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The Most Expensive Gas In The World

Tyler Durden's picture




 

At an incredible $9.98 per gallon, Turkey has the most expensive gasoline in the world - almost triple that of the US - closely followed by Norway at $9.97. In fact, as Bloomberg notes, the US can celebrate its good fortune at being only the 51st most expensive country in the world for gasoline.

(click image for large legible version)


So why is it then that so much is made of a rising gas price in the US? Why do we fear $3.80 when Turkey shows us things could be a lot worse? The simple answer lies in the chart below. The US spends the 7th most in the world on gasoline as a percentage of income and is by far the largest among developed economies as a percentage of income.

(click image for large legible version)

 

At 3.06% of income, and being that the US is a consumption-based, low-quality-job, unaffordable-housing-means-driving-to-work nation, the possibility of $4 gas in the not-too-distant future (as Egyptian instability leaks into WTI prices) has a far greater impact on the US than any other of the world's large economies. But then again, we are sure it is all transitory.

 

Source: Bloomberg

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Sun, 07/07/2013 - 14:41 | 3728464 knukles
knukles's picture

It don't matter the price.  My supercharged 388hp SUV runs great on imported Iraqi oil.

 

and we better get our hands on more of the stuff before them crazy fuckers who are jealous of or freedom.. where are the carriers... go for the next nobelPP... halliburton and Xi can get the job done lickety slpit... shock and awe... nuke the fuckers... godless bastards...

Sun, 07/07/2013 - 14:43 | 3728473 James_Cole
James_Cole's picture

The problem is the US was stupidly - and continues to be - designed around the automobile (itself a terrible invention).

Sun, 07/07/2013 - 14:43 | 3728480 knukles
knukles's picture

Thou shalt not take Henry Ford's name in vain.

Sun, 07/07/2013 - 14:50 | 3728501 Xibalba
Xibalba's picture

follow the money....

Sun, 07/07/2013 - 14:56 | 3728504 ZerOhead
ZerOhead's picture

And the cheapest place in the world to buy gas is.... wait for it... VENEZUELA

At 6 cents a gallon... yup gallon... there is little doubt that Mr. Snowden has found the only place on the planet where he can afford to drive his own armoured personnel carrier...

He'll need it...

 

http://www.bloomberg.com/slideshow/2013-02-13/highest-cheapest-gas-price...

Sun, 07/07/2013 - 15:31 | 3728619 Popo
Popo's picture

Fine. But a new house should cost on average 2x annual gross income. And health care should be 1/16th of the cost. Etc.

To live in America is to be a sucker. At every possible level (electricity, telephone bills, health care, Internet service, transportation, education, housing, food, etc.) Americans are little more than sheep to be sheared.

Living in America is a terrible deal financially. The mythology of "income levels" is seldomly adjusted for the price of the myriad corporate taxes that are levied on Americans because they can be. Net/net Americans are poor people despite their income levels.

Sun, 07/07/2013 - 17:01 | 3728862 nodhannum
nodhannum's picture

Gee, that sounds like a terrible place to live.  I don't know if I would want to stay in a place like that if I were you.

Sun, 07/07/2013 - 17:31 | 3728939 tvdog
tvdog's picture

It's tough to escape the U.S. Ask Edward Snowden.

Sun, 07/07/2013 - 18:27 | 3729065 Popo
Popo's picture

...which is why I don't.

Sun, 07/07/2013 - 18:32 | 3729074 RockyRacoon
RockyRacoon's picture

Net/net Americans are poor people despite their income levels.

I guess there are plenty of people around the world who would like to be this "poor".

Gimme a break.

Sun, 07/07/2013 - 19:25 | 3729184 Alternative
Alternative's picture

Stop thinking good about yourself just becuse there is some sucker who has it (or thinks he has it) even worse. This kind of rationalizations are the primary reason for complacency of merken public.

Sun, 07/07/2013 - 19:28 | 3729191 saucy
saucy's picture

You nailed it Popo. The only thing I'd argue is electricity (from an EU perspective), but that just falls in line with energy being considered valuable outside of OPEC and the US. And for all you suburbanites in the US that need 400hp to get your fat asses to work I'll say get a fucking clue. The cars in most of the rest of the world are small, have small engines, and get twice (or more) the mileage of the average US monster car. Do you really need 5000 lbs. of steel that can do 0-60 in 8 seconds to get to work everyday? Really? No, not really.

