Are Energy costs impacting Europe/UK/Russia?

[c1ue]

I touched upon this in a previous discussion, but a talk with a friend of mine brought this back to the fore.

How much of an impact have energy prices made on Europe, the UK, and Russia?

             2000     2007
Europe       1.096    1.372 (1.237)
UK           86.9     102.8
Russia       17.8     20.5

Details below.

So there has been a 9%, 18%, and 15% increase in gasoline prices in these areas since 2000. Significant, but hardly a major economic impact.

Contrast this with the US: $1.67 in 2000, $3 now
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Europe:

http://www.businessweek.com/2000/00_36/b3697164.htm

In Germany, motorists cringe at every visit to the gas pump, as the cost of filling up a Mercedes luxury S-class auto has climbed in the past year from $55 to $85.

Yet there is no sign of the euro recovering. It is still bumbling along just above its historic low of 88.44 cents.

This implies a euro cost of fillup rising to 75 Euro.

http://www.theautochannel.com/vehicl...benz_2000.html

From the above link, capacity for fuel is 18 gallons = 68.4 liters, implying a price of 1.096 euro/liter.

Price of gasoline in Europe today:

http://www.aaroadwatch.ie/eupetrolprices/

Average price across EU zone: 1.237 Euro/liter. In Germany, 1.372 Euro/liter

UK:

http://www.theaa.com/motoring_advice/fuel/index.html

September 2000 (petrol price riots): 86.9
Today: 102.8

Russia:

My own recollection

February 2000: 17.8 ruble/liter
December 2007: 20.5 ruble/liter

[BlackVoid]

Re: Are Energy costs impacting Europe/UK/Russia?

In mainland Europe - there is absolutely NO EFFECT. The price increase was fairly gradual and not very much.

[BlackVoid]

Re: Are Energy costs impacting Europe/UK/Russia?

"In Germany, motorists cringe at every visit to the gas pump, as the cost of filling up a Mercedes luxury S-class auto has climbed in the past year from $55 to $85."

LOL. Anyone who has a Mercedes S class car, does not even look at the bill - it is irrelevant. Also quoting dollars is just STUPID. Nobody in Europe calculates or cares about the price in dollars.

At least in my country (Hungary) noone is talking about high gas prices. Not the people, not the media. The price of crude may be at an all time high, but the price at the pump is about the same it was in the last few years.

[metalman]

Re: Are Energy costs impacting Europe/UK/Russia?

"In Germany, motorists cringe at every visit to the gas pump, as the cost of filling up a Mercedes luxury S-class auto has climbed in the past year from $55 to $85."

LOL. Anyone who has a Mercedes S class car, does not even look at the bill - it is irrelevant. Also quoting dollars is just STUPID. Nobody in Europe calculates or cares about the price in dollars.

At least in my country (Hungary) noone is talking about high gas prices. Not the people, not the media. The price of crude may be at an all time high, but the price at the pump is about the same it was in the last few years.

thanks for the report from Hungary. how's the economy there in general? inflation rising?

itulip needs to write an open letter to the business press: "it's the dollar, stupid"

they just don't get it. oil's priced in dollars and the dollar has declined over 30% over the past six years while the euro has increased... so of course oil is not going to rise as much in euros as in dollars. also, gasoline is heavily taxed in europe vs in the usa. and you're right about the silly case of luxury car drivers. it's the average wage earner trying to commute to work in his suv from the suburbs that's getting hit.

Car sales are rising while truck, van, and SUV sales plunge, because buyers are putting a premium on fuel economy.