How Much has the Falling $ contributed to Oil Prices in the US?

How much more is America paying for crude compared to Europe thanks to the falling dollar?

Last year Crude was at 60$, 1USD=0.74Euros. Today Crude is at 132$, 1USD=0.63$. Doing some simple math, Americans are paying 120% more for oil, while the EU is paying only 88% more than last year.

What about 5 years ago? I couldn’t find Crude prices for the exact date but the average for the year was 27$. So Americans are paying 3.9 times what they used to for crude, while Europeans are paying 2.8 times what they used to.

However be mindful that inspite of the steep increases in gas prices, Americans still pay about half what Europeans pay for gas at the pump. No wonder they have small cars, more diesels etc. which is what is happening in the US now.

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