Pulaski

Ouch!

Michael

Both the Japanese Yen and the Euro were overvalued (purchasing power parity) in relation to the US$ so now they are just slightly undervalued.

scrubbedexpat091

Went up here to 1.25 CAD per liter. Canadian dollar has been slipping against the USD, down to about 88 cents, getting to a point now no point in shopping in the US, falls much more border towns are gonna take a hit again.

Yorkieabroad

Filled up at 2.73 this morning at HEB....was running on fumes, and couldn't have got much further. On my way back home, 50 miles or so later, I dropped into Costco and they were at 2.56. Ouch

Mr Weeze

Filled Weeze's mega-SUV there yesterday and it was cheap!

jtb87

Shell in Richardson TX (Renner/Shiloh) 2.55/gallon

Beaverstate

Can you come up with a graph showing gas prices around the world per $ or any other currency.
Such as Venezuela charges 6 cents per gallon.

Michael

This web site has it in US$ per liter. They give it away at $0.01 per liter in Venezuela, $0.86 for the US, $2.00 in the UK, and $2.26 in oil rich Norway. Norway's price is exaggerated since it's currency is over valued in relation to the US$ but the Turks are paying a large percentage of their income at $2.13 with low wages and an undervalued currency. Because of the difference in wages between Turkey and the US and it's undervalued currency, that would be probably equivalent to about $16 per liter for Americans since median household income in Turkey is about PPP$8,000 compared to PPP$55,000 in the US.

Gasoline prices around the world, 03-Nov-2014 | GlobalPetrolPrices.com

The following is the link I used for purchasing power parity (PPP). It is updated daily and it tells how PPP is calculated.

Purchasing Power Parity

Therefore to understand the true cost to consumers of each country, you have to know the median household income in PPP$ and the price at the pump in US$. PPP$ remain stable for countries as currencies move against each other and that is why it is used for comparisons. If they just used the current exchange rate, next year the exchange rate could be totally different than the previous year but for most products and services in a country, prices didn't change. However products like the price of gas at the pump does change when currencies move against the US$.

1 PPP$ equals 1 US$ so all comparisons are made against the US$.

Median household income is normally used instead of average household income since median is the income where 50% are making less and 50% are making more. Average is generally higher than median since a few people making very high salaries can have a large effect on the average. As an extreme example, if nine households were making $1 and one household was making $1 million, median would be $1 but average would be $100,001.

Michael

The following chart is the equalized disposable income in PPP$ for 2011 for OECD countries.

Glossary:Equivalised disposable income - Statistics Explained

Michael

Crude oil is in a freefall dropping another 3% this morning with Brent just above $82 and WTI just above $76.

The Japanese Yen has also weakened again to above 113 to the US$.

Michael

Average US gas and WTI crude oil price chart during the past 2 years.

Historical Gas Price Charts - GasBuddy.com

Bob

Starting to go back up, tipping towards the $3 mark again :/

Yorkieabroad

Only for very good service if the check is below $20....

hungryhorace

Ooh, I see what you did there! haha.

Yorkieabroad