Where Gas Prices Are Highest

Tyler Durden's picture

Think the US has it bad with its "soaring" gas price, which is now back to $3.75 per gallon? Think again. Here, courtesy of Bloomberg, is a list of the countries whose gasoline cost puts what Americans pay at the pump to shame. In order of descending gas prices, below are the 20 places in the world where one does not want to "fill 'er up."

1. Norway

Price per gallon of premium gasoline: $10.12
Price change since last quarter: +4.4%
Most-expensive-gas rank: #1
Pain-at-the-pump rank: #52

Norway is the only major oil producer with expensive gas. In the last quarter, the world's most valued gas got even pricier.

A strike over pensions by Norwegian energy workers reduced oil output by 15 percent and threatened to shut down production altogether before the government intervened. The strike, which lasted from June 24 to July 9, cost the government and companies $508 million, according to the Norwegian Oil Industry Association.

Norwegians pay the most of any nationality to fill up their tanks. That's because instead of subsidizing fuel at the pump, the country uses its oil profits for services such as free college education and savings for infrastructure improvements.

Resource-rich Norwegians absorb the high prices with relative ease. The average daily income is $272. The share of a day's wages needed to buy a gallon of gas is 3.7 percent.

 

2. Turkey

Price per gallon of premium gasoline: $9.41
Price change since last quarter: N/A*
Most-expensive-gas rank: #2
Pain-at-the-pump rank: #7

Turkey is a fast-growing economy and the largest in Eastern Europe, but the high price of gas takes a bite out of family budgets. The average daily income for Turks is $30, and it takes 32 percent of an average day's wages to buy a gallon of gas.

The country has one of the world's highest gas taxes, which accounts for more than half of the cost to fuel up. Tax collection has long been a struggle for the government. They make up for it now through consumption taxes, like the fuel tax, which are relatively easy to enforce.

About 40 percent of the country's workers are part of an informal economy that pays no taxes. Only about 4 percent of the total population pays personal income tax.

 

3. Israel

Price per gallon of premium gasoline: $9.28
Price change since last quarter: N/A*
Most-expensive-gas rank: #3
Pain-at-the-pump rank: #31

Surrounded by oil producers in the Middle East, Israel itself drills very little. Gasoline prices are controlled by the government, and taxes typically make up about half the cost of a gallon.

Gas prices have led to widespread discontent and political demonstrations over the cost of living. Prime Minister Netanyahu has intervened to prevent prices from rising with the global price of oil, most recently when he lowered price 2.9 percent on June 1, according to the Ministry of Energy and Water Resources.

While the country taxes gas, it simultaneously subsidizes oil. Israel paid about $565 million in subsidies in 2010, a relatively small contribution to the world's $409 billion in global fossil-fuel subsidies.

The average daily income in Israel is $87, and it takes 11 percent of an average day's wages to buy a gallon of gas.

 

4. Hong Kong

Price per gallon of premium gasoline: $8.61
Price change since last quarter: -3.1
Most-expensive-gas rank: #4
Pain-at-the-pump rank: #35

Hong Kong is a part of China but has its own constitution, its own political structure and its own price of gas. Hong Kong residents pay 76 percent more for a gallon of gas than their neighbors in China, where the government caps the price at the pump.

Still, with their higher urban incomes, drivers in Hong Kong feel less pain at the pump than Chinese drivers do. The average daily income in Hong Kong is $99, and the share of a day's wages needed to buy a gallon of gas is 8.7 percent.

 

5. Netherlands

Price per gallon of premium gasoline: $8.26
Price change since last quarter: -12%
Most-expensive-gas rank: #5
Pain-at-the-pump rank: #41

Netherlands has the most bicycles per capita in the world. Rows upon rows of them stand parked at train stations, museums and national parks. A vast infrastructure of bike paths and lanes, tunnels and traffic signals makes cycling easy to adopt.

The average daily income in the Netherlands is $131. The share of a day's wages needed to buy a gallon of gas is 6.3 percent.

 

6. Denmark

Price per gallon of premium gasoline: $8.20
Price change since last quarter: -13%
Most-expensive-gas rank: #6
Pain-at-the-pump rank: #47

Denmark's high gas prices haven't drastically reduced the country's consumption. Danes still rank among the top quarter of the world's gas gluttons.

They can afford the higher price, with a comfortable pain-at-the-pump ranking of 47 out of 60. The average daily income is $157. The share of a day's wages needed to buy a gallon of gas is 5.2 percent.

