Countries with the most expensive fuel | Greece's case study

[bakasabo]

So far we have talked much about expensive fuel in connection with personal transport. What about public transport in your region? Has ticked prices went up or transport companies plan to do it? So far in my country I see people, who use public transport with sort of a dominance on their faces. They have paid same ticket price when the diesel (I have diesel car, so I remember diesel prices) cost less than 1 EUR, 1 EUR, 1,50+ EUR, 2+ EUR. Public transport users so far feel quite comfortable with fuel price increase, or so far they bother about it. In my country I think the amount of public transport users is greater than those who use their own transport. But, if ticket prices doubles, I expect dissatisfied statements.

[Ultegra134]

So far we have talked much about expensive fuel in connection with personal transport. What about public transport in your region? Has ticked prices went up or transport companies plan to do it? So far in my country I see people, who use public transport with sort of a dominance on their faces. They have paid same ticket price when the diesel (I have diesel car, so I remember diesel prices) cost less than 1 EUR, 1 EUR, 1,50+ EUR, 2+ EUR. Public transport users so far feel quite comfortable with fuel price increase, or so far they bother about it. In my country I think the amount of public transport users is greater than those who use their own transport. But, if ticket prices doubles, I expect dissatisfied statements.

I'm in a small city which doesn't have urban public transport so I can't really tell. However, I've heard that suburban tickets have seen a small increase, but it's not an alarming one. Discussions were being made a few weeks ago to reduce the VAT percentage from 24% to 13% in bus, train tickets etc, but it hasn't been implemented yet.

Germany has significantly reduced the cost of public transport, via their monthly transportation card which is available for only 9 euros and includes suburban trains and buses.

[caffinated]

Tesla is already receiving orders for their Semi, by depositing a $20.000 down payment. If I'm not mistaken, deliveries are claimed to start from 2024, according to Elon Musk. A few other companies are also said to develop, or have developed smaller trucks already, such as BYD or Daimler. It would be interesting to see what range they'll achieve, because they're way too heavy, and how fast they'll charge

I wish the whole world turns to these environment friendly vehicles - and there is no need for fuel - this OIL war has done so much damage to the world. The monopoly is not going to end and there will be no peace on the earth if the same situation continues.

Instead of the current problems with gasoline, problems with electricity will begin, that's all.

Well, Brent oil has spiked to $125/barrel, which will send prices over 10 cents per liter, surpassing €2.45/liter of unleaded 95 petrol. As you've said yourself, the situation is bound to get worse, and I'm not sure how our citizens will make ends meet, including myself. Electricity will become a huge issue in the upcoming weeks, they are already discussing to ban cars on Sundays, limit A/C usage and a few other measures that I cannot recall at the moment.

The reliance on oil has always been the easy solution but it is not the only solution. The problem is the politicians are not paid to solve problems, they are paid to politik problems. Europe has ample land, order solar panels from china and put em up like no tomorrow and watch what happens. China's factories can churn out panels pretty fast. The poorer regions could use this as a source of income for the richer regions. Solar efficiency is increasing despite the funding for solar being well below the R&D budgets for fossil fuels. There are prototypes of over 50% efficiency, the current solar cells in market are only around 15% efficient right now.

There is still sufficient time to shift from fossil fuels before reserves dry up... oh and theres a shortcut too if the earth doesent matter, just buy from the other oil producing countries, countries like the UAE have tons theyre sitting on.

All of this wont happen though... heres whats going to happen instead... largely nothing will be done to address the supply issue. Some supplies may be arranged from alternate suppliers but they will be inadequate. Fuel prices will continue rising. Daily items prices will sky rocket. In some countries the prices of groceries tripled during early days of covid and continue to rise till today.
"You will own nothing and be happy" know where that comes from?
The money printer that was turned on during COVID will continue the after effects of 'inflation'. If this does not show why FIAT is a failure i do not know what will.. This is why BTC exists and is a hedge against inflation.

EVs will not solve the problem because the problem is where does the electricity come from? Many times a major chunk of it comes from fuel...

I am optimistic that the problem of energy is addressable on a global scale without fossil fuels but skeptical that any major country has the guts to move away from fossil fuels dependence (bhutan is a good pilot case study on green energy as a major source of energy)

[caffinated]

To add onto the pricing of oil... there are HUGE oil ships parked in the sea the size of small countries... nationalization of assets would be a good call for such assets as they are only going to profit the elites anyway.

[Ultegra134]

Tesla is already receiving orders for their Semi, by depositing a $20.000 down payment. If I'm not mistaken, deliveries are claimed to start from 2024, according to Elon Musk. A few other companies are also said to develop, or have developed smaller trucks already, such as BYD or Daimler. It would be interesting to see what range they'll achieve, because they're way too heavy, and how fast they'll charge

I wish the whole world turns to these environment friendly vehicles - and there is no need for fuel - this OIL war has done so much damage to the world. The monopoly is not going to end and there will be no peace on the earth if the same situation continues.

