June 20, 2006
If you think gas is high here!
We have seen the $3 signs at our local gas stations, but what are drivers in foreign countries paying? Economist Mike Walden takes a look at gas prices in other nations.
"Well, they are seeing a lot higher in some countries," says Dr. Walden, a professor in N.C. State University's College of Agriculture and Life Sciences.
"And let me just give you a rundown here, and maybe it will make you feel better when you fill up your tank next:
* If you lived in Turkey, you’d be spending $7 a gallon for gasoline. …
* And the United Kingdom, $6 a gallon.
* Japan, $4.50.
"Now most of the reason for those higher gas prices is much higher gas taxes.
"On the other hand, there are many countries in the world where gas is a lot cheaper," Walden adds. "If you go to places like Venezuela, Saudi Arabia, Russia and China, gas there is all under $2 a gallon.
"Now for the first three -– Venezuela, Saudi Arabia and Russia –- the reason is they are major oil producers. They have a lot of oil.
"China doesn’t have a lot of oil, but they have regulated prices. They are keeping their prices low, but guess what? They have also seen shortages."
Posted by deeshore at June 20, 2006 08:00 AM