Think Gas is High? Try Europe

On Tuesday, hundreds of British truck drivers in London and Cardiff brought traffic to a crawl in a campaign to get their government to lower taxes on diesel fuel, which now costs over $11 per U.S. gallon (3.8 liters). Other businesses owners who rely heavily on gas use — including farmers, ambulance and taxi drivers, and private bus companies — have joined the protest movement or are preparing to do so.

Why so high?

One big reason for the difference is that European governments put a much higher tax burden on fuel than the U.S. does. State and federal taxes currently make up just 11%of the pump price in the U.S., according to the Energy Information Administration; in France and the U.K., taxes account for an average of around 70%. Bounce 2 Time to read full article.