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Originally Posted by Bartholomew Roberts
The crude oil prices are taken from the average price of a barrel on NYMEX. It takes a couple months before a price change on NYMEX is felt by the consumers because the oil still has to be shipped and refined.
And just an update on the price of diesel in CT: it just hit $4.50 a gallon last week. At least where I live, I don't know what the average is for the state.
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Indeed, the current stock exchange prices for the barrel of oil are indeed for oil that is due for delivery not until the end of June.
Quote:
Originally Posted by Shiva_TD
Are most Americans aware that fuel (gasoline and diesel) in most European countries has been selling for around $5/gal for a decade? My wife went to Italy last year and most people don't even own lawn mowers (they cut grass with a scythe at the estate where she stayed) because gasoline has been so expensive. Try that in suburban America.
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I can't remember seeing anyone in the suburbs using a scythe, but you'r right that gas powered lawnmowers are certainly a no-go and have been for years here in Europe. Most are either electric powered or hand powered.
In any case, I really feel like this is part of a phenomenon that is changing what the West defines as "luxury". From what I can dicern, this transformation is going along fairly well in Europe while in the US, partly due to the still rather low gas prices, it's probably still not grabbing hold.
If you think about it, atleast in Europe, it no longer means luxury to own a car. It means luxury to be able NOT to own a car. Nowadays anyone can own a car, but how many people can say of themselves that they are in the opportune position to be able to say they do not need a car?