The highest price of gasoline in the world is in The Netherlands at US$6.48/US gal. The cheapest is in Venezuela, at $0.12. In the area I live (Western Canada), the price is roughly US$3.00 a gallon.
Here in Canada, in Europe, and numerous other countries, the price of gasoline appears "cheaper" because we pay by the litre in local currency. Thus, the price I'm seeing around here is CDN 92.5c per litre, while over in Vancouver, BC, the price is CDN$109.2/litre.
Yet, at my house, the more expesive the gas, the more we are saving. About 18 months ago, I lost my Honda Odyssey, after it was totaled in an unfortunate accident. My wife and I had previously been discussing a smaller vehicle, and this was the opportunity, forced upon us as it was. We picked out a year-old lease-return 2004 Toyota Corolla. Other than less space avaialble to us, everything about the Corolla is equal to or better than the Honda.
In terms of savings at the gas pump, I'm smiling. For every 10 cents, we save $100 a year. When the price of gas was around 70c/l a year ago, we were saving $700 a year on gas over the Honda mini-van. Now at 90c/l, we're saving $900 a year.
Should gas hit $1.30/l, then the savings will pay for our annual auto insurance of $1,300.
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