The biggest deal is health care. If I work I am 100% covered FOR EVERYTHING - AT NO COST, and most prescriptions are free. And no, taxes here aren't higher here than the US. If I don't work I pay a whopping $75.00 a month until I'm 62, then it's free again. I think I can afford 7.00 gas, you think? Especially since I don't NEED a fucking car. We have these things called trams that run on tracks all over the city, and regular train service everywhere else. You ain't got that in the US cuz the oil companies took them away years ago. And y'all couldn't walk your fat asses to the tram stop even if you did have them.

Sun, 07/07/2013 - 20:36 | 3729303 dark pools of soros
dark pools of soros's picture

Who cares, we like driving fast with the A/C on and the top down..  fuck it, we're americans!!!

 

atleast that is what it was to be a free and wild country..  now they just have that image in the advertisements and certain movies which also act as advertisements with a backstory.. and then they just nab you and send you tickets and increase your premiums, etc etc

sell ya the lifestyle and then fuck ya for living it

 

 

Sun, 07/07/2013 - 21:09 | 3729407 saucy
saucy's picture

Americans are wild, but not free (of course none of us are). What I see is America chained. Chained to the gas pump, and chained to the health care system. But you have Wal-Mart! Everyday low prices!

How is it that one hospital charges 100 times more for the same procedure than the other hospital down the street? It's capitalism baby, free enterprise, competition! Or maybe it's just greed? Yeah, no problem, I have time to shop around for that appendectomy, 15-20 minutes at least. And it'll cost me half price to drive there. :-)

Mon, 07/08/2013 - 02:23 | 3730046 Freddie
Freddie's picture

Oh give it a rest.  You can get a decent sized car that gets good fuel mileage if you take the time to do some research.  A 2013 Hyundai Sonata with 4 cyclinder gets 24 in the city and 35 on the highway.  The car can seat 4 people and 5 people in some cases.   Not good enough? You can get a Ford Fusion hybrid that gets 47 city and 47 hwy.  

http://www.edmunds.com/ford/fusion-hybrid/years.html?sub=sedan

If the USA could get more European style direct injection dirsels cars - the mileage would be as good or better than hybrids.

Mon, 07/08/2013 - 06:35 | 3730180 Parrotile
Parrotile's picture

Forget European - look at the new direct injection diesels sold by Hyundai / Kia: 56 MPG on the highway, and almost 50 Urban Cycle.

Certainly worth a second look, and both Hyundai and Kia have really worked hard to improve styling and interior spec (which was always good anyhow).

Add in "best in class" warranty packages and I know what I'll be buying once my old Holden dies - and it ain't another Holden . . . .

 

Mon, 07/08/2013 - 12:21 | 3730992 glenlloyd
glenlloyd's picture

The DI Hyundai / Kia diesel engines aren't sold in the US....yet.

So far there's VW, MB, BMW and finally the Chevy Cruze diesel which fails to achieve much mpg over the gas counterparts. Then again you can't get a manual gearbox or a wagon. Let's just hope that GM doesn't ruin diesel in the US (again) with a crappy product.

If you want an SUV you have to buy a Jeep of some sort

Sun, 07/07/2013 - 15:15 | 3728580 Make_Mine_A_Double
Make_Mine_A_Double's picture

Better yet they send the unprocessed oil to the USSA to be refined into gasoline than re-import at market prices - and than they resell it locally at around 6 or 7 cents a gallon....where a good chunk of that is than smuggled into Colombia and re sold at market prices.

When a country does something this stupid you know the guys in the Ministry are just rolling in it.

Mon, 07/08/2013 - 02:28 | 3730055 Freddie
Freddie's picture

These shit news stories are typical Operation Mockingbird crap.  Oh be happy little ungrateful serfs.  you pay so little for gas.  F Them.  I do not drive a gas guzzler but F the endless propaganda BS.

What I find really weird is all summer Obam has has gas prices fixed at about $3.39 locally.  The price has not moved in months.  That never happens.

Sun, 07/07/2013 - 15:39 | 3728638 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

ZerOhead

Well, yes, but gasoline in Venezuela is heavily subsidized by their .gov.  That introduces other problems: malinvestments, wasting gasoline, more greenhouse gases (lol), bigger deficits, etc.

