No, it doesn't work! :)

Rather than copy-pasting and rephrasing whole lines from Wikipedia which might get into trouble let's stick with the basics, the only part of your post that was genuinely written by you and not research made at the last minute:


So, can you explain how cancer is one of the areas of cancer?  ;D
Please enlighten us, Doc!

Meanwhile, I have some bad news for you and your eco-terrorist friends.
Not only will Romania complete its two nuclear reactors but it will also build 12 mini reactors with NuScale (https://www.reuters.com/article/romania-energy-nuclear-idCNL8N2RT5HK).

Poeple are starting to understand that there is only one scalable source of energy that can generate power 24/7 at low costs.
One winter with thousands dying from cold and the 50 cents per kWh and I have a feeling Germany will take on China's lead about coal pretty soon (https://www.nytimes.com/2021/10/28/business/energy-environment/china-coal-climate.html). Oh wait (https://www.washingtonpost.com/world/2021/10/23/germany-coal-climate-cop26/?outputType=amp)...

It was expected for the fuel industry to get back to normal. After all we are talking about something that is basically just a situation where there is a huge demand which makes it worthy to make it work and then supply will reach anyway. If there is a money to be made at something then people will do it, everyone keeps doing it and that is called business. If there is so much fuel need in the world, even with pandemic causing such a big break and problem for them, eventually oil industry worked on it and cover all that need.

Oh well i thought this problem is happening in my country only , since last year the fuel price has gone up about 40% in my country and it has resulted in increase in fare of all transports and every thing, and once i used to fill 3$ fuel in my bike and that lasts for days, but now in 3$ today it may last for only 2 days for me.

Gas prices in my country are now $1.5 per Liter which is the highest since December, 2024.
I am taking a lot of public transportation these days especially when going into the city.

Fuel was pretty low before COVID came along if I'm not mistaken, or at least gasoline was nowhere near as expensive as it is right now.  At my local gas station, the price is $3.56/gallon and I haven't seen it that high in a long time.  As far as there being logic to it, I'm not sure that's always involved in determining what a barrel of oil goes for--and the same goes for stocks, crypto, and nearly every asset class for which there's a market.  There could be politics involved, it could be the effect of inflation, it could be anything that's driving prices up.

But I think the most likely explanation is, in fact, inflation.  I'm seeing it everywhere, so why should oil/gas prices be exempt from it?  I'm hoping we don't see gas prices near $5/gallon like we did in the 2000s.  That was pretty rough, but that was before 2008 when (I think) the recession started after the housing market crashed and the banking crisis happened.

From the dialogue with you, I saw:
1. You really want to make a scandal
2. Having no other options to prove your advantage - you try to cling to someone else's typo, and return to it 100500 times
3. Hinting that you are an unsurpassed bearer of information and will never turn to open sources. Others, of course, don't know anything and copy everything from the Internet :)
 
I see no reason to continue the dialogue with such an "amazing character". I will no longer help you realize your complexes ... You can write, not write, I don't care, I'll just ignore :)
Good luck, do not freeze, wear warm socks and a hat with earflaps, more nuclear energy in your life, which of course does not affect your health :)

Exactly the same price! Wew! unable to take now; I intend to commute instead; however, the cost of living continues to rise. Previously, I was driving aggressively and not caring about the fuel economy, but now I am mostly driving in eco mode just to save gas! Every day, the price of fuel, food, and other essentials rises, making our lives more difficult. As they have stated, the cost of food and other necessities is rising steadily, while our pay is decreasing steadily.

It is supply/demand most of the time. Even in stocks that is the case, which we all know it is the case for crypto as well. As long as there is more demand and less supply than the price usually goes up. If government gets in and tries to drop the price or at least limit the price than companies who get it will not be able to profit, they will make a loss and they will close shop which will be even bigger problem.

It means that right now we are seeing a lot of problem with fuel prices because there is a lot more demand right now. World is trying to overcome this pandemic period and go back to regular times, but there were such a big breaks during that period that it caused some stuff to be postponed and right now there are more than usual usage right now, even compared to pre-pandemic period. It will go back into regular prices after all of this is done.

Where I am living the prices have touched $1.55 per liter. But here in India, the prices vary from state to state. In some of the states, gasoline prices are as low as $1.25 per liter. But where I am living, the state taxes are too high, and as a result the rate is comparatively higher. Anyway India imports more than 80% of the oil, so I can't really blame the government for taking steps to discourage the usage. The economic downturn from COVID 19 is also there, and as a result they can't afford to lower the tax rates.

The rising inflation has hit everything hard and the petrol price crisis is the main concern of every citizen across the globe and we could see some insane rise in petrol prices or say it has busted to the record high in most countries due to increase in crude oil barrels.


The only one safe from these cricis are the oil producing countries like Saudi Arabia and some other oil producing nations rest all are hit very hard from these financial burden.Here is an image for petrol prices globally and you will find Hong Kong on the top of it with average price per litre above $2.5 which is insane as at this rate $30 will fill half tanks only.

https://i.ibb.co/hLzj25s/images-42.jpg (https://imgbb.com/)

Crude oil prices historical data (https://www.macrotrends.net/1369/crude-oil-price-history-chart)

The government is imposing further heavy tax on the products which in the last the common man is paying the cost for them.The main problem is not rising prices or inflation but have salaries been readjusting at the same rate or is revenue being generated at the same pace? The simple answer is No so that's why it is big problem for all of us.

This is another chart depicting the changes in petrol prices for over two decades.

https://i.ibb.co/m8cKdVb/images-43.jpg (https://imgbb.com/)

The rate has been doubled in all these years and how could the economy will be improved at the same rate if people's savings will be spend on these essential commodities at such an increasing pace? But still there is no answer for these and these problems are not going to resolve easily and the money printing is not at all best possible solution.

Fuel prices had crashed during the pandemic and when most quarantine measures had taken place. I don't recall seeing fuel prices that low, at least for the past few years. Fuel prices were never considered low here in Greece, especially during the summer season, due to increased demand. However, such prices haven't been seen since the 2012 crisis.

On the other hand, I'd want to believe that this situation won't go on forever, and will slowly subside with time.

This issue isn't going to be resolved anytime soon because governments have given full control to oil companies to decide the prices as well as they also add additional VATs and taxes which are killing the hopes of a common man regarding any nearing signs towards fall in petrol and diesel prices.


We pay around Rs.108 ($1.46) per liter for petrol and Rs.98/Ltr. ($1.32) for diesel. Electricity prices are increasing due to the mass adoption of electric vehicles that are replacing petrol and diesel oriented vehicles, but due to this, we are going to see a huge boost in the price of electricity too as when we pay Rs.20 per 20 liter bottle of R.O. purified water and the same is paid for a 1 liter Bisleri water bottle with added minerals, then I don't think they will leave electricity behind and will even slap huge bills on our face on the name of "loss recovery that are caused due to pandemic".

As long as governments keep on printing more and more money, prices will keep on going up as well. This is not just for fuel, but for everything else. Sure there is a big competition in some prices and that is why prices do not spike too much in small stuff, you may buy milk or bread or egg for similar prices but other stuff, big price stuff keep on going up way too much. Look at house prices, look at car prices, look at education prices, look at healthcare prices. These are all expensive stuff that got even worse. This is why I believe that we should not be focusing on just small items to determine inflation, it doesn't give the full picture.

This is something that most of us ignore. At least a part of the price rise related to the crude oil resulted from the massive increase in M1 monetary supply during 2020-21. Look at most of the other commodities, like wheat and coal. You can find a corresponding increase from them as well. And as far as I know, there is no significant change to the crude oil demand/supply pattern during the last 3-4 years. So the increase in prices has to come from somewhere else. And this is going to get worse in the near future.

A very interesting and informative collection of data. And tell me, does it seem to you that not the indicator of the net price of gasoline, but, for example, the ratio of the cost of a liter / gallon of gasoline to the weighted average income of citizens of this country will be more weighted? Well, or even to the minimum subsistence level in the country? It seems to me that it will be a more accurate and correct indicator, since it will lead to a "common denominator" indicators in countries with, for example, large stocks, or low living standards, or low stocks and high incomes.

Fuel prices together with grocery prices are the most direct way the consumers feel the rising inflation. We all see the prices at the gas station change each week. But its not only fuel prices that are at so high levels, its all type of energy prices. Economist say it was just a matter of time for energy prices to rise. This winter will be very interesting because it could get very cold and people will need more fuel and heating. The big problem I see in my country is that wages are not rising together with higher living costs. The big fuel companies and OPEC don't care about the average consumer, for them it's all about their bottomline. The higher prices could easily be offset by increasing production but for them it's about maximising profits. Unfortunately we don't have any choice, during winter there is no chance to take the bike or walk when it's freezing and raining outside. We are stuck with the prices at the gas station and have no alternative. Officially there is no fuel monopoly, but the prices at all the gas stations are pretty much the same.

I am still inclined to think that the index should be integral. The cost of goods and services show the "expenditure side", but we must compare this with the "revenue side". Using a simple example, what does 1 dollar per liter of gas mean for a Norwegian? And what does 1 dollar for a liter of gasoline mean to a resident of Ukraine? Of course, this is all with regular consumption. I answer:
1.in fact an imperceptible part of his income
2. A fairly noticeable part of income
Or, for example, gasoline for 1 cent in Venezuela is cheap, so everything is fine? But in the UAE, everything is bad, since they have gasoline as much as $ 2.5 per barrel! But the economic situation turns out to be absolutely opposite! 1 cent out of $ 5 income is much more expensive than $ 2.5 out of $ 5,000. It is necessary to compare the commensurate ...

It’s everywhere. Wait for your government, by law, to increase the minimum monthly salary. That’s one of the very first signs that prices of basic goods in your country will never fall back to what they were during last year. That’s inflation. 8)

Industrial needs with oil are very high, china is a fast growing economy they need 2x oil than the US needs and this makes prices skyrocket, i think this is a big problem because oil resources are not renewable so the world will be dark if not oil, alternative resources have not been able to fully replace oil because many countries do not support green energy policies.

The price of fuel is not even has high as that of gas in my Country, you need to know that it has double its price this last quarter and is not a joke, many people are looking for other means because you can't depicts what price you will get it when next you want to.

Yeah even in our country fuel prices keep on increasing together with other goods in the market. Maybe this is still a caused of pandemic because it was a long time before the economy recovered. Sadly only fuel and other goods keep on increasing but the salary of employee still the same. Rising commodity prices make it even more difficult for people.

My nation has something similar as well, the cost of filling the tank of your car is significantly lower than what could be considered for a German for example, it is probably nearly 30-40% cheaper right now. What does that mean? It means we are doing better? Or it is cheaper?

For this type of situation people usually talk about how many litres of gasoline could the minimum wage could buy. In that situation we are eliminating something serious, we are talking about purchasing power, and when you consider that a German could buy nearly 2.7x times more gasoline for their minimum wage than what our citizens could. This shows you that it is in fact cheaper for them, and that is a good calculation.

However that leaves one side to calculate, if you have 50%+ of your citizens work for minimum wage or even less illegally, whereas Germany has only 3% that also means that the calculation is even worse, people in Germany usually make a lot more, which means the difference is even higher.

Absolutely agree ! Therefore, I think that the indicator should be integral and take into account several factors, including the level of the minimum income and the income distribution of the citizens of the "measured country". One figure is not only not an indicator, but most likely an indicator that will lead in the wrong way and will eventually give an incorrectly formed opinion or assessment.

I'm replying to myself here, but I wanted to follow up on what I wrote a couple of weeks ago--gas prices in my area have actually gone down somewhat, because that same gas station now has a gallon at $3.38.  There's probably not much to read into that, since oil/gas prices fluctuate just like every other commodity, and I don't think there's a downward trend as of yet.

And hey, I also remember when gas was at or above $5/gallon here in the US back in 2004 or so (it was so long ago that I don't remember the exact year(s) gas was that high, but I'm pretty sure I'm in the ballpark).  When you compare where we're at now to back then...whew.

More of a problem is getting my hands on everyday supplies like pet food.  The supply chain issues are no joke, regardless of whatever's causing them.

Precisely an oil country such as Venezuela, which has production everywhere, has to import gasoline, for the simple fact that those who are operating with oil are not able to process their own gasoline, when at a time the best Gasoline in the world with the best octane was produced by Venezuela, now the gasoline they bring is Iranian, which means that Iran, due to this production, is obtaining one of its highest income due to its process,

I am very surprised by a peculiarity, that as time passes, they continue with the dependence on gasoline for most cars, they were talking about hydrogen, other means, but I think it is still not enough.

Same here, petrol and diesel dropped the significant amount of €0.02! Astonishing to say the least, doesn't make much difference to be honest. However, I'm noticing a downtrend on Brent Oil the past one week, with the barrel now costing $78.40, compared to $82-$85 which was the usual for the time being. Let's shall wait and see if it drops any further.

