| Chris Hu said: Well it all good but I still remember when it was less then a dollar in the late 80s and most of the 90s (moved to the US in 1988). Milk went up a lot though less then a year ago there where still some places where you could get a gallon for 99 cents or $1.49 and most places had it for under 2 dollars. Right now the cheapest milk in my area is $2.59 for a gallon at Aldi. |
Gas only seems cheaper back in the day because of inflation.
$1 in 1970 = $6.09 in 2014
$1 in 1975 = $4.39 in 2014
$1 in 1980 = $2.87 in 2014
$1 in 1985 = $2.19 in 2014
$1 in 1990 = $1.81 in 2014
$1 in 1995 = $1.55 in 2014
$1 in 2000 = $1.37 in 2014
$1 in 2005 = $1.21 in 2014
"On my business card I am a corporate president. In my mind I am a game developer. But in my heart I am a gamer." - Satoru Iwata
America has always had cheap fuel. I went to Florida back in 2005. A guy was stunned to find out we were paying about $2 per litre while he was whinging about paying just over $2 a gallon.
Damn.... mean while here in Sweden we pay 6.8$ /gallon...(50% of it is just taxes)
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And shepherds we shall be,
For Thee, my Lord, for Thee. Power hath descended forth from Thy hand, That our feet may swiftly carry out Thy command. So we shall flow a river forth to Thee And teeming with souls shall it ever be. In Nomine Patris, et Filii, et Spiritūs Sancti. -----The Boondock Saints
| Clyde32 said: They want to smoke out Russia. |
This. It's a war fought with economy so far. Let's hope it stays that way.
Also, the prices of other goods won't go down so fast. That takes a whole lot of time and it remains to be seen if the situation keeps on like this. At the moment, the USA became the largest oil country in the world thanks to fracking. But with the current prices, it doesn't make any economical sense anymore to get new sources, the price for fracking is just too high. America keeps up anyway to hurt russian economy and that with huge success as the russian economy is pretty much down to its knees. Anyway, we'll see what will happen. Will also be interesting to see the long-term effects on the environment. All that fracking could backfire big time on the US in the future.
A gallon of gas in germany is 4.92 € btw. That equals 5.91 $.
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irstupid said:
The price of gas has absolutely nothing to do with Fracking. It's mainly Saudi Arabia selling oil for super cheap. Hell these cheap gas prices will probably put american companies doing the Fracking out of business cause fracking is not cheap and at oil prices at what htey are now, they won't make any money. |
Well, I hope you're right.
What happened 2986? What 2009?
http://en.wikipedia.org/wiki/Price_of_oil#mediaviewer/File:Crude_oil_prices_since_1861.png
| SvennoJ said: Last time I got gas it was down to 96 cents a liter (Canada) (was near 1.50 before) That can't be good for the economy. Revenues from exporting the expensive to mine oil sands are down. The environment will suffer most as budget cuts will be made. Alternative energy solutions will also be put on hold as they are much less competitive now. Bad for oil exporting countries/provinces, bad for the environment, good for everyone else. |
It's a welcome relief to a lot of people in the UK. It was up to £1.36 a litre at one point, it's now dropped down to £1.09 where I am ($1.96 cad) which should hopefully help bring the general cost of living down a bit.
It will reduce government revenue through fuel duty, but the expectation is that any savings passed onto consumers here at the moment, will go straight back into other spending helping boost the overall economic recovery.
Awful news for the likes of Russia. The OPEC countries don't seem too concerned at the moment, I do wonder if they're trying to squeeze the shale boom etc out of the market with such cheap prices.
RIP Dad 25/11/51 - 13/12/13. You will be missed but never forgotten.
| WagnerPaiva said: Russia gets angry. Nuke fly. There, these are your ramifications. Enjoy your cheap gasoline. |
Who would they nuke? The West is actually at the mercy of the OPEC countries when it comes to controlling oil prices. Saudi Arabia have said they are happy to keep oil production at it's existing levels and will not intervene even if the price continues to drop. So would Russia be nuking the middle east?
RIP Dad 25/11/51 - 13/12/13. You will be missed but never forgotten.
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