If you ask the average American what they think of current gas prices, they would probably tell you that they think $3 per gallon is too high. If you ask me, I think that Americans are spoiled and they don’t realize how much cheaper gas is here compared to the rest of the world. Not only is the absolute price of gas cheaper in the U.S. than anywhere else, but with one of the highest per capita GDP in the world (ranked 4th in 2006 according to the International Monetary Fund) it is even cheaper in relative terms. Here is the average end-use price per liter for January 2008 in several nations:
By comparison, the average price of fuel in the U.S. for January of 2008 was $3.06 per gallon, but in Germany it was $7.80 per gallon! The UK isn’t that much better at $7.71 per gallon. Even our neighbors to the north (Canada) are paying nearly $4 per gallon ($3.97 to be more precise) so I think those of us in the USA really have very little to complain about.