Venezuela's problem is not even in its president Maduro, the problem began to manifest itself even before him, he simply became a catalyst for the process. The problem of Venezuela is the huge dependence of the economy on the oil market. Oil provides 95% of export revenues, more than 50% of the state budget revenues and about 30% of GDP. Can you imagine what a powerful dependence on surges in oil prices? And any downward movement of oil really drives the whole country into poverty! Imagine - somewhere they just find a new field of cheap and affordable oil and the economy of an entire country collapses, and no one can save Venezuela ...

What I find most crazy was the fact that fuel a year ago was NEGATIVE, as in - Oil companies ran out of places to store it and were paying people to take it off their hands. All that spare capacity was used up and now we're at a situation where supply is too low to meet demand, pushing prices towards all time highs. Covid has really shaken all sorts of supply chains up far beyond the direct effects of the disease, it's looking like it might take a few more years for everything to get back to what we used to call normal. It just goes to show, that for all the talk of transitioning away from fossil fuels, it is still a major driver of the world economy and will take many decades to fully replace. Lots of people might wish it gone but it will stubbornly stick around.

Indeed, at the end of 2021, fuel tends to increase by a few percent, which is triggered by many factors causing the increase in fuel prices.

In 2020 and in 2021 even though the price of fuel increases by a few percent, but it doesn't have a bad impact on the needs in my country, such as the 2020 Pertamax Turbo €0.6 per liter in 2021 to €0.8 per liter, that's for example.

Actually there are some active fuels in my country, of course there will be changes in 2021 for the fuels in my country.
As an example:
1. Diesel: €0.4/liter.
2. Non-Subsidized diesel: €0.69/liter.
3. Pertamax Turbo: €0.8/liter.
4. Pertamax: €0.56/liter.
5. Pertalite: €0.47/liter.
6. Pertamina Dex: €0.69/liter

For now the price of fuel in my country is still relatively cheap, even though the world price per barrel rises, we are still safe for now.

Oil will always be an important issue in the world, various policies to be able to suppress oil prices are not effective because the use of oil continues to increase and cannot be controlled, many countries do not want to develop alternative energy because most oil companies are state-owned so it will be a loss if the state also develops alternative energy massively.

Where are you from, if you don't mind me asking? That's extremely cheap to be honest, however, we should also take into account the living wages and expenses of your country. Here, in Greece, the cost of electricity, fuel and groceries is way out of proportion for the average household. Everything is going up, except our wages/salaries.

You are right, for now Venezuela has no salvation, is that I think that even if oil were to reach the powerful sum of $ 1k per barrel, it would be even poorer, because the government's thinking is to give everything away to Cuba, Nicaraguaa and all those Countries that share their political ideology, corruption is extreme, there is no way it can be solved, what people do is try to survive with a business that they can start, apart from the fact that services are very limited and every day lacks quality Like electricity, water, telephone, here what is being extracted is oil, but everything goes to China and Russia.

Well, if the government of the country, instead of taking real steps to get the economy out of the crisis, play some idiotic games in order to "take revenge" on someone. As practice shows, the result of such merrymaking leads to a sad result, and in this case - most likely to further destruction of the economy. Handing out a friendly pat on the shoulder, a key resource, is an absolutely idiotic idea. We must remember that those who "pat on the shoulder" historically always use them to their advantage, and as soon as Venezuela becomes uninteresting, they will immediately turn away from it and pretend that they do not know it.
But let me remind you once again - a stupid president, this is just a "catalyst for problems", but the problem itself is of a systemic nature, and it is called a resource-based economy ...

There hasn't been any change in fuel prices in the past 1-2 weeks, here in Greece. However, I've observed a downward trend on Crude Oil, which is rapidly losing in value, closing at approximately $73/barrel. Are we coming to an end, regarding tremendously expensive fuel prices? Lets shall wait and see, in the near future.

https://www.investing.com/commodities/brent-oil

P.S I'm now reading that its drop is possibly caused by the new Covid-19 virus strain, which is threatening the oil demand.

https://www.ft.com/content/8e13522e-70e0-462a-bf15-476c9e0a0cec

This is why the experience of oil users vary from all parts of the world. It depends on their government how they tackle this issue. But those oil-rich countries are enjoying the spotlight because there will always be consumers across the globe. And somehow, they can dictate their price because people need it.


This situation may vary from country to country. But good for those who are residing in your area but in my area, the fuel prices are continuously increasing. Checking the fuel prices around the globe, I didn't expect that Venezuela has the lowest gasoline price here.

https://www.globalpetrolprices.com/gasoline_prices/
https://i.postimg.cc/3Rbk7FJv/Screen-Shot-2021-11-28-at-8-06-41-AM.png

LOL.. Brent Crude crashed by 12% in a day, to end up at $72.72.

https://oilprice.com/oil-price-charts/#prices

Covid destroyed the combined efforts of Biden, OPEC and Putin. And at last, some good news for the oil consuming nations. But I need to see the long term impact. If the prices dip further, then the shale oil producers (especially in regions like Eagle Ford, Permian, Sugarkane and Bakken) are going to cut down on their future production plans. And this in turn will result in a scarcity in near future.

Yup, I was also tremendously surprised too but on the other hand, I kind of expected it. Austria has already imposed a full lockdown, Germany is possibly going that way too, and especially now with the new virus strain, it's definitely going to crash even further. I use my car on a daily basis (university, work, groceries etc.), spending more than 120 euros per month just on petrol, it's way too much.

Dollar prices of fuel increasing is also a terrible situation for nations who have weak fiat against dollar as well. People do not consider the added costs of that problem. I have to say it is very difficult for a nation that loses value constantly and then the fuel prices increase at the same time as well. That means while you are getting poor because of your own fiat, you are getting even poorer on top of that because oil prices in dollar increased as well.

It is not really something that I would see a get out of, like what could you even possibly do when the case is that strong and that dire? What is a solution to that? Better people than me tried and failed so I have no idea how to do it.

Another rather narrow issue is local fuel pricing, market monopolization, cartel collusion. This significantly more affects the local fuel price than market fluctuations in the price of crude oil. For example, we have that oil is falling, that it is growing, the price of gasoline is only growing :) At the same time, suppliers shrug their shoulders and each time they give out some regular explanations why when the price of oil decreases, we do not observe a decrease in the price of gasoline. No, I do not demand that the price of gasoline be reduced on the same day, I understand that this batch is still from that expensive one, but when a batch of cheap oil comes to an oil refinery, should they get gasoline with a lower cost at the exit?
PS I'm already seriously starting to think about buying a Tesla in exchange for my current device with a 4-liter gasoline engine :)

It went down even further. Brent crude is now trading at $70.57 per barrel. Ideally the oil consuming countries should make use of this opportunity to accumulate as much oil as possible. When oil was trading at $40-$50 per barrel, a lot of them thought that the prices will remain like that for the long term and never bothered to increase the strategic reserves. Then all of a sudden the prices went up by 100% and everyone was scrambling for oil. Here in India, we are yet to witness any additional lockdown measure. There is no spike in the number of new infections, from what I have seen.

It even went down further, yesterday if I'm not mistaken, below $70, at approximately $68-$69. However, we're yet to see any difference in gasoline prices here, at least where I live. My best guess is that there are still reserves bought at a higher price.

No quarantine measures have taken place in Greece either, despite the increasing number of cases, however, I believe that fuel prices will slowly subside, due to the new variant.

This indicates everyone faces the same issue all over the world. Here all other products' price as well has gone high blaming gas and fuel price have increased. The other main reason for the hike is said to be the Pandamic business loss. I mean, all goods businessmen tend to say that they have lost so much during the lock down and to equalize that, the price is increased they say. But everyone's salary remains the same!. Really not able to shout out on this issue.

Yes, in part it is as you say, the culture that people have is very liberal, that is, if they are bad they do not want to continue bad, as long as the government gives them a bag of food every 15 days, but in terms of progress such as university careers, the level of education drops remarkably, the professionals are not of the same quality as before, and I think that is the engine of every country, or simply those professionals do not stay in the country due to lack of opportunities and they go to other countries to practice.

it seems that for local gasoline prices in my country as far as I have observed, it's easy to raise it but hard to lower it. when gasoline prices increase, of course there will be many demonstrations, but they will disappear along with habits, but when world oil prices fall, the government is reluctant to lower the price, maybe because it requires extra energy to increase it again along with world oil prices.

Fuel prices are increasing in the world but the reason behind is not always the same everywhere of course. For example, in my country the biggest reason is the bad management of the economy. The government policies are very wrong that they cause everything about the economy to go down sharply. And the fuel prices are also in this. I wonder until when this increase in the prices will continue.

The problem is that the supply can be manipulated literally at any time. Just let the nations providing oil and gas be greedy and they can decrease supply.

But who would have expected that we are going to see 8 year record prices after the insane crash we had in early 2020 where we had even negative oil prices? It settled at $37.63 negative...

Currently all the market is looking at Omicron variant. This may have a strong effect in the price of oil if it is effectively confirmed to be a variant of concern for OCDE economies and for China. If that is the case, the oil will go down, not severely due to the already not that good supply lines, but probably enough to pinch the bubble. In any other case or scenario, the price is set to be even higher during at least 1 and perhaps up to 2 years while production and energy mixes adjust themselves to the new situation.

I think for countries that don't have mineral resources as well as technology and can't negotiate well in the international arena, the price of imported fuel will always be high and the government can only deduct a part of the budget to limit the sharp increase in prices, the rest will be calculated into people's income and expenditure. In addition, some bad governments often take advantage of these occasions to pocket some of their own money from taxes and budgets, sometimes encounter complaints and resistance from people, they will also have a few months of adjustment but quickly, the old scenario will repeat when this event is forgotten

It was kind of expected that fuel prices would crash during the pandemic, let's keep in mind that most countries had quarantine measures in place. However, when that ended, I never expected such rise, in such a small period. On the other hand, I wasn't surprised that fuel prices rose, since oil companies were trying to recoup their losses, but honestly, I've never seen gas costing 1.82€/liter, for regular unleaded.

I heard the oil prices went down considerably once the new variant of the covid is discovered. However, not in every country get this discounted prices and most government are still giving oil to their people at the same high rates.

That is what I am saying. The crash was to be expected even though, frankly speaking I didn't know prices could ever go negative! ;) But that bounce back then is quite unprecedented when it comes oil I suppose? I mean the whole economy went nuts with all that financial support. Pandemic is spreading and stock prices deliver one ATH after another.

Oil prices are holding steady at around $70 per barrel. But it is the natural gas which is going up like crazy. In Europe and East Asia, natural gas is trading at $1,000 to $1,200 per thousand cubic meter. The oil equivalent price for LNG right now is around $200 per barrel (a few months ago, it used to be around $10 per barrel). Europe is facing a massive shortage, as Russia has refused to increase the supplies. Now they can't blame Russia as well, after imposing sanctions and embargoes on that country. On one hand they want gas from Russia, and on the other they want to interfere with Russian politics.

Wasn't aware that the embargo with Russia was still holding strong, wasn't that imposed quite a few years ago? Anyway, I'm now seeing that it dropped even further, down to $66 per barrel, it's a significant drop from the $80 range. Despite the massive drop in prices, the prices in pumps are yet to change here, in Greece, possibly trying to sell as much stock as possible, which was bought at a significantly higher price.

Nobody meddles in the internal politics of the Russian Federation - there the Kremlin do what they want - this is the problem of the local population, or everything suits them. It is the EU that does not want a new global war in Europe, but Putin, apart from terrorism, has no methods left to sell gas and distract his own population from internal problems. But it is good that the Russian Federation is no longer secretly terrorizing Europe economically - the EU will understand that the Russian Federation cannot be a stable partner, and the EU will be forced, "thanks" to the Russian Federation, to reduce purchases in the Russian Federation itself and allow other suppliers to enter the market and actually diversify supplies. Tantrums will be arranged by those who are sitting on Russian money from the sale of gas - Schroeder and others like him. I would not be surprised if Merkel already has an office ready and a warm, well-paid (at the expense of Europeans' wallets) position in Gazprom :)
But the patronage of Putin and co is starting to lose ground, not all European politicians are corrupt. Most likely, for another 2-4 years, this picture will persist until new channels for gas supply to the EU appear ... And let the Russian Federation begin to think about where to store gas and where to give it "for thanks", after the loss of consumers in the EU ... In Russia itself, there are not enough gas storage facilities; for this, storage facilities in Ukraine have always been used. And if we talk about consumers, then only in the EU politicians "lobbied" for an almost monopoly purchase from the Russian Federation, and in China it will not work to bribe ministers, the maximum they will agree to is to take gas for free, which the Russian Federation cannot sell :)

Prices for fuel right now are getting lower. Here in the country, it is getting lower, but I think after a rollback, another big rise will occur soon. The reason why the price is rising this month is the shortage of fuel since the pandemic has lessened and the economy is opening. That's why the demand for fuel is getting higher but the production is still like in a pandemic situation. I am hoping that it will lower and stabilize since the price is too high and not very affordable right now. People right now do not have a lot of spare money. 

