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In contrast with North America, gasoline prices in [[Europe]] are much higher – between two and four times more expensive, a consequence of high fuel taxation. [[Norway]] has the highest prices (14.23 NOK/L, 11.28 US$/US gal), due to a tax rate of 170% (US$1.42 per liter).<ref>[http://news.yahoo.com/s/afp/20080722/bs_afp/norwayoilpricetaxclimate;_ylt=Anm7UK6MTG8CxbnTFFhf87YDW7oF In oil-rich Norway, petrol prices most expensive in Europe]</ref><ref>http://www.shell.com/home/Framework?siteId=no-no&FC2=/no-no/html/iwgen/shell_for_businesses/priser/zzz_lhn.html&FC3=/no-no/html/iwgen/shell_for_businesses/priser/veiledende_priser.html</ref>
In contrast with North America, gasoline prices in [[Europe]] are much higher – between two and four times more expensive, a consequence of high fuel taxation. [[Norway]] has the highest prices (14.23 NOK/L, 11.28 US$/US gal), due to a tax rate of 170% (US$1.42 per liter).<ref>[http://news.yahoo.com/s/afp/20080722/bs_afp/norwayoilpricetaxclimate;_ylt=Anm7UK6MTG8CxbnTFFhf87YDW7oF In oil-rich Norway, petrol prices most expensive in Europe]</ref><ref>http://www.shell.com/home/Framework?siteId=no-no&FC2=/no-no/html/iwgen/shell_for_businesses/priser/zzz_lhn.html&FC3=/no-no/html/iwgen/shell_for_businesses/priser/veiledende_priser.html</ref>
The average price in the [[United Kingdom]] is 1.50 €/L (8.82 US$/US gal). Fuel duty is paid per liter, and 17.5% VAT is paid on the fuel ''and'' on the fuel duty. With a fuel price of 1.50 €/L, this combines to make an average tax rate of 134% (0.86 €/L).<ref>http://www.petrolprices.com/fuel.html</ref>
The average price in the [[United Kingdom]] (July 2008) is £1.19/L (8.99 US$/US gal). This price includes fuel duty, paid per liter, and 17.5% [[VAT]] paid on the fuel ''and'' on the fuel duty. The U.K. has the ninth highest price in Europe.<ref>Today's national averages. [http://www.theaa.com/motoring_advice/fuel/ Fuel Price Reports: UK and overseas fuel prices]. The AA.com Retrieved 23 July 2008.</ref>
Some countries subsidise their gasoline, including Middle-Eastern Iran, Kuwait, Saudi Arabia and Egypt, and Asian counties Burma, Malaysia, China, and South Korea. The Venezuelan government, with vast oil reserves, maintains the world's cheapest gasoline, at 0.12 US$/US gal.<ref>http://www.businessweek.com/bwdaily/dnflash/content/may2008/db20080523_344156.htm</ref>
Some countries subsidise their gasoline, including Middle-Eastern Iran, Kuwait, Saudi Arabia and Egypt, and Asian counties Burma, Malaysia, China, and South Korea. The Venezuelan government, with vast oil reserves, maintains the world's cheapest gasoline, at 0.12 US$/US gal.<ref>http://www.businessweek.com/bwdaily/dnflash/content/may2008/db20080523_344156.htm</ref>