BoaterTalk: LiquidLounge: Being able to pay for oil in another currency than the dollar also doesn't help.

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Being able to pay for oil in another currency than the dollar also doesn't help. New

Forum: LiquidLounge
Re:

More gasoline price news... rlhartman New
Re:

Oil has gone up in relation to the dollar by 500% in about 5 years... Chrisj New
Date: May 16 2008, 12:23 GMT
From: Wilko


	Until recently, a country that wanted to buy oil needed the dollar, which helped to keep demand for the U.S. dollar up. Now one can buy oil for other currency like the Japanese Yen, the Euro or the Chinese yuan. Besides, the inflation of the U.S. dollar over the last decade doesn't help with the oil price either. With the speed at which the dollar loses value, relatively speaking the oil price in Euro doesn't really move up all that fast. Then again, despite that, what is being paid for fuel in the U.S. with the U.S. dollar is still peanuts compared to what is paid here. Why shouldn't the fuel prices in the U.S. be similar to western Europe? We pay 9,42 US$ a gallon right now.

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