The fuel prices are going high day by day because of the rise of fuel rate in the international market.
These prices are having great impact on all other things and their prices are also going high day by day in terms of fuel adjustment charges.
This is probably the eight years high price because of the reason that the economy is facing challenges after the Corona outbreak and till now they are recovering to their previous position.

Fuel prices continue climbing once again, with Crude and Brent barrel price surpassing $84 and $86 respectively. The situation is getting out of hand, with Unleaded 95 petrol now costing €1.838 per liter, and regular diesel €1.538 per liter. Fueling up, the average car now would cost €82.70 (45 liter tank) for petrol, and almost €65 for diesel.

We're only a few months away from the upcoming tourist season in Greece, will price levels ever return to normal or will they simply continue to rise, especially when the new season starts.

The ridiculous thing about this oil crisis is that it's not even captured by the inflation figures that we have.

Fuel prices are excluded from "underlying" or "core" inflation, which means that the actual inflation figures when taking into account volatile goods is probably in the double digits for most countries now.

This is precisely why you need to diversify out of fiat assets. They WILL lose purchasing power as a function of time.

Brent crude at $86.06 per barrel, with a bullish outlook. This is extremely concerning for oil importing countries such as China, Japan and India. And at the same time, this is going to further worsen the inflation crisis in the West. One interesting thing to note here is that the shale oil producers in the United States are ramping up their production, especially in formations such as Permian and Eagle Ford. And this influx has resulted in a spread of $2-$3 between West Texas Intermediate (WTI) crude and the Brent Crude.

That's interesting, I didn't actually know that, I thought that inflation also included gas prices, but it seems like it doesn't. The increasing inflation, along with the energy crisis (fuel, electricity prices etc.) are dramatically reducing our available income. It's astonishing because I believed that it was dying down a month ago, with Crude barrel's price going below $60-65.

And I also expect it to rise furthermore in the near future, it has an increasing trend, we're definitely going to face higher prices in the near future, while inflation is getting worse and worse.

Fuel prices continue rising here in Greece, costing €1.89/liter for Unleaded 95 petrol and €1.60/liter for diesel. Crude oil price has settled at approximately $90 per barrel, surpassing 15% rise in price just in January, while many energy analysts predict that it will soon rise over $100/barrel.

I never expected the situation to turn like this, along with the rising inflation, higher prices and so on, is making the whole condition depressing.

Here too as well. Usually I notice the price of Petrol and often I ignore the price of Diesel. Today I had to go to a petrol bunk near me and and noticed Diesel more than $1.20 Plus. Where are we moving towards. Have a plan of buying a car. So thought if it would be correct to go for a electric car or a car with either diesel or petrol. I am sure the price will increase more. Even other products price as well has gone high due to this fuel price increase. But the salary remains the same. Sad.

It's a vicious cycle, transportation costs have skyrocketed, leading to price increases in the majority of products found in the supermarket. We supposedly received a 2% raise on minimum wage, which is nothing compared to what inflation has caused. Personally, I'd wait in case I wanted to buy a vehicle, wanted to buy a motorcycle in the next few months but not sure how I'll proceed.

Where are you from, if you don't mind me asking?

When buying a car or motorcycle then you would really be thinking off if it would really be worth or you could really save up but if you do see that commuting would still save you up then
then its your choice to halt such decision but if you do really love that comfort and privacy by having a car without minding about spending on gas or diesel then go ahead.
Prices not only on fuel but also in other things as well like food etc. . The thing we do need is to have other source of income on at least able to
sustain ourselves on this condition.

According to what I read on Bloomberg on February 1 last, reportedly the increase was triggered by the current geopolitical problem between Ukraine and Russia, the ongoing conflict on the border between the two countries has made world oil prices rise by $88.26 per barrel.
Organization of the Petroleum Exporting Countries (OPEC), will try to reduce the increasing price increase, by OPEC plans to increase the amount of oil supply later to be able to reduce world oil prices, but even so, certainly oil prices will not be able to immediately fall rapidly and it is likely that these countries will take profit advantage of rising oil prices first before they return to stabilizing oil prices.

Right now, brent is being traded at $89.99 per barrel. It is just a matter of time before we get to three digits. There are two important reasons for this spike. First of all, the inflation rate in the US is going up and the purchasing power of the US Dollar is in freefall. And secondly, the COVID situation is improving around the world and this has resulted in a surge in demand for crude oil. At the same time, the oil production has remained flat. Even the shale oil producers within the United States are not rushing in to increase their production.

It's at $91 right now, steadily rising the whole week, it's definitely going to surpass $100 soon. The geopolitical tension created by Ukraine and Russia is said to be one of the causes for the price spike, however, multiple factors have led us to this situation, which is only going to get worse.

Only the announcement of Omicron managed to dent the demand, but that incident was short-lived.

No, and that's one of the reasons why the inflation reports are skewed, i.e., it can "feel" like inflation is much higher than what the government is telling you.  Even consider things like stocks and bitcoin--those are both rocketing up in value (price), but they're obviously not included in the inflation numbers even though their prices are being inflated over time.

By the way, gas prices are still pretty high in my area, but they haven't gone up much (if at all) since I last posted in this thread.  I don't really keep an eye on oil prices--or even gas prices--but I'd guess that if gas were to start going for over $4/gallon, I'd be hearing about it on the news.  But even still, gas was more expensive than that back in 2004 or so, when the dollar was worth slightly less.  So $3.50/gallon is high but not record-breaking high, and I know it's way more expensive in other parts of the world.

It was already been anticipated on previous year.

https://www.local10.com/news/local/2022/01/19/several-issues-lead-experts-to-predict-rise-in-gas-prices-as-we-get-further-into-2022/
https://www.forbes.com/sites/daneberhart/2022/01/10/drivers-should-prepare-for-higher-prices-at-the-pump-in-2022/?sh=5e716e153940

Not really bad to read it up yet this would give out at least some idea on why we are on this condition.

I work at a gas station, thus, I see these changes on the spot. We've been updating our prices every one or two days, for the past two weeks, it's both depressing and tiring. Not to mention how annoying customer moaning and complaints are, people are starting to tire out with the situation, which is about to become worse and worse, especially when filling up your car consists more than 1/10th of your monthly salary.

Before that issue came out, the price of fuel was already increasing.

And it became higher when this issue has came out and now, we can't nothing but just to accept that these price hikes would keep going on until that conflict with Russia and Ukraine is solved.

There's just a price hike in the local station two weeks ago and then last week, there's another hike and I guess by next week, there will be another one.

Fuel prices continue soaring, after Putin's Invasion in Ukraine, surpassing $100 in 23th of February, for the first time after 14 years. Unleaded 95 petrol now costs €1.95/liter and diesel €1.66, fueling up an average car with a 40-45 liter tank would now cost somewhere between €78 - €87 for petrol and €66 - €75 for diesel. Such fueling costs are disastrous for the average household, which could possibly account for 1/6th of an individual's income.

Hopefully (or maybe not), Russia's energy sector was excluded from the sanctions, which resulted in a 20% drop in oil and energy prices.

 I am guessing that some deals are getting done between the west and Saudi Arabia right at this moment. Since Russia is the "bad" guy whereas Saudis are using the guns they bought from the west and use it to kill Yemeni people, and not westerners, west still loves the horrible anti-human right Saudi kings and princes. They have a ton of oil as well and could help west nations to get back on track without the need of Russians. Thats when the prices will start to lower, its going to take a while for the infastructure to be done, but the oil is there and they could potentially recover all the lost oil from Russia just from one single nation.

Yep - core inflation does not capture any of the oil price shocks.

Brent Crude hitting $100/gallon is only going to be the start of this oil crisis. War takes oil, and the sanctions doesn't help the cause.

Hopefully the Fed does something about the inflation domestically while concentrating on the abroad situation as well. Otherwise, they'd be shooting themselves in the foot as their domestic citizens will suffer a terrible fate as well. Although, I'm not confident that they'll actually do anything.

Brent crude is now once again trading at double digits ($97.93 per barrel, when I last checked). Still this is almost 120% higher than the level we had during the Trump days. Russian invasion is just one of the minor factors that are having an impact on the oil prices. The real reason why the prices have gone up by this much is due to the policy changes from Biden administration (such as banning of fracking in federal lands and suspension of major pipeline projects). And in the end, all the oil consuming countries are witnessing a major rise in inflation, including the US.

Of course, this situation wasn't caused by the Russian invasion, however, it didn't help either, which was why oil prices surpassed $100/barrel a few days ago. A variety of reasons have caused this excessive rise in prices, such as Covid-19, and definitely political reasons, along with the rising inflation, it's a recipe for disaster, for the average household.

This post was originally from October last year and wouldn't you know, it's at an ath again. Thanks Putin! Even if you're getting your oil from Gulf States the prices would still skyrocket. If ever they get sanction Russia and it includes their ability to sell oil, prices could probably go even higher than it is the past few weeks.

See the irony. The Russo-Ukrainian crisis is causing the oil prices to skyrocket, which in turn means tens of billions of USD worth of additional revenues to the Russian war chest. Biden caused this with his stupid energy policies. During Trump era, crude oil was trading at $40-50 per barrel and Putin would have never thought about invading any other country. And he is bringing additional sanctions to target the Russian oil industry in the long term, which will not have any immediate impact on the oil prices. BTW, Brent Crude is now back to three digits.

Do you think that these oil prices over 100$ per barrel will be sustainable ? I think its just a tempoarary rise in the price in reaction to the current situation. Once the situation  normalizes, we can again see the fuel prices going down.

In case, the war is prolonged or there is some sort of nuclear weapons are are used and destruction is on a massive scale, then we may see even 200$ per barrel price but this will only happen in case of very bad situation.

I believe that it's going to be temporary but this is the logical thing that many have observed whenever oil price increases. It's easy to increase but whenever it's about to go down, there's should be a big market postponement just like during the first week of lock downs worldwide. Fuel's price was actually down by that time and it hit an all time low. While on this time, it's going all time high due to the war of Russia and Ukraine. I think that when these countries becomes stable and the war has ended, we're going to see a stable price again for the fuel/oil but it will no longer be that low just as before.

Yes, it would take a while before sanctions on Russian oil make any difference to Putin's income. I also doubt that the EU is just going to stop buying Russian oil/gas at this time, that would probably wait till April.

Certainly not, it's going to be a temporary situation, however, oil prices were flirting with the $100 mark even before Putin invaded Ukraine. The condition was already dreadful, but it now got even worse, and it's condemned to worsen in the near future. The least thing that we'll care about if a nuclear war starts, is fuel prices.

As I've mentioned in another post, petrol has now surpassed €2/liter in quite a few areas here. The main concern is the rising inflation, in combination with the high fuel and energy prices, are creating an unbearable situation.

The condition is becoming worse and worse with Crude and Brent oil prices surpassing $110/barrel, with an uprising trend. It achieved an almost 7% increase within 24 hours. Petrol here now costs €1.98/liter and €1.70/liter for diesel. Along with the rising inflation, which is expected to surpass 7-8% for February.

This is depressing to say the least.

The answer is yes, and it is having a detrimental effect on everyone. When you consider that the vast majority of people purchased a vehicle in order to save money, our lives become more complicated. A further factor is that, as you can see, the cost of goods is rising, making it extremely difficult for those with limited financial resources to make ends meet. The future will be extremely difficult for those who earn less than the minimum wage or less than the living wage if this trend continues. wishing that it will be put an end to, as well as the war with Russia, as everyone is going insane due to the high prices at the moment

Oil is needed in our everyday life so it's not surprising that the demand is heavy and oil is also hard to produce so its supply is limited, this can drive the price to rise. There is a war that happened recently and your right, the price of oil did really increase.

We all wish that wars will now stop and there will be no more wars in the future because the effect is very devastating but it cant be avoided and there will be times that another new war will spark again. The effects would depend on the duration of the war or if how big is the damage. It can disrupt an economy but the economy still continues to run because they learn how to adapt.

I'm trying not to moan and groan about the situation, since there are people who are certainly in a worse position than I am (in terms of financial stability, political situation, etc). There is currently a war going on, not far from our borders, it sounds petty to moan about the increasing cost of living, when there are people fighting for their lives (and not only in Ukraine, Syria, Iraq, Iran have been devastated by wars). Anyway, I'm generally an anxious person, thus, my own anxiety when thinking about the future can easily swallow me. Thankfully, Bitcointalk and Bitcoin itself have severely assisted me financially.The economy does continue to run and adapt, that's for sure, people on the other hand, beg to differ.

Two weeks ago I learned that the oil that was dispatched across my country Nigeria is mixed, and since some of the petrol stations have stopped selling, so due to this the available ones are filled up. Before now a liter is 162Naira, it increased to 165 Naira and at present, some filling station sells at 250 Naira and even with the surge in the price you will wait for nothing less than 2 hours if you are lucky to get fuel early but we still have some which sell at 162 Naira but be ready to spend the whole day at the filling station because of the queue. Some people get to the filling station as early as 6 am just to avoid the queue.

