Monday, June 8, 2009
Gasoline prices in the US are around US$2.60 per gallon this week. The American Petroleum Institute (API) mentioned today that proposed US climate change legislation would add 77cents per gallon onto US oil prices. A rough calculation converts this to around US$2,240 out of pocket per US household per year. Gross this number up to pre-tax income and it becomes a whopping big number.