Fuel prices have begun to sky rocket in the U.S. again, with no end in sight. It’s leading to rising costs in travel, shipping and consumer products nation-wide. The question: what exactly is behind these rising costs and what can we expect in the future?
According to this informative graphical snapshot by NPR, Americans consume 300 million gallons of gasoline each day, placing them as the worlds largest consumer of the limited resource. Surprisingly, considering this fact and the fact that the country increasingly relies upon imports of foreign crude oil, the U.S. saw its largest export in 2011 become gasoline.
This graphic explores the statistics behind where the U.S. gets its crude oil, the supply and demand for this precious product, as well as the average prices and costs we are seeing around the country. We are nowhere near being as expensive as other countries around the world, with much of Europe familiar with higher prices and smaller automobiles, but the question remains: how long will that last and what effects will we see as a nation?
Click here or the graphic below for a full-sized view:
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