God save you guys! The under developing countries are worst hit as always. I mean even the developed countries and developing one are having issues with the petrol and diesele price hike issues and this is all because of the crude oil getting pitty heavy to extract and also distribute. The rumours are now spreading that with the Russia and Ukraine war, things gonna get pretty heated up across the globe. As a result of war, they will need fuel, inflation will rise and thus ultimately the cost will be seen rising for the common man like you and me. Since we not talking about county, or country, we talking about whole continent getting separated out from the national economy. So yup, whether its fuel or other sources, everything is going to be diamond costly!  ::)

For those who could afford then this wont really be an issue but of us who are just ordinary citizens plus having those average income will surely get affect or hit hard on these climbing prices
not only limited on petrol alone but also in other necessities as well which do really sucks.If you dont find other way on getting other source of income then you would be fucked up.
Living daily would really be a struggle not only via means of transportation but also on the food that you do eat.

If the EU stops buying Russian oil, then it will hurt them more than it will ever hurt Putin. Because Russia is the closest source of petroleum for them. Transporting all the oil from the GCC nations can be expensive. Also, the refineries in the European Union are specifically designed to process the type of crude oil that Russia produces. They require additional modifications to enable them to use crude from elsewhere. And Russia will be impacted, but not much. They can easily sell their oil at a small discount to China and India.

Fuel will always be an important issue in the future, the increasing demand for oil makes many big countries expand to many countries, the presence of alternative energy has not been able to have any impact so I believe that fuel prices can reach at least 10x in 50 years.

It would've been solved already if the governments made any efforts to switch to renewable energy and we could've possibly solved the problem of renewable energy intermittence a long time ago but no, they wanted to keep Middle East a relevant region so they continue relying on oil. This will continue as long as we have dependence on oil, probably we will only go with renewable when it's already too late.

Fossil energy is still the mainstream of the world. Now many scientists have different opinions on renewable energy.
One of the reasons for the rise in oil prices is because of the outbreak of war. Many people have the intention of condemning the rise in oil prices.
New energy projects may sprout up during this time. We can keep watching.

Crude prices are just blasting off to space. The last time I checked, Brent Crude was trading at $118 per barrel, which is almost 100% higher than the rate we were having one year back. And the biggest joke is that all of this is just helping Putin. He is earning billions of USD in additional revenue, with each $1 rise in the crude oil price. The US and it's NATO allies are becoming a laughing stock here. On one hand they are imposing embargoes which results in a price spike for crude oil. And on the other hand, Putin is getting richer as a result.

I started this thread back on 8th of October, recording an eight-year-high record, with petrol surpassing €1.75/liter and diesel €1.45/liter, while heating gas oil costed €1.12-1.15 if I remember correctly
Currently, we're sitting at €2.06/liter for 95 Unleaded petrol and Diesel €1.85/liter, it's astonishing that €1.75 appeared too high a few months ago, only to be proven wrong shortly after.
As you've already said, and I've mentioned in the past, that these sanctions are not hurting Russia, they might be hurting its citizens but not Putin himself. As a result, Crude oil prices have surpassed $118/barrel, which is subject to worsen in the near future.

Everyone who invests in oil can become richer. We don't know Putin's personal portfolio, but with all that's happening I wouldn't be counting my money if I were him but rather think if I'll ever be able to spend all of it. If he is sentenced as a war criminal it's all for nothing and this is where things are going.

I wonder if these oil prices will end up destroying weaker fiat currencies in the EU. We all know what was happening to the lira and now more countries are facing extreme inflation and businesses that operate on tight margins and rely on road transport, like food delivery, will face bankruptcy due to gas prices going 2x. Bankruptcies will only speed up inflation and we'll all get stock market crashes similar to the one in Russia.

About a month ago I wrote this in this thread:


At the time I think gas was going for $2.57/gallon or thereabouts, which was the price it'd been at for months.  Now I look out my window at the local gas station and a gallon of gas is going for $4.38!  That gigantic leap has happened in the past week or so (as I said in my previous post I don't track oil/gas prices), certainly it's been since the Russia/Ukraine war. 

I can't imagine this is going to get any better anytime soon, and this is going to hit a lot of innocent bystanders hard in their pocketbooks.  Not just in the US but around the world--I'd imagine in Europe it's even worse. 

That's the truth, brother.  Putin, like all world leaders, is insulated against the effects of sanctions; it's the average citizen that takes it up the butt because of stupid, stupid political decisions.

Our car is an SUV and damn, usually when I'm half tank it would only costs me around $30 to be full tank. But due to the continuous hike of fuel. It has come more than $40.

A little amount for the others but that increase would be more and likely won't stop. There's another round of increase for the price by next week and makes me feel bad even I've already full tanked a day ago.

This makes me just want to stay at home and not go with those unimportant errands. I've read that some oil companies are going to let it go and flow into the supply with millions of barrels to at least ease this unstoppable price increase but I don't know when those supplies and when we shall feel the decrease.

I work at a gas station for the past 3 years, thus, I was the first to notice price fluctuations. Usually, the prices would gradually increase with the start of the tourism season, somewhere from April to June, till they stabilize somewhere in August, where it's the peak of the tourism season in Greece. Undoubtedly, fuel was always expensive in Greece, and in the past, I didn't bother much about a 2-3 cent increase, but now it has gotten out of reach. My car is sitting at almost empty, if I am to fill it up to the top, I'll need approximately 40-45 liters, which equals to approximately 90-95 euros. This is about 1/7 or 1/8th of my total monthly income.

The rising fuel prices really make me worry. It was to be expected that a new major conflict is going to make the energy prices soar, but at the rate we are seeing right now is alarming. The gas stations seem to change their prices two times a day. What is very surprising right now is that Diesel prices are even more expensive than normal fuel. Diesel was usually cheaper than other fuel types, but since Russia is a big exporter for Diesel that doesn't hold true anymore.
The big issue with rising fuel prices is that we already have high inflation rates last year. Food prices are rising, construction materials are at an all time high, and now fuel and energy prices are following. If this continues than we could face a inflation spiral that will increase all other prices too. Once all the consumer prices reach new all time highs, wages have to rise also. I wonder how the politicians are going to solve that dilemma.

That's something I also noticed in the gas station. The past week or two, we've been changing the prices almost on a daily basis, it appears that diesel is increasing in larger increments than petrol.

For instance, on Wednesday, we received a notification to update the prices, petrol increased from €1.998 to €2.028, while diesel increased from €1.728 to €1.778, respectively yesterday, petrol rised from €2.028 to €2.058, and diesel up to €1.848. Thus, you can easily notice that petrol rises in increments of 2-3 cents, while diesel those of 5-7 cents. It's astonishing that these changes happen almost on a daily basis.

It also affects here in the Philippines. In my city right now, public transport drivers are planning to have a transport strike for 5 consecutive days asking the Department of Transportation to increase the jeepney fare from 10 Philippine pesos to 15 Philippine pesos. The ongoing Ukraine-Russia war plays a big factor here for increasing fuel prices as the latter was the major exporter for both oil and gas.

Most of the European countries like Germany are relying heavily on Russia’s oil and fuel exports. So cutting them off would be very challenging for them as other countries are intensifying sanctions on Russia due to Putin’s draconian moves in invading Ukraine.

P.S. Good thing that I didn’t sold my electric scooter after I only used it for like 3-4 times, just in case transport strike or any public transportation restriction happens.

A little update, today I had a day off, we're pretty much changing prices on a daily basis, increasing in increments of 3-5 cents at a time, it's depressing.
These photos got sent to me by a colleague, prices are updated at almost the same time, every day, somewhere between 2-4 o'clock. Both photos display the new updated prices, one is for fuels while the second one is for heating gas oil.

They are expected to rise even further in the upcoming days, it's making life slowly miserable.
https://i.ibb.co/GccBV5Z/Inked-Inked275258213-265595122441898-7877040488055176283-n-LI.jpg (https://ibb.co/YppYtL5)
https://i.ibb.co/nPt4rv7/275356218-1052094018731065-2330609343652190863-n.jpg (https://ibb.co/7kLBv5n)

Oil prices have lost value the past 2 days (WTI Crude and Brent oil), dropping from $130 to approximately $110-112. Certainly not reassuring, but I guess it's better than nothing. Unleaded 95 petrol now costs €2.158/liter and diesel €1.998/liter in my area, a slight increase from my previous post. Rumors mention that the UAE might increase production, in an effort to replace Russia's imports, however, my knowledge on the subject is limited.

Each country has a greater restriction given the use of gasoline, especially those that have always imported gasoline, it is something normal, at the moment that Russia is blocking it, they have already made the decision not to buy Russian oil at least in the USA, and that It also affects gasoline, because gasoline is obtained from oil, and as the constant flow of oil in the world decreases, they have to depend on the Arab countries and some with high oil potential such as Venezuela, it currently surprises me how Biden is negotiating with Venezuela to guarantee the oil and therefore not suffer for it and intrinsically in Venezuela as gasoline is paid for with international tariffs, this means that the oil and gasoline business model in the world will become increasingly difficult, it will even become more expensive.

I wonder why the Americans are still tolerating this loser called Biden. When Trump was in power, the crude oil prices were hovering at around $40 per barrel. Since then the prices have risen by more than 200%. And the Russian invasion had only a small impact on this. The crude prices were already close to $100 per barrel, when Russia started its invasion. The real reason for the price rise is stupid policies from Biden, such as the termination of Keystone XL pipeline and prohibition of fracking in federal lands.

That's correct, crude oil prices were already high enough before the invasion, the invasion didn't play that huge of a role in the current situation. It is true that we're now facing major records in electricity and fueling costs, however, it was a pre-existing situation, while the imposed sanctions in this case aren't helping at all.

I've seen that in USA they're selling stickers of Biden "I did this", and sticking them to gas pumps. ::)

After the pandemic many switched to remote jobs making the demand for fuel skyrocketing. And since the supply is less than the demand there is no other options than a price upsurge. And many petrochemical companies has choosed to reduce their production rate in fear of another dreadful pandemic that could short down production process again.

This is not just an issue in Europe it seems to be a global challenge seeing that so many countries also have limited supply of fuel even when the need for it is on the high demand and this has even led to low quality production in some under developed countries

Mainly because they are not as brainwashed as you are. Because, it was around 50+ when Trump was in power almost all the time except a few times. Secondly, Biden is not the reason why the oil prices are high in the USA, you do realize that it is high ALL OVER THE WORLD right? I mean when you do not take oil from Russia and put sanctions against them, you are going to have a higher price on oil, and this is done by the whole world and not just Biden.

Secondly, even during a time like that, and even while west is still suffering a lot, Biden figured out a cheaper way by dealing with Venezuela and got them out, and the price dropped $30 overnight with one signature from him. Keystone XL would have covered literally 1.5% of all the needs, and you are brainwashed because you think that would drop the price significantly somehow, that would be like maybe 1.5 dollars drop on price even on a great day.

So, you can keep on making yourself believe that Trump was good. But Biden has been amazing for rest of us.

This is because of the economic sanctions that were given to Russia, but as a result, we are also suffering from the closing of those pipes. I think the war between Russia and Ukraine is the reason why the prices are higher now. If President Trump were still in office, I think Putin wouldn't be starting a war with Ukraine because he  will also start a war with Russia. That is why Putin is really eager about this because he knows that it is only an economic sanction that biden will do

LOL.. let others decide who is brainwashed here. The issue is not about 1.5% or 15%. Even a 1.5% shortfall in supply (combined with further reductions from other issues) can double or triple the price of crude oil. The United States remain as the top oil producer in the world and it exports millions of barrels of crude every day to other countries (including India and China). You are retarded, if you believe that the impact from Biden's policies will be limited to the United States. And let me know the cheaper way in dealing with Venezuela. Do you even know how much oil Venezuela produces, in comparison with Russia?

In my country fuel price growth has stopped. They have increased for 25% in a short period of time. The prices has dropped few cents and gained sort of a stability. In my country excise tax influence greatly on fuel price, but I havent seen any changes or news in connection with tax concessions. I know that in some countries, government cover part of fuel price through excise tax reduction. What about prices in your countries?

According to Oilprices.com, WTI Crude and Brent Crude oil are trading below $100 ($95 and $100 respectively), slowly retracting to pre-invasion levels, during which surpassed $130/barrel. It's definitely good news, could possibly result in a slight relief in the market, however, the $200/barrel scenario hasn't been debunked yet, with the condition still being heated in Ukraine. The slight retraction in prices is a result of China's new lockdown, due to an increasing number of cases, and due to talks with Canada and UAE to boost their supply, at least that's what I know so far.

Despite the rapid loss in value, in my area atleast, we've only seen an increase of 3 cents per liter on petrol and diesel, while heating gas oil was met with the largest fall of all, dropping from €1.668 to €1.539.

On the other hand, in my area, the increase is already at about 14 cents, which is hard for small users. And I believe, this will still continue in the world market. This war has indeed real impact in the gas sector. Our governments should look for alternative options because small consumers are getting hit hard by this oil price's increase in the world market. After this war situation, it may possibly gets worse. So we need to be prepared for what's to come.

