Gas prices rise in U.S. but lower in subsidized oil markets
Posted by Rob Fleming on May 8th, 2007
2007
May 8
Where gasoline is cheap, and why it’s making yours priceyBy Steve Hargreaves, CNNMoney.com staff writer
In Saudi Arabia gasoline costs about 45 cents a gallon. In Iran it’s 33. Venezuelans pay under a quarter.
These absurdly low prices are a direct result of massive government subsidies.
While these numbers are not adjusted for cost of living, [...]
