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Gas Prices Around the World

Wait, So Gas Prices in the US Aren't Actually That Bad?

A survey of gas prices collected the numbers from gas pumps in 155 countries and placed the US as number 111, meaning prices are 45th cheapest out of the countries surveyed. The reason prices in the US have been comparably low is that taxes on gas have been kept to a relative minimum when measured to international standards. Some experts say that Americans are extra sensitive to hikes in gas prices because we've been spoiled by cheap gas in the past, and feel any increases more acutely than countries who are used to being taxed more. The cheapest gas is found in fuel-producing countries.

The research firm that ran the survey didn't account for different exchange rates or other factors like varied salaries among different countries, and because oil is priced in dollars those with stronger currencies aren't feeling as much pain at the pump. To see what drivers in the most expensive places to buy gas are paying to fill up just

According to CNN Money, these are the most expensive places to buy gas.

    Rank Country Price/gal
    1 Sierra Leone $18.42
    2 Aruba $12.03
    3 Bosnia-Herzegovina $10.86
    4 Eritrea $9.58
    5 Norway $8.73
    6 United Kingdom $8.38
    7 Netherlands $8.37
    8 Monaco $8.31
    9 Iceland $8.28
    10 Belgium $8.22
Join The Conversation
yoruhana yoruhana 9 years
I would have to agree with a lot of people on this one. If my area had a more reliable public transportation system, I would use it. But I depend on my car so much. Also, if I could afford a new hybrid car I would trade in my paid off vehicle in a second.
JennaV JennaV 9 years
Yeah, I have to agree with the majority of people....this doesn't make me feel any better. Sorry, I still have a problem paying $3.60+ per gallon of gas.
BlooBayoo BlooBayoo 9 years
missbanana, to answer your question: gas prices have increased because of a number of factors. 1. The weakening of the dollar. The petroleum market is (and has always been) priced in the dollar. So countries who have a weak currency tied to dollars (Mexico and most Central American countries) suffer when the dollar suffers. 2. Traditionally though-of "3rd world" countries such as India and China are experiencing an expansion of their industrial process and consuming oil at ever staggering quantities compared to their use in the past. 3. Poor global relations have prevented 'western' countries from developing true strong ties to oil-producing countries such as Saudi Arabia, Oman, UAE, Iran, and Venezuela. 4. OPEC has refused to increase barrel production to compensate for the weakening dollar resulting in the same quantity of oil being marketed in an environment where the dollar buys less. 5. Finally, oil companies are not reducing their profit margin. In the past, in some industries, when the dollar weakened, the industry as a whole (either by choice or by government intervention) decreased the profit margin (stockholders make less money) in order to keep the prices stable for the consumer. This is a hedge against inflation getting too high and a recession stagnating and/or deepening. This happens less and less as we become more “advanced.” ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I work in international finance and I have 40 counterparts in various countries around the world that I work with on a regular basis. When our gas prices started going up 3 years ago we all started talking about it. Our gas has always been much, much cheaper than theirs. Ours went up from 1.5 to 3.5, in Belgium, theirs went up from 4.5 to almost 8.5. Because the per gallon/litre price is less than the taxes levied on it, when the price per gallon goes up their tax rate increases disproportionately. Also, being in Europe wouldn't guarantee a better salary (although you'd certainly have more vacation) OR better benefits even with a higher tax rate. The UK's public health care system is a shambles, France's unemployment rate has hovered between 10-20% in the past 5 years (double ours even during the 2001 recession), and Italy has a refuse removal problem so severe that trash has literally been sitting on the streets of some cities for 2 years. And housing there … don’t even get them started on it. They pay the equivalent of $200K for a one bedroom, one bath 700 sqft flat in Paris and “not even in the good part.” As you can tell, the Paris guy is a big whiner. I mean, it’s PARIS for pity’s sake.;) We all just need to move to Denmark, Norway or Sweden, provided we could deal with the 4 hours of sunlight they get during winter. But be warned their ‘politicians’ are just as weird as ours. Apparently, Norway has a princess who opened a school so people could learn to talk to angels.
aimeeb aimeeb 9 years
smash I couldn't of said it any better.
smashingv smashingv 9 years
I totally agree with this argument being old. Sure, our prices might be cheaper, but that's in comparison to places that don't depend on cars as much as we do. My car has become my life, as everything is too far in terms of public transportation. And of course there is the whole thing about currency. A lot of what America has is cheaper in comparison to Europe. Telling us our gas is cheaper doesn't make us feel better because we know our dollar isn't worth much and we still hurt when it comes to the pump.
northernstar northernstar 9 years
you guys are right, there is no point in saying our gas prices here in the states are much cheaper than in Europe, like that's supposed to make us feel better..we are not stupid and we know that's not really true..where I live in the Northeast there is no public transportation, I have to drive my car everywhere. Europeans have better public transportation and many of them drive much smaller cars and bicycles but here our roads are not even safe enough for bicycles.
shanimalcracker shanimalcracker 9 years
I think this is old news to a lot of us; we're just unhappy about the huge jumps recently and about how much the cost of gas is relative to our incomes. Also, like others have noted, it is very true that many other countries have better public transportation. Also, with Smart Cars and other teensy cars being a common type of car, it definitely is easier to pay less on gas. The sad thing to us now is that if we go visit these other countries that are doing so much better in terms of transportation, they are likely in western Europe and the price of using the metro isn't so cheap since the dollar is so weak! One Parisian metro ticket runs almost $2 now.
bethany21 bethany21 9 years
I'm afraid I'm with baltimoregal on this one...these numbers essentially mean nothing. If I lived in Paris, I would probably have a nicer salary, paid in Euros, and I'd walk or take the Metro everywhere, and take the train for longer trips. For whatever stupid reason, reliable public transport and sidewalks are hard to find here in the U.S., so we're all stuck driving (usually making 30+ minute commutes from the suburbs).
baltimoregal baltimoregal 9 years
I'm so tired of this argument. In the other countries, they have better public transportation, paid for by the taxes on the gas. Not to mention they get things like health care, etc. Also these countries are significantly smaller- so less commutes- and have much more efficient vehicles available.
mbkosel mbkosel 9 years
does that also factor in the currency exchange rate? Our dollar is worth much less... its all so confusing.
missbanana missbanana 9 years
yeah, i pay 1.26 per LITRE.. so thats 5.04 per Gal. daaaang. its i good thing i drive a honda or i wouldnt be able to afford going to work everyday! sheeeeeesh. im still confused why gas has skyrocketed though. is it really because oil is scarce nowadays?
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