What goes up must come down and this is the situation we are looking or seeing on on oil market.
https://tradingeconomics.com/commodity/crude-oil

It is true that those rises did really take a hit worlwide but we wont really be staying up forever.Hope that it would
decrease even more on upcoming months to come.

I agree with a quotation "what goes up, must go down", but I did not expect it to happen so quickly if we take into consideration economy of the whole world. The war still continues, sanctions are still being proposed and etc. Nothing really has change, in fact, situation got worse. Despite all that, we observe fuel prices start to go down. How is it possible? Can it be, that fuel price were increased on purpose week ago? That is was made on purpose?

The majority of the news I could find in our country indicated that those who work in the transportation industry were considering suspending their operations for the time being because they were spending more money than they were earning as a result of the current oil price, for which we can't really blame them. As we have seen, those with low incomes are the most affected, as they can barely afford to buy food due to a lack of funds, and as you can see, almost all foods are now extremely expensive and difficult to obtain; those with higher incomes are also more vulnerable.

It seems the issue of increasing fuel prices is a global issue because in my locale, we are still experiencing same challenges, i can't say it is directly linked to the Russian-Ukraine crisis, but the cost of PMS has gone up and the increment has directly influenced the cost of other commodities. With these developments, Innovations like the Tesla and other electrically powered vehicles will be the next sort after.

Seriously we need to diversify and stop the complete dependence on fuel and petroleum products alone for power, there should be ample alternatives of power for everyone to use the one best suited to them. If this had been the case, the effects of increasing fuel price will not be as dire as it is currently.

Hang in there, the situation is far from de-escalation, a quick look at Oilprices.com, and you'll see that crude oil is rebounding, due to market fears regarding Russia's supply, surpassing $100 once again. Oil prices are expected to be highly volatile, till the Ukrainian issue is resolved, which isn't going to happen anytime soon.

That's sad, I was welcomed by a significantly lower price when I got to work today, but it's definitely not going to last long.

The main concern in the market is that there will be embargoes on crude oil shipments from Russia. If Russia want to transport oil to countries such as India, then they can do so only through sea. And that means that the oil tankers need to cross the Suez channel, or the strait of Malacca. And there is always a chance that the US and it's allies may seize the cargoes at some point during the journey. If this happens, there is a shortfall in crude supply and the prices can go to astronomic levels ($300 per barrel?).

At present, there are various political decisions, including war, behind the rise in oil prices. Oil prices continue to rise due to sanctions on Russia's oil exports and various decisions by the world's largest oil producers. It is only natural that Venezuela, along with Iran, would not suddenly increase oil production in the words of other allies, including the United States, due to years of sanctions on several oil-producing countries. In order to meet their objectives, a number of countries have set conditions for increasing oil production that cannot be fully met. Current economic oil is an important regulator and it is impossible to imagine modern civilization without it. Therefore, every country is emphasizing on stockpiling of fuel instead of price to keep its energy demand and supply right so that the price of fuel continues to rise.

Then it is about time to buy a bicycle. Because I think Ukrainian-Russian conflict is not going to be settled this year. Even if the global war actions stops, it will always be small local skirmishes. Same that were after Crimea conflict. This seems like an endless conflict, were people dont even know or remember the reasons why it all started.

Current economical downtrend Russia is going to counter with high oil prices. I think 2022 will be the year when everyone will realize consequences if this war actions. Next year sides will figure out strategy to get business and development back. Several years it will take to rebuild, build own new business, get abroad contracts, or wait till current business who has abandoned Russian market, start to think to return. Maybe year 2025 and further will be the time when prices goes down.

Russia that invasion to Ukraine makes many countries worry so they do maximum stock, when a war occurs, many oil companies will reduce or stop operations so that they will make prices skyrocket. I'm sure the year now the price of oil will continue to rise because reports from many oil companies that decrease stocks decrease

The Philippines is also experiencing pains in the growth of fuel prices. There are some organization who proposed to suspend excise tax for now, but the Philippine president declined. He said that cancelling the excise tax on fuel would mean big losses for the Philippine government to be able to pay their employees, service workers like the policemen, etc. But instead, he chose to give each poor family around $4.00 per month, which isn’t enough even for a 3rd world country.

On Monday, the city that I will live in will be having a 2-day transport strike which means all public utility vehicles aren’t gonna be on duty (e.g., jeepneys, tricycles, taxis, etc.) to cater the passengers during that day as a sign of protest in the increase of fuel and commodity prices. Good thing I didn’t sell my e-scooter which I only used it like 3 times but maintaining it by recharging every month, so I can use this when I am going to malls, etc.

I've got three to be honest, haven't bothered to use them yet, lol. 2022 won't only be the year that we'll realize this war's consequences, but also the year that we'll face the repercussions of Covid-19's quarantine measures and lockdowns, which have resulted in economic depression, increased inflation, fueling and energy costs.

Well, that's one more terrible year to go, I guess.

We dont know if it would be only 1 terrible year to go or would be more since we dont actually knows on what are the things that would happen in the future whether there would be more wars
or even this pandemic would never end but looking at on the current situation on which we are really already recouping up on the bad situation that we do have in past years and slowly
this pandemic come to an end and we do have other issues and problems now about the War which do really affects out commodities like Fuel and other things which do really
make our living more worst.

In what country do you live? is the situation not really good on there? if yes then it's a must thing to do because people won't afford it anymore if they keep on increasing the price and what happens next is the business will collapse because they cannot get adequate customers anymore. A 25 percent increase over a short period of time is already too much but I think they have a reason with this and all people understand this already.

The OP posted this last year where the price is already high even if there is no wars that time or sanctions but how much more now? I think the op can't believe his eyes the moment he saws that fuel price have sky rocketed once again.

I believe that we're going to experience a series of more expensive goods, fuel and electricity. Prices will lower towards the end of the year, however, they certainly won't return to pre-pandemic levels. Especially with the current situation in Ukraine, a possible embargo from Russia could potentially send barrel's price up to $200.

I guess that eventually, we'll have to get used to a more expensive lifestyle.

I think that Biden is somewhat desperate, lately the negotiations with Venezuela have fallen apart, because the visit of the Colombian president to the White House, basically the Colombian president went to sell oil and since Colombia is much more a friend of the USA than Venezuela, the business was knocked down, the only thing is that politics was exposed, and the high lack of ethics on the part of the USA, this causes uncertainty, because the most experienced will say that Biden's despair is obvious, then this will generate that oil goes down, if the war worsens Colombia will probably suffer, because if the USA gets involved then it is the first country that the Russians will attack because they are allies of the USA, this could be greatly complicated by Biden's decisions.

I just checked the real-time crude oil prices online:
https://oilprice.com/oil-price-charts/#prices

Brent is currently trading at $107.93 per barrel, which is an increase of around 2.6x from the Trump times. That said, the Russian crude is trading at a very heavy discount. ESPO is currently trading at $85.66 per barrel, which is 21% lower when compared to the Brent prices. Sokol crude is currently trading at $89.87 per barrel. Once again, 17% lower when compared to Brent.

This is good news for importers of Russian crude, such as China and India. But at the same time, it shows the ineffectiveness of the sanctions. Russian crude is still being sold and the Europeans are importing crude from as far as Venezuela, increasing their own costs.

I never liked the idea of sanctions, I was one of the first ones to point out their ineffectiveness, which will ultimately hurt Europe more than it will hurt Russia. As you've pointed out, Russia continues exporting oil to in other Asian countries, who are of course, willing to take advantage of the lower price.

Correct!. Europe will be the one to suffer the most because it obeys the US to impose harsh sanctions on Russia. Europe is paying a very high price to buy oil from Venezuela and Iran. Besides, they also have to lift the embargo against Venezuela to be able to import oil from them.

I also predicted that sanctions would not have a big impact on Russia, because they have big business friends from Asia. China and India are very willing to buy oil from Russia at bargain prices.

Uh, Russia is a superpower, you can't do much to actually hurt them, they could easily be self-sustainable, while their Asian neighbouring countries are huge, they could use the higher supply of oil. It's not like they imposed sanctions in a small European country, I don't get if government are actually that stupid to believe that sanctions would affect Russia.

We're going to suffer the consequences of this war, potentially worse than Russia themselves, we'll have to get used to a long-term period of higher living costs.

Same situation here in our country Pakistan.  The Price per liter is 151.5 Rupees/Ltr for refined and 105.6 Rupees/Ltr.
In last 2 years price of petroleum products dramatically increased and  almost doubled here. And if things continue like this, It could even go 200 Rupees/Ltr.
The reason of petroleum product high coast is totally depends upon supply and demand. The more we consume petroleum, The more we need and in whole world there are only few major refinery companies witch are controlling the whole supply chain. And there is dire need of Gas and Oil in all countries. Its like a energy race going on and every country want more.
Situation in our country is not so good. Average peoples are mostly effected by high fuel price and barely managing daily routine.

it may have immediate impact on russia but they will recover. and the heavily affected of this rising of fuel prices are small consumers. it is almost doubled the price now in my area. maybe instead of using the car, just walk for short distances. lol at least exercise for us.
but on a serious note, i believe, we are already experiencing one of the effects of this war. and the prices may possibly go up more in the next coming months. but the salary is still the same. this is not fair...

It's the same in most parts of the world that the fuel prices have doubled because of the war. And we all need to consume petroleum and other oil products for our basic needs.
This impacts the whole industries because it's an energy source and this is what really happens when the source is increasing on its value and price, everything is going to be badly hit by it. Everyone has to commute to transport goods and materials, then those products that are in transport are also going to increase on its price, a domino effect.

We're pretty much doomed, people got their hopes up after prices fell a few cents at the pump, however, Crude Oil has skyrocketed once again, surpassing $115/barrel for Brent, and $112 for WTI Crude Oil. The situation is certainly not going to get any better, due to the heated relations with Russia, a future embargo wouldn't surprise me at all. Let's keep in mind that Russia is exporting (or at least was, not sure), 3 million barrels per day, to Europe, a possible blockage from Russia would send oil prices to the moon.

Maybe, this situation is a wake up call to find alternative fuel sources. Ordinary workers are suffering from this rise of prices. But what can we do? Tighten our budget more. We don't know where to get our funds anymore to survive in this crisis. This situation is true in most parts of the world, and the only one who are not bothered are those wealthy people, who don't care whether the fuel price is already doubled in the market. We need to re-think our priorities now before we go into deep debt.

In India, GAIL (Gas Authority of India Ltd.) has signed an agreement with some of the Russian natural gas producers to import LNG cargoes from that country. The Russians are giving a steep discount. The ongoing market rates are $35 to $40 per MMBTU, while the Russians are willing to sell their cargoes for just $25 per MMBTU. This comes as a big relief for the Indian consumers, as they have been battered by very high CNG and LPG prices. In the end, this is beneficial for Russia as well. The LNG prices went up because of the sanctions. So even at a discount, Russia is making a good profit.

In my country, the average gas price is around 1,73-1,9 USD. Last year it was around 1-1.5 USD, and last week it was around 2-2,5 USD. I think this is because people are manipulated extremely easily. In my country, the price increased after a few posts on social media and on news channels showing a picture of a private gas company that increased the price by almost 40%, and after that everyone went to the gas station to refill. When there is request for a product, the price increases

Yeah, a wake up call that if there's an alternative, we should use it. For now, we really need to zip our pockets and only spend on most important things.
But if you're someone that doesn't care of the price hikes and you can still survive no matter what happens, it's all on you on how you're going to deal with it. Like dealing how cool you are with it and you're not problematic on it whilst many of us are dealing on it and really have to face and look for a way to at least save.

Did everyone notice, that during last two weeks, oil prices have dropped for 10-15%, but on the fuel stations we see only one or two cent reduction? How can this be explained, or how will you comment on that? I can only say that once again, someone is making nice profit on us.

Anyone have serious thoughts switching regular car to electric, or you think this fuel price growth is temporary? With two diesel cars in a family, more and more often I start to think about selling one and buying an electric car for small and regular rides.

That's always the case when there are price increase on the fuel. Gasoline stations are quick to add and top up those increases while if it's about a roll back, it will take time until they slash the price on their fuel products.

There's nothing we can do since it's also the government that earns from that flipflop.

I believe that this is just temporary. When the war is over then things are going to turn back normal but the question is when? I have no plans of switching into electric cars, it's not ideal where I am right now but in the future, I am planning to buy one.

Might you save one car and just use it very often or only on important errands to save some gas.

They are just simply making their stocks to be fully consumed or sell out first before they would tend to make out some adjustment on the current rollback.They could'nt just go down immediately

because if they had bought the fuel stock per barrel on a higher price then its understandable that they would need to sell it all before they would be making out those new prices or dropped down.
Its business and they would not just let it to happen that they would be selling on losses which its just a normal thing for them to do so.So its not really that shocking if you do ask me.

Prices of fuel and diesel is high in my nation. Diesel is even worst, this is already reflecting in transportation fare and prices of food in the market, the leaders in my nation are not doing enough to see things work.

