I stole that title from the first line of a New York Times article sent to me via email (hat tip: G). Here is the reminder we might need (Savoring Bargains ...):
Not as cheap as American drivers would like, of course. ... Compared to prices in most other industrialized nations, however, the American national average of $4 a gallon is a bargain.
The chief reason for the disparity with the high-priced nations is taxation. Take away the taxes, and the remaining gas price is similar from place to place. ...
Gas taxes are used to encourage conservation, to finance roads and transit, and to fill other government coffers. Higher rates tend to insulate drivers from price spikes. On a percentage basis, Europeans have had to absorb far smaller increases in gas costs than Americans in recent years. They’re used to paying double what Americans do — or more — and they live accordingly.
