![](http://2.bp.blogspot.com/-1jijHAP43H8/TWXO7XbdP0I/AAAAAAAEBz0/at8BjUJMxhU/s800/37054vau.jpg)
Without doubt, American drivers are feeling the pinch at the gas pump again as fuel prices have recently surged well past the $3 per gallon mark, recording a 20 per cent increase in the past year. According to the U.S. Energy information Administration, the nationwide average in America on February 21, 2011 was $3.19 for a gallon of regular gasoline (€compared to $2.66 the same day a year ago.
Nevertheless, that's nothing compared to Europe where motorists paid between $6.21 and $9.08 per gallon in mid-February, 2011, according to data from the European Road Information Centre. The countries with the cheapest unleaded gasoline were Latvia at $6.21 per gallon or €1.19 per liter, and Bulgaria and Estonia, both at $6.28 per gallon or €1.20 per liter.
On the other side of the spectrum, we find Norway where motorists paid a whopping $9.08 per gallon or €1.75 per liter, and the Netherlands at $8.59 per gallon or €1.65 per liter.
One of the main reasons for the huge difference in fuel prices is that European governments put a much higher tax on gas compared to the USA. Whereas taxes in many European countries account for more than 60% of the total price, in the U.S., the Federal and average State tax made up for just 13% of the price of a gallon of regular gasoline in January 2011, according to the US Energy Information Administration.
Unfortunately for motorists, the recent troubles across the Middle East can only have a negative effect on oil prices in the foreseeable future.
_____________________FUEL PRICES: USA vs EUROPE____________________
![](http://4.bp.blogspot.com/-Ypy3gk4o-Ec/TWXMaFj4HSI/AAAAAAAEBzs/i4ESVxh8670/s800/Prices-Carscoop-1.jpg)
![](http://2.bp.blogspot.com/-Y6ulpa56A3c/TWXMaPAOcTI/AAAAAAAEBzk/jfjQlvJ2x1M/s800/Prices-Carscoop-2.jpg)
____________________________________________________________________
Notes:
*Figures are converted to US dollars based on the currency exchange rates on February 23, 2011
*European fuel prices were sourced from the European Road Information Centre (ERIC) and are for February 18, 2011.
*USA prices were sourced from the U.S. Energy Information Administration (EIA), and are for February 14, 2011.
0 comments:
Post a Comment