With barrels of crude oil rising to the cost of $40 a barrel, I noticed as I passed by the gas stations today that premium is up to $2.50 a gallon now.
Analysts have been predicting for a while now that we'd be seeing $3 per gallon before summer. Gas prices, I've noticed, is a cyclical one that gradually inches upward.
The American lifestyle, it turns out is responsible for 45% of the world's gasoline consumption. Think about that for a moment -- out of all the industrialized countries in the world, America almost use more gasoline than the rest of the world combined. Despite our heavy use and our dependence on foreign oil, we still manage to retain some of the cheapest gasoline prices in the world.
The market for SUVs resides mainly in the U.S. Few countries have need for personal vehicles which are so bulky and consume so much gasoline.
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