Complaining about oil price…
Written by A Forex View From Afar on Tuesday, May 06, 2008Back to www.thelfb.com
Most US Consumers complain about the higher gas prices that they have to pay, with every fill they do. Gas prices at stations have reached $3.50 per gallon, in some areas.
Analysts have shown how the different Gas taxation formulas have formed different social patterns. In the US, consumers use the savings from the cheap gas to buy bigger houses, or to move further away from the downtown areas, whilst in Europe the tax money is used to modernize the transport industry, invest in education or reforming health-care (health-care that is now considered by many to be Achilles’ Heel for the US economy).
In Europe the cost per gallon is reaching $10. Furthermore, going to Economics 101, the Gas prices are only as high as they are because someone is willing to pay the price, and cutting taxes (as some political parties suggest) will only fix things in the short them.
Source:
Yahoo: Why Gas in the U.S. Is So Cheap
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