Friday, December 17, 2010
Gulf States Consider Ending Fossil Fuel Subsidies
Most of Europe has long since adjusted to its high gas prices, with the UK now paying $6.60 for a full gallon, Norway and Denmark; $7.41 and $6.89 respectively. Even in Hong Kong, gas costs $6.87, according to a report published this year by US-based research firm AIRINC that collated global gas price data from around the world in US dollars.
But gas guzzling Americans, currently screeching at the prospect of topping $3, pay only $2.85. Middle Eastern drivers are even worse. UAE residents pay even less, currently just $1.57. Kuwaitis pay only 85 cents and at the very bottom of the Gulf state list, according to Arabian Business, are the Saudis who pay just 45 cents a gallon! More >>>