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Thread: Prices of gas around the world

  1. #1 Prices of gas around the world 
    Forum Radioactive Isotope cosmictraveler's Avatar
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    Gasoline prices:
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    Gasoline prices, 28-Jul-2014: The average price of gasoline around the world is 1.35 US Dollar per liter. However, there is substantial difference in these prices among countries. As a general rule, richer countries have higher prices while poorer countries and the counties that produce and export oil have significantly lower prices. One notable exception is the U.S. which is an economically advanced country but has low gas prices. The differences in prices across countries are due to the various taxes and subsidies for gasoline.

    All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of gasoline is different. In some cases, like Venezuela, the government even subsidizes gasoline and therefore people there pay close to nothing to drive their cars.

    Prices are in US dollars and US gallons.


    Gasoline prices around the world, 28-Jul-2014 | GlobalPetrolPrices.com


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  3. #2  
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    IMO gas prices should reflect true cost including direct subsidies and tax breaks, monitoring regulator compliance, providing security and responding to environmental impacts (some are more tangible than others)-- by that measure, the US Government subsidizes nearly half the true cost for its citizens and thus inhibiting appropriate market-based incentives for people to reduce their consumption.


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    Forum Cosmic Wizard
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    Quote Originally Posted by Lynx_Fox View Post
    IMO gas prices should reflect true cost including direct subsidies and tax breaks, monitoring regulator compliance, providing security and responding to environmental impacts (some are more tangible than others)-- by that measure, the US Government subsidizes nearly half the true cost for its citizens and thus inhibiting appropriate market-based incentives for people to reduce their consumption.
    The bolded part is, by far, the hardest part to quantify. For example, coal power results in 7500 deaths a year in the US from particulate emissions. (And while that sounds bad, it is actually down significantly since the last study, which was above 20,000.) How do you assign a cost to that damage? Even the easier-to-quantify damage to infrastructure due to acid rain is almost never included in such costs.
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