 

7. Italy

Price per gallon of premium gasoline: $8.15
Price change since last quarter: -13%
Most-expensive-gas rank: #7
Pain-at-the-pump rank: #34

Gas prices have been a shock to the home country of Ferrari and Lamborghini, where the rate of car ownership is among the world's highest. Demand for cars has fallen to its lowest level since 1979, according to Fiat SpA. The Turin-based company said on Aug. 2 that it's temporarily halting new investments in Italy.

Italy raised gas taxes about 25 percent over the past year as part of Prime Minister Mario Monti's austerity efforts to rein in the country's budget. The tax is now the highest in Europe.

Italy's gasoline consumption dropped 6.9 percent in June, compared with a year earlier, according to data from the Ministry of Economic Development. The average daily income is $93. The share of a day's wages needed to buy a gallon of gas is 8.8 percent.

 

8. Sweden

Price per gallon of premium gasoline: $8.14
Price change since last quarter: -9.3%
Most-expensive-gas rank: #8
Pain-at-the-pump rank: #48

Sweden paid about $2.71 billion to subsidize oil in 2010. Amid declines in daily wages, the amount of time Swedes had to work in order to afford a gallon of gas climbed by 4.3 percent in the last quarter.

The average daily income in Sweden is $158. The share of a day's wages needed to buy a gallon of gas is 5.1 percent.

 

9. Greece

Price per gallon of premium gasoline: $7.92
Price change since last quarter: -14%
Most-expensive-gas rank: #9
Pain-at-the-pump rank: #26

Wages in Greece declined amid the ongoing financial crisis. Falling gas prices helped ease the country's pain at the pump. Greece had the sixth-biggest price drop in the ranking.

The average Greek earns $66 a day. The share of a day's wages needed to buy a gallon of gas is 12 percent, unchanged from last quarter.

The photo shows Saint George Bay, also known also as Shipwreck Beach. This ship was stranded in 1980 and is being slowly consumed by sand.

 

10. United Kingdom

Price per gallon of premium gasoline: $7.87
Price change since last quarter: -11%
Most-expensive-gas rank: #10
Pain-at-the-pump rank: #37

High summer gas prices in the U.K. have pinched consumer spending and reduced fuel consumption. Gasoline sales fell 2.2 percent in June from a month earlier, according to the Office for National Statistics.

The average daily income in the U.K. is $106. The share of a day's wages needed to buy a gallon of gas is 7.4 percent.

 

11. France

Price per gallon of premium gasoline: $7.79
Price change since last quarter: -11%
Most-expensive-gas rank: #11
Pain-at-the-pump rank: #39

The average retail price for gas among EU nations receded from record highs set earlier this summer, according to European Commission data. Price declines in France, Spain and Italy exceeded the 7.8 percent average decline of the Bloomberg Gas Price Ranking.

France has the 11th-most-expensive gas, despite generous government subsidies -- more than $3 billion in 2010. The average daily income in France is $117. The share of a day's wages needed to buy a gallon of gas is 6.7 percent.

 

12. Belgium

Price per gallon of premium gasoline: $7.77
Price change since last quarter: -12%
Most-expensive-gas rank: #12
Pain-at-the-pump rank: #42

The average daily income is $123. The share of a day's wages needed to buy a gallon of gas is 6.3 percent.

European car sales have shrunk for nine consecutive months, and truck demand is down for the last five, according to the European Automobile Manufacturers' Association. The group forecasts that passenger car sales in the EU will shrink 7 percent this year to 12.2 million vehicles, the weakest demand since 1995.

Pictured is the Notre Dame Church in Dinant, nestled between the Meuse River and the towering walls of the Citadel. The Citadel fortification was first constructed in 1051.

 

13. Germany

Price per gallon of premium gasoline: $7.74
Price change since last quarter: -9.5%
Most-expensive-gas rank: #13
Pain-at-the-pump rank: #40

A German driver filling the 55-liter (14.5-gallon) tank of Europe's most popular car, Volkswagen's Golf hatchback, pays $112.23, compared with $54.38 for the same fill-up in the U.S. The average cost of gasoline at the pump in Europe is more than double the price in the U.S.

The average daily income in Germany is $116. The share of a day's wages needed to buy a gallon of gas is 6.6 percent.

