Gas Prices Around the World
August 19, 2005
August 19, 2005 -- CNN reported this week, ?Gasoline prices in the United States, which have recently hit record highs, are actually much lower than in many countries. Drivers in some European cities, like Amsterdam and Oslo, are paying nearly three times more than those in the United States.?
The main factor in price disparities between countries is government policy, according to AirInc, a company that tracks the cost of living in various places around the world. Many European nations tax gasoline heavily, with taxes making up as much as 75 percent of the cost of a gallon of gasoline, said a spokesperson for AirInc.
In a few Latin American and Middle-Eastern nations, such as Venezuela and Saudi Arabia, oil is produced by a government-owned company and local gasoline prices are kept low as a benefit to the nation?s citizens, he said.
In March 2005, some of the prices for a gallon of gas around the world looked like this: Netherlands, $6.48; Norway, $6.27; Italy, $5.96; United Kingdom, $5.79; Japan, $4.24; Cuba, $3.03; Egypt, $0.65; Nigeria, $0.38; and Venezuela, $0.12.