Tuesday, March 8, 2011

Gasoline in Europe Hits $8.63 a Gallon

In Europe, gasoline has just hit an all time record of $8.632 per gallon, writes ZH.

HLN.be reports: "tomorrow the price of gas will reach an absolute record. Petrol 95 can hit €1.624 per litre. This breaks the 2008 record of €1.61 per liter." Converted into American dollars this means that a gallon of gas in Europe is now an unprecedented $8.632 per gallon.

Although, there is some cut off in supply from Libya, the crises in MENA appear to be simply a catalyst that is igniting overall price inflation, which is the result of major money printing by the Fed, the ECB and the PBOC. It's not going to be pretty.

The highest price for gasoline in the United States appears to be outside Los Angeles in West Covina, California.

Reports the Pasadena Star News: At a Mobil gas station in Covina at Azusa and Garvey avenues, premium prices at the station were $4.71 and $4.81.
"Based on our numbers, that's the highest," said Patrick DeHaan, senior petroleum analyst for Gasbuddy.com. "There could be others out there."


  1. Report from Estonia:

    Petrol 95 is slightly cheaper here, as we are still catching up with others - it costs €1.260 per liter. HOWEVER!!! Average salary in Estonia is €789 per month (or $13,160 per year). This is the average!!! The minimum wage is €278 per month ($4630 per year).

    And everybody has a car here as well, since we are still very developed in terms of e-solutions and so on (Estonia is covered with free WiFi, 3G and 4G networks... and Skype was invented by us). Having said that, it sounds quite ridicules to see you guys worrying about gasoline prices. When you compare your salaries to your unbelievably cheap gasoline, well... yeah...

  2. 1.62 euro a liter
    I will fuel up there

    NOT in the Netherlands
    1.72 euro a liter for euro95