Gasoline usage and pricing in the United States

Despite high demand in the country and despite rising fuel costs, gasoline prices are low in the United States when compared with most other Western countries. As of December 21, 2008, the United States average price of self-serve regular unleaded gasoline was $1.65/gal. Finished motor gasoline amounts to 44% of the total US consumption of petroleum products. This corresponds to 18.5 Exajoules per year. According to national figures from the US Department of Energy, in March 2007 52% of the cost of gasoline went to pay for crude oil, 24% for refining, 15% to taxes, and 9% for distribution and marketing. By April 2008, these had changed to 72.7% for crude oil, 10% for refining, 11% to taxes, and 6% for distribution and marketing.

In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. According to the report, in April gas consumption had been lower than a year before for the sixth straight month, suggesting 2008 would be the first year US gasoline usage declined in 17 years. The total miles driven in the US began declining in 2006.

Gasoline usage and pricing in Europe

Countries with subsidised gasoline

A number of countries subsidise the cost of gasoline and other petroleum products. Subsidies make transport of people and goods cheaper, but discourage fuel efficiency. In some countries, the soaring cost of crude oil since 2003 has led to these subsidies being cut, moving inflation from the government debt to the general populace, sometimes resulting in political unrest.

Fuel subsidies are common in oil-rich countries. Venezuela, which has vast oil reserves, maintains a price of Bs.F 0.097 per litre (around US$0.05), and has done so since 1998. Other countries with subsidised fuel include Iran, Saudi Arabia, Egypt, Burma, Malaysia, Kuwait, China, Taiwan, South Korea, Trinidad and Tobago, Brunei and Nigeria. The Australian state of Queensland also subsidises fuel at the rate of A$0.08354 per litre.

China

In China, where the state oil companies are restricted from passing on new crude costs to their consumers, auto sales were predicted to grow by up to 15-20% in 2008. This is in part a result of economic growth rates of over 10% for five years in a row.