Where gasoline is cheap, and why it's making yours pricey
Friday May 4, 3:12 pm ET
By 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, it's fair to say that drivers in those countries are getting a good deal.
Stew on this line: "A subsidy tells consumers they don't need to adjust their behavior," said Spector.
This says a lot for those who think that capitalism is just an economic system. It is human behavior, even across multiple economic systems.