Instead of the current problems with gasoline, problems with electricity will begin, that's all.

Well, Brent oil has spiked to $125/barrel, which will send prices over 10 cents per liter, surpassing €2.45/liter of unleaded 95 petrol. As you've said yourself, the situation is bound to get worse, and I'm not sure how our citizens will make ends meet, including myself. Electricity will become a huge issue in the upcoming weeks, they are already discussing to ban cars on Sundays, limit A/C usage and a few other measures that I cannot recall at the moment.

The reliance on oil has always been the easy solution but it is not the only solution. The problem is the politicians are not paid to solve problems, they are paid to politik problems. Europe has ample land, order solar panels from china and put em up like no tomorrow and watch what happens. China's factories can churn out panels pretty fast. The poorer regions could use this as a source of income for the richer regions. Solar efficiency is increasing despite the funding for solar being well below the R&D budgets for fossil fuels. There are prototypes of over 50% efficiency, the current solar cells in market are only around 15% efficient right now.

There is still sufficient time to shift from fossil fuels before reserves dry up... oh and theres a shortcut too if the earth doesent matter, just buy from the other oil producing countries, countries like the UAE have tons theyre sitting on.

All of this wont happen though... heres whats going to happen instead... largely nothing will be done to address the supply issue. Some supplies may be arranged from alternate suppliers but they will be inadequate. Fuel prices will continue rising. Daily items prices will sky rocket. In some countries the prices of groceries tripled during early days of covid and continue to rise till today.
"You will own nothing and be happy" know where that comes from?
The money printer that was turned on during COVID will continue the after effects of 'inflation'. If this does not show why FIAT is a failure i do not know what will.. This is why BTC exists and is a hedge against inflation.

EVs will not solve the problem because the problem is where does the electricity come from? Many times a major chunk of it comes from fuel...

I am optimistic that the problem of energy is addressable on a global scale without fossil fuels but skeptical that any major country has the guts to move away from fossil fuels dependence (bhutan is a good pilot case study on green energy as a major source of energy)

Solar panels are a great solution for countries with excessive sunlight, such as Greece or Italy, but no one seems to be taking advantage  of such an opportunity. As you've already mentioned, EVs are not solving anything, since the percentage of renewable energy sources is minimal, according to OurWorldinData, it was just 11% in 2019, a number which may have slightly increased.

On top of that, they are currently exceedingly expensive for the average household, but that's supposed to change in the future. Fuel continues rising, groceries as well while getting by is a lot more difficult now. On top of that, as you've also mentioned, that huge chunk of oil supply from Russia hasn't been replaced and is causing an outrage in pretty much everything.

[Renampun]

Isn't politics a bitch?

It is expensive to be alive or live nowadays  This about pros being a zombie. You dont need food (hello upcoming wheat problem), you can walk as much as you want (you dont need to bother about "expensive fuel"), you dont need medicine, fancy clothes and etc.

...

politics is a drama that is forever irritating...

(I didn't mention the issue of greece oil prices) The problem of oil prices is a serious thing that happens in many countries, the high price of oil certainly affects the cost of goods (food and beverages). in my country, the price of oil in different regions (cities and provinces) is different, the politics that causes it all, the government is just sweet-talking, their campaign promises are fake.

[kryptqnick]

fortunately my country did not interfere so much in the war ukraine and russia,,,, so russia still sends its oil supply to our country and thanks for that the price of oil in our country is still quite cheap compared to neighboring countries

I think I would not call getting oil from a country that wages a genocidal war (so, basically, sponsoring the war by paying for Russial oil) 'fortunate. Does not it make you uncomfortable, knowing the source and what's going on?
I never had to buy oil in my life, so I don't know our prices and don't intend to get involved. As for gas, I hope my country and others will switch more to electricity (we have tons of gas stoves and some gas heating), and source it from something more eco-friendly and not related to dictatorships.

[TheGreatPython]

So far we have talked much about expensive fuel in connection with personal transport. What about public transport in your region? Has ticked prices went up or transport companies plan to do it? So far in my country I see people, who use public transport with sort of a dominance on their faces. They have paid same ticket price when the diesel (I have diesel car, so I remember diesel prices) cost less than 1 EUR, 1 EUR, 1,50+ EUR, 2+ EUR. Public transport users so far feel quite comfortable with fuel price increase, or so far they bother about it. In my country I think the amount of public transport users is greater than those who use their own transport. But, if ticket prices doubles, I expect dissatisfied statements.

