Monday, July 02, 2007

The Price of Gas

I think $3.95 is a lot for a gallon of gas here on the Vineyard, but I know it's quite a bit more expensive in Europe. Surprisingly, most expensive place to buy gas is Turkey; it is triple the price in the States.

For more information than you want to know about the price of gas around the world, read this.

1 comment:

Anonymous said...

It has to be remembered that in the UK, gasoline is subject to two separate rates of excise duty - fuel duty and VAT (Value Added Tax). Combined, these average out at around 75% of the cost per Imperial gallon, or liter, as it is now measured. With gasoline presently costing an average of 97p/liter in the UK, removal of the duty leaves a figure of around 24.5p/liter - or, in US gallons (3.78 liters), 93p/gall. In March 2007, US state and federal taxes on gasoline averaged at 46c/US gall, or 12c/liter. In Rhode Island, the tax was 49c/gall, so if the price per gallon at the Vineyard is $3.95, or $1.04/liter, remove the duty, and you are left with 91c/liter, compared to 24.5p/liter in the UK. A simple conversion at present day exchange rates shows Brits paying 50USc/liter for gasoline, compared to 91USc/liter for Vineyard dwellers. So, in reality, who is paying the most for gas? In the UK, it's the government taking its citizens by the throat; in the US, it's the oil companies.