Fuel Prices - Jan 2016

[Packofcrows]

Ireland hit $10/gallon a year or so ago. Crazy!

[Tcoat]

Originally Posted by Packofcrows

Ireland hit $10/gallon a year or so ago. Crazy!

Ya but you can drive across the country with about 3 gallons.

[Packofcrows]

Originally Posted by Tcoat

Yep when I first got the car 91 was $6.04 a gallon. Now it is about $4 so that is great. And DO NOT apply the exchange rate to that! I am paying in Canadian dollars in Canada so the exchange rate does not reflect value just currency differences.


Unfortunately the low prices that seem so great in the short term are part of what is kicking the crap out of the Canadian economy and causes grief in the long term.

haha I was just about to!

How much is avg income you guys receive/month? overall.

[Tcoat]

Originally Posted by Packofcrows

haha I was just about to!

How much is avg income you guys receive/month? overall.

About $36K compared to the US $35 K but that is only part of the picture. All things considered we are about equal when looking at everything just inside the country. Exchange rate do not reflect value of goods at all and should not be considered. Right now the rate is horrible for use and would make everything look about 30% more expensive then it actually is if converted to US dollars. Couple of years ago the Canadian dollar was stronger than the US by about 5%. If you applied the exchange against the price of a can of Coke it would look like 2 years ago it cost 95 cents and now a $1.30 when in fact it actually only cost us $1 all along. A Canadian dollar in Canada is a dollar and does not rise and fall in value with the exchange rate. In summary or prices can not be converted to US dollars in any accurate form (although I am sure there are economists that can show how it should be done).

[Packofcrows]

Originally Posted by Tcoat

About $36K compared to the US $35 K but that is only part of the picture. All things considered we are about equal when looking at everything just inside the country. Exchange rate do not reflect value of goods at all and should not be considered. Right now the rate is horrible for use and would make everything look about 30% more expensive then it actually is if converted to US dollars. Couple of years ago the Canadian dollar was stronger than the US by about 5%. If you applied the exchange against the price of a can of Coke it would look like 2 years ago it cost 95 cents and now a $1.30 when in fact it actually only cost us $1 all along. A Canadian dollar in Canada is a dollar and does not rise and fall in value with the exchange rate. In summary or prices can not be converted to US dollars in any accurate form (although I am sure there are economists that can show how it should be done).

So interesting USD going up while CAN and MEX peso so low. Almost 20 pesos to 1 dollar. Queue X-Files theme song.

[Tcoat]

Originally Posted by Packofcrows

So interesting USD going up while CAN and MEX peso so low. Almost 20 pesos to 1 dollar. Queue X-Files theme song.

We went down because of the price of crude dropping so low. We stayed down and plummeted further because we have a new government just in place. We need crude to rise and the government to prove itself before we can hope to climb back up.

[nzer]

Originally Posted by Tcoat

To give perspective (that could be the equivalent in value to a much lesser number elsewhere) what is your minimum wage there, presuming you have one? What does a can of Coke cost?

Here's some prices here @Tcoat if you want to do some maths - all in NZ dollars:

Can of Coke - $19 for 18 cans or $1.06 each
Big Mac - $5.50
Minimum wage - $14.75/hr or $30,680 per annum
Median wage - $51,000
Average (mean) wage - $50,229

91 octane - $1.78/litre
98 octane - $1.99/litre ($7.19 per US Gallon)
Diesel - $0.909/litre

[mdm]

Originally Posted by nzer

Median wage - $51,000
Average (mean) wage - $50,229

You sure about this? Normally median wage is lower than average wage because the salary distribution has positive skewness.

[Tcoat]

Originally Posted by nzer

Here's some prices here @Tcoat if you want to do some maths - all in NZ dollars:

Can of Coke - $19 for 18 cans or $1.06 each
Big Mac - $5.50
Minimum wage - $14.75/hr or $30,680 per annum
Median wage - $51,000
Average (mean) wage - $50,229

91 octane - $1.78/litre
98 octane - $1.99/litre ($7.19 per US Gallon)
Diesel - $0.909/litre

Yep! That is telling. The minimum wage alone would show that your prices would be "higher" there.
Of course far from a scientific formula and very rough but a at your rate a gallon of fuel would cost about half an hour's pay at minimum wage.
When fuel here is at it's "normal" price it is around $5.50 and our minimum wage is $11.25, so about half an hour's pay.
A quick and dirty average minimum for the US is about $7.50 and the the "normal" price for gas would be around $3.50.
See the pattern?
There are of course many other things that impact prices so this is just for comparative purposes only but really show that what appears "expensive" in another country is not always so bad.

[nzer]

Originally Posted by mdm

You sure about this? Normally median wage is lower than average wage because the salary distribution has positive skewness.

Checked again and I think you're correct.

The median I gave was for those in full time employment so excluded part-time workers and those on government benefits/subsidies. The median for all working age adults is $32,292 per annum.

[gravitylover]

So after property/school taxes, med ins. and income taxes I would be in the red...

[Futaba]

Went to the same pump again tonight and all of the prices have dropped another 2-5 yen, just how low is it going to go, but more importantly, just how long will.it be low?
Feel like I'm playing the stock market when filling up my emergency fuel can!

[p1l0t]

Originally Posted by Futaba

Went to the same pump again tonight and all of the prices have dropped another 2-5 yen, just how low is it going to go, but more importantly, just how long will.it be low?
Feel like I'm playing the stock market when filling up my emergency fuel can!

Hahaha I know. I want to put new tires on my 74 Lincoln just so I can go fill up the 21 gal tank while it's cheap to do so. Not that I want it full of road salt though..

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[Dadhawk]

I filled up this morning and Premium was $2.019... so close...