Yes the price of the ticket in my country has also skyrocketed. Some people can't help but complain without even knowing the real reason why it did happen but me I don't complain anymore because I know that it is only caused by the rise of the fuel's price. Despite of the increase, the operator of the vehicles do also earns less than what they are earning before the fuel hike came.

If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.

[Sithara007]

In my country (India), we have a strange situation. The gasoline and diesel prices have increased only by around 5% during the last 6 months. The reason is that the government reduced taxes on fuel, and then asked the public-owned refiners to subsidize the fuel. PSUs such as Indian Oil Corporation are incurring huge losses for every liter of fuel they sell on market. Now I don't know for how long they will be able to continue with this system. Because at some point, the subsidies need to stop. Else these companies are going to become bankrupt.

[Welsh]

Tesla is not affordable for everyone ofcourse but I do think they can also bring something good in the market which might not only be of help to families who are struggling but expand their options as well. There are other cars available in the market but not that easy to sort the best our out there.

Depends how you look at it. If electric cars don't become less expensive than they're, with at least the same mileage as you would get filling up a regular car, then electric cars could make it more difficult for the poor. Since, cars requiring fuel will become less used, and therefore fuel becomes a sort of niche product with much less demand, which would in turn increase the cost per litre.

This is especially true when you throw the UK in the mix which is banning the sale of any new car that isn't electric in 2030. If you haven't converted by then, and can't afford to convert you'll likely be paying massive amounts per litre of fuel.

At the moment, electric cars are too expensive. You're looking at 30-40k. Anything less only has about a 100 mile range which is absolutely shocking compared to the fuel alternatives. Fuel costs are currently £1.83 per litre, and that's likely to shoot up to above £2 a litre in a few months. Then when 2030 comes on you kind of get a compounded increase, due to the pandemic, war, and inflation. Then, obviously you're hit by the law being brought in banning new car sales that aren't electric.

[Gyfts]

In my country (India), we have a strange situation. The gasoline and diesel prices have increased only by around 5% during the last 6 months. The reason is that the government reduced taxes on fuel, and then asked the public-owned refiners to subsidize the fuel. PSUs such as Indian Oil Corporation are incurring huge losses for every liter of fuel they sell on market. Now I don't know for how long they will be able to continue with this system. Because at some point, the subsidies need to stop. Else these companies are going to become bankrupt.

India is still doing trades with Russia for their oil. I haven't kept up with Russian oil exports but it caused some concern for the West that India was still electing to do business with Russia despite sanction efforts. A source I found suggests India is not looking to stop their cheap oil binge: https://www.cnn.com/2022/05/31/energy/india-snapping-up-russian-oil-intl-hnk/index.html

All the fuel costs in Europe skyrocketing is really by choice. If they want to do business with Russia and lower their fuel costs, they can. India's doing well for themselves and I don't find the war in Ukraine a compelling reason to send fuel costs soaring. Good for them.

[YOSHIE]

Due to the ongoing war, inflation along with fuel prices have skyrocketed among the globe, with households not being able to keep up with the increased living costs. However, the impact of the increased living costs differ from country to country.

Bad, this year the world economy is getting worse due to the increase in fuel, my country in 2021 the price of gasoline type fuel is $0.6/diluted to enter in 2022 to $ 1/diluted, the economy in all sectors deteriorated especially the market 80% of all goods rose due to the increase in fuel prices.

It seems that the skyrocketing fuel has not only happened in Greece, almost all countries have experienced it, trading activities have stalled, Complaints from small businesses screamed, almost entirely suffering from rising fuel costs.

Greece was warned by Turkey not to drill for fuel in the Mediterranean, but Greece did not heed the ban, If Greece and Turkey fight and fight over oil in the Mediterranean, I believe this will have a bad impact on both countries, of course the people will suffer more than what is happening today.

[Sithara007]

In my country (India), we have a strange situation. The gasoline and diesel prices have increased only by around 5% during the last 6 months. The reason is that the government reduced taxes on fuel, and then asked the public-owned refiners to subsidize the fuel. PSUs such as Indian Oil Corporation are incurring huge losses for every liter of fuel they sell on market. Now I don't know for how long they will be able to continue with this system. Because at some point, the subsidies need to stop. Else these companies are going to become bankrupt.

India is still doing trades with Russia for their oil. I haven't kept up with Russian oil exports but it caused some concern for the West that India was still electing to do business with Russia despite sanction efforts. A source I found suggests India is not looking to stop their cheap oil binge: https://www.cnn.com/2022/05/31/energy/india-snapping-up-russian-oil-intl-hnk/index.html

All the fuel costs in Europe skyrocketing is really by choice. If they want to do business with Russia and lower their fuel costs, they can. India's doing well for themselves and I don't find the war in Ukraine a compelling reason to send fuel costs soaring. Good for them.

