Gas Prices

Q: What do people pay for gasoline around the world?

A: U.S. residents pay much less for gasoline than some in other places. For example, residents in the UK, Germany, Hong Kong, and Norway pay over $6.00 a gallon. In the U.S., 25-40% of the cost of gas is attributed to state and federal taxes. In Europe, about 75% of the cost of gasoline is tax. Venezuela commonly has the lowest gas prices at less than $0.25 a gallon. This low price is due to government control and regulation.