How did middle east countries keep price close to $2.00/gallon when is was way higher in the developed world. Free market is an answer but maybe not a good one, Just asking.
Because many countries in the middle east subsidize their gas. I believe Saudi Arabia still subsidizes it the most. UAE used to have it highly subsidized until 2015 when they drastically cut the subsidies.
We in the USA however don't get subsidies. Instead the Federal and State governments Tax us instead.
How did middle east countries keep price close to $2.00/gallon when is was way higher in the developed world. Free market is an answer but maybe not a good one, Just asking.
Because many countries in the middle east subsidize their gas. I believe Saudi Arabia still subsidizes it the most. UAE used to have it highly subsidized until 2015 when they drastically cut the subsidies.
We in the USA however don't get subsidies. Instead the Federal and State governments Tax us instead.