Sun, 07/07/2013 - 15:58 | 3728680 Muppet Pimp
Muppet Pimp's picture

Before the low information types get ahead of themselves, it is also important to understand that gasoline is both rationed and often unavailable in Venezuela.  8 Gallons is typically the maximum fill up at one time, after waiting in a long line hoping that they do not run out before you get yours.  Ask any Russian who spent time living in the USSR about how great those low low prices are (or better yet how great *free* is, lol).  Overland travel will more than likely never take off under the leftist Venezuelan regime seeing as the locals are extremely hostile towards any foreigners being able to fill their tanks out of the precious little supply available.  Supply cannot be made available along borders because gasoline trafficking is a problem.  Fortunately for wealthy foreign sportfishers, a good supply of cheap fuel is available at some ports if you enjoy fishing for Marlin.  Don't forget the customary Benjamin for the commandante. 

Sun, 07/07/2013 - 16:09 | 3728708 James_Cole
James_Cole's picture

Well, yes, but gasoline in Venezuela is heavily subsidized by their .gov.  That introduces other problems: malinvestments, wasting gasoline, more greenhouse gases (lol), bigger deficits, etc.

No country comes remotely close to the US in terms of subsidization (indirect + direct) of oil/gas. 

Sun, 07/07/2013 - 18:28 | 3729067 DaveyJones
DaveyJones's picture

yes, what is the cost of our military stations all over the world, the wars, the veterans, the medical bills, the lies.....

Sun, 07/07/2013 - 20:39 | 3729313 dark pools of soros
dark pools of soros's picture

what is a future dollar worth??  another future dollar + N ?

 

Mon, 07/08/2013 - 03:12 | 3730076 Obese-Redneck
Obese-Redneck's picture

Seems like the USA has some catchin' up on freedom to do with the good peoples and beneficent rulers of:

"They hate us for our SUV's"

Venezuela

Saudi Arabia

Kuwait

Egypt

UAE 

Iran

Nigeria 

Malaysia

Mexico

Sun, 07/07/2013 - 14:53 | 3728502 ZerOhead
ZerOhead's picture

.

Sun, 07/07/2013 - 15:10 | 3728569 greatbeard
greatbeard's picture

>> the automobile (itself a terrible invention).

I don't know that the auto itself is a terrible invention but the manner in which we've chosen to develope and use is certainly is. 

Sun, 07/07/2013 - 15:33 | 3728624 James_Cole
James_Cole's picture

I don't know that the auto itself is a terrible invention but the manner in which we've chosen to develope and use is certainly is. 

I figure it's difficult to judge an invention outside of impact. Lots of brilliant inventions out there whose impact makes them less than stellar.

Sun, 07/07/2013 - 18:38 | 3729087 Dick Buttkiss
Dick Buttkiss's picture

"The problem is the US was stupidly - and continues to be - designed around the automobile (itself a terrible invention)."

 Who invented the automobile? 

Enterprising individuals:

http://en.wikipedia.org/wiki/Automobile

Who "designed around the automobile?"

Clueless interventionists: 

http://en.wikipedia.org/wiki/Interstate_Highway_System

What did their interventions replace? 

An already installed and paid-for network that has since been reduced to freight:

http://en.wikipedia.org/wiki/Rail_transportation_in_the_United_States

What have the consequences been?

What else?

http://www.google.com/search?q=urban+sprawl+images&client=safari&rls=en&...

Nothing wrong with the automobile, in other words, beyond the fact that than the "freeways" it runs on have proven ruinously expensive.

Just like "free" defense, education, sickcare, retirement . . .

 

 

Tue, 07/09/2013 - 19:25 | 3735622 nicxios
nicxios's picture

Can't believe the 29 red arrows, what you stated is true.

Sun, 07/07/2013 - 15:17 | 3728585 olto
olto's picture

And so does your mouth!

Sorry, knucks-----too obvious not to comment

Sun, 07/07/2013 - 14:41 | 3728470 Divine Wind
Divine Wind's picture

 

 

 

Turkey is about 1/8th the size of the U.S.

Smaller distances to travel

Far fewer people.

Smaller cars.

