As an European I find this strange that the government deduct taxes for oil companies. Not like oil business have been in any economic crisis the last 100 years.
If you wonder how much the price for petrol is in Europe I don’t know for every country but here in Sweden it’s about 8.70 USD/gallon.
The gas price will continue to rise in the US for several reasons.
The weak dollar, the dollar starting to reach all time low values, two years ago 1 USD cost me over 9 SEK (Swedish krona), it’s now at 6.05 (SEK/USD), a 30% drop in two years, oil producers raises the price as the dollar drops.
Countries like China and India starting to buy more oil as there industries and consumptions levels sky-rocketing, over 2.5 billion people in those countries that wants what we got, a car, a house, cheap food and so on.
Expect 6 USD/gallon within the next couple of years if these things continues.
As an European I find this strange that the government deduct taxes for oil companies. Not like oil business have been in any economic crisis the last 100 years. If you wonder how much the price for petrol is in Europe I don’t know for every country but here in Sweden it’s about 8.70 USD/gallon. The gas price will continue to rise in the US for several reasons. The weak dollar, the dollar starting to reach all time low values, two years ago 1 USD cost me over 9 SEK (Swedish krona), it’s now at 6.05 (SEK/USD), a 30% drop in two years, oil producers raises the price as the dollar drops. Countries like China and India starting to buy more oil as there industries and consumptions levels sky-rocketing, over 2.5 billion people in those countries that wants what we got, a car, a house, cheap food and so on. Expect 6 USD/gallon within the next couple of years if these things continues.