Searching for cheap gas? When it comes to gas prices, people think they're paying a lot these days. In Chicago, I've seen gas for as much as around $3.50. Prices have been driven higher due to the tightening oil supply in the wake of Hurricane Katrina. But do we pay too much for gas in America?
Compare our situation to Europe. There, in London, gas goes for about $6.60/gallon. It's even higher elsewhere.
What does that say about our situation? I'd say we should consider ourselves lucky. And to be honest, higher gas prices might be a good thing. It would encourage more people to consider alternate forms of transportation or get cars with higher gas mileage. And that of course is exactly why Europe taxes gas more than we do.