Ever wondered how gas prices around the World compare to yours? Check out this post…

Interesting to note that Gasoline in the Caracas is only at $0.17/gal, while somebody pointed out that Iceland has $7.91/gal at the pumps. Probably because with a population of only 301,931 they can’t get volume discounts for their oil purchases.

Update: In the Philippines, as of July 8, 2007. Our pump price of unleaded fuel is at P41/li. Current exchange rate is at $1=Php 46.

A category 5 hurricane (that’s a typhoon to those who are in my part of the hemisphere) is on its way to Iran and Oman and packing maximum sustained winds of 257 kph. Bad news for us but most likely good news to the people who like to speculate on the price of oil. And I feel that there’s just enough drama in a typhoon in the middle east to drive the price of fuel up. The tropical Cyclones name is Gonu… as in “Gonu see the price of oil go up now…”
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The Russian Ambassador Vitaly Vorobiev announced that they are planning to speak to local energy officials with regards to their plan to install an Oil Refinery, Storage Facilities and to make the Philippines their hub for the distribution of Oil to South East Asian Countries. This is so that they can compete competitively with their middle east counterparts who are supplying majority of the Oil in this region. The benefits of course are profits to them and cheaper oil for South East Asia.

My thoughts on this idea:
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The 2007 Fortune 500 list of the most profitable companies has 3 American Oil Companies making the top 10 rung. Exxon Mobil was the most profitable company in the US as it came in no. 1 with an income of $39 B. The 7th spot was occupied by Chevron which had an income of $17.1B followed by ConocoPhillips in the 8th spot which made $15.5 Billion last year.
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