Drivers in France are gearing up for a petrol pinch. Recent reports suggest that record high gas prices are hitting parts of the country, with gas costing 1.62 Euros per liter. That works out to the equivalent of $8 American per gallon.
According to NPR, "Prices are up because of problems with two of France's main oil suppliers. Nigeria is racked by civil unrest, and European Union sanctions bar France from importing oil from Iran."
The report also added that prices could continue to skyrocket in the coming months, with prices of $10 per gallon (2 Euros per liter) not out of the question. Concerns over the cost of petrol have now become something of a political issue, as elections in France draw closer.
NPR's Eleanor Beardsley reports that front-running socialist candidate Francois Hollande was in favor of a measure that would freeze the price of gas. Le Monde reports that the incumbent party of President Sarkozy argues that idea is an outdated stopgap measure.
Across the Atlantic, it's election season in the US, and Americans are also bracing for high prices at the pump. ABC News reports that gas prices may once again near $4, a price most parts of the country hadn't had to brace for since last spring. By Memorial Day, the national average may be over $4.
There does seem to be some correlation, however coincidental, between election season and gas prices. The International Business Times is quick to point out that gas prices also flirted with the $4 high during the 2008 election season.