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Stop The Whining! U.S. Gas Is Still Cheap

Agent009 submitted on 5/2/2008 Official Bell & Ross Timestamp: 12:11:05 PM

37 user comments | Category: Misc News | Source: | SOURCE: money.cnn.com

Despite daily headlines bemoaning record gas prices, the US is actually one of the cheaper places to fill up in the world.

Out of 155 countries surveyed, U.S. gas prices were the 45th cheapest, according to a recent study from AIRINC, a research firm that tracks cost of living data.

The difference is staggering. As of late March, U.S. gas prices averaged $3.45 a gallon. That compares to over $8 a gallon across much of Europe, $12.03 in Aruba and $18.42 in Sierra Leone.

The U.S. has always fought to keep gas prices low, and the current debate among presidential candidates on how to keep them that way has been fierce.

But those cheap gas prices - which Americans have gotten used to - mean they feel price spikes like the ones we're experiencing now more acutely than citizens from other nations which have had historically more expensive fuel.



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Stop The Whining! U.S. Gas Is Still Cheap

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Agent009

"If everything seems under control, you're just not going fast enough."

— Agent009 (View Profile)


User Comments

EL34

Yeah, stop your whinin' :(

— EL34 (View Profile)

Posted on 5/2/2008 12:24:20 PM | reply to this comment | Votes: -2   

silver1

But those infrastructure in other countries is different from the U.S. Most other nations have mass transportation where driving is not all that necessary.

— silver1 (View Profile)

Posted on 5/2/2008 1:15:38 PM | | Votes: 4   

montyz81

I agree, infrastructure plays a huge roll. Our infrastructure was built around cars where others were built around trains. Also, Oil companies are making allot more money per capita in the US then any other country. That to me says prices should not be going up this steep. Any see the double digit growth that Hess had last quarter?

— montyz81 (View Profile)

Posted on 5/2/2008 3:31:51 PM | | Votes: 1   

LexusLion

EL34: "Yeah, stop your whinin' :("

Only one I see whining is you. Enjoy your $175 fill-ups. LOL

It's all because of Bush going into Iraq. Bush actually said gas prices would go down if they invaded Iraq, but instead they doubled. Bush is the worst president ever, and that's an understatement and being pretty generous.

— LexusLion (View Profile)

Posted on 5/3/2008 8:03:55 PM | | Votes: 1   

993Turbo

No, the Democrats said we went into Iraq to keep the oil cheap. I guess that wasn't quite right was it?

— 993Turbo (View Profile)

Posted on 5/5/2008 9:37:31 AM | | Votes: 1   

w209w114

America should rightfully have cheaper fuel because of the high volume imported and its well laid out oil infrastructure. Aruba and Sierra Leone are tiny countries which import meager quantities and have poor ifrastructures.

I dont think this article is a very good one

— w209w114 (View Profile)

Posted on 5/2/2008 12:25:00 PM | reply to this comment | Votes: 6   

SS21CA

It is actually pretty depressing that everyone justifies the price by comparing it to other countries, especially Europe. Our system of government is a lot different, but that's a whole different argument i'm not going to go into.

What disturbs me is the fact that they come up with every single excuse possible to raise gas prices. Severe storms, someone shot at a pipeline, war in iraq, some oil exec has a wet fart, anything... Then Brazil announces one of the biggest oil reserves in the world, we don’t get a break on gas prices. They use any and all excuses to inflate, but when positive news comes out, they dont acknowledge by reducing prices on gas, even as the cost per barrel went down these past couple of days from its high, it seems like gas prices still climbed.

— SS21CA (View Profile)

Posted on 5/2/2008 4:08:01 PM | | Votes: 3   

DexDiamonds

So what exactly is it going to take to get prices back to how they use to be?

— DexDiamonds (View Profile)

Posted on 5/2/2008 12:35:05 PM | reply to this comment | Votes: 0   

Agent009

Brazilian oil fields coming online, might do it..

— Agent009 (View Profile)

Posted on 5/2/2008 12:38:00 PM | | Votes: 4   

bigmotov

It's not likely to ever come back down.

That's what we've been saying...gas is still "cheap" and it's going to have to get to $6-$7 (or higher) before any kind of paradigm shift occurs with the US & autos.