Sun, 07/07/2013 - 15:03 | 3728543 francis_sawyer
francis_sawyer's picture

Most... outside US... drive fucking scooters you dimwit...

Sun, 07/07/2013 - 16:04 | 3728693 Divine Wind
Divine Wind's picture

 

 

Go fuck youself, Fwancis.

YOu either have not been outside of the U.S. or are just looking to be rude.

What is dick.

Sun, 07/07/2013 - 14:44 | 3728485 JJ McApe
JJ McApe's picture

why is gasoline that cheap in 'murrica. make that 10 a gallon and all will be good.

Sun, 07/07/2013 - 15:23 | 3728600 TPTB_r_TBTF
TPTB_r_TBTF's picture

the US does not tax gas as high as other countries [yet]

 

those stats are including the energy taxes.

Sun, 07/07/2013 - 14:45 | 3728488 PSEUDOLOGOI
PSEUDOLOGOI's picture

Slave on!

Sun, 07/07/2013 - 14:49 | 3728495 Northern Lights
Northern Lights's picture

I love my 2010 Dodge Challenger RT with 5.7 V8!  Love it so much I'd run the fucking thing on baby-seals if I could find a way to squeeze them into the tank.

Sun, 07/07/2013 - 14:50 | 3728497 Divine Wind
Divine Wind's picture

 

 

ROFL

Sun, 07/07/2013 - 15:36 | 3728632 texas sandman
texas sandman's picture

Man with long beard brings his snowblower to the repair shop, oil everywhere.

Just before entering the shop, he sneezes, sending snot all over his beard, mixing with the frost and snow.

 

Mechanic looks at the snowblower and says "blow a seal?"

 

Guy replies "nope, just sneezed."

Sun, 07/07/2013 - 15:29 | 3728612 Winston of Oceania
Winston of Oceania's picture

Ever ride the Arctic Excursion at Sea World in FL? Bastards empty the ride into the gift shop to soak you on the way out. They made the mistake of having a large bin of fluffy white baby seals in the middle of the room. I asked in a very loud voice where the clubs were that went with the baby seals and you could have heard a pin drop. My wife didn't speak to me for days, and I got to do it right in front of my mother in law. Some days are just blessed...

Sun, 07/07/2013 - 18:37 | 3729085 RockyRacoon
RockyRacoon's picture

In the not too distant future that comment will get you arrested as an eco-terrorist.

Sun, 07/07/2013 - 20:41 | 3729322 dark pools of soros
dark pools of soros's picture

it'll also be attached to a jobs program to help free up jobs for the correct people to have them

Sun, 07/07/2013 - 15:30 | 3728615 css1971
css1971's picture

There's a lot more fat on the average American.

Sun, 07/07/2013 - 19:34 | 3729204 logicalman
logicalman's picture

% of my income spent on gasoline? ZERO.

When TSHTF and nobody can get gasoline, I'll still be good for 100 miles a day with 30lbs on my back, no problem.

I'll take a guess here and say that you will likely be fucked.

Enjoy looking at that big fancy motor when you can't get what makes it run.

 

Sun, 07/07/2013 - 14:55 | 3728512 InspectorBird
InspectorBird's picture

"percentage of income spent on gasoline" is total BS. In my country average income after taxes is around 800 euros per month. To fill up a 60 liter tank costs around 80 euros. So even if you somehow mystically manage to drive one tank for full month, its already 10%. In reality of course its more like 20-25% but DEFINATELY not around 2-3%

Sun, 07/07/2013 - 15:27 | 3728607 css1971
css1971's picture

Lots of people don't have cars at all. Or choose not to use them.

For example I have a car and motorbike yet on a daily basis I use the bus and then train to commute. Driving a car in the city is insane here.

Sun, 07/07/2013 - 18:38 | 3729086 RockyRacoon
RockyRacoon's picture

I love my 150cc scooter!

Sun, 07/07/2013 - 18:58 | 3729138 JeffB
JeffB's picture

A brother-in-law told me about one of his former workers who got a job in Germany after he got out of school. One of the perks was "transportation".

When he got there, they gave him his bicycle.

 

Sun, 07/07/2013 - 14:55 | 3728515 kennard
kennard's picture

"US ... is by far the largest among developed economies as a percentage of income."

U.S. gasoline consumption is built around the psychological myth that the open road is a key to personal freedom.

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