 

14. Portugal.

Price per gallon of premium gasoline: $7.72
Price change since last quarter: -13%
Most-expensive-gas rank: #14
Pain-at-the-pump rank: #23

Portugal's 13 percent gas-price drop was one of the world's steepest. The amount of time a Portuguese had to work in order to afford a gallon of gas declined by 4.6 percent in the last quarter.

The price of gas in Portugal varies by region, and drivers can get discounts while buying groceries at several national supermarket chains. Portugal's Directorate General of Energy and Geology maintains a website showing the cheapest places to fill up across the country.

The average daily income in Portugal is $56. The share of a day's wages needed to buy a gallon of gas is 14 percent.

 

15. Switzerland

Price per gallon of premium gasoline: $7.66
Price change since last quarter: -3.6%
Most-expensive-gas rank: #15
Pain-at-the-pump rank: #53

Switzerland ranks among the world's top 10 percent of gasoline consumers per capita. The Swiss maintain some green credentials with a carbon dioxide emissions rate that is less than half the average of other high-income OECD countries.

The average daily income is $215. The share of a day's wages needed to buy a gallon of gas is 3.6 percent.

 

16. Finland

Price per gallon of premium gasoline: $7.59
Price change since last quarter: -12%
Most-expensive-gas rank: #16
Pain-at-the-pump rank: #45

The average daily income is $130. The share of a day's wages needed to buy a gallon of gas is 5.9 percent.

 

17. Ireland

Price per gallon of premium gasoline: $7.34
Price change since last quarter: -12%
Most-expensive-gas rank: #17
Pain-at-the-pump rank: #44

The average daily income is $125. The share of a day's wages needed to buy a gallon of gas is 5.9 percent.

 

18. Japan

Price per gallon of premium gasoline: $7.15
Price change since last quarter: -5.7%
Most-expensive-gas rank: #18
Pain-at-the-pump rank: #46

Japan's long-held national gasoline tax helped the country's carmakers take an early lead in developing fuel-efficient vehicles.

The aftermath of the earthquake and tsunami last year contributed to higher gas prices. Still, the average daily income is $128, and the share of a day's wages needed to buy a gallon of gas is just 5.6 percent.

 

19. South Korea

Price per gallon of premium gasoline: $7.12
Price change since last quarter: -5.9%
Most-expensive-gas rank: #19
Pain-at-the-pump rank: #30

South Korea paid about $1.62 billion to subsidize oil in 2010. The average daily income is $65. The share of a day's wages needed to buy a gallon of gas is 11 percent.

 

20. Slovakia

Price per gallon of premium gasoline: $6.93
Price change since last quarter: -13%
Most-expensive-gas rank: #20
Pain-at-the-pump rank: #21

The price drop in Slovakia was among the world's biggest. The amount of time the average Slovak needs to work in order to afford a gallon of gas declined 6.4 percent in the last quarter.

The average daily income in Slovakia is $47. The share of a day's wages needed to buy a gallon of gas is 15 percent.

 

*  *  *

So where is America? It is ranked 50th in the world in terms of gasoline price, just behind Russia, at $3.75 and just ahead of Pakistan at $3.55.

 

50. United States

Price per gallon of premium gasoline: $3.75
Price change since last quarter: -11%
Most-expensive-gas rank: #49
Pain-at-the-pump rank: #55

Attention to gas prices has dramatically waned as a presidential campaign theme after the price of gasoline declined for 14 straight weeks after peaking in April.

Americans have little to complain about. They pay less than half the European price for gasoline and $1.15 per gallon below the world average. The U.S. price is among the world's lowest, and Americans have high average incomes. Only five nations have less pain at the pump than the U.S. does, and four of them are members of OPEC.

The U.S. paid about $4.2 billion in 2010 to subsidize oil production and consumption. Gasoline taxes account for just 11 percent of the retail price of the fuel, compared with 60 percent in Britain.

The average daily income in the U.S. is $136, and the share of a day's wages needed to buy a gallon of gas is 2.8 percent.

Source: Bloomberg

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Pladizow's picture

World Reserve Currency - Bitches!

As long as oil is priced in $, America will be OK.

Why do you think the US has 800 military bases worldwide?

AnAnonymous's picture

Works very well.

But here is the issue: despite working well, it is no longer enough to satisfy the US citizen middle class residing in the US, that keeps claiming that the elected elite is working against them.

But sometimes, things that are working very well can not make to work even better.

Tough reality a US citizen middle class is not willing to cope with...