— bigmotov (View Profile)

Posted on 5/2/2008 12:44:04 PM | | Votes: 1   

silver1

Take over Iran....That should hold us for a while. :)

— silver1 (View Profile)

Posted on 5/2/2008 1:10:31 PM | | Votes: 4   

LexusLion

I know, I miss the Clinton days when gas was $1.25/gal and I could fill up my old Civic with $8-$10...those were the days...

— LexusLion (View Profile)

Posted on 5/3/2008 10:44:31 PM | | Votes: 1   

Shredmo

I think much of the whining is based on the instability of current prices. If we could look into the future and see a static price of $3.50 per gallon, most people would chill.

— Shredmo (View Profile)

Posted on 5/2/2008 12:53:46 PM | reply to this comment | Votes: 2   

JRobUSC

It's not the taxes. I believe the federal tax on a gallon of gas is around $0.19.

— JRobUSC (View Profile)

Posted on 5/2/2008 2:06:07 PM | reply to this comment | Votes: 2   

answer

Could we please ditch the "well in Europe" stories?

There isn't anything wrong with Americans bitching about prices THEY are paying.

We all know gas has cost more in Europe for years. That doesn't change the situation in the U.S. though.

— answer (View Profile)

Posted on 5/2/2008 1:27:38 PM | reply to this comment | Votes: 2   

bigmotov

You are right, it doesn't change the situation, but it helps you to understand it. One reason why people bitch is because they don't understand. This issue is larger than just the US.

— bigmotov (View Profile)

Posted on 5/2/2008 1:41:25 PM | | Votes: 0   

answer

My point is that the relative high cost Europeans pay for gas is of little comfort to a U.S. family struggling to get by because of fuel costs.

— answer (View Profile)

Posted on 5/2/2008 2:29:44 PM | | Votes: 3   

Rupert

And of course the fact that people in the US earn a lot less than people in Europe (In Britain nearly twice as much). So buying power may be roughly the same in the US as it is in Europe.

— Rupert (View Profile)

Posted on 5/2/2008 3:00:46 PM | | Votes: -1   

simmonsdp

Oh please stop with your we make twice as much than you Americans, I have lived in England and most over there are a bunch of poor slobs, it's still like the old days over there, Kings,Queens and peasants and unbelievable taxes....

— simmonsdp (View Profile)

Posted on 5/2/2008 4:20:58 PM | | Votes: 3   

Rupert

Do you understand...anything? British people make 'more' money, but it's not actually more money, it's roughly the same amount worked out by buying power. Petrol is a good example - it costs twice as much here, and we earn twice as much. Our money doesn't go much further just because we earn more. I'm not even saying 'We earn more, ha-ha', but you, due to your complete lack of any economic knowledge have interpreted in that way. Ever considered the fact that the exchange rate will hugely affect the ratio between American and British earnings?

Kings, Queens, peasants and slobs. What an open minded view of Britain. I'm sure America is full of fat, gun toting racists who marry their own sisters. It's a stereotype, it must be true! And when did you live here? The 1800s?

— Rupert (View Profile)

Posted on 5/2/2008 7:13:18 PM | | Votes: -2   

Rupert

And our taxes are high as we get more public services, free healthcare (so we don't have to pay health insurance), subsidised university education, better public transport, more government sponsored training, more state provided housing, free prescriptions for students and the elderly etc. The US and the UK are two different approaches to what a government should do, neither is any 'worse' than the other. I mean luckily the UK isn't Sweden or some other socialist state, where taxes are very very high, but then again, they get free childcare and suchlike.

— Rupert (View Profile)

Posted on 5/2/2008 7:21:27 PM | | Votes: 0   

Rupert

simmonsdp - did you live in Britain during the 70s, when there was an 83% tax rate? Because we dropped that in the 80s for the current 20 and 40% bandings.

— Rupert (View Profile)

Posted on 5/2/2008 7:28:33 PM | | Votes: -1   

simmonsdp

Please shutup and eat your beans on toast, I know what I am talking about,No other country in the world comes close to us in pure "buying power".....

— simmonsdp (View Profile)

Posted on 5/3/2008 3:57:01 AM | | Votes: 1   

sholemon

I could be wrong, but arent all the taxes related to owning a car in the US like registration and title and all that stuff a lot more expensive in the US? I always thought that we pay up front for that kind of stuff but save with cheaper gas.

— sholemon (View Profile)

Posted on 5/2/2008 1:31:34 PM | reply to this comment | Votes: 1   

simmonsdp

No not even close...

