http://www.ibtimes.com/articles/302292/20120221/gas-prices-worldwide-united-states.htm
The price of gasoline has increased by 29 cents since December raising the national average to $3.57 even though oil prices have remain relatively constant globally. But speculation over the uncertainty in Iran has lowered consumer confidence in Europe and the US. Some economists predict the price per gallon of gas will reach $5 soon, but should we be complaining? In Singapore, a gallon of gas cost $6 and in Turkey $9. When comparing Europe to the United States, the main difference between is the value added tax where in the US it is 10% and in Europe, its 50%.
2 comments:
One thing to consider about this difference in price is the wider availability of alternative transportation in Europe. Mass transit systems like trains are widely available, both within cities and between them. In many European cities, bicycles are the most widely used form of transportation. Meanwhile in the US, we are much more reliant on cars as a primary means of transportation. This means that the price of gasoline has a greater impact on consumers here than it does in Europe.
I agree. The role of gas price is a huge impact on how people choose to get around. I wonder how high the prices will have to be in order for their to be public incentives for mass transit.
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