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The Priciest Gas in the World

If you've been feeling pain at the pump, consider that drivers in 50 other countries pay more than we do for gas.

By Claire_Martin Sep 6, 2012 10:00AM
Brazilian oil platform photo by Ralf Roletschek.True, Hurricane Isaac has helped guide U.S. gas prices on their current upward trajectory. On average, we are paying 6 cents per gallon more now than we did a week ago, when Isaac ravaged the Gulf Coast and put a halt to 93 percent of oil production in that region. But our current national average, $3.84 per gallon, is a fraction of what drivers in other parts of the world are paying. 

Bloomberg reports that some gas pumps in Italy are charging $9.50 a gallon. Not far behind are Turkey, at $9.41; Israel, $9.28; and Hong Kong, $8.61. One country even trumps Italy's pump prices: In Norway, drivers pay a whopping $10.12 per gallon. 

What gives in these astronomically pricey parts of the world? Why does filling up the family wagon cost more than filling up a grocery basket? For Italy, the answer is the European debt crisis. Italian Prime Minister Mario Monti has bumped up gas prices in an attempt to manage the fourth-largest public debt in the world.

In Israel and Turkey, gas is heavily taxed, with those governments collecting roughly half of the price of each gallon. In China proper, the government puts a cap on fuel prices, but not so in Hong Kong, where filling up is 76 percent more expensive than on the mainland. 

Norway's situation is different. It's the only major oil producer that hits drivers hard at the pump, according to Bloomberg's tally of the highest and lowest gas prices by country. A summertime strike contributed to a spike in the cost of fuel recently, but even during stable times drivers must pay up. This is because the Norwegian government doesn't subsidize fuel for its citizens; instead it provides things such as a free college education and other social services. 

The world's least expensive gas flows from pumps in Venezuela, where a gallon costs less than, well, anything I can think of. It's just 9 cents. 

The United States, meanwhile, ranks No. 50 worldwide in gas pricing. We pay less than half of what Europeans shell out and more than a dollar less than the world average. "The U.S. price is among the world's lowest, and Americans have high average incomes," Bloomberg points out. "Americans have little to complain about." 

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8Comments
smudgepot
Sep 7, 2012 12:06PM
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several things not mentioned.

 

1) what is the tax load on a gallon/litre in the other pricey locales? our taxes are low on fuel in USA. the state i live in, taxes are about 55cts/gal. @3.79=14.5%

 

without revealing tax load, writer does a disservice to the reader by not including in-depth info.

 

2) IMO, our fuel taxes should go up to fix our roads and bridges, but there isn't a politician out there who could keep their hands off that pile of money. and there isn't a one who would vote to raise taxes, unless they were retiring.

 

so we bitch about roads, but we don't want to pay for them.

 

3) the true cost of fuel in America. Subsidies to oil companies+oil companies paying ZERO fed taxes+huge military to ensure oil continues to flow=much more than the price at the pump.

 

studies have shown when all factors are included, the true cost is double pump price, +/-.

 

we are actually keeping other countries prices LOWER by having our navy in the middle east. pay up suckah!

 

just my thots.

Annatar
Sep 6, 2012 10:15AM
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"A summertime strike contributed to a spike in the cost of fuel recently, but even during stable times drivers must pay up. This is because the Norwegian government doesn't subsidize fuel for its citizens; instead it provides things such as a free college education and other social services."

...Which is why Norway has one of the highest standards of living on the planet, and consequently refuses to join the European Union at every referendum. Smart people, Norwegians.

I was in Europe just a few weeks ago: keeping one of the fuel receipts, I converted the price of fuel I was paying while over there: $9.71 USD per gallon of Eurodiesel.
Evotru
Sep 7, 2012 4:14AM
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This is the dumbest comparison in the world to make. The countries you list as having "higher gas prices" should! Where are their oil fields? The U.S produces some of its oil and even has it piped in. Does Italy or any of the other countries listed? American has lots to complain about, we sit on mass amounts of oil and fail to use it because our government would rather sell our country out to China or other foreign countries and keep citizens poor.

 

The campaign during the elections mention how 4 years ago the gas price was $1.48 (or something like that). Really? what the hell? was that at the special White House pump? For this area we have been at a staggering $3.60 or higher 4 years ago and currently over $4.00.

 

The next point is what is our food trading for? Why would we sell low to purchase high? They should match the food price to countries we buy oil from. For I know food has a higher value then oil any day.

 

Bloomberg can go get bent. Maybe if he made what most American's do he would wake up from the crap that spews out of his mouth and realize that his statement is wrong. He should shut the freak up before some American puts him in his place, like me.

 

You are so smart Bloomberg, you totally got this one right again didn't you? You should know that gas prices affect more than just the price at the pump. Ask me what my grocery bill has been? Or what about clothing or every other commodity that runs off the price of oil. You are an out of touch Asshat!

 

mrchriss
Sep 7, 2012 5:06AM
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When the price of gas started to rise around Y2K everyone accused Bush of taking care of his "oil buddies."   Now we have the highest average gas prices since the last Bush administration.  What's B.O.'s (and his supporters') excuse?

fed up and disgusted
Sep 7, 2012 8:08AM
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We must get rid of Obama, he is an idiot!  Drill for oil in our own country and only use it here, not ship it to anyone else!  And make speculating unlawful! These idiots are just as much to blame as our govornment!  Where are the people with common sense??????
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