7 December 2018 (UN Environment)* — Gone are the days when you could fill up your car gas tank with US$20. Yet, despite the steady increases, gas prices are still artificially low, keeping transportation and national production costs relatively contained and internationally competitive.

Unfortunately, this situation is deeply unsustainable, particularly if we are to seriously curb our CO₂emissions, slow our impact on climate change and reduce air pollution.

Every year, governments spend between US$160 and US$400 billion as fossil fuel subsidies for the production and use of coal, oil and gas.