Why is US gasoline cheap compared to other countries?

Question

Fuel in Britain is more than double what we pay. In Norway it is 12 bucks a gallon I believe.

Answer 1

To help to pay for" free"health care.The money has to come from somewhere.

Answer 2

To my knowledge its because gas companies and those gas outlet business are setting up the price the way they want. Here in Canada, the night before they increase prices, all the big companies talk to each other and increase at the same level.

The Canadian intelligent agency (its like CIA) has filed a lawsuit against several companies who set prices. The court hearings already up and running. Many Canadians now travel to US to buy expensive books, toys, baby products, etc at half price! US is a great place. Here in Canada, oil companies and their distributers take advantage out of the customers. I assume same goes to UK and Norway.

One more thing, the gas tax in Canada is not that bad.... But it also effect the cost a bit.

Answer 3

Taxes and cost of living. Value of the dollar. Supply and demand. Normal economic factors.

Answer 4

In the UK we pay a very high rate of fuel duty (gas tax).  The price of a gallon is $11. The Conservative Party who are in opposition are proposing that, as the cost of oil goes up the tax on fuel comes down, this seems a good idea, the problem is that this would take billions out of the economy and other services would suffer, such as the national health service.

Answer 5

It's simple......taxes.

Fossil Fuels are world commodity. The price to one nation is the same as all nations. Internally countries either subsidize the price of fuel (Mexico, Venezuela, China, etc.) or tax the fuel (UK, Norway, Canada, US).

The UK and Norway tax the c**p out of fuel. The US has a tax (both federal and state) but it's not as severe.

Answer 6

The price of oil is the almost the same to each nation- the difference in cost is the amount of taxes added to the gas when bought at the pump- all nations do not have the same taxing system- some get the bulk of their income to run the country by the taxes that they put on the gasoline- In the US the bulk of the taxes in paid in the form of an income tax- overseas some nations do not have an income tax at all .That is the difference in taxes.