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Oil Rout a Distant Dream for European Drivers: Chart of the Day

Europe’s drivers can blame the continent’s tax authorities for the failure of this year’s collapse in oil costs to show up at the pump.

The CHART OF THE DAY compares gasoline in Europe and the U.S. since Brent crude oil began a 42 percent collapse on June 19, when it peaked for the year at $115.71 a barrel. Europe’s is down just 8 percent while in the U.S. the slide at pumps is 27 percent over the same period.