Petrol Price Per Litre $ Around the World

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price-petrol-per-litre-around-the-world
Source: World Bank

This shows the price of petrol per litre around the world. Varying in price from $0.02 a litre in Venezuela to Eritrea with a price of $3.33. Generally Western European economies have the highest price of petrol due to higher petrol tax.

Out of 217 countries listed by the world bank.

Most expensive place to buy petrol in the world

  1. Eritrea $3.33
  2. Norway $2.27
  3. Netherlands $2.15
  • The UK is the 12th most expensive country at  – $1.92
  • The US is one of the cheapest countries – ranked 199/217 on list – $0.76

The cheapest places to buy petrol

  1. Venezuela – $0.02
  2. Saudi Arabia – 0.16
  3. Kuwait – 0.22

Reasons for variation in the price of petrol around the world

  • Oil producer/importer. Countries which produce oil Saudi Arabia, Venezuela and Kuwait unsurprisingly have the cheapest prices.  The one exception is Norway – which despite being a major oil producer has one of the highest prices. By contrast, countries which import oil and petrol have higher prices.
  • Tax levels. In the UK fuel duty is £0.5795 per litre. In addition, VAT is charged at 20%. Approx 60% of the fuel price motorists pay in the UK is tax. This compares to China which has no fuel tax. Malaysia has even had a fuel subsidy.
  • Wage costs and renting. The other significant cost for petrol is the rent for a petrol station and wages of workers. Wages and costs in Western Europe are higher than in the developing world – explaining part of the price differential.

Petrol consumption per capita

petrol-consumption-per-capita

The US has the highest petrol (gasoline) consumption in the world by quite a long way. This is due to

  • US has one of the world’s highest living standards,
  • A transport system geared towards the motorist, long distance car journeys are more common with extensive highway network and more limited public transport systems.
  • Relatively low price compared to countries with similar living standards.

As China experiences economic growth, its per capita consumption is likely to grow rapidly.

