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

[uneng]

Here the situation is worrying. Minimum wage is 242$ and average gasoline liter price is around 1,44$. Diesel fuel is almost the same price of gasoline and there are risks of shortage soon. In case there isn't enough supply for the internal market, the government will try a barter system with another countries, exchanging food for fuel directly. At least that is what the president says, although it's not possible to take his words in consideration, because he isn't a man of his word.

That is the price to be paid for not adopting and developing sustainable sources of energy in abundance. Now the world is heavily dependant on Russia and its friends for one of the most basic goods indispensable in the economy of a country.

To make things worse, most people here live with a minimum wage, while 17,5 million families are living supported by government's welfare program, which is also used as political bargain coin to bribe the miserable for votes in electoral years.

[bakasabo]

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.

The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.

In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...

[Ultegra134]

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.

The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.

In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...

That's certain. The excessive prices are here to stay, even if everything suddenly switches back to normal, the inflated prices will remain for a long time and become the new standard. In the best case scenario, we'll see a slight drop and that's about it. The average price for 95 unleaded is over €2.35 and is expected to rise even further from Monday, due to Brent oil surpassing $125/barrel.

[virasisog]

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.

The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.

In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...

That's certain. The excessive prices are here to stay, even if everything suddenly switches back to normal, the inflated prices will remain for a long time and become the new standard. In the best case scenario, we'll see a slight drop and that's about it. The average price for 95 unleaded is over €2.35 and is expected to rise even further from Monday, due to Brent oil surpassing $125/barrel.

The sad thing is, that inflation will continue to rise and we have to deal with it. Even when the war stops or the pandemic ends, I believe that there's no way for us or even the government to solve the increasing inflation rate of each country. Yes, the oil price hikes each weak and even rich people are suffering. I guess the best thing that we can do is just to grind and hustle harder so we can survive this inflation crisis.

[Ultegra134]

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.

The most unbearable fact is, that is Russian-Ukrainian war stops, prices wont start to go back. Living with such inflation and high prices will be new normal, until another world collapse or disaster happens. Sort of a slow self destruction mechanism started by humankind.

In my country, every 2-3 days fuel prices updates is ATH. Every time I am passing by fuel station and see fuel prices, in my mind I say "not again..." and start to think about what places I have planned to visit I could skip...

That's certain. The excessive prices are here to stay, even if everything suddenly switches back to normal, the inflated prices will remain for a long time and become the new standard. In the best case scenario, we'll see a slight drop and that's about it. The average price for 95 unleaded is over €2.35 and is expected to rise even further from Monday, due to Brent oil surpassing $125/barrel.

The sad thing is, that inflation will continue to rise and we have to deal with it. Even when the war stops or the pandemic ends, I believe that there's no way for us or even the government to solve the increasing inflation rate of each country. Yes, the oil price hikes each weak and even rich people are suffering. I guess the best thing that we can do is just to grind and hustle harder so we can survive this inflation crisis.

The sad thing there's no direct way to battle inflation and due to the increasing costs in fueling and electricity, daily products are becoming more and more expensive. Inflation in Greece surpassed 10.7% in May, which translates in an increase of over 10% in the majority of goods being sold.

Salaries were supposedly increased in first of May, but it's not an ideal way to battle inflation, since the higher cost of employees is often absorbed by consumers.

[Sithara007]

Brent crude is inching towards the $125 level. And here in India, there is some very bad news for the citizens. State oil companies tried to come up with a deal with Rosneft for the import of discounted Russian crude, but Rosneft told them that they don't have any spare capacity. The oil needs to be lifted from Russia on a spot basis, which is going to be more expensive. Unless the EU embargo on Russian tanker crude is fully implemented, the Indian oil companies won't be able to sign any long-term agreement with Rosneft or Lukoil.

[Wong Gendheng]

In my country oil prices continue to rise, subsidies are getting reduced and poor people find it difficult to buy good quality oil, I think this is because the country does not have a clear target for the future of the oil industry, my country can still produce oil but it is managed by private companies and foreign companies, state oil companies only import and this keeps prices going up.

[TheGreatPython]

In my country oil prices continue to rise, subsidies are getting reduced and poor people find it difficult to buy good quality oil, I think this is because the country does not have a clear target for the future of the oil industry, my country can still produce oil but it is managed by private companies and foreign companies, state oil companies only import and this keeps prices going up.

I don’t really know if this same country you are talking about is my country also, because the things you mentioned here are all similar to the calamities faced in my country. The rich takes from the poor to remain even richer, talking about the oil production aspect, my country also produces the same oil, in very good quantities but how we are not able to use this oil to our own benefit still baffles me because I am aware of the numerous things oil can do, I’m aware of the income sources oil can create, so it's actually disheartening that our natural resources are being managed by foreigners, the more reason there’s an imbalance in the economy; things always go the rich side.

[globalpain]

In my country oil prices continue to rise, subsidies are getting reduced and poor people find it difficult to buy good quality oil, I think this is because the country does not have a clear target for the future of the oil industry, my country can still produce oil but it is managed by private companies and foreign companies, state oil companies only import and this keeps prices going up.

When the price of oil rises indirectly it also makes other prices also rise,
In this case the government should be able to act seriously to overcome it,
I hope this oil price can return to normal considering that currently the prices of other commodities are also rising

[Ultegra134]

What's also not helping is the exchange rate of €EUR/$USD, which is currently at $1.05/€ and is putting a huge burden on gas prices. I haven't seen it like that before, in the past, it used to be approximately $1.20/€. On top of that, our government is refusing to lower fuel taxation, despite Eurozone suggestion. Instead, another fuel pass will be distributed (prepaid card only for fuel purchases), providing each person approximately 50-60 € balance to be used for fuel, which is honestly a drop in the ocean.

[Naficopa]

What's also not helping is the exchange rate of €EUR/$USD, which is currently at $1.05/€ and is putting a huge burden on gas prices. I haven't seen it like that before, in the past, it used to be approximately $1.20/€. On top of that, our government is refusing to lower fuel taxation, despite Eurozone suggestion. Instead, another fuel pass will be distributed (prepaid card only for fuel purchases), providing each person approximately 50-60 € balance to be used for fuel, which is honestly a drop in the ocean.

In my country - the middle class person have been in serious trouble due to oil and gas prices. The hike in the prices have been so much trouble for an average person. How would a poor person survive? The other needful items has gone to extreme high rate. What has this fuel crisis done to the world. Oh Dear lord.