Question regarding price of gasoline

I have a question for you smart folks. Is this, below, correct?

1 US gal = 3.785 European Liter

1 Euro = 1.3226 US dollar

 

Price of petrol in Europe is sold by liter rather than by gallon.

Average price of a liter of gasoline (petrol) in Europe is 1.40 Euro/liter

Simple (not exact) conversion:

1.40 Euro = $1.60 dollars

1.60 x 3.785 = 6.056 or $6.06 per gal in US dollars

 

17% of price at US pump is tax (combined State and Fed)

70% of price at pump in Europe is tax (part of tax is for Universal Health care)

Source: http://goeurope.about.com/od/transportation/a/gas_prices.htm

Equivalent cost for gasoline in Europe - $6.06/gal

70% of price is tax = $4.24/gal

European cost per gal = $6.06 minus $4.24 = $1.82 per gal actual cost of gasoline after tax

 

Average price per gallon of gasoline in US = $3.86

17% of price is tax = 66 cents/gal

US cost per gal = $3.86 minus 66 cents = $3.20 per gal actual cost of gasoline after tax

 

Is this correct?

Views: 860

▶ Reply to This

Replies to This Discussion

Permalink Reply by Krkyoldhag on March 25, 2012 at 12:34

I never aspired to  live as the Europeans lived.  First time my hu sband was in England  people had to feed electric meters with shillings just like you would have a pay telephone. 

I can promise you that up til my last trip there I certainly was homesick for good old USA and the way we do things here. 

The whole thing great about USA was that we had a life that other countries' citizens wanted for themselves. 

But now we as a nation have been "dumbed" down in every aspect from education to jobs to living standard.

RSS

Support GoHaynesvilleShale.com

Top Content 

1 Looking Back At The Haynesville Shale - A Retrospective

Looking Back At The Haynesville Shale - A Retrospective
2 Pending Public Oil and Gas Hearings

Pending Public Oil and Gas Hearings
3 Comstock October Presentation

Comstock October Presentation
4 Notice Emails Are Back! Please review how they work.

Notice Emails Are Back! Please review how they work.
5 Arkansas O&G Commission unanimously denies royalty rate application for lithium extraction

Arkansas O&G Commission unanimously denies royalty rate application for lithium extraction
6 Aethon looks for Buyers of its Haynesville Assets

Aethon looks for Buyers of its Haynesville Assets
7 Landowners in Haynesville, La

Landowners in Haynesville, La
8 Alarm Bells Are Ringing

Alarm Bells Are Ringing
9 Authority for Expenditure

Authority for Expenditure
10 Permian Associated Gas Will Depress Haynesville Gas Prices Long Term

Permian Associated Gas Will Depress Haynesville Gas Prices Long Term

Not a member? Get our email.

Groups



© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service