Am a chemistry Degree holder and know better about fossil fuels. Its just a matter of time when we run out of organic sources and sooner or later its going to happen. So focusing on alternate energy source should be the first priority for us.
Many Countries already following green energy sources and they are getting very promising results.
The problem here is something else. big corporations are controlling energy sources and trying to sustain power balance. because a great source of world wealth derive from petroleum industry and if switching from petroleum to green energy start, they can potentially lose billion of $$.
Controlling prices and benefitting the conflicts between different nations, They can do so much then that.

Prices are rising not only for energy. Russia and Ukraine are the largest grain suppliers to Europe. Therefore, the high price will soon be not only for gas and electricity, but also for bread. Over the past two years, the European economy has not been in the best condition due to covid19 and now sanctions against Russia are being added. I don't know what will happen tomorrow...

It's most likely speculative, I work at a gas station, and I've also noticed it, however, we did see higher decreases here, the prices were still high enough for the price/barrel. Switching to electric cars isn't viable yet, they are way out of budget for the average consumer.

While Ukraine is accountable for its major grain exports, the increasing price in everyday goods has been rising since September - October, but now it has gotten out of hand.

Thanks for that input, these oligarchs really controls the market and they won't just allow that to happen in an instant for the sake of everyone. While they can still fill their pockets, they're going to do that as much as they can before every country starts going with renewable and alternative green source of energy. The oil industry is really a huge market that they just can't let go and let the people enjoy these cheaper energy sources.

I dont feel like oil companies (at least in my country) are buying oil every day, every hour, that it could impact on current fuel prices so quickly. I believe they have huge reservoirs and have bought oil weeks or months ago. Because as far as I see, petrol station reservoirs refills are not happening 24/7. I dont see tank trucks everytime I visit fuel stations. From that I made a conclusion, that fuel station reservoirs are refilled once a months or something like that. If they are refilled such rarely, then fuel companies have huge supplies, they have bought oil long time ago and now just speculate.

Some countries previously oil producers now stated out of stock and are now an oil importer, this is certainly a strong indication that oil is increasingly difficult to make demand continues to increase, China is a country that really needs oil and is currently the world's largest so many oil companies China is expanding to many countries such as in the Middle East and Africa.

Well, here in my place fuel is both have a good amount of supply and there were only few consumers compared to big cities were the streets were crowded with massive transport vehicles.
The same reason why pumping stations are gonna get a huge profit especially now that the fuel has a huge price hike because they're usually stacking enough supply.
Btw, prices were inconsistent these days, we have experience 3-4 times increase and 2 roll backs since the war began.

Crude oil is continuing to rise relentlessly, surpassing $121 for Brent oil and $115 for WTI Crude. Soon enough, we'll see the updated prices at the pumps. Unfortunately, the decrease in prices didn't last long, while a potential embargo on oil imports from Russia would be disastrous, and it's actually something that's being discussed. To make matters worse, a damage at CPC (Caspian Pipeline Consortium) in Kazakhstan may take up to a million barrels per day (BPD) off the market.

On top of that, the Greek government, would be providing a prepaid card of €40 (or €50 for those situated in islands) to cover the increased fueling costs. It's astonishing, instead of reducing the taxes, you're been given a card which will last you a mere month at most.

If this war drags on, we are the ones who will be affected the most, no one else. In my country, everything has increased in price, many families have to tighten their spending to be able to afford a month with a meagre salary. As you said it wouldn't be fair if the prices went up while our wages didn't increase a cent.
I pray that Russia and Ukraine will soon reach peace so that everything will return to normal. After the covid pandemic, we have had to go through so much loss and pain. Don't let the pain linger.

I can not believe how high these gas prices are getting, I mean it's at an 8 year high? What's next 10 year high? Personally, I don't have the money to buy a new car but if I did I would definitely get a hybrid or an electric.
For my work, I have to travel 30 minutes in each direction and that's 5 days a week. These prices are really taking a chunk out of my paycheck and it will definitely impact my spending habits on any non-essential purchases.
And, if these gas prices keep going up I may become a minimalist, I'm not kidding. I can't remember the last time I went shopping for clothes and I really need some new stuff but now is not the time. 

The situation I believe is currently hitting almost every country due to sanctions impose on Russia and hence causing supply shock.
here in my country due to the hike in price of fuel recently though we're one of the oil blessed nation, it has drastically increased the price of transportation and base on past experiences, whenever the price of fuel is increased in my country it usually affects the price of goods and commodities , so this price hike has even worsen the case here coupled with the current inflation ravaging the Economy. But all this for my view is coinsidently happening to help shift the world's dependency on fossil fuel and into Greener energy they have been advocating for years now.

Hope that you will become just a minimalist, not a follower of ascetism.

On https://oilprice.com/oil-price-charts/#prices, I see red and green indicators every day, but prices on fuel station, that I see from my window are only going up. I have even noticed, that the different in price between diesel and regular fuel is 1 euro cent only. How can this even happen? How can "clean" fuel cost same as diesel?

Fuel prices and price growth in general are already effecting my life. I have refused vising McDrive, even though McDonalds is 500m away from me (maybe my taste have changed) and I no longer get out from shops with full cart of food.

This is non-sense. I was passing by petrol station about 10 minutes ago and noticed that diesel is for 5 cents expensive then gasoline. Whole my entire drivers career I have experienced that diesel was always cost 10-20 cents less than gasoline. After 1 months of war, annual price position changed. That is gonna hit hard, as our cars are mostly diesel, I would say that diesel to gasoline car ration is 7:1.

If I had 40-50k to buy an electric car, I honestly wouldn't mind fuel prices that much, unfortunately, electric cars are out of reach for the average consumer. Filling up your car takes a huge chunk out of your paycheck, personally, it would take at least 1/8th of my salary, which is ridiculous. In the summer, I used to fill up my car at least twice a month, due to going back and forth, I don't want to be miserable and stay home all day.


Unfortunately, it doesn't look like it's going to end anytime soon, while the current sanctions put on Russia are hurting the western citizens more than they're hurting Russia's economy. Salaries aren't expected to rise anytime soon either.

The post of the OP was before the war and there were no sanctions that happened that time but now that there is, it worsens the situation making the price of the fuel triple'd or more. Do you live in a country where the oil supply are sufficient? that must be in India? because it's said that India is the second largest supplier of oil next to Russia, and after them would be Iraq/Iran but why would the price will hike there when your one of the suppliers?

Price should be in normal range only or can be lower but the effects of the sanction are not only limited to oil, that's why we also feel an increase in the price of the primary goods and others items.

Well this is a problem that continues to escalate, so it is difficult to say that they can buy oil from Venezuela when their US counterpart or ally is buying oil from Colombia when they first made some rapprochement with Venezuela, I think that at this point all of Europe should guarantee consumption Of them, they also have a serious problem with respect to gas, so due to this Colombia does not have sufficient capacity to supply all the demand, what Europe can do is quickly look for Venezuela to buy, otherwise prices will rise greatly, and gas could become much more expensive still.

Oil prices are starting to ease, as members of the International Energy Agency (IEA) agreed to join in the largest oil reserve release. That resulted in WTI Crude dropping just below $100, while Brent Crude trading at $104 per barrel. For some reason, I cannot understand, oil prices have frozen since yesterday and haven't updated, if anyone knows, I'd appreciate shedding some light.

Petrol here is still trending at approximately €2.08-2.10 per liter, while diesel at €1.80 - 1.90, which is also subsidized by the government (€0.12/liter). Hopefully, I believe that there will be some kind of relief in gas pumps, however, fuel costs will be far from what they were a few months ago.

It has been a while since we have discussed fuel prices. I've noticed, that during last 2 weeks fuel prices on gas stations are going down every day. During 2 weeks, petrol and diesel prices have decreased for 20%. In addition, diesel started again to cost less than petrol. What about the situation in your country?

I havent been following news about oil prices lately (did not want to get disappointed once again), but I see they are decreasing. I am sure that I havent seen lately news about new suppliers, partnerships and etc on my local news portals, also the Ukraine-Russian war continues. But the situation with fuel is improving. What is this? Improvement or preparation for even worse ?

Oil prices are slightly down.. but still hovering around the $95-$100 level. American prices, as usual are around $5 to $10 per barrel lower than the Brent. Synthetic crude from Canada is trading at $70-$75 per barrel, while Saudi and the other GCC nations are selling their crude at a premium of $10 to $15 per barrel. But here in India, the gasoline/diesel prices haven't gone down. The oil companies are refusing to reduce prices any further, because they are claiming that they are incurring a loss of around $0.20-$0.25 per liter due to pricing restrictions imposed by the government.

Yes, oil prices have been down for a while, I don't remember exactly but maybe 2 weeks as you say. As far as I know, this decline is not related to the hostility of Russia and Ukraine but to the US having a second consecutive negative growth. As a result, fears of a recession will reduce spending significantly worldwide, driving down energy prices.

It is difficult to talk about the situation now until the end of the year, but personally I see that things will get worse, once the war continues, things will not get better.

I noticed the oil price decrease in our country as well about a week ago. It lightens up slightly our struggle due to expensive oil prices. But the price of primary goods in our country is still increasing despite the oil price decrease. I think it's something that our government should focus on. I just hope that price won't strike high again because it really hits the global economy negatively and ordinary people are suffering.

The prices are NOT down due to economic slowdown. I had posted about this multiple times. Americans have been emptying their Strategic Petroleum Reserve (SPR) at a record pace and this has resulted in a slight oversupply in the market. And Biden administration is doing this so that Democrat party would perform better in the mid-term elections. But the problem is that once the mid-term elections are over (in less than three months), they will stop doing this. And the prices will rebound once that happens.

As you say, behind this oil price drop there is a political motive and it comes from the US. The politics of their country is becoming rotten and corrupt, they do everything for their power and they don't care about the feelings of others. They do not use any tricks to achieve the goal. If it's true what you say, the CPI, it's all fake, the crisis will come back soon and the inflation hasn't really peaked yet.

I'm glad that someone revived this thread, I was planning to do it myself too. Prices have dropped from €2.40 down to €2.05 in my area. It's still extremely expensive but at this point, it's better than nothing. However, as Sithara007 mentioned, this is probably going to be a temporary drop in prices, since the USA is selling its oil reserves.

Since yesterday, Brent and WTI crude oil have seen major spikes in their prices, with Brent being close to surpassing $100/barrel.

I am more worried about the chances of recession if the fuel prices remain high for an extended period of time. Despite the massive selloff from SPR, the crude oil prices have remained at a level of ~$100 per barrel. And after the midterms, we can expect it to go up even further. This will result in higher inflation, unemployment and weakening of the national currencies. Tax rates will go up, and consumer spending will decrease. All of this can be prevented. Biden just need to remove the new regulations, so that the American shale oil producers can pump more oil. But as we know, he will never do that.

I agree that this is temporary. Dont know how often fuel prices in your country change, but in mine, in winter, petrol is always more expensive than in summer. I think this is due to bioadditives in fuel. But, in summer people travel more, and it will be more profitable (and unfair) to have more expensive fuel. Anyway, little decrease is better than no price decrease. I advice you to make most of that opportunity.

Interesting that you mentioned the topic of bioadditives. Here in India, we have already moved from 5% ethanol blending to 10% blending for petrol (gasoline). By April 2023, the target is to supply gasoline with 20% ethanol content. I am not sure whether it will work smoothly. The government claims that existing gasoline engines can run on 20% ethanol blend without any modifications. I am more skeptical on this. But then, we don't have any other choice. India imports around 85% of the crude oil it consumes and the prices are skyrocketing now.

It's the opposite here due to the tourism season during the summer. Increased demand, increased prices. The most I had seen before the current crisis was €1.80/liter of 95 Unleaded petrol, in August. In the meantime, that would look cheap now.

It's astonishing that crude oil prices saw a 2-day increase, from $94 to $99 for Brent oil, and gas prices have already increased in my area. On the other hand, it took days for it to actually drop when it had reached a new low after the war started. That's pure speculation.

What surprises you? How does the oil market work?
There is a purchase of the "future period", there is a purchase of the "here and now"
Accordingly, now there is oil on the market that was bought in the past at a price that was most likely very high (on expectations of further price growth). Plus, there is oil that was bought a month ago, when the price was also higher. And oil is just starting to flow, which has fallen in price, and will continue to fall in price.
In total, conditionally we have (all numbers are for an example, so that the essence of the process is clear):
65% at $150
30% at $120
5% at $95

What do you think - what price of oil will most affect TODAY's fuel price?
In order for fuel to decrease in proportion to the current price of oil, time must pass, and then the situation for reserves for processing will be as follows:
65% at $95
30% for $85
5% at $75

All talks about future trade, oil priced in, oil price are driven by speculation from summer trips,... I'm not buying it! The oil cartel just wants to drive the oil price back to high again and justify it with their trade bullshit. We're fucked as this is the summer price. If back to fall/winter, coal along with natural gas will both be in demand. Oil can follow with mark-up price based on the baseline right now.

