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Gas Prices: How Much is Too Much?

The USA Today article says that the findings of a study about gas prices indicate that the breaking point in what people think is a reasonable price varies by region.
Americans angrily grit their teeth as they pump $3-per-gallon gas. They think $2 is about right. In Britain, $3 sounds fanciful — people there pay about $6.40 a gallon and think $5 would be fair.

AP-Ipsos polling in the United States and eight of its allies turned up wide disparities in people's thoughts on the cost of filling up.

Spaniards would like to see gasoline for just over $3 a gallon. People in France, Italy, Germany and South Korea put the fair market price $4 or a little more. Australians and Canadians would like to see it just under $3 a gallon.
The article also says that the U.S. consumes about 25% of the total global oil consumption. It seems that Americans might need to get used to higher gas prices but Americans were spoiled by years of cheap gas and many have purchased large SUVs so this is much easier said than done.

Posted on October 17, 2005





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