Editor’s note:This post was guest blogged by Dan Tanner of dan-ruth-tanner.com
The price of gasoline in Dominica has just been lowered to EC$12.01 per gallon. How does that compare to the current price of the same product in the US? After all, itâ€™s been said that Venezuela has been helping Dominica to cope with high energy prices. If true, that would be great. While much energy is being wasted in the relatively well-off US, in Dominica energy costs â€“ translated to what farmers must pay to transport their goods to market, what bus owners pay to transport people, and what everyone pays for electricity generation â€“ is a huge burden to a far less well-off Dominica.
Well, the magic number to convert EC$ per UK gallon to US$ per US gallon is 0.295. (That is, EC$ divided by 2.71 = US$ and 0.8 UK gallon equals 1 US gallon; thus 0.8/2.71=0.295.)
Therefore, the current price of one US gallon of regular unleaded gasoline in Dominica equals paying US$3.54 per US gallon at the pump in the US. But I paid US$2.55 per US gallon in Massachusetts this past weekend. That is EC$6.91 for a US gallon, which is 4/5 of a UK gallon. So, EC$6.91 times 5/4 would be EC$8.64 per UK gallon. (Update: My wife bought gas today for US$2.43 per US gallon. That comes to only EC$8.24 per UK gallon!)
If regular unleaded gasoline costs EC$8.64 per UK gallon in the US, why does it cost EC$12.01 (EC$3.37 more) in Dominica? Is this what Venezuela calls â€œlargesseâ€?
Remember these conversion numbers, theyâ€™re handy when you see or hear news about gasoline prices coming from the USA.
- Multiply the price in EC$ per UK gallon (at most pumps) by 0.295 to get the equivalent US$ per US gallon.
- Multiply the price in EC$ per liter (at some pumps) by 0.71 to get the equivalent US$ per US gallon.
I think that Dominica deserves a better deal.