petrol sitution in all world
The Worst Petrol Situation in World
We are currently witnessing an unprecedented crisis in the world's petroleum supplies, and the situation has gotten even worse. The prices are soaring, supply is tight, and there's a strain on the supply chain from a methanol pandemic. What exactly are the consequences of such a crisis? Let's examine the situation in a bit more detail. But first, let's look at the reasons behind the crisis.
Prices
Fuel prices vary significantly from country to country, particularly in Europe, where some countries can be as high as $6.00 a gallon. Iceland, Finland, Greece, Denmark, and Norway were among the countries that were able to maintain this price. These countries also imposed higher taxes on gasoline, while other countries had lower taxes than the United States. Moreover, the United States was ranked 73rd in the world when it came to gas prices, while Canada ranked fourth in the world.
Gasoline prices vary across different countries, with Venezuela and Libya having the lowest average prices at $0.03 USD per liter. Similarly, oil prices have fallen in Syria and Brazil, with the latter country seeing a four-figure decline in petrol prices. However, the average price per gallon in the United States has decreased dramatically, despite the fact that the United States has more oil-producing reserves than any other country in the world.
The IRU's online service provides detailed fuel price data for countries all around the world. Users can compare prices across up to five countries, choose a favourite currency, and select key indicators to track the evolution of selected prices over time. Prices are updated weekly, and they require membership to access. In addition to the IRU's service, the ITU's website also provides data on oil and gas prices in the United States, Canada, and Western Europe.
Supply
This week, retail gasoline prices soared to record highs in many countries, spurring governments to pump more subsidies and trim taxes. The rising cost of fuel is a reflection of both political and economic risks. The surge in fuel prices is driven by a rebound in fuel demand since the Coronavirus pandemic and supply disruptions in the aftermath of the Ukraine invasion. However, the risks do not end there. In the coming days, the world could face a shortage of the fuel needed for transportation.
The oil and gas industry is heavily dependent on plentiful petroleum supplies at reasonable prices. The petroleum industry is facing significant challenges domestically and internationally, including the need to reduce its greenhouse gas emissions to avoid dangerous climate change. Increasing energy prices will also increase the use of alternative sources, including natural gas and LNG. Increasing energy costs mean that supply chains may need to be re-arranged around alternative supply points. Consequently, increased production from US drillers and OPEC nations is a major threat to the industry.
Pandemic strain
Britain's transport secretary has blamed an industry association for leaking details about the fuel shortage. According to Shapps, BP told the government that it only had two-thirds of its normal forecourt stock. News reports of petrol stations struggling to meet demand have encouraged panic buying, which has exacerbated the situation. In the UK, a shortage of 100,000 HGV drivers has been reported, adding to the problem.
Despite the government's claims, the crisis has already started affecting Britain. There are long queues outside gas stations, and panicked drivers may even fight for empty pumps. In some parts of Britain, soldiers are distributing fuel around the country, but this has yet to be confirmed. The Pandemic Strain of Petrol in the World
The outbreaks of influenza pandemics traditionally began in southern China. The recent H1N1'swine flu' pandemic was thought to originate in Mexico and the southern US. Its incubation period is longer than that of a typical virus. However, it is not impossible for an epidemic to spread rapidly in a city. Nevertheless, most countries have prepared for the eventuality of a global pandemic in advance.
Driver shortages
The United Kingdom is in the grip of a long-running petrol crisis, with military tanker drivers being called in to deliver fuel to petrol stations. Meanwhile, shortages of truck drivers have led to the buildup of containers at the port of Felixstowe in Suffolk, UK. Because of this shortage, large shipping companies have rerouted some of their cargo to continental Europe. A recent report in German news magazine Der Spiegel said that the British government had sent letters to its citizens in Germany, asking them to consider driving trucks.
The UK's petrol crisis is a global problem and has implications for countries around the world. According to a report by Transport Intelligence, Poland has a driver shortage of 120,000, while Germany and France have four-to-six-thousand-driver shortages, respectively. The driver shortage is not confined to Europe; the US is facing a similar challenge, with a projected shortage of around 60,000 drivers in 2019 and over 100,000 by 2023.
The fuel shortage in Britain is the latest sign that the supply chain is out of whack. Images of a man brandishing a knife at a gas station queue have gone viral. Meanwhile, the Transport Minister Grant Shapps has urged drivers to stop using old plastic bottles to fill up their fuel tanks. This is an effort to ensure safety and prevent a potential spillage. It is not clear if the shortage in Britain is the fault of the government or the drivers themselves.
Refining capacity
The global refining industry is projected to increase by a further ten million barrels per day (MMBD) by 2023, representing a 12% increase over the last 10 years. According to a renowned consulting firm, the average capacity of refineries in the last decade is 125-150 MBD, meaning that 60-70 additional refineries will be needed to meet the current growth in global demand. The fastest growing regions for refining capacity are China and India, where refining capacity is increasing at a fast rate.
Refinery capacity is the maximum throughput a refinery can produce. Most refineries measure capacity by the volume of crude oil they process, although some refineries measure capacity by product output. The refinery capacity of a country varies, but it is generally in the range of one million to two hundred thousand barrels per day. Several countries have been adding capacity in recent years, but most of them have not been adding to their supply.
Russia ranks third in the world in terms of oil refining capacity. With a capacity of 6.5 million bbd, Russia is one of the world's largest oil producers. It also has a significant number of refineries, including several operated by the state-owned Rosneft. As the world's largest oil producer, Russia is likely to continue to lead the way in fuel and chemical development.
Government subsidies
The most expensive fuel on the planet has become the subject of heated political debate and protests. A recent move by the government of a large energy-exporting country to scrap generous fuel subsidies has sparked a wave of violence. Hundreds of protestors clashed violently with security forces in the capital, Bangkok, as they expressed their anger over rising fuel prices, lack of social services, crumbling infrastructure, political repression and soaring fuel prices. As the world's biggest consumer of oil and gas grows increasingly price sensitive, it's not a surprise that the government of Ecuador has backed off its decision and reinstated the subsidy.
However, there is no single event that can solve this global problem overnight. Implementation of full reforms requires a gradual process, with clear targets for each step. In particular, NDCs should specify the fuels targeted and benchmarks for progress. In addition, countries should codify their reform pathways to prevent backsliding. Direct cash transfers should also be a key part of any reform process, as this can maintain benefits for low-income groups. Transparency must be maintained in price setting and accounting of subsidies.
In 2010, government subsidies for fossil fuels dropped by 40%. In the same period, subsidies fell to a low of USD 180 billion. The decline in subsidies is correlated with the collapse in energy prices, which meant governments didn't have to pay as much to keep costs low for consumers. In the next decade, however, this trend is likely to reverse. Fuel subsidies continue to be one of the largest economic burdens of our time.