Financial Edge: The Gasoline Business Is All About Location

Along with barbecues, parades and a day off of work, one of the Memorial Day traditions in the United States is to talk about the price of gas at what is still called the "start of the summer driving season." Readers who don't travel much may be surprised at the extent to which gasoline prices can vary from state to state - a byproduct of not only the number of refineries in a given region, but pipeline access, quality/formulation regulations and taxes. What's true in the United States is also true around the world. Gasoline prices vary remarkably around the globe, with some countries offering subsidized rock-bottom prices and others layering sizable taxes on every liter or gallon.

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