A L I E N's picture

Those are some refreshingly gorgeous photos.. thanks

JoeSexPack's picture

Liked the shipwreck beach, & found it on Zakynthos, named Navagio (Smuggler's) Beach:

 

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

 

Not sure about St George Bay in caption.

knukles's picture

And note that most of the top 20 are EU member states

 

Go figure

 

(thought balloon: Why isn't the US picture of the South Bronx?)

Stackers's picture

Yeah yeah, they have $8-10/gal for gas, but they have "free" health care and college

Manthong's picture

The Democrat's and Obama's collectivism costs north of $9.00/gallon.

AchtungAffen's picture

Does that include free healthcare and college?

lunar's picture

...."free" health care - dream on, I pay my a$$ off in Switzerland!

fockewulf190's picture

Germany isn't free either. 15.5% for health insurance, another 2.5% for disability.

Sean7k's picture

Nothing free about a high tax society. Gas tax, VAT tax, income tax- you are paying for it and yet it still isn't enough, they are all bankrupt. Then you cram austerity down their throats, making sure the wealthy class remains protected. "Free" is such a ridiculous term.

The Reich's picture

That's wrong!

In  Germany you have to pay  15.5% of your monthly gross earnings into the statutory heath insurance.

I'd guess it's similar all over in Europe...

 

  

Zeroexperience2010's picture

Don't remember what I paid in France and Belgium, but it was far from free (except if you are at least 3 months illegally in France, you get CMU coverage, for free).

dirtbagger's picture

Does anyone know what percentage of the EU fuel prices are taxes?

Heyoka Bianco's picture

That's my question. Do these numbers include tax? In some EU countries, they actually pay less than the US for the gas itself, it's all the piled-on taxes that make it so expensive.

Agent P's picture

Agreed...though I'm pretty sure Finland's Tourism Board didn't approve their photo.

Kalevi's picture

A sauna in the snow not approved in Finland?

That represents a little piece of heaven in Finland and very much approved of! 

Agent P's picture

Is that what that is?  I thought it was the Unabomber's shack.  My apologies.

Midas's picture

I also enjoyed the photos very much, except for Ireland.  That puts my rock pile in my garden to shame and makes my back hurt.

SheepDog-One's picture

Its no longer enough, exactly.

TheFourthStooge-ing's picture

AnAnonymous, self-contradictory as ever, said:

Tough reality a US citizen middle class is not willing to cope with...

Ah, ah, but the AnAnonymousistic theory of US middle class monarchy indicates that the middle class is the king class. Your statements here are trying to square the circle and, as is your habit when spewing bullshit, failing miserably.

AnAnonymous's picture

'Americanism' is not monarchy, it is a republic.

Source: good old Ben Franklin when asked what the FF gave the US people, a monarchy or a republic.

akak's picture

Is that the same US citizen Ben Franklin who invented the famous lightning-powered, time-traveling flying rickshaw of Easter Island Chinese Citizenism fabled past?

AnAnonymous's picture

I dunno but it is the same Ben Franklin who stated that one dollar saved is one dollar earned.

More 'American' truisms from the very mouth of one of the most revered Founding Fathers...

How 'Americanism' is grand for humanity... Could do without it...

akak's picture

Um, that would actually be "A penny saved is a penny earned".

But you are forgetting one of his lesser-known aphorisms, one which is especially pertinent to your kind:

"A turd in the hand is worth two on the Chinese roadside".

PiratePawpaw's picture

LMAO.

You are thinking of a'Ben a'Frankrin: the Deranged Chinese Dietician who invented the CHOPSTICK(singular).

TheFourthStooge-ing's picture

AnAnonymous contradiction:

'Americanism' is not monarchy, it is a republic.

"In US citizenism, the middle class is the king class."

Source: AnAnonymous, time traveling Chinese citizenism firebug.

AnAnonymous's picture

When US citizens start to talk about contradictions, one has to pay attention.

How does the fact that the middle class is the king class in US citizenism go against the inability to cope with reality?

People claiming liberty as an unalienable human right and keeping slaves, that is contradictory.
People claimingproperty as an unalienable human right and going on a robbing spree, that is contradictory.

So what?

TheFourthStooge-ing's picture

AnAnonymous, feeling pious, sanctimoniously spouted:

People claiming liberty as an unalienable human right and keeping slaves, that is contradictory.

Those people long dead. AnAnonymous is experiencing temporal confusion due to his frequent flights of time traveling rickshaw fantasy.

People claimingproperty as an unalienable human right and going on a robbing spree, that is contradictory.

