World
As oil is almost totally priced in US dollars (at the moment) the
increase below will have to be converted into your own currency.
Obviously, movement in exchange rates will raise or lower the price of
petrol without any movement in crude prices at all.
If your currency becomes weak relative to the US dollar the price of
petrol and diesel will go up no matter how stable the oil price.
If your currency strengthens against the US dollar, the price you pay
for petrol and diesel will go down, no matter the international oil
price hasn't moved in any direction at all.
If the price of crude oil surges by:
$US1 add 0.65 US
cents per
litre to what you are paying at the pump
$US2 add 1.03 US
cents per
litre to what you are paying at the pump
$US3 add 1.95 US
cents per
litre to what you are paying at the pump
$US4 add 2.60 US
cents per
litre to what you are paying at the pump
$US5 add 3.25 US
cents per
litre to what you are paying at the pump
$US6 add 3.90 US
cents per
litre to what you are paying at the pump
$US7 add 4.55 US
cents per
litre to what you are paying at the pump
$US8 add 5.20 US
cents per
litre to what you are paying at the pump
$US9 add 5.85 US
cents per
litre to what you are paying at the pump
$US10 add 3.60 US
cents per
litre to what you are paying at the pump
This very rough formulaic approach can allow you see how much more you
are paying now relative to a previous time (or price point).
For example, in june 2005 petrol hit $US60 a barrel. By mid august it
was about $US65 a barrel. This jump is likely to increase the cost per
litre by just over 3 cents (US money).
If there is a refinery bottleneck around late 2007 oil might be
pushed by futures traders to the 'psychological' $100 a barrel. This
jump (from june 2005 levels of $60) is likely to increase the
cost per litre by ($40, and thus 4 x the $10 increment of 3.6
cents) about 14 cents (US money) a litre.
USA
Oil is currently almost exclusively traded in US dollars. If the price
of crude oil surges by:
$1 add 2.5 cents per gallon to what you are paying at the pump
$2 add 5 cents per gallon to what you are paying at the pump
$3 add 7.5 cents per gallon to what you are paying at the pump
$4 add 10 cents per gallon to what you are paying at the pump
$5 add 12.5 cents per gallon to what you are paying at the pump
$6 add 15 cents per gallon to what you are paying at the pump
$7 add 17.5 cents per gallon to what you are paying at the pump
$8 add 20 cents per gallon to what you are paying at the pump
$9 add 22.5 cents per gallon to what you are paying at the pump
$10 add 25 cents per gallon to what you are paying at the pump
This very rough formulaic approach can allow you see how much more you
are paying now relative to a previous time (or price point).
For example, in june 2005 petrol hit $US60 a barrel. By mid august it
was about $US65 a barrel. This jump is likely to increase the cost per
gallon by 12.5 cents.
If there is a refinery bottleneck late in 2007 oil might be
pushed by futures traders to the 'psychological' $100 a barrel. This
jump (from june 2005 levels of $60) is likely to increase the
cost per gallon by ($40, and thus 4 x the $10 increment of 25 cents) $1
a gallon.
How can you reduce fuel consumption
short of buying a motorscooter?
Gasoline
consumption can be reduced by 10% to 20% by -
- checking your tires are properly inflated
- sticking to or below the speed limit
- consolidating your trips
- keeping your vehicle tuned
- driving 'as if you have an egg under the accelerator' - avoiding
rapid acceleration and hard braking
- Turn off the
ignition if you are waiting, as one minute of
idling uses more fuel than the fuel needed to restart the engine. Make
sure your handbrake is reliable if you do this on a hill, as switching
off also cuts power to power-assisted brakes.
- Switch off the air conditioning. Air conditioning increases fuel
consumption by up to 10% in city driving, and by around 3% on the
motorway.
- If it is safe to do so (i.e. doesn't make you drowsy), keep your
windows closed in higher speed motoring. Open windows cause drag, and
increases fuel consumption by a small margin.
- Drive no faster than 55 miles per hour. Speeds over 55 mph disproportionately
increase the effect of drag on forward velocity (twice as fast creates
4 times the drag). Travelling at 75 mph rather than 55 mph can in some
cases use 20% more fuel - depending on road conditions and car design.
What is the cheapest form of motorised
transport?
A bicycle with an electric engine.
Off the shelf electric
motors for bicycles provide speeds of nearly 20 miles per hour on the
flat. The battery is recharged from domestic supply in about 4 hours,
at a cost of cents. Calculated on joules of energy expended before
recharging, the motors give the equivalent of around 1000 miles to the
gallon.
Solar powered trickle chargers would make re-charge essentially free.