Europe
News and information from Europe 🇪🇺
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
Rules (2024-08-30)
- This is an English-language community. Comments should be in English. Posts can link to non-English news sources when providing a full-text translation in the post description. Automated translations are fine, as long as they don't overly distort the content.
- No links to misinformation or commercial advertising. When you post outdated/historic articles, add the year of publication to the post title. Infographics must include a source and a year of creation; if possible, also provide a link to the source.
- Be kind to each other, and argue in good faith. Don't post direct insults nor disrespectful and condescending comments. Don't troll nor incite hatred. Don't look for novel argumentation strategies at Wikipedia's List of fallacies.
- No bigotry, sexism, racism, antisemitism, islamophobia, dehumanization of minorities, or glorification of National Socialism. We follow German law; don't question the statehood of Israel.
- Be the signal, not the noise: Strive to post insightful comments. Add "/s" when you're being sarcastic (and don't use it to break rule no. 3).
- If you link to paywalled information, please provide also a link to a freely available archived version. Alternatively, try to find a different source.
- Light-hearted content, memes, and posts about your European everyday belong in other communities.
- Don't evade bans. If we notice ban evasion, that will result in a permanent ban for all the accounts we can associate with you.
- No posts linking to speculative reporting about ongoing events with unclear backgrounds. Please wait at least 12 hours. (E.g., do not post breathless reporting on an ongoing terror attack.)
- Always provide context with posts: Don't post uncontextualized images or videos, and don't start discussions without giving some context first.
(This list may get expanded as necessary.)
Posts that link to the following sources will be removed
- on any topic: Al Mayadeen, brusselssignal:eu, citjourno:com, europesays:com, Breitbart, Daily Caller, Fox, GB News, geo-trends:eu, news-pravda:com, OAN, RT, sociable:co, any AI slop sites (when in doubt please look for a credible imprint/about page), change:org (for privacy reasons), archive:is,ph,today (their JS DDoS websites)
- on Middle-East topics: Al Jazeera
- on Hungary: Euronews
Unless they're the only sources, please also avoid The Sun, Daily Mail, any "thinktank" type organization, and non-Lemmy social media (incl. Substack). Don't link to Twitter directly, instead use xcancel.com. For Reddit, use old:reddit:com
(Lists may get expanded as necessary.)
Ban lengths, etc.
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 7 or 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to the primary mod account @EuroMod@feddit.org
view the rest of the comments
The Americans are fscked. They only have their cars.
Setting aside mass transit use, the relative impact of higher oil prices in the US will, I'd imagine, probably be higher than in somewhere like Europe, because Europe already has relatively high prices because it has hefty fuel taxation in the places that I've looked at, whereas the US has relatively low fuel taxation. That'll make the relative price change of the cost of the crude oil changing be larger in the US.
https://moneyweek.com/economy/uk-economy/budget/604621/what-makes-up-the-price-of-a-litre-of-petrol
This has fuel duty in the UK (a consumption tax) being 39% of the price of fuel. Then VAT is 17%. So right there, that's over half the price at the pump, 56%.
The cost of the gasoline itself
and the crude required is only one input of that
is only 29% of the price at the pump.
https://www.eia.gov/tools/faqs/faq.php?id=10&t=10
For mid-2024, this has federal tax of 18.4 cents per gallon of gasoline, and average state taxes
sales and consumption tax in the US varies by state and municipality
of 32.61 cents per gallon of gasoline.
https://fred.stlouisfed.org/series/APU000074714
Average fuel price in February 2026 is $3.065/gallon.
So taxation makes up about 17% of the price of fuel in the US.
EDIT: That being said, the US is also, these days, a net oil exporter. So there will be winners in the US, like oil extraction companies
but it won't be vehicle operators.
EDIT2: Actually, it's probably slightly lower than 17% in the US, because it's convention in the US to exclude sales tax in listing prices, so the $3.065 won't actually be the post-tax pump price. It will include state consumption tax, though, so I don't have a way to directly compute it from just those figures.