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Highest & Cheapest Gas Prices by Country

By Tom Randall - 2012-08-13T22:00:03Z

Photograph by Henryk Kaiser/eStock Photo

Company Symbol % Change
51 of 63

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
<p>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.</p><p>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.</p><p>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.</p><p> 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.</p><p>Read more energy & sustainability news.</p>

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