Even at this point, imports from Russia represents only 20% of the total imports for India. I would not say that it is an insignificant number, but the impact on trade deficit and local inflation is limited. And one more thing. Most of the Russian crude is being imported by private refiners such as Reliance India and Nayara Energy. And they are exporting the refined products (petrol, diesel.etc) to Europe. These private refineries are profiting out of this business and not passing on the profits to the common people of India.

[livingfree]

These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.

Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.

[Ultegra134]

These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.

Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.

It's a vicious cycle, fueling costs increase transportation costs which are passed into products and causes the inflation we're talking about. Fueling prices keep soaring here, averaging 2.45€/liter for 95 unleaded petrol while groceries cost at least 10-15% on average.

In the meantime, despite the imposed sanctions, Russia claimed more than $20b in revenue from oil sales.

[sana54210]

the price of the ticket in my country has also skyrocketed. Some people can't help but complain without even knowing the real reason why it did happen but me I don't complain anymore because I know that it is only caused by the rise of the fuel's price. Despite of the increase, the operator of the vehicles do also earns less than what they are earning before the fuel hike came.

If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.

Nations could have prevented this, there is absolutely no reason for this to happen right now. Well it is simple, instead of spending so much on oil, or military, or religion, or anything else that they are spending and mainly being so corrupted, they could have spent billions (not just Greece, all nations) could build an electric vehicle, like tesla but for public transportation (maybe some exist) as a bus, and then put solar panels which is an invention that already exists, and put it everywhere. So that would mean that it would cost literally nothing for a nation to provide bus rides to its citizens, maybe a tiny amount for like replacements and repair and all that.

[Naficopa]

the price of the ticket in my country has also skyrocketed. Some people can't help but complain without even knowing the real reason why it did happen but me I don't complain anymore because I know that it is only caused by the rise of the fuel's price. Despite of the increase, the operator of the vehicles do also earns less than what they are earning before the fuel hike came.

If there are ones that are totally affected it was them the drivers or the operators because they mostly have big families and have a much poorer lives than to most of the commuters that mostly have a better-paying jobs and have a small number of family to feed.

Nations could have prevented this, there is absolutely no reason for this to happen right now. Well it is simple, instead of spending so much on oil, or military, or religion, or anything else that they are spending and mainly being so corrupted, they could have spent billions (not just Greece, all nations) could build an electric vehicle, like tesla but for public transportation (maybe some exist) as a bus, and then put solar panels which is an invention that already exists, and put it everywhere. So that would mean that it would cost literally nothing for a nation to provide bus rides to its citizens, maybe a tiny amount for like replacements and repair and all that.

Russia is not in trouble even after the whole world turned against them.
They are doing what they want - but the world is in limbo what to do if Russia is not going to give them oil and gas. I think they forget that Russia can survive the sanctions but the world would surly be going to ask for oil.

[crzy]

These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.

Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.

Greece is on a big inflation even before the war started between Russia and Ukraine though maybe this situation make it more worst. In my country, we expect to have a higher inflation in the coming months and maybe, this could be the start of the price hike. This is one of the problem that world faces today, many countries are already suffering from a big inflation, oil is one thing and I can expect more commodities to rise in price as well.

[Naficopa]

These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.

Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.

Greece is on a big inflation even before the war started between Russia and Ukraine though maybe this situation make it more worst. In my country, we expect to have a higher inflation in the coming months and maybe, this could be the start of the price hike. This is one of the problem that world faces today, many countries are already suffering from a big inflation, oil is one thing and I can expect more commodities to rise in price as well.

The whole world is in trouble - we are so much affected by the inflation. Also the poor sect of our country is very upset and they are in extreme agony how to take care of themselves and the the family.
I don't see any good thing happening in coming days.

[Ultegra134]

These fuel price increases are really making the inflation much quicker and higher and it's the whole world that suffers expect for the few companies that have their main source through oil.

Damn, the ATH on the oil prices really is making our lives harder and it's a domino effect when fuel price increases. All commodities and goods are also increasing. When this war will end and things will go back easier pre-pandemic, we're just about to see the neutralization of the covid-19 due to vaccines but there's another challenge due to the war and oil price increases.

Greece is on a big inflation even before the war started between Russia and Ukraine though maybe this situation make it more worst. In my country, we expect to have a higher inflation in the coming months and maybe, this could be the start of the price hike. This is one of the problem that world faces today, many countries are already suffering from a big inflation, oil is one thing and I can expect more commodities to rise in price as well.

That's correct, if you check my other threads regarding fuel prices or inflation, they date back to September or October, till February before the war started. The condition was already awful in September, with fuel prices already on the rise, electricity costs had skyrocketed and inflation was already making its appearance on a daily basis.

Currently, inflation is over 10.7% and is expected to rise even further, the average cost for a liter of 95 unleaded is over €2.35 while everything has become way more expensive, up to the point of it being unbearable.