Petrol Prices in the world from August 2017
Petrol and Gasoline
“Key Difference: Petrol and gasoline are two different terms for the same fuel that is used in an internal combustion engine. Petrol and gasoline are actually the same thing; just different words. These two words have the same meaning, with the only difference being in the places where the words are used. The term ‘petrol’ is used in UK, India and a few other places, while ‘gasoline’ or ‘gas for short’ is used in the United States. That is the only difference between the two Terms” (Differenbetween.com).
We mapped the average global gasoline prices per liter.
Gasoline—a petroleum product
„Gasoline is a fuel made from crude oil and other petroleum liquids. Gasoline is mainly used as an engine fuel in vehicles. Refineries and companies that produce the finished motor gasoline sold in retail gasoline fueling stations may add various liquids so that the gasoline burns cleaner and meets air pollution control standards and requirements.
Finished motor gasoline meets the basic requirements for fuel that is suitable for use in spark ignition engines. Some finished motor gasoline may require additional blending with ethanol (a renewable fuel and oxygenate), detergents and other additives, and higher octane gasoline before it is delivered to retail outlets for sale to end users. Most of the gasoline that oil refineries produce is actually unfinished gasoline (or gasoline blendstocks). Gasoline blendstocks require additional blending and usually require ethanol before delivery to retail outlets as finished gasoline. Refineries produce some finished gasoline, but most of the finished gasoline sold in the United States is actually produced at blending terminals where finished gasoline, gasoline blendstocks, and fuel ethanol are processed into finished gasoline ready for consumer use. Blending terminals are more numerous and widely dispersed than refineries, and they have equipment for loading trucks that transport finished gasoline to retail outlets.
Most of the motor gasoline now sold in the United States contains about 10% fuel ethanol by volume. Ethanol is added to gasoline mainly to meet the requirements of the Renewable Fuels Standard, which is intended to reduce greenhouse gas emissions and the amount of oil that the United States imports from other countries“ (Homepage of the EIA 2018).
„The first automotive combustion engines, so-called Otto engines, were developed in the last quarter of the 19th century in Germany. The fuel was a relatively volatile hydrocarbon obtained from coal gas. With a boiling point near 85 °C (octanes boil about 40 °C higher), it was well suited for early carburetors (evaporators). The development of a “spray nozzle” carburetor enabled the use of less volatile fuels. Further improvements in engine efficiency were attempted at higher compression ratios, but early attempts were blocked by knocking (premature explosion of fuel). In the 1920s, antiknock compounds were introduced by Thomas Midgley Jr. and Boyd, specifically tetraethyllead (TEL). This innovation started a cycle of improvements in fuel efficiency that coincided with the large-scale development of oil refining to provide more products in the boiling range of gasoline. In the 1950s oil refineries started to focus on high octane fuels, and then detergents were added to gasoline to clean the jets in carburetors. The 1970s witnessed greater attention to the environmental consequences of burning gasoline. These considerations led to the phasing out of TEL and its replacement by other antiknock compounds. Subsequently, low-sulfur gasoline was introduced, in part to preserve the catalysts in modern exhaust systems“ (Homepage Wikipedia).
A quick and good review of the differences between Gasoline and Diesel.
To see how unstable the global petrol market is here are the world average prices from december 2017 to february 2018.
Most of the oil to produce gasoline comes from the gulf of mexico. The probably and sadly most famous one was the Deepwater Horizon platform. The density of oil platforms in the gulf of mexico is huge.
„Deepwater Horizon was an ultra-deepwater, dynamically positioned, semi-submersible offshore drilling rig owned by Transocean. Built in 2001 in South Korea by Hyundai Heavy Industries, the rig was commissioned by R&B Falcon (a later asset of Transocean),registered in Majuro, and leased to BP from 2001 until September 2013. In September 2009, the rig drilled the deepest oil well in history at a vertical depth of 35,050 ft (10,683 m) and measured depth of 35,055 ft (10,685 m) in the Tiber Oil Field at Keathley Canyon block 102, approximately 250 miles (400 km) southeast of Houston, in 4,132 feet (1,259 m) of water.
On 20 April 2010, while drilling at the Macondo Prospect, an uncontrollable blowout caused an explosion on the rig that killed 11 crewmen and ignited a fireball visible from 40 miles (64 km) away. The fire was inextinguishable and, two days later, on 22 April, the Horizon sank, leaving the well gushing at the seabed and causing the largest oil spill in U.S. waters“ (Homepage Wikipedia).
…but sometimes…our econocimal thoughts could end up in an massive disaster…
“The 2010 Deepwater Horizon oil spill has been called one of the worst environmental disasters in American history — and more than six years later, scientists are still investigating how much damage it actually caused. Now, a new study suggests the spill may have permanently marred one of the Gulf shore’s most important ecosystems. The study, published Tuesday in the journal Scientific Reports, finds the oil spill caused widespread erosion in the salt marshes along the coasts of Louisiana, Alabama and Mississippi. And the researchers say there’s a chance these marshes might never completely grow back.” (Washington Post 2010) Full post here.
And so this catastrophes cause a lot of damage to our economy, but more importantly they destroy our Environment.