{link url="http://www.flickr.com/photos/glennbatuyong/"}Glenn Batuyong{/link}
We can’t stop hearing about rising gas prices and the natural resources that could potentially be tapped to reduce them. Much of it has shown to be speculation at best, but controversy aside, Americans should take note that gas prices really aren’t so bad.
Bloomberg (via Barry Ritholtz) has excellently compiled global data of gas prices and their relative pain at the pump. This pain at the pump metric measures the percentage of daily average income needed to buy one gallon of fuel.
The U.S. has pretty low gas prices compared to the rest of the world, but has an exceptionally low pain at the pump ranking, coming in behind only Luxembourg, Saudi Arabia, United Arab Emirates, Kuwait, and Venezuela. The Scandinavians suffer from the highest gas prices, but it is India feeling the most pain at the pump.
| Most expensive gas ranking: | Price per gallon of premium gasoline: |
| Norway | $9.69 |
| Denmark | $9.37 |
| Italy | $9.35 |
| Netherland | $9.35 |
| Greece | $9.23 |
| Sweden | $8.97 |
| Hong Kong | $8.89 |
| Portugal | $8.85 |
| United Kingdom | $8.84 |
| Belgium | $8.82 |
| France | $8.72 |
| Finland | $8.59 |
| Germany | $8.56 |
| Ireland | $8.34 |
| Switzerland | $7.95 |
| Slovakia | $7.93 |
| Hungary | $7.69 |
| Czech Republic | $7.59 |
| Japan | $7.58 |
| South Korea | $7.57 |
| Spain | $7.55 |
| Slovenia | $7.54 |
| Austria | $7.45 |
| Malta | $7.32 |
| Latvia | $7.26 |
| Luxembourg | $7.24 |
| Lithuania | $7.24 |
| Estonia | $7.05 |
| Poland | $7.01 |
| Cyprus | $7.00 |
| Bulgaria | $6.94 |
| Australia | $6.75 |
| Singapore | $6.70 |
| Romania | $6.59 |
| Chile | $6.54 |
| Brazil | $6.41 |
| India | $6.06 |
| Canada | $5.75 |
| South Africa | $5.72 |
| Seychelles | $5.53 |
| Argentina | $5.44 |
| China | $5.31 |
| Thailand | $4.96 |
| United States | $4.19 |
| Indonesia | $4.11 |
| Russia | $3.71 |
| Malaysia | $3.30 |
| Mexico | $3.20 |
| Iran | $2.78 |
| Nigeria | $2.33 |
| United Arab Emirates | $1.89 |
| Egypt | $1.73 |
| Kuwait | $0.88 |
| Saudi Arabia | $0.61 |
| Venezuela | $0.09 |
Tags: Argentina, Bloomberg, Brazil, Canada, China, Cyprus, Denmark, Finland, France, Germany, Greece, India, Iran, Ireland, Italy, Japan, Mexico, Portugal, Spain, Sweden
