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You think gas prices are bad here, Italians are paying $9.50/gal

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Drivers in certain parts of Italy are currently shelling out a staggering $9.50 per gallon of gasoline, according to Bloomberg. The hefty fuel prices are largely the result of the European debt crisis. Italy has hiked fuel taxes in an attempt to get a handle on the country's public debt, which has the dubious honor of being the fourth-highest in the entire world. Of course, the jump in fuel costs has only hurt consumer spending in the country, sending Italy even farther into a recession that con

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You think gas prices are bad here, Italians are paying $9.50/gal originally appeared on Autoblog on Thu, 06 Sep 2012 08:28:00 EDT. Please see our terms for use of feeds.

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