Which people? When? Living in the past much?

So what?

Exactly. No mention of 21st century slavery in Chinese citizenism brickyards. Your phony baloney concern is mere pecksniffery.

PiratePawpaw's picture

"US citizen middle class residing in the US"?...

As opposed to what? ...Chinese abduction and forced abortion citizenism citizen residing in the US?

You are making less sense than usual.

AnAnonymous's picture

The United States of America is not peopled with 'Americans' only.

There are some other people living there who do not belong to the worshipping cult devoted to 'Americanism'

But indeed, recalling this fact can hardly make sense to US citizens.

It can be understood after the marvellous ethnical cleansing they performed in less than 200 years...

Doña K's picture

And congress has admitted that they have violated not one but all 500 something treaties with the Indian nations.

Then the solution was let them build casinos and have taxpayers pay for the sins of Congress. Brilliand

TheFourthStooge-ing's picture

.

Then the solution was let them build casinos and have taxpayers pay for the sins of Congress.

Ah, but according to AnAnonymous, those casinos were built by US citizenism citizens, not Indian nations.

PiratePawpaw's picture

Im 1/4 Cherokee Citizenism Citizen, so I resemble that remark.

 

Besides, Obama said we didnt build those Casinos.

TheFourthStooge-ing's picture

According to AnAnonymous, even full blooded Cherokees are US citizenism citizens. Because they were born in the US of A, they are just as responsible for the slavery as were the slaveholders, they are complicit in the violation of every treaty the US government made with the original American nations, and they are thieves who stole the land of the original American nations, including that of (you knew this was coming) the Cherokee nation.

You see, even though I'm a mongrel mix, from both sides of my family, of Native American citizenism citizens and various European citizenism citizens that immigrated to the US of A after the civil war, by the reasoning of AnAnonymous, I am as guilty of slavery as any slaveholder. This is because I was born in the US of A, and that is the only factor which matters.

But hey, my eternal nature is calling, so I'm off to farm the weak and extort the poor. Or is it extort the weak and farm the poor? I suppose I should do both, since running afoul of my eternal nature might put me in a different tax bracket..

PiratePawpaw's picture

Oh. Well Im an Army brat and I was Im Frankfurt Am Main, Deautschland geborren; So I guess meine conscious ist clear then.

Whew! I was worried for a minute.

P.S  AA's "not speaking the lanquage" comment may not be very accurate either.

Sparkey's picture

"AnAnonymous" is not a Chinese speaker, a few days back, here on ZH, a person trained in speech pattern recognition,  (I don't know if they were US intelligence or not!) asserted that by a study of Ananonymous's postings they were, confidently?, able to identify him as a Professor of English literature at an East Coast Ivy league institution.

He is just showing off his superior intelligence by driving you into turmoil as he laughs, and makes notes, for the lecture series on gullibility he has planned!

PiratePawpaw's picture

The only turmoil im in is from laughing. As for "superior intelligence" lets just say my definition is a little more stringent.

And as for the "speech pattern regognition analysis", I think Im gonna hafta call BS on that one. No offense.

TheFourthStooge-ing's picture

AnAnonymous blobbed up into France.

shovelhead's picture

Occasionally he will slip up and post something semi-coherent ruining his Chinese troll theme.

The less time he spends on porn sites, the better , so ...

Silver Pullet's picture

Ah so, it is now Americanism citizen citizenism, not US citizenism citizen,...

Shit, I thought I had it for a sec.

PiratePawpaw's picture

You gotta be quick to keep up with his ever changing delusions.

Colonial Intent's picture

Maybe his mate is filling in while he's gone on holiday in hong kong?

PiratePawpaw's picture

"The United States of America is not peopled with 'Americans' only."

If you or they dont like the US, feel free to leave. Its mucho easy to cross el border. But then you'll have to learn to Habla some Espanol so you can complain about Mexican Citizenism Citizens.

Colonial Intent's picture

Every nation commits genocide at some point in its existence.

Why do you think china is 97% Han race?

 

Kayman's picture

 "the marvellous ethnical cleansing"

And how many millions of Chinese Citizenisms were cleansed by Moa See Dung ?

Take that Forest out of your own eye before you criticize others.  And ask your Chicom handlers for a much needed vacation.  Your comments are becoming thin gruel.

Doña K's picture

@ Ananonymous

That's because the US was designed for cars during cheap oil times and the politicians know that they can not tax gas anymore as they will not get reelected.