How Countries Compare

World energy demand is at an all-time high. China, once an exporter of oil, has doubled its oil imports in the last four years. Demand in the Asia region as a whole, is forecast to grow at a strong pace. Overall, the United States consumes approximately 25 percent of the world's energy–which translates into one million dollars worth of energy every minute.

Gasoline & Petrol

In 2008, crude oil topped $111 a barrel for the first time. During that time, the U.S. average retail price for regular unleaded gasoline reached $3.28 a gallon.

Despite the increase, people in the United States still pay significantly less for gasoline than people in many other countries.

Chart: The Cost of Gasoline/Petrol in U.S. Dollars

This chart depicts the elements of production, transportation, refining and distribution required to transform crude oil into finished petroleum products like gasoline.

In the United States, the average tax on gasoline is 47 cents per gallon. The tax is usually a combination of federal, state and local fees, underground storage tank fees and other environmental fees. Many European countries attach much higher fees as an incentive to reduce greenhouse gas emissions and raise revenue, increasing the overall price of gasoline.