Think U.S. Gas Prices Are High? Wait Until You See What They Are Overseas!

gas station norwayThink your gas bill is high? Americans are now paying an average of $3.75 per gallon and feeling plenty of “pain at the pump,” since average fuel consumption in the U.S. is higher than anywhere else.

But prices here are actually a bargain compared to other countries.

“Imagine shelling out $9.89 a gallon — the  price at the pump in Turkey,” says the newly updated 2013 Bloomberg Global Gas Price Rankings.

How can overseas prices be so high? That’s easy. In many countries, half of the per gallon cost goes to taxes. Here’s a breakdown of the top ten gas prices across the globe.  Be glad you’re not commuting in these countries!

1).  Turkey – $9.89 per gallon of gasoline

Why so high? Half of that goes to taxes.

2).  Norway – $9.63 per gallon of gasoline

Norway’s an oil producer but uses revenues to support social projects.

3).  Netherlands – $9.09 per gallon of gasoline

Luckily for them, many Dutch don’t use their cars.  They have the most bicycles per capita in the world.

4).  Italy – $8.87 per gallon of gasoline

As elsewhere, much of the cost goes to fill government tax coffers.  Says Bloomberg, “Italians now spend the same amount each week to fill their tanks as they do to feed their families.”

5).  Portugal – $8.82 per gallon of gasoline

Taxes account for 64 percent of the price of gas in Portugal, according to Bloomberg.

6).  Greece – $8.62 per gallon of gasoline

Those high prices are taking a toll.  “Wages in Greece declined this year amid the ongoing financial crisis, compounding the pain of rising gas prices,” reports Bloomberg.

7).  Sweden – $8.50 per gallon of gasoline

Sweden levies tax on energy products to support environmental programs and greenhouse gas projects.

8).  Belgium – $8.41 per gallon of gasoline

The good news for Belgium?  They don’t consume much gas compared to other countries.

9).  France – $8.38 per gallon of gasoline

With a rate of gasoline consumption that’s below average, the French spend a relatively small proportion of their paychecks fueling up.

10).  Denmark – $8.22 per gallon of gasoline

Danes have a high standard of living, so are less pinched by these high prices.

 

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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