Why a Gallon of Gas Costs $3 in Texas and $12 in Hong Kong
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The post Why a Gallon of Gas Costs $3 in Texas and $12 in Hong Kong appeared first on 24/7 Wall St..
American drivers filling up in Texas are paying $2.31 to $2.39 per gallon while Hong Kong motorists pay $11.62. That gap reflects four structural forces pulling in opposite directions.
The Four Drivers
Crude costs dominate, representing roughly 51% to 52% of the U.S. retail price. When the Strait of Hormuz disrupted roughly one-fifth of global oil and LNG flows during the 2026 Iran conflict, Asia
American drivers filling up in Texas are paying $2.31 to $2.39 per gallon while Hong Kong motorists pay $11.62. That gap reflects four structural forces pulling in opposite directions.
The Four Drivers
Crude costs dominate, representing roughly 51% to 52% of the U.S. retail price. When the Strait of Hormuz disrupted roughly one-fifth of global oil and LNG flows during the 2026 Iran conflict, Asia
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