World Gas Prices: Cheaper in America
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The US has always kept gas prices low, but that also means they experience more fluctuations. In addition, cheap gas prices fuel America’s demand for bigger gas guzzling cars than anywhere else in the world. Although that does leave the US more vulnerable to rising prices.
Government subsidies in the US mean cheaper gas prices than the rest of the world. But at $3.90 per gallon versus $9 in the UK, American’s are still complaining. In the meantime, Venezuela pays as low as 9 cents per gallon!
The US has always kept gas prices low, but that also means they experience more fluctuations. In addition, cheap gas prices fuel America’s demand for bigger gas guzzling cars than anywhere else in the world. Although that does leave the US more vulnerable to rising prices.
Government subsidies in the US mean cheaper gas prices than the rest of the world. But at $3.90 per gallon versus $9 in the UK, American’s are still complaining. In the meantime, Venezuela pays as low as 9 cents per gallon!
The last time gas was at the $4 mark in the US prior to 2011 was in May 2008. In March 2011, US gas prices dipped as low as $3.48 a gallon. Comparing gas prices in different countries is not quite like comparing apples to apples. The AIRNIC numbers don’t account for different incomes in different countries and exchange rates.
Here’s an infographic that compares global oil prices:
Source: FlowingData
