Where in the world is the cheapest and most expensive gasoline: infographic
Kyiv • UNN
The average global price of A95 gasoline is $1.27/liter. The cheapest in Iran ($0.029/l), the most expensive in Hong Kong ($3.314/l). Ukraine ranks 113th with a price of $1.43/l.
The average price of gasoline (A95) is USD 1.27 per liter. However, there is a big difference in the cost of this type of fuel by country. UNN decided to find out where in the world the cheapest fuel of this class is and where the most expensive is. And what place does Ukraine take in this rating.
“As a rule, prices are higher in richer countries, while in poorer countries and in countries that produce and export oil, prices are much lower. At the same time, a notable exception is the United States, which is an economically developed country but has low gasoline prices. The difference in price between countries is due to different taxes and subsidies on fuel. All countries have access to oil of the same price on international markets, but impose different taxes. Therefore, the retail price of fuel is different,” GlobalPetrolPrices analysts explain.
So where is the cheapest gasoline?
The top 3 countries with the lowest prices for A95 gasoline are: Iran, Libya, and Venezuela.
For example, in Iran, the price of this type of fuel has not exceeded $0.029 per liter in recent days, which is about 1.179 UAH. In Libya, the cost is $0.031 per liter (1.285 UAH), in Venezuela - $0.035 per liter (1.442 UAH).
Next comes Egypt, where the price is slightly higher and amounts to $0.309 per liter.
In general, the cost of a liter of A95 gasoline is less than one dollar in about 46 countries.
Ukraine, according to GlobalPetrolPrices analysts, is now ranked 113th, with the average cost of A95 gasoline at $1.43 per liter.
Hong Kong residents pay the most for this type of fuel - $3.314 per liter.
