Oil crash could mean a litre of petrol will be cheaper than a bottle of mineral water

[webfact]

Oil crash could mean a litre of petrol will be cheaper than a bottle of mineral water



PARIS: -- Fed up with the constant talk of tumbling oil prices? Let’s talk water instead. Let’s invert that old saying and pour water on troubled oil times.

Supermarket bottled water, that is for it appears we are heading for what one respected organisation calls “the bizarre time” when you will stop off at your local supermarket and pay more for a bottle water than a litre of petrol.

Of course it could be some way off but the RAC’s calculations are based on petrol falling to 86 pence a litre in the UK driven by crude oil trading at around 10 dollars a barrel. That’s the latest all-time-low predicted by investment bank Standard Chartered. Oil last fell close to that mark in 1998.

This is how the comparison with petrol, mineral water, Coca-Cola and oil looks at the moment:



All prices for one litre.

Sources
Coca-Cola: price in supermarket (price in litre for a 2-litre bottle in Super U, Tesco, Walmart)
Petrol pump price:
- France: average retail price of one region, data from French government
- UK: The Telegraph
- USA: EIA average retail price in 3 different regions
Mineral water: supermarkets' average price of a selection of waters (Super U, Tesco, Walmart)
Crude oil barrel price: Reuters


-- (c) Copyright Euronews 2016-01-15

[trogers]

Goes to show mineral water is way overpriced...

[BuaBS]

And it shows how insanely rich we have been making oilcompanies & oil producing countries over the last decades.

[phantomfiddler]

A rather pointless analogy I think, since you can,t drink gasoline and you can,t power your car with water. Somewhat similar to saying that the price of a side of beef is much cheaper than a stradivarius

[sanukjim]

That has been the case in Saudi Arabia for many years.

[Krataiboy]

Oil crash could mean a litre of petrol will be cheaper than a bottle of mineral water

Probably taste better, too, than a lot of that overpriced, botulism-tainted bottled muck.

[canman]

A rather pointless analogy I think, since you can,t drink gasoline and you can,t power your car with water. Somewhat similar to saying that the price of a side of beef is much cheaper than a stradivarius

I think it is a rather good analogy. Comparing the money spent, on R&D, exploring, drilling, completeing, installing an oil field, transporting, refining, transporting again etc. to get a litre of petrol to the pump as opposed to putting a lire of water in a bottle and selling it for absolutely astounding markups puts the whole thing in perspective.

I'm no shill for the oil majors but you so often see comments from those who don't know what they are talking about decrying obscene profits of the oil companys. Just watch what happens over the next 18 months if the price stays low. Some majors will disappear, already several support companies have gone to the wall and many more to come. At least 500,000 jobs lost in the industry already and this will grow.

Saudi and the ME will gain back a lot of the market share they have lost over the past 2 decades which will give them control back of world supply and price.

[NickJ]

I remember my Grandmother hating the idea of pay Tv. Shaking her head when plain bottled water became big. She asked what would be next, canned air for sale?. They sell canned air from Canada in China for 49$ a can now......

[MaxYakov]

I remember my Grandmother hating the idea of pay Tv. Shaking her head when plain bottled water became big. She asked what would be next, canned air for sale?. They sell canned air from Canada in China for 49$ a can now......

I've seen empty, sealed tins that were labeled "Instant Water".

[Travelman868]

How much is bottled water outside the EU ??

Why is it that the supermarkets sell water at 4 times the price asked in other countries ???

Just 2 examples of supermarket pricing.

1) Tinned potatoes 180 gm drained weight 45p 360 gm drained weight 15p One fron Morrisons and the other from Aldi

2) Par baked bread 2 pack Morrisons regular 99p Morrisons budget 45p Both these itels are exactly the same Identical ingredients One pack give a weight of 250gm and the other 300gm but they weigh the same.

[Dumbastheycome]

The issue really is that the world is probably already in denied economic depression.

If so the outcome potentially will rapidly precipitate actions by nations with long premeditated objective.

Watch your back...Fair weather friends often display true color!

[Thunder26]

And it shows how insanely rich we have been making oilcompanies & oil producing countries over the last decades.

And it shows how insanely rich we have been making water companies over the last decade!

It is a shame that water costs almost as oil. I mean really putrid is here!