The Price of Gas – Take Four

Price of a gallon of gas per country as of March 2011:

Country Price 
Norway $6.82
Hong Kong $6.25
Belgium $6.16
United Kingdom $5.96
Italy $5.80
Canada $5.36
Japan $5.25
Brazil $4.42
India $3.71
Australia $3.42
South Africa $3.39
Mexico $2.22
Argentina $2.09
Saudi Arabia $0.09
Kuwait $0.08
Venezuela $0.12

Largest Oil Producing Nations as of 2009:

Country Production Share of World %
Russia 10,120,000 12.01
Saudi Arabia 9,764,000 11.59
United States 9,056,000 10.75
Iran 4,172,000 4.95
China 3,991,000 4.74
Canada 3,289,000 3.90
Mexico 3,001,000 3.56
United Arab Emirates 2,798,000 3.32
Brazil 2,572,000 3.05
Kuwait 2,494,000 2.96
Venezuela 2,472,000 2.93

Would you not think that the United States, being the third largest oil producer in the world, would have prices at the pump that are a little closer to those of Saudi Arabia?

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