You think gas prices are bad here, Italians are paying $9.50/gal
Fuel prices have increased by around 20 percent versus the same time period last year, and that jump has caused new car sales to slacken by 20 percent through the first seven months of 2012. Meanwhile, gasoline and diesel consumption has fallen by around 9.7 percent through June.
According to analysts, with gas at these prices the average Italian family is spending more on fuel than it is on food. Ouch.
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