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Tuesday, May 14, 2019

Carbon taxes: EU price update

This follows on my last post on carbon taxes. In Portugal a month ago, 95 octane gasoline was selling for about €1.65 per litre, and Diesel (gasoleo) €1.45; it was a bit lower in Spain and Germany, higher in Belgium and Switzerland.

I grant you that regular gasoline in North America has a lower octane rating, but this still works out to $CDN 2.20 per litre ($US 6.20 per gallon) for gasoline. Yet these economies seem to work, and judging by traffic on highways between Brussels and Dortmund, the prices do not stop people driving at very high speeds when possible. The big difference: No Ford F150s, and very few big SUVs.

The picture shows a station in Portugal. 

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