Direct survey of fuel price hikes after the Iran vs US and Israel war.

[YOSHIE]

Instead of reading a lot of mainstream news, I would like to ask a question to the forum members, to make it more interesting.

The Middle East war is currently starting to have an impact on some countries including Asia, we can understand that if this war does not stop there is a big possibility that the economy will be destroyed globally, oil will skyrocket.

The government and other countries have currently planned an increase in fuel oil which is scheduled for April 1, the government will still be able to stabilize oil prices this month. They do not guarantee that next April, if the war between Iran, Israel and the US is not stopped, this is a threat and will be a bad situation for the global economy.

[Cryptomultiplier]

~snip~
At at $280 per barrel, demand destruction will hit,  half of the world would stop using oil before that as they can't afford it.

That would not be so bad if we take into account how much vehicles that use oil derivatives pollute the air and what this same air does to human health. Maybe only high oil prices will force (encourage) people to start using electric vehicles more, or at least reduce how much someone uses their vehicle.

Not only vehicles use oil. I live in a country like Nigeria that demands we use oil for generators because of lack of constant electricity supply, there are also other means of transportation that demand oil and so far, we have witnessed oil price rise from 950naira to about 1,500naira.
The rise in commodities from food to wear to technology equipment and other sectors of the economy is quite huge. I have had to reschedule an important trip twice and may finally cancel because of the hike in transportation fares.

What beats my imagination is that we have refineries that should be working and we mine oil here for export. However, we always seem to suffer much while those at the top seat of governance gain massive profit from this current hike of oil.
It's not easy for the common man trying to survive here, because even with the tax reform our president initiated early this year, we get taxed for everything we buy or use or transfer to and from our banks.

[Franctoshi]

When the war broke out between the US and Iran and Israel, many thought it was going to be Iran alone that would suffer the impact, but gradually many countries are feeling the impact of the war with the skyrocketing fuel and gas prices. My country isn't exempt from this; the price of PMS is on a steady increase. Previously, the price was around NGN870-NGN900 when the war just started; it rose to 1000 and is currently 1350 per liter, and prices of goods are now on the increase too. The gas price is around NGN1500-NGN1600 per kg.

[stompix]

~

That would not be so bad if we take into account how much vehicles that use oil derivatives pollute the air and what this same air does to human health. Maybe only high oil prices will force (encourage) people to start using electric vehicles more, or at least reduce how much someone uses their vehicle.

Not that simple, unfortunately:
Chart is a bit out of date but still:


Only about ~20  million barrels of oil go for small transport worldwide, and here we include on top of small businesses that need to go around, basically everything that uses a car not registered for transporting business, including for example, police cars.
Anyhow, that half of the world I was talking about was like 5% Europe and the US reduction and 99% the rest of the world, remember we live in a privileged world where you can fill a full tank every month, even with the minimum wage.

[Lucius]

~snip~

I am aware that a lot depends on oil, but we also have to prepare for the time when there will be no more oil because reserves are dwindling and in 50+ years there may not be enough oil left to power the world as it does today. The energy of the sun, wind and water is something that we can all use, and solar power plants are more and more affordable and in combination with batteries (which are still very expensive) in regions where there is a lot of sun, they can play an important role.

I assume that your country has a lot of sunshine during the year, so perhaps an investment in solar panels could somewhat reduce the dependence on fuel for generators, and with an electric scooter or a smaller electric car that would be charged with solar energy, you could be independent in terms of transportation. I know it's not cheap, but you always have to have an alternative in mind.

[Cheema02]

Instead of reading a lot of mainstream news, I would like to ask a question to the forum members, to make it more interesting.

The Middle East war is currently starting to have an impact on some countries including Asia, we can understand that if this war does not stop there is a big possibility that the economy will be destroyed globally, oil will skyrocket.

The government and other countries have currently planned an increase in fuel oil which is scheduled for April 1, the government will still be able to stabilize oil prices this month. They do not guarantee that next April, if the war between Iran, Israel and the US is not stopped, this is a threat and will be a bad situation for the global economy.

The condition of middle east is very insecure currently due to USA and Iran conflict and this war is not only affects these countries but also globally its effect many countries directly or indirectly and mainly the countries of Asia. The reason is that the middle east is the main supplier of oil in the world and if war continue for long time then the prices of oil may increased. And for oil dependent countries there all departs majority depends on oil supply and if oil prices increases then its affects transportation and transportation effects almost all the countries which may lead to inflation. Governments trying to maintain prices of oil for short time but for long time its impossible for governments to maintain it and obviously due to increase in oil prices leads to inflation. And with start of April prices continue to increasing which also the sign of pressure and if its continue then it will cause serious financial problems for other countries. So to regulate the trading market peaceful conversations between these two opponents is very important.

[Akbarkoe]

Thank you everyone for answering my thread, and it was quite satisfying, I really appreciate it.
From what I see it turns out that the average answer has a fairly large price increase for fuel in their respective countries, I hope that it does not continue and all forms of conflict must stop so that we can live comfortably and calmly as before, what is happening in the Gulf country makes us indirectly affected.

Every country in Eu has some sort of tracker to monitor the prices over different stations, most chains have also live tracking at specific gas stations
https://fuelo.eu/

Anyhow, if we talk % Europe is the most shielded of all
We already pay more than half of the gas prices due to taxes, so raw oil is actually not even 25% of the current price, so even if it doubles our price won't rise more than 25% , it needs to quadruple to $280 so that our prices would be double what they were.
At at $280 per barrel, demand destruction will hit,  half of the world would stop using oil before that as they can't afford it.

It's a good tool I can see it well here, 30 days earlier until today in these European countries did not have a significant increase in prices, thank you sir, it seems that the government here is quite solid and has its own way of controlling the price of fuel oil.

~snip~

I am aware that a lot depends on oil, but we also have to prepare for the time when there will be no more oil because reserves are dwindling and in 50+ years there may not be enough oil left to power the world as it does today. The energy of the sun, wind and water is something that we can all use, and solar power plants are more and more affordable and in combination with batteries (which are still very expensive) in regions where there is a lot of sun, they can play an important role.

I assume that your country has a lot of sunshine during the year, so perhaps an investment in solar panels could somewhat reduce the dependence on fuel for generators, and with an electric scooter or a smaller electric car that would be charged with solar energy, you could be independent in terms of transportation. I know it's not cheap, but you always have to have an alternative in mind.

Utilizing solar heat, geothermal, wind power and water, this is a pretty good idea to reduce dependence on fossil energy obtained from other countries, we can be self-sufficient in energy by using batteries, although this takes quite a long time especially if you look at the components that are relatively expensive in making energy storage (batteries), and also with human resources that must be qualified as well, and of course the ecosystem on supporting infrastructure and facilities as well which will take a lot of time and money, but it will be a great hope for the future of a country if it can be energy independent.

[Darker45]

... there is a price increase of approximately 6.05%...

...maybe the price spiked up like 5% max...

The price of gasoline has not increased.

You guys are in a much better place. I can't believe it. From where I am, before the war, the price of gasoline per liter was only around $0.87. Today, weeks within the ongoing war, the price has already climbed to $1.53. Just hours ago, there's news of another upcoming increase in petroleum products.

Things are getting worse by the day. The increase has already breached 75%. That's from where I am. It might be lower or higher depending on specific locations.

Aside from the war in the middle east, the increase is a compounded effect of the weakening local currency, incompetence of the leadership, among others.