Israeli drivers pay the third-highest prices in the world to fill their cars with gasoline, according to a survey by the Bloomberg news agency released Tuesday. The survey, called "Gasoline Prices Around the World: The Real Cost of Filling Up," found that the average price per gallon of gas in Israel is $6.68. Only Norway and Hong Kong ranked higher for gas prices. In Venezuela, which is undergoing political turmoil, gas costs just 1 cent per gallon. In Saudi Arabia, drivers pay 84 cents per gallon, while in Iran the price is $1.25. In the United States, the average price per gallon is $2.56. Taxes -- namely withholding tax and value-added tax -- are the main reason why gas is so expensive in Israel, accounting for 67% of the price at the pump. "Israel caps the price of 95-octane gas while allowing other forms of the fuel to fluctuate. That makes it easier for most drivers to overindulge, and Israel ranks among the world's biggest gas guzzlers," the report said. "With an average daily income of $114.20, it takes 5.85% of a day's wages to afford a gallon of gas. The average driver uses 123.55 gallons a year, which eats up 1.98% of the typical salary."
Israel's gasoline prices the 3rd highest in the world, survey finds
Israeli drivers pay $6.68 for a gallon of gas, almost three times as much as in U.S., survey says • High taxes raise Israeli gas prices • "With an average daily income of $114.20, it takes 5.85% of a day's wages to afford a gallon of gas," report says.
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