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Page added on July 7, 2013
The Most Expensive Gas In The World
At an incredible $9.98 per gallon, Turkey has the most expensive gasoline in the world – almost triple that of the US – closely followed by Norway at $9.97. In fact, as Bloomberg notes, the US can celebrate its good fortune at being only the 51st most expensive country in the world for gasoline.
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So why is it then that so much is made of a rising gas price in the US? Why do we fear $3.80 when Turkey shows us things could be a lot worse? The simple answer lies in the chart below. The US spends the 7th most in the world on gasoline as a percentage of income and is by far the largest among developed economies as a percentage of income.
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At 3.06% of income, and being that the US is a consumption-based, low-quality-job, unaffordable-housing-means-driving-to-work nation, the possibility of $4 gas in the not-too-distant future (as Egyptian instability leaks into WTI prices) has a far greater impact on the US than any other of the world’s large economies. But then again, we are sure it is all transitory.
10 Comments on "The Most Expensive Gas In The World"
DC on Sun, 7th Jul 2013 11:32 pm
Q/has a far greater impact on the US than any other of the world’s large economies
I would have more respect for ZH, if would acknowledge that that fact is by DESIGN. It is not, as the article implies, some sort of ‘accident’ or ‘byproduct’ of some unrelated phenomena. Being compelled to drive everywhere in the US and its satrap allies is central to US corporate elites stranglehold on power. Maintaining all those millions of mobile trash-bins and fueling them, keeps society working like dogs for there cars and not for themselves or the local community, but rather, to enrich powerful US globalist oil-auto cartels. This is why its so easy for the 1% to dominate everyone else. They dont care what it costs ‘the people’-as long as the car-dependency cash cow keeps roll’n along.
Amerikans are still be biggest whiners in the world when it comes to ‘gas’, bar none.
Plantagenet on Sun, 7th Jul 2013 11:34 pm
As I’ve been saying, the price of gasoline in the USA is CHEAP! The whiners and weenies who have been posting here complaining about the high price of gas just don’t know what they are talking about!
BillT on Mon, 8th Jul 2013 12:50 am
I third the motion, DC and Plantagenet.
Keep in mind that ZH is a financial/investment site, not a blog that has no advertisers to pacify. I like them for their wide spread of understandable articles and timeliness, but I also read many other sites to get a balanced viewpoint. I actually read most of the comments everywhere, to get a ‘man-in-the-street’ feel, and to give my opinions and thoughts, for what they are worth. Keeps me thinking and not parroting. I’m glad I am out of the US propaganda mill MSM!
MrEnergyCzar on Mon, 8th Jul 2013 2:01 am
The average MPG in the states is in the 20’s while in Europe its 40…
Others on Mon, 8th Jul 2013 3:14 am
Probably other countries were using that extra tax on gas to maintain roads.
Here the 18 cents / gallon federal tax was introduced in 1993 and the cost of maintaining road have increased 50%, but still the gas tax has not increased.
And 2% of our income tax goes to maintain roads. Ideally they should cut this 2% and instead increase gas / diesel tax to maintain roads.
Beery on Mon, 8th Jul 2013 5:52 am
“Why do we fear $3.80 when Turkey shows us things could be a lot worse?”
Shouldn’t that read “Why do we fear $3.80 when Turkey shows us things could be a lot BETTER?”
Low gas prices are not a good thing. They encourage waste and pollution.
Beery on Mon, 8th Jul 2013 5:55 am
Others writes: “Here the 18 cents / gallon federal tax was introduced in 1993 and the cost of maintaining road have increased 50%, but still the gas tax has not increased.”
And yet motorists whine about how we should be making cyclists pay for the roads, when cyclists and pedestrians are effectively subsidizing the motorists.
simon on Mon, 8th Jul 2013 12:48 pm
I have to say, expensive and cheap are all relative and subjective terms, so, to give anyone grief about what they percieve as expensive is not really going to acheive anything.
Kenz300 on Mon, 8th Jul 2013 2:32 pm
Don’t like the price of gas…… make a change….
Buy a bicycle or take mass transit…….
Cities need to become more people friendly and less automobile centric.
Relying on the oil monopoly for transportation fuels is a disaster for the consumer. The more we diversify away from oil the better.
The Truth Behind High Gas Prices, in 60 Seconds – YouTube
http://www.youtube.com/watch?v=1KTgodTZ5ow
Henry Larry on Tue, 7th May 2024 1:09 am
The data underscores the importance of understanding the broader context when it comes to discussing rising gas prices. It is not just about the numbers but also about how they impact peoples daily lives.
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