Cheap Petrol in the USA
Here in Turkey we also bemoan the high cost of petrol, so let's just compare who's the better off.
The current price of petrol in the USA is $3.30
per US gallon.
Now the current cost of petrol in Turkey is 3.25
Turkish Lira per liter.
And it doesn't stop there...
The average income per capita in the USA is $37,500.
That means the average Turkish citizen has 5.6 LESS purchasing power than the average citizen in the USA.
So, if the price of petrol in the USA were to be adjusted to be equivalent to what it costs the average Turkish citizen today, in real terms, it would have to be increased to, wait for it...
$69.12 per US gallon.
Makes $3.30 per US gallon seem like a bargain, or what?
It's what Governments do...
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