Saturday, May 17, 2008

$4 a gallon not the end of rising gas prices

A gallon of gas as of this spring costs just 12 cents in Venezuela, $2.81 in China and $3.33 in Moscow, according to Associates for International Research Inc., a consulting firm based in Cambridge, Mass. That encourages citizens of those countries to drive more, shielding them from the reality of a limited global supply, and inflating prices in North America and Europe, where taxes have pushed charges as high as $8.73 in Norway and $8.38 in the United Kingdom.



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