And Americans are complaining at an average gas price in the mid $3 range. In Europe, gasoline has just hit an all time record of $8.632 per gallon! As HLN.be reports: "tomorrow the price of gas will reach an absolute record. Petrol 95 can hit €1.624 per litre. This breaks the 2008 record of €1.61 per liter." Translated into American this means that a gallon of gas in Europe is now an unprecedented $8.632 per gallon, which will certainly result in Europe literally and metaphorically grinding to a halt.

More from HLN.be:

The newest price increase, with 3.3 eurocent by litre, is the consequence of the increase of the quotations of the oil products on the international markets.



The maximum price of petrol 98 will also increase tomorrow, up to 1.637 euro by litre (+2,2 eurocent by litre).



Also fuel becomes more expensive. For orders of more than 2,000 litres the consumer pays up to 0.833 euro by litre as from morning (+2,5 eurocent by litre). That is record still no: in July 2008 mazout up to 0.954 euro by litre cost at orders of at least 2,000 litres.



The maximum price of diesel today already rose to 1.443 euro by litre. The price of diesel is now near the record of 1.469 euro by litre from May 2008.

Worried about the impact of oil price on the US? Be far more worried with what happens to Europe as the continent grinds to a halt.

h/t Jonas