True cost of gasoline?
The real price of gasoline? Possibly $15 plus per gallon according to this 1998 study from an org called the International Center for Technology Assessment.
I haven’t yet looked closely into the methods used to calculate that figure, so don’t count this blog post as an endorsement. I’m interested in the type of information that this purports to be, though. If anybody wants to critique the ICTA study, have at it in the comments.
Also, they released an update in January 2005.
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One problem with the study is that it considers a tax break to be a “subsidy,” hence a “cost” for consumers. The “cost” of gas thus includes whatever money they “could have” taken from oil companies.