I do not believe that the current price for gas has any justification. It seems artificially inflated to me. Does anyone else have an opinion. I realize summer is always the time when prices shoot up so I guess I should have expected it.
The differential between European and N. American gas prices is almost entirely due to much, much higher taxes. But, let's be honest, you Europeans live in smaller countries and have much better access to public transportation so your need to drive long distances just to take care of everyday needs like getting to work and buying groceries, is much less than it is here in the U.S.
Simple, demand is threatening to outstrip supply of refined product. Supply growth is constrained so price must rise to keep the demand in balance.
If we reduce consumption, prices will fall (and no one day boycott is going to do this.) The price is "justified" because that is what the market is willing to pay. OilCos don't set the price, the market does.
Government regulations, no refineries built in this country in the last 20 years, the publics demand for gas, expensive to find oil, those are some reasons. If your complaining about gas prices, check the milk prices in the supermarket. And when the farmers start selling more corn for ethenol check the food prices.