What is the difference between foreign and American gasoline prices?

Question

For a project in my econ class I need to know the difference between gasoline prices in American and foreign countries and I am having trouble finding information on the web. If someone could help me that would be great!

Answer 1

Foriegn are cheeper

Answer 2

The Economist ran a schedule showing prevailing gasoline prices in many countries around the world in their May 4, 2006 issue. The U.S. has one of the lowest gasoline prices among developed countries. Other developed countries have much higher excise taxes on gasoline, so their prices are 60-100% higher than U.S. prices. The most expensive gasoline among the countries listed was in Turkey (almost $8 a gallon, if I rememebr correctly).

Answer 3

The largest difference between US and foreign gas prices is taxes. European countries have much higher taxes on gasoline.

Some policymakers have advocated raising US taxes on gasoline to reduce our dependence on foreign oil.

For an alternative approach to reducing dependence see this site: http://www.wilsoncenter.org/index.cfm?fuseaction=wq.essay&essay_id=180530

Answer 4

The 1973 oil crisis began in earnest on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship petroleum to nations that had supported Israel in its conflict with Syria and Egypt (i.e., to the United States and its allies in Western Europe).

About the same time, OPEC members agreed to use their leverage over the world price-setting mechanism for oil in order to quadruple world oil prices, after attempts at negotiation with the "Seven Sisters" earlier in the month failed miserably. Due to the dependence of the industrialized world on OPEC oil, these price increases were dramatically inflationary to the economies of the targeted countries, while at the same time suppressive of economic activity. The targeted countries responded with a wide variety of new, and mostly permanent, initiatives to contain their further dependency.[1]

This is from the WIKIPEDIA WEB SITE. Go there for yourself . Type in " NATIONS NEGOTIATE OIL-IMPORT PRICES " in the Yahoo search block. It is 4 or 5 entries down from the top.


Remember - many European countries use smaller, 4-cylinder engines in their cars....not like the big SUV's that are driven in the USA , and are causing higher gas prices for all other US drivers..

Answer 5

Foriegn gas prices are cheaper because they have an enourmous supply of it. American gasoline prices are more expensive because we have to go beat up the foriegn people to get it. LOL! It's the truth though. We do not have gasoline in large amounts here so we get it from other places. A profit has to be made for it in order to be able to pay for it. Try doing a yahoo search on the tpic but whatever you do, do not use wikapedia, it's opinion based.