Usage and pricing

UK petrol prices

The US accounts for about 44% of the world’s gasoline consumption. In 2003 The US consumed 476.474 gigalitres (1.25871×10¹¹ US gal; 1.04810×10¹¹ imp gal),which equates to 1.3 gigalitres of gasoline each day (about 360 million US or 300 million imperial gallons). The US used about 510 billion litres (138 billion US gal/115 billion imp gal) of gasoline in 2006, of which 5.6% was mid-grade and 9.5% was premium grade.

Western countries have among the highest usage rates per person.

Based on externalities, some countries, e.g. in Europe and Japan, impose heavy fuel taxes on fuels such as gasoline.

United States

Because a greater proportion of the price of gasoline in the United States is due to the cost of oil, rather than taxes, the price of the retail product is subject to greater fluctuations (vs. outside the US) when calculated as a percentage of cost-per-unit, but is less variable in absolute terms. From 1998 to 2004 the price of gasoline was between $1 to $2 USD per U.S. gallon. After 2004, the price increased until the average gas price reached a high of $4.11 per U.S. gallon in mid-2008, but has receded to approximately $2.60 per U.S. gallon as of September 2009. Recently, the U.S. has experienced an upswing in gas prices of 13.51% from Jan 31st to March 7, 2011.

Unlike most consumer goods, the prices of which are listed before tax, in the United States, gasoline prices are posted with taxes included. Taxes are added by federal, state and local governments. As of 2009, the federal tax is 18.4¢ per gallon for gasoline and 24.4¢ per gallon for diesel (excluding Red diesel). Among states, the highest gasoline tax rates, including the federal taxes as of 2005, are New York (62.9¢/gal), Hawaii (60.1¢/gal), & California (60¢/gal). However, many states' taxes are a percentage and thus vary in amount depending on the cost of the gasoline.

About 9 percent of all gasoline sold in the US in May 2009 was premium gas, according to the Energy Information Administration. Consumer Reports magazine says “If your car can run on regular, run it on regular.” The Associated Press said that premium gas—which is a higher octane and costs several cents a gallon more than regular unleaded—should be used only if the manufacturer says it is “required.”