Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
Belgium motor fuel prices increased 16% in 2011 compared to 12% in neighboring countries. Belgium is a heavily industrialized country with a higher than average per capita consumption of petroleum compared to the United States. Energy price volatility also increases inflation for groceries and other consumer goods; energy prices were around 10 percent higher in the first quarter of 2011 - compared to non-energy prices at around 2.3 percent. Belgium also has a high excise tax rate on fuel.
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