alt Hacker NewsI feel like you have not watched any videos of what's going on there right now. People lining up to buy any gas, and those lines are miles long, sometimes they have to wait for 8-10 hours. The crisis now causing shortages in neighboring countries - Central Asian republics and Mongolia. Average gas prices jumped considerably - 8-10x, and you'd think, well, how expensive the gas then? And it's about $4 per gallon. So, just like I said - the "cheap" American gas is comparable to the most expensive gas in modern history of Russia. Of course, there's purchasing power parity and other factors, that's why I said "in absolute-numbers-sense".
> and you'd think, well, how expensive the gas then? And it's about $4 per gallon. So, just like I said - the "cheap" American gas is comparable to the most expensive gas in modern history of Russia.
You have completely missed the point. The gas is cheap due to the government forcing it to be.
If the prices were set by the free market, it would not be $4 per gallon with shortages causing lines to stretch 10 hours long.
Russia also has 1/3 the median household income of the US. So in parity adjusted dollars they’re paying something closer to 3X as much as you for gas. Not the same amount.