— simmonsdp (View Profile)

Posted on 5/2/2008 5:07:26 PM | | Votes: 1   

answer

Just think, 70 million years ago or so, if the dinosaurs would have had sex more often and had more offspring there would be a lot more oil in the world today.

Stupid dinosaurs.

— answer (View Profile)

Posted on 5/2/2008 1:50:31 PM | reply to this comment | Votes: 2   

Bmw8ter

Oil doesn't come from dinosaurs. I'm sure you'll want to argue, "but that's why they call it Fossil Fuel"...that's a big WRONG.

— Bmw8ter (View Profile)

Posted on 5/4/2008 7:00:20 PM | | Votes: 0   

answer

Oil equals old bio material from eons ago.

Plants and prudish dinosaurs included.

— answer (View Profile)

Posted on 5/5/2008 11:18:05 AM | | Votes: 0   

Spectator

Unfortunatly this could all be a moot point. If congress continues to impose greater and greater CAFE standards each year (which looks to be the trend)...then the automotive gas market will be shut down due to the very physics of an internal combustion engine.

Gasoline can only provide a certain amount of energy per cubic unit. We have pretty much maxed that limit using conventional 91-93 ocatane and current engine technology.

So even if we dig new fields for oil production regulatory standards may take that oil and force it into the home heating market and aviation market alone. While the auto industry is forced to rely on these new "green technologies".

Not saying this is bad or good just saying this is somthing I see happening.

— Spectator (View Profile)

Posted on 5/2/2008 1:51:32 PM | reply to this comment | Votes: 2   

NItePhire

New flash,..I don't care what other countries are paying for gas because well... I don't freakn live there. I truly believe in being responsible and doing what I can to be responsible however these tree hugging Prius driving bastards are getting on my nerves.

— NItePhire (View Profile)

Posted on 5/2/2008 7:38:40 PM | reply to this comment | Votes: 0   

Htay7500

I wish there was a full list...

— Htay7500 (View Profile)

Posted on 5/2/2008 8:20:25 PM | reply to this comment | Votes: 1   

ChicaneShooter

nitefire--

getting on your nerves by reminding you how much SMARTER they are?

you'll NEVER beat 'em. get smart and JOIN 'em! your bank acct will be happier with lower gas bills.

— ChicaneShooter (View Profile)

Posted on 5/3/2008 5:24:30 AM | reply to this comment | Votes: 1   

NItePhire

intelligence does not equal gas mileage or arrogance last time i checked

— NItePhire (View Profile)

Posted on 5/5/2008 2:00:54 PM | | Votes: 1   

gregsfc

We still do not pay the full market price for transportation fuels at the pump in the United States, rather, we pay part of that price through income taxes, corporate taxes, etc, and some of it is borrowed as our total federal government expenditures are not paid for annually (federal deficit spending).

It is estimated that we spend (through the defense budget) $50-billion per year to secure the flow of oil pumping and distributing around the world. That cost is not reflected in the price at the pump and neither is that cost paid for by citizens of other free nations who also reap the benefit of U.S. defense forces securing the world's oil. Rather, that cost is paid and/or borrowed by U.S. citizens through general taxation and U.S. treasury borrowing. In other words, oil-producing entities (both private and public) get free security, paid for by U.S. citizens via the defense department.

Furthermore, neither Bush or Clinton or any other president have had much control over short-term fuel prices as these fuels are globally-traded commodities. The way people post on this site, they must believe we are a government-controlled economy. Only Cuba operates that way. Even China, a communist nation, uses free market tools (i.e. price) as market controllers. Like the title says, quit whinning unless you want to become a socialist nation as does Mrs. Clinton.

The market is telling America (and the world) to use less petroleum-based products. Instead of listening to the market, many of us want to blame oil companies and/or government for our over use of a limited resource. We would be better off to listen to market signals instead of placing our heads in the sand and pointing fingers at players that have not caused this problem. If we truly understood a free market society, we would know that we need to use less gasoline, diesel fuel, jet propellant, and home heating fuel if we want the price to go down. It's a very simple solution, but everyone wants to pretend that we don't have to use less and we only need someone else to take action to fix the problem.

— gregsfc (View Profile)

Posted on 5/10/2008 7:17:09 AM | reply to this comment | Votes: 1   

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