“Greed, for lack of a better word, is Good”. An often quoted line of Michael Douglas from his Oscar winning role of Gordon Gekko in the Movie: Wall Street. Sad for us, that in the world of futures trading, the Gordon Gekko’s of the world are the one’s driving up the cost of oil ($128/barrel as of the moment). An article at CNN right now casts light onto the influence of the Oil speculators on the ever increasing price of Oil.
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Thought of updating my old post on Average Philippine Pump Prices for Unleaded and Diesel fuel. This time for 2007 and 2008. Raw data can be found here (as of July 2008).
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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: Historical Gas Prices for Belgium, France, Germany, Italy, Netherlands, United Kingdom and the United States can be found here. Average Philippine Gas Prices can be found here.

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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