Main articles: Gasoline usage and pricing, Global warming, and Peak oil
UK petrol prices
The US accounts for about 44% of the world’s gasoline consumption.[25] In 2003 The US consumed 476.474 gigalitres (1.25871×1011 US gal; 1.04810×1011 imp gal),[26] which equates to 1.3 gigalitres of gasoline each day (about 360 million US gallons or 300 million imperial gallons). The US used about 510 billion litres (138 billion US gal/115 billion imp gal) of gasoline in 2006, of which 5.6% was mid-grade and 9.5% was premium grade.[27]
Western countries have among the highest usage rates per person.
Based on externalities, some countries, e.g. in Europe and Japan, impose heavy fuel taxes on fuels such as gasoline.
United States
Because a greater proportion of the price of gasoline in the United States is due to the cost of oil, rather than taxes, the price of the retail product is subject to greater fluctuations (vs. outside the US) when calculated as a percentage of cost-per-unit, but is actually less variable in absolute terms.
Unlike other goods in the United States, gasoline is sold with tax included. Taxes are added by federal, state and local governments. As of 2009, the federal tax is 18.4¢ per gallon for gasoline and 24.4¢ per gallon for diesel (excluding Red diesel). [28] Among states, the highest gasoline tax rates, including the federal taxes as of 2005, are New York (62.9¢/gal), Hawaii (60.1¢/gal), & California (60¢/gal). [29] However, many states' taxes are a percentage and thus vary in amount depending on the cost of the gasoline.
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