Despite the economy is in a shabby situation. China doesn't use as much oil as before, with no domestic tours in a country with a population of 1,4 billion. God, the oil cartel truly got everyone in their string.

When Trump was the president, he kept fuel prices at a very affordable level. Back in 2020, crude oil was trading at around $40 per barrel. And then the OPEC cartel decided to support Biden in his election bid. Biden returned the favor when he became the president, by banning fracking in federal lands and cancelling the Keystone XL pipeline. Crude oil prices immediately went up by 150%. The ongoing Russo-Ukrainian war is only having a nominal impact on the prices. Most of the price rise resulted from Biden's stupid policies in 2021.

I don't know why he is doing this, the American people are also paying for that high price of fuel, not only the countries abroad. In the event that President Biden is the main cause of this price spike, then he is shooting himself in the foot because he will lose the support of the people when he runs for another term. Can you explain more?

We do not expect gas prices to ease this year. Because of the Russia-Ukraine war. And also the World Bank  warns the global economy may suffer 1970s-style stagflation. Even electric vehicles and green energy have their own disadvantages; they need high expenses and high technology, so they will take time. So the government should initiate temporary solutions like reducing tax rates etc.

It's been a while since I posted on this thread but wanted to make an update anyway. I don't get where you're seeing a possible ease on oil prices, there was a decrease in global prices the previous weeks but it was short-lived. We're already above $105/barrel of Brent oil. I'm certain that gas prices will remain at current levels for the whole 2023, unless the war, the sanctions or both end (both are unlikely).

Good for Germans. But not every country has such a developed railroad network, not every town is connected to a railroad station. Personal transport is still most popular way to get somewhere.I think it will take tens years to develop hydrogen-powered vehicles and "charging" stations for them.

Once again I observe that diesel cost more than petrol. First such think happened in the beginning of Russia - Ukraine war. What is this, just an inflation or another huge strike from Russia is expected ?

It's far from easing this year. I thought that we'll have the series of roll backs but it seems that it won't be on a spree. There's another round for the price hike for this week.

They are increasing the interest rates and that's what it should be. I just hope that most countries don't give that much aid or free money ever again because that's where the economy falls.

Look at the countries where they've got that much free, it's not sustainable but I admire those countries that are able to sustain it and gets a budget for those free money they give out.

Oil will continue to rise because world needs also continue to increase, China is the largest country that requires oil, various roads to find alternatives such as electric vehicles still do not have a significant impact. The best thing to do immediately is to reduce industries that require too much oil, and can replace with more gas.

Well.. Biden has found a short term solution. He has ordered the release of oil from the Strategic Petroleum Reserve (SPR). This is a foolish move, because the reserve need to be replenished in the short term, if it is emptied now. Biden's aim is to keep crude at a level of around $100 per barrel until the mid-term elections happen in the first week of November. Once the elections are completed, the SPR will be refilled and this will push crude towards the $150 per barrel level. If price cap is implemented on Russian oil, then it can go up even further.

It's nice to see prices slowly edging downwards in the last few weeks, but it's clearly due to reduced demand due to crazy inflation and the fact most countries are likely heading into a recession. This is the natural end result of massive borrowing and overspending - Covid threw things out of whack with a huge drop off and then a large rebound - but this upcoming dip has been due. The last major recession was in 2007 with the financial crisis and it is truly amazing that the economy has been able to sustain such a relatively inflated level lately, but it is time for a correction. Fuel should continue to drop if that is the case, even if Russia is still going crazy.

Oil has been extremely volatile lately, it's a rollercoaster. Exactly 2 days ago, in 30th of August, oil had skyrocketed once again surpassing $100/barrel and going as high as $105. Two days later, despite Gazprom's announcement that it'll be cutting off supply to Germany and France, oil has crashed below $100, trending at $96/barrel (Brent oil). In my opinion, low prices (below $100/barrel) won't be sustainable, Russia is a leading giant in oil and CNG, while their supplies won't be replenished anytime soon.

I can't fathom what they were thinking when imposing such sanctions, EU's and NATO's actions are responsible for the current state in Europe, it could have been avoided. It's one of the main reasons inflation isn't going to get any better within the next few years, while we're also facing the risk of electricity and oil supply shortages within the upcoming winter.

Biden will be 80 years old in a few months and it is rumored that he is suffering from dementia. I don't think that he is the decision maker within the US government. He may be the face of the government, but the important decisions are being taken by the far-left cabal that includes Kamala Harris and Nancy Pelosi (not to forget Hillary Clinton as well). The next POTUS elections are just two years away and it will be interesting to know who will be the nominee from the Dems. They may opt for a moderate face such as Beto O'Rourke, while Kamala/Nancy will pull the strings behind the curtain.

Rumor has it that Putin is not a grandfather, but a grandmother with grandfather's genitals, and he also dreams of a rubber ass :)
But the Ministry of Terrorism of the Russian Federation, says that they have already destroyed 44 HIMARS in Ukraine out of 20 delivered. But this is official information, and of course honest :)

Of course, the "rumor has it" argument is very strong, it's hard to disagree! :) You sometimes surprise very much! :)

But ... Let's return to the topic of the topic and reality?

So, oil today: SPOT price of Urals - 74.02 dollars per barrel. Link to source https://ru.investing.com/commodities/crude-oil-urals-spot-futures
Trend from June 2022 to today - PRICE FALL from $100+ to $74! minus 25%!

I'm sure after this phrase you wanted to say "so how much does gas cost!" :) Right ? I'm sure it's true :) So, now the price of gas is exclusively artificially driven up by one ... let's put it mildly - an economic terrorist! They have nothing left but gas terror, because it is already much closer than on the horizon, and to be precise, the death of the economy "breathes in Russia's back" due to the loss of the European market! Russia has already “flyed” with oil, now oil is not only cheaper by 25%, almost at the level of profitability, but it is also forced to sell real oil at a price below $40 to China and India, no matter how much you would like to do otherwise! :)
I do not even rule out that the Kremlin terrorists will cut off the gas to Germany and France. Well, this will be a good lesson, an inoculation against venality and rash acts such as selling yourself to terrorists, and becoming dependent on mentally unbalanced regimes. But I’m sure that the winter in Germany and France, although it will be difficult, but during 2023 these countries will get off the Kremlin’s gas needle, destroy corruption ties with terrorists, and reach a stable level of providing their economy with gas, but already gas bases from terrorists :)

a decision that makes inflation higher and certainly affects the development of the world economy. Currently oil plays an important role in the distribution of all goods, and if there is an increase in oil, it will affect the price of everything. apart from political activities, of course they only think of their own benefit with various policies, and in that country it seems that they always want to be a leader for the whole world, instead of mutually beneficial cooperation, the problem that Russia is currently facing is, of course, not as easy as it seems.

News and one country that really wanted to "help" the terrorist country by buying oil from it at a dumping price - and here another fiasco awaits the terrorist country. expected :)

"03 September 2022 India sharply reduced purchases of Russian oil after the visit of US officials
The "Orient Express" of Russian oilmen, carrying barrels to Asia instead of Europe, continues to falter. In the week ending Aug. 26, oil supplies from Russia to Asian customers fell to the lowest level since the first month of the war, Bloomberg calculated based on tanker tracking data.

China, which began to reduce more purchases in July, was joined by India, which since spring has been regularly taking all the oil that fell under the "boycott" in Western Europe.

Over the month, the flow of Russian oil to India shrank by 40%: at the end of July it was 960,000 barrels a day, in mid-August - 740,000 barrels, and last week - 570,000.

China bought at the same time bought 810,000 barrels a day - 35% less than in early June.

Another 340 thousand barrels per day were taken out of Russian ports by tankers that did not indicate the destination. But even if all that volume ends up in Indian or Chinese refineries, shipments to Asia will be the lowest since early April (1.72 million barrels a day).

Problems in the Indian market arose for Russian oilmen after a delegation of US officials headed by Deputy Treasury Secretary Wally Adeimo, the sanctions policy coordinator in Washington, visited New Delhi.

The US offered the government of Asia's second largest economy to join the "price ceiling" for Russian oil - that is, not to buy barrels more expensive than $40-60. Nothing was publicly announced about the outcome of the talks. But according to Bloomberg, India's de facto government has said no, saying the deal needed "broader consensus."

https://www.moscowtimes.eu/2022/09/03/indiya-rezko-sokratila-zakupki-rossiiskoi-nefti-after-vizita-chinovnikov-ssha-a23878

India is a reasonable country, although some of its representatives have become victims of Russian propaganda.

Crude oil has been extremely volatile the past few days, crashing down to $81.84/barrel of WTI crude oil and $87.64 for Brent oil, respectively. It's the lowest we've seen them so far after the start of the war in Ukraine. Natural gas has also seen a large decrease in price. In the meantime, Russia threatened to completely cut off supplies from Gazprom if sanctions aren't retracted. Personally, I don't see it happening any time soon. The West would rather see their citizens and their economies suffer instead of easing sanctions, which only lead to detrimental effects on Europe's economy and well-being while Russia scores billions in profit by selling overpriced oil to Europe and Asia.

Do you believe that we'll see a slow down in inflation if oil prices remain below $90/barrel? I'm hoping to at least see signs of relief in the gas stations, which will be worthwhile this time.

Crude oil trading at sub-90 levels is good, but let's remember that it was trading at ~$40 per barrel two years ago. And the current prices once again proves that as far as crude oil is considered, the war between Russia and Ukraine is not a major player. Before the war, crude oil was trading at $90 per barrel, and even now it is trading at the same level. On the other hand, natural gas prices went up due to the war, and there is no doubt about it. But the recent decision by OPEC+ to cut oil production will have some impact on the market in the coming weeks.

Despite the hysterical attempts of Russian propaganda to come up with at least some kind of fairy tale, how oil prices will rise and everyone will freeze without Russian gas - the market stubbornly shows that reality is far from propaganda :)

1. Today, Urals oil, "here and now" is below $70. But at this price, no one buys it. China is buying up the surplus already at a price of 32.5 - 34 dollars per barrel, with logistics costs on the supplier's side :)
2. Last week, after the visit of high-ranking US representatives to India, India reduced the purchase of Russian oil by 40% :)

China and India are Russia's "best friends"  ;D

It's even uncontrolable in our country. It's the worst economic situation that we're in. Poor people are suffering and others are trying to look for extra jobs because everything is getting unaffordable including imported goods. The oil price hike is being announced each week and it's continuous. There might be rollbacks but the hikes are still higher.

Honestly, I find the whole situation about Europe reducing their energy consumption a little exaggerated when electric suppliers are soaring in profit. However, whether we like it or not, Europe is still way too dependent on Russia, and my opinion would be to revert the sanctions against them; it's only hurting ourselves. India, on the other hand, had been purchasing discounted oil since the start of the invasion and was reselling it for profit. One thing is certain, judging by the current situation: oil will continue to be volatile and probably won't fall below $80/barrel, unless we have severely decreased demand due to a variety of reasons, such as a recession or another Covid-19 wave.

It's also one reason why I'm thinking of looking for another job. Because the budget that I have been allotting for our needs, it's not that much anymore.
Inflation hits too much and one biggest reason is the continuous oil price hike. I wish to see back that $70 per barrel so that things will start to decrease on its prices and with the strong interest rate of the fed, things are making it more expensive.

Sometimes, I'm like poker face whenever I see these roll backs. But we've got no choice but just to be grateful with that little roll back but soon and maybe after a week or two, they'll make the increase higher and more than the roll back. It hits hard!

We encounter similar scenarios all over the world. We see the same news everywhere from the USA to China because the name of the crisis we are in is the energy crisis. The supply problem that started after the Covid virus prevented us from using the production tools efficiently. This opened the door to a period in which we could not produce as much energy as we consume. Everything looks like a storm that breaks one after another. But the preparer of this storm is a small virus. It's a tiny virus that cannot be seen with the naked eye. I guess this is what they call the butterfly effect.

In our country the price of oil for all needs has also increased and that is due to the increase in the oil used for daily fuel so that everything else also increases. And what I am afraid of is the magnitude of inflation that will occur here when the simple and poor people no longer have the effort to buy any goods because their ability has run out. And it's only the rich who don't feel destitute in their lives that perhaps the rich don't feel the effects of an increase in all goods.

its not going to be rich in times like this because they're also going to be robbed. if you just watch the news daily about robberies and killings, you'd be afraid to allow your family to go out.

price of gas will rocket more because Putin had sanctioned EU also through his Nordstream. their leaders are affecting the world. I might just be using bike forever.  :D

Urals was trading at $90 per barrel when Brent prices were around $120 per barrel. But the discount narrowed later, as Asian countries rushed to purchase the cheaper Russian crude. And it narrowed even further as the EU nations went on a shopping spree recently, to fill their oil reserves before the embargo on Russian crude is applied. Here in India, the private refineries are complaining that the discount for Russian crude is not attractive enough to pay for the higher freight costs. And that is the reason why India recently reduced Russian crude imports.

I would like to write an update on this topic and hear your comments about fuel prices situation in your country today.

