Gas Prices Have Soared In The US, But They Are Higher In These 10 Countries

Americans are being gouged with gas prices that have soared over $5 a gallon and near $8 a gallon in some states, but comparatively, many other countries pay a much higher price at the pump.

On Friday, the national average gas price in the U.S. was $4.926 per gallon, according to the American Automobile Association (AAA).

This was down 2 cents from a day earlier and down 8 cents from a week ago when the national average hit $5 a gallon nationwide.

But countries around the world are paying increasingly more for gas than Americans, who have middle-of-the-road prices compared to most nations.

According to GlobalPetrolPrices.com, Hong Kong motorists are currently paying over $11 a gallon for gas – one of the highest prices in the world tracked by the global gas price tracking site and updated weekly.

Finland drivers also pay exorbitant costs to drive, with gas prices over the $10 per gallon mark, GlobalPetrolPrices.com said.

Many countries’ gas prices have hit the $9 a gallon threshold, including Finland’s Nordic neighbors Iceland, Norway, and Denmark, where the average gas prices are $9.988 a gallon, $9.776 a gallon, and $9.556 a gallon, respectively, as of Sunday, GlobalPetrolPrices.com indicated.

Interestingly, Sweden’s average gas price was $8.619 a gallon, slightly lower than its neighboring countries.

Also joining the $9 a gallon gas club were Greece, the Netherlands, the Central African Republic, and Monaco.

Much of Europe, including the U.K., France, Spain, and Italy, also have average gas prices over $8 a gallon, while the lowest prices tracked by GlobalPetrolPrices.com could be found in Venezuela at about 8 cents a gallon.

In total, GlobalPetrolPrices.com listed more than 90 countries with gas prices that were higher than the U.S.’, while just over 70 nations had lower average prices to date.

While gas prices do fluctuate, GasPetrolPrices.com said that, as a general rule, richer countries have higher gas prices than poorer countries. It also mentioned that countries that produce and export oil also have significantly reduced gas prices.