Two years ago we have complained how steadily fuel prices went up. Many remember problems with fuel availability in some countries. I remember people posting pictures of car queues to petrol station and trade limit in UK. How is current situation in your country right now? During last 2 or 3 weeks, I have noticed fuel price decline at my place. Compared to prices that were two years ago, current price petrol/diesel price is cheaper for almost 1/4 (diesel 1.56 EUR vs 2.10 EUR). Also I always remember that at winter, fuel is more expensive, compared to summer, but today petrol/diesel cost about 20 eurocents less than in june-august.

Well, honestly, right now, the price of gasoline here in our country can be said to have dropped a little, but only a little, because I can still say that it is expensive per liter, to be honest. He never returned to the price value of 0.8–0.9 dollars per liter.

And I think it looks like it's going to take a long time, or they'll just play with its current price of 1.2 dollars per liter, so it's still a bit painful in the pocket. In reality, it's very difficult for people who are poor in life.

For the last 12 months, the price of Brent crude has remained in two digits. And for the last few weeks, it is really struggling to break even the $80 per barrel level. Remember that this is happening despite the fact that Saudi Arabia and Russia are continuing with their production cuts. Saudis have taken 1 million barrels per day offline, while Russians have reduced their output by 300,000 barrels per day. But this is not having any impact because countries such as Angola and Guyana are stepping up their crude oil output. Saudis and Russians are losing their market share, while non-OPEC nations are increasing theirs.

1. Angola and Guyana become potential terrorist attack points. this is how one of the "world's oil suppliers", often "solves" its problems.
2. The "Let's Light Up the Middle East Project", where the country from point 1 was definitely one of the scenarios, also failed and the oil market remained stable.
3. Cutting oil production has no impact as the Chinese economy is in bad shape and the outlook is even worse. And it is one of the largest consumers of oil. So the demand for oil is not so high, and even decreased.

In a word - "rosy dreams" of some countries trying to manipulate or even terrorize the market - failed !

PS There is one more news that can affect the oil market - Russia is hysterical and demands from India to refuse to pay for Russian oil in rupees. Because whatever the price of Russian oil sold to India do not draw, even 90 dollars per barrel, the same dollars Russia does not get :) If Russia stops supplying its oil in exchange for illiquid currency, there will be a surplus on the market, which Russia will be forced to sell "for pennies". The reason is banal: the gray fleet is no longer working so efficiently (and will soon be even smaller), China will not buy oil now, except "for 1 yuan per barrel", Russia has nowhere to store oil physically.

I don't know about Angola, but reports are emerging that Venezuela is planning to invade Guyana militarily. There is a territorial dispute between the two nations stretching for over two centuries, and Venezuela claims that the region they call as "Guayana Esequiba" (some 160,000 sq.kms, or around 80% of the area of Guyana) is legally theirs. Next Sunday, Venezuela is holding a referendum on the "Essequibo question".

Now coming to the Russian oil import to India, one of the oil tankers (NS Century) has been denied permission to offload its cargo after it was sanctioned by the US. Looks like all of a sudden the oil trade between India and Russia will come to a halt. As of now, the trade is primarily conducted using United Arab Emirates Dirham (AED), but the banks in UAE are now reluctant to process payments. Indian oil companies are now discussing with banks in Singapore and Hong Kong to process the payments.

For example, petrol is a necessity, even though it is not a basic need, it is a necessity that must always be available for operations. Now. For people who have a monthly income below the average, an increase in gasoline prices, even just $0.020, will be quite noticeable. There is no way to avoid it because it is a necessity.

Oil and gas are the daily necessities of people which every family needs because now a family has 1-2 cars and motorcycles which are completely dependent on oil and gas. And countries that depend on other countries for oil and gas have a lot of effect on the price of oil and gas.  On the one hand, the rate of inflection of money has increased, along with the increase in oil/gas prices, the countries are in a lot of trouble and have created a huge pressure on the common people.

since we've had an increase in the price of fuel, we've not seen fuel this expensive compared to what's happening now in my country. In the last four years, I still remember a little of fuel was around 200 of our Nigerian naira but it surprise me that just this fed years along the line, the price of fuel as gone as far as 800 of the Nigerian naira which is almost for four times of it normal price. And the issue with the increase in the price of fuel is that it directing affect almost all other commodities in the market. One's there is a slight surge in it price, transportation people will increase price of transport and market women will almost double the price of goods making it difficult for the average man to survive in such a condition.

One of the reasons for the high inflation is the rising cost of crude oil. From mid-2014 to end of 2020, crude oil prices remained at around $50 per barrel. But that changed with the election of Joe Biden as the POTUS. As a result of his policies (cancelling of Keystone XL pipeline, ban on fracking.etc), there was an immediate spike in crude prices. And then the Russo-Ukrainian war happened and the prices went up even more. Now the Israel vs Hamas war is the latest political factor which is resulting in higher crude oil prices.

So what should we expect from "Russia can neither store, not trade normally her oil" ? Fuel prices would continue to drop? Or current price decrease is just temporary?


As I understand, AED is another intermediary in a trading link. Adding one more link, one more hungry mouth always increases total cost of a product. As to current price decrease, it cant be connected with currency change or addition. Volatility aint that huge, it can be counted in tens of percents. Yesterday, after making my post, I paid more attention to fuel price, and they are even lower. Cant explain why. The lowest was 1.48 EUR for petrol, while I am already used to see prices to be on 1.70 EUR level.

  No matter how expensive or high the fuel is today, drivers can't do anything but buy fuel because if they don't do it, they won't be able to use their cars. Of course, if you have a car, can you do something? isn't there either.

  That's why the only thing we can really do is allocate a lot of budget for the gas in our car and even for other things that use gasoline; that's just the way to understand. Even if there is a drop in the price of gasoline, after a few weeks, the increase will triple.

The worth of oil increased and the major reason behind its increase value is that population is increasing which use oils and another sources of energy hence the power reduces and worth increases. In my opinion the increase in the worth of all necessary materials and minerals is due to enhancement in oil price so it is necessary to keep control on the uses of oil energy in our daily use so the price will reduces to some extent.

Rich don't hesitate to buy things because they already have large amount of money so they don't need to spend according to plan but poor people always think about their pocket so they use money only for useful works. Rich people focus only on completing their dreams because they have already completed their needs whereas poor people focus to get money for just their needs and they sacrifices their wishes.

So many things had affected the price of fuel and we don't find an alternative, things might get worse with time.
As the fight between Ukraine and Russia still continues, it will be hard for the price of fuel to come down because this is one of the reasons why price of goods and food stuffs are getting expensive everyday because the means of transportation of raw materials and food items are expensive which had contributed to the hike in price of food and other materials. This war had caused severe problems to the world and something needed to be done or else the worse might happens.

As Saudi Arabia has been the best fuel producer we all know about the fact. The have no use of it on almost when the people need it. That's why the price of water in the Saudi Arabia is high as compared to the Fuel in  Saudi Arabia.

All because they have their own wells of the Fuel through which they are supplying in other sense they are exporting these fuel to other countries and are getting their profit in some other ways of income. That's why they didn't mostly take loan from other countries and are independent.

Obviously United Arab Emirates Dirham (AED) is being used as an intermediary. Indian companies don't want to use CNY (the government has prohibited them from doing so), and therefore they make the payments to Russian oil companies using AED. The Russians convert AED to CNY or any other currency they can use to import items that they need (such as pharmaceuticals and engine parts). Now the trade may shift to Singapore Dollar (SGD) or Hong Kong Dollar  (HKD) since the UAE banks are not very comfortable with making payments to Russian clients.   

Lol, it seems like that's quite true so I rarely watch news like that in my days so far because I also don't want to limit my family when they want to leave the house. Likewise with other things where when my family and I want to have something that they think could be better, I will also obey them even though I will also do some kind of research myself on the matter, for example using electric vehicles or non-electric vehicles.

Using a bicycle forever in your life will not be bad for your own health because now many people also use bicycles to exercise. And this is also quite beneficial for the body and there are also other benefits such as being able to reduce the cost of buying fuel because rowing bikes don't need that. It seems that Putin is also very serious about imposing sanctions on the European Union because Putin really doesn't want any country to disturb him in any sector, let alone countries in the west.

It should be understood that today's price of Urals crude oil is largely indicative, but it is not the price that Russia receives in its budget. Let me explain. For example, let the declared price be 100 dollars. But now most of the oil is bought for yuan and rupees. Yes, they are somehow recalculated into a "virtual dollar", but the facts are that Russia does not receive any dollars.  Moreover, even with the same rupees there are a lot of problems !
Even the head of Rosneft complained about sanctions and blamed the Central Bank for the hang-up of export proceeds in India....
 

At the same time, sanctions against the "gray fleet" have led to a surge in freight prices: to rent a ship to India, which has become the largest buyer of Russian oil, now costs $10-11 million, although in early October it was $8 million, and in September - only $5 million. This situation presses on the price of Russian grade Urals, which is again sold at a discount of about $20 to the North European benchmark Brent. Last week, the price of Russian oil fell below $60 per barrel, while the government has budgeted $71 in the 2024 budget.
https://www.moscowtimes.ru/2023/11/30/sechin-pozhalovalsya-na-sanktsii-protiv-rosnefti-i-problemi-s-vozvratom-viruchki-ot-eksporta-a114678

I.e. it is not the price of oil that is rising, but the price of "gray transportation" costs

I guess you don't realize that it's a pointless, never-ending fighting with consequences? Close this sales channel, Russia will come up with 2 new ones. They have already mixed oil with other brands in order to trick the sanction system and done some other similar stuff. Sanctions are not working, it's EU and US suffocating themselves, nothing more. 

If this were pointless, then the Kremlin would not be screaming about the fall in income, the lifting of sanctions, they would not be cutting budgets for their farm laborers, they would not be degrading social security for the population, etc. Those. everything works, of course not 100% but very effective. Now we have figured out the operating scheme of the “shadow fleet”, identified the participants and the scheme, and “the crown is closing”, and it is no longer profitable for buyers, and no one needs Russian oil at the price of the Middle East :)

And this is easy to see even according to official data:
- The revenue of the largest oil and gas companies in Russia fell by 41% in January-September 2023, the Central Bank of the Russian Federation reported on Thursday in its Financial Stability Review. Report of the Central Bank of Russia, everyone can read it :) http://cbr.ru/Collection/Collection/File/46610/2_3_q_2023.pdf
- Urals fell in price by 10.6% mom in November, the discount to Brent increased to $10.3
- And the most positive news: Sanctions will last for years - the United States intends to halve Russia’s current oil and gas revenues by 2030.

Do you hear them whining? Where? Perhaps you can provide some sources? Ahh, I forgot, you never provide sources! And "screaming" you hear is in your head most probably...

Now, this is interesting... Who are "we" you are referring to?

Fell by 41% compared to what? Last year's top? But I've actually translated the document and it's mostly positive news there.  

This is actually good news for Russia. It means sanctions can't hurt them and Russia won't disintegrate into any small states or some other apocalyptic crap you're spreading won't happen. But the question is: will Ukraine still be around in 2030?  

Those materials which are using in country abundantly will have no impact on Economy but those materials which are excessive in quantity are used for the purpose of exporting to other countries therefore it helps in making the economy of a country better.

Those countries in which the system of exporting is stronger than the process of importing will be successful always because others country will depend on them but they will not depends on others. Although water supply is maximum but is used in vast quantity by all countries all around the world therefore the quantity become less with the passage of time so obviously there will be a time when price of water will become more higher than the worth of energy supply. The price is related to the quantity so when quantity is lower the price will be higher and when quantity reduces price will directly proceed.

It's indeed been a while since this thread was last updated, but it's an interesting subject. Fortunately, crude oil prices have slightly dropped compared to what they were a few months ago, surpassing $90 or even $100 in some cases. Brent crude is now at $76.50 and WTI crude at $72, still a lot more expensive than it used to be a few years ago. Unfortunately, I don't expect prices to fall back to what they used to be anytime soon or ever, while the EUR/USD exchange rate is far from being what it used to be.

Even though crude has dropped in price and the exchange rate isn't that bad (1 EUR was equal to $1.10 a few days ago), thanks to our government and pure market speculation, fuel prices haven't dropped too much, with petrol costing an average of €1.87/liter and diesel at €1.69/liter. I'm not sure what to expect in the future, but I'm guessing that high fueling costs have become the norm, as €1.85 per liter was once considered high and was mostly noticed during the summer periods; now it's merely the average price to pay.

Serioously i taught this was a thing of a particular country i never knew it is something that is general and affects even countries i do not expect. Truly the world is going scarcity of fuel and this is as a result of lack of the raw products that produces fuel. We know that the main produces of fuels comes from the decay of dead bodies centuries ago. Especially during the world war. But currently there have been limit to which those products are being obtained and that is why countries who have the natural resources are increasing their prices on a daily basis. So that only few can afford it and those who cannot do without fuel will have no option but to buy it. The question is will there be a time when there will be no fuel for the global economy and what would be the alternative.