Most Expensive Places to Buy Petrol in the World

1 Eritrea 3.33
2 Norway 2.27
3 Netherlands 2.15
4 Italy 2.14
5 Hong Kong 2.06
6 Turkey 2.06
7 Denmark 2.01
8 Monaco 2.00
9 Greece 1.98
10 South Sudan 1.98
11 United Kingdom 1.92
12 Ireland 1.92
13 Belgium 1.90
14 Finland 1.89
15 Portugal 1.89
16 Israel 1.88
17 Iceland 1.85
18 Sweden 1.82
19 Barbados 1.81
20 Germany 1.80
21 Malta 1.80
22 Uruguay 1.80
23 Euro area 1.79
24 France 1.79
25 Malawi 1.78
26 Slovenia 1.78
27 European Union 1.77
28 OECD members 1.77
29 West Bank and Gaza 1.77
30 Slovak Republic 1.77
31 Albania 1.76
32 Switzerland 1.74
33 Liechtenstein 1.74
34 New Zealand 1.71
35 Senegal 1.7
36 Central African Republic 1.69
37 Post-demographic dividend 1.69
38 Congo, Dem. Rep. 1.68
39 Zambia 1.68
40 Czech Republic 1.67
41 High income 1.67
42 Croatia 1.66
43 Mauritius 1.65
44 Spain 1.63
45 Maldives 1.63
46 Cyprus 1.61
47 Austria 1.6
48 Europe & Central Asia 1.6
49 Montenegro 1.6
50 Paraguay 1.59
51 Romania 1.59
52 Central Europe and the Baltics 1.58
53 Hungary 1.58
54 Singapore 1.58
55 Lithuania 1.57
56 Cabo Verde 1.56
57 Zimbabwe 1.56
58 Korea, Rep. 1.55
59 Mozambique 1.55
60 Serbia 1.55
61 Kosovo 1.54
62 Burundi 1.53
63 Mauritania 1.53
64 Argentina 1.52
65 Chile 1.52
66 Luxembourg 1.52
67 Andorra 1.51
68 Bosnia and Herzegovina 1.51
69 Bulgaria 1.49
70 Macedonia, FYR 1.49
71 Latvia 1.48
72 Mali 1.47
73 Estonia 1.46
74 Peru 1.46
75 Guinea 1.45
76 Costa Rica 1.44
77 Marshall Islands 1.44
78 Cote d’Ivoire 1.42
79 Poland 1.42
80 Djibouti 1.41
81 Dominican Republic 1.41
82 Rwanda 1.41
83 Burkina Faso 1.4
84 Cuba 1.4
85 Lao PDR 1.4
86 Uganda 1.4
87 Low income 1.385
88 Japan 1.38
89 Morocco 1.38
90 Belize 1.37
91 Gambia, The 1.37
92 Other small states 1.37
93 Fragile and conflict affected situations 1.365
94 Papua New Guinea 1.36
95 Madagascar 1.35
96 Pre-demographic dividend 1.35
97 Fiji 1.34
98 Cambodia 1.34
99 Least developed countries: UN classification 1.34
100 World 1.34
101 IDA only 1.33
102 Sub-Saharan Africa (excluding high income) 1.32
103 Sub-Saharan Africa 1.32
104 Small states 1.32
105 Europe & Central Asia (IDA & IBRD countries) 1.32
106 Tajikistan 1.32
107 Sub-Saharan Africa (IDA & IBRD countries) 1.32
108 Europe & Central Asia (excluding high income) 1.31
109 Nepal 1.31
110 Armenia 1.3
111 Bangladesh 1.3
112 IDA total 1.3
113 St. Lucia 1.3
114 Caribbean small states 1.29
115 Heavily indebted poor countries (HIPC) 1.29
116 Suriname 1.29
117 Thailand 1.29
118 Tanzania 1.29
119 Upper middle income 1.28
120 Brazil 1.27
121 Jordan 1.27
122 Sri Lanka 1.27
123 Late-demographic dividend 1.27
124 Togo 1.25
125 Cameroon 1.24
126 Georgia 1.24
127 IDA & IBRD total 1.24
128 Australia 1.23
129 East Asia & Pacific 1.23
130 Azerbaijan 1.21
131 IDA blend 1.21
132 Kenya 1.21
133 Low & middle income 1.21
134 Moldova 1.21
135 Honduras 1.2
136 Latin America & Caribbean 1.2
137 Latin America & the Caribbean (IDA & IBRD countries) 1.19
138 South Africa 1.19
139 Middle income 1.185
140 South Asia 1.185
141 South Asia (IDA & IBRD) 1.185
142 Latin America & Caribbean (excluding high income) 1.18
143 Nicaragua 1.18
144 Canada 1.17
145 China 1.17
146 East Asia & Pacific (excluding high income) 1.17
147 IBRD only 1.17
148 East Asia & Pacific (IDA & IBRD countries) 1.17
149 Timor-Leste 1.17
150 Ukraine 1.17
151 Haiti 1.16
152 Lower middle income 1.155
153 Guyana 1.15
154 Early-demographic dividend 1.14
155 Jamaica 1.14
156 Myanmar 1.14
157 Swaziland 1.14
158 Congo, Rep. 1.13
159 El Salvador 1.12
160 India 1.1
161 Niger 1.09
162 Colombia 1.08
163 Namibia 1.08
164 Afghanistan 1.07
165 Belarus 1.06
166 Botswana 1.06
167 Ghana 1.06
168 Bahamas, The 1.05
169 Philippines 1.05
170 Bhutan 1.04
171 Sierra Leone 1.04
172 Vietnam 1.04
173 Benin 1.03
174 Lesotho 1.03
175 Mexico 1.03
176 Gabon 1.02
177 Uzbekistan 1.02
178 Guatemala 1.01
179 Mongolia 1.01
180 Ethiopia 0.99
181 North America 0.965
182 Lebanon 0.96
183 Panama 0.96
184 Kyrgyz Republic 0.94
185 Pakistan 0.94
186 Korea, Dem. People’s Rep. 0.94
187 Indonesia 0.93
188 Liberia 0.91
189 Tunisia 0.91
190 Chad 0.9
191 Middle East & North Africa (excluding high income) 0.895
192 Egypt, Arab Rep. 0.88
193 Middle East & North Africa (IDA & IBRD countries) 0.88
194 Middle East & North Africa 0.83
195 Syrian Arab Republic 0.83
196 Arab World 0.825
197 Sudan 0.82
198 Kazakhstan 0.81
199 Russian Federation 0.81
200 Angola 0.76
201 United States 0.76
202 Bolivia 0.7
203 Yemen, Rep. 0.7
204 Malaysia 0.68
205 Ecuador 0.6
206 Nigeria 0.56
207 United Arab Emirates 0.47
208 Iraq 0.43
209 Brunei Darussalam 0.41
210 Iran, Islamic Rep. 0.374
211 Oman 0.31
212 Algeria 0.27
213 Qatar 0.23
214 Kuwait 0.22
215 Turkmenistan 0.22
216 Saudi Arabia 0.16
217 Venezuela, RB 0.015

 

Source: World Bank – data from 2014. Page updated 2017.

Fuel prices refer to the pump prices of the most widely sold grade of gasoline. Prices have been converted from the local currency to U.S. dollars.

– Pump price for gasoline 2014

Related

12 thoughts on “Petrol Price Per Litre $ Around the World”

  2. If you change only the currency USD to EUR you will have (almost) correct prices for 2012. 🙂 (these numbers are far from reality in 2012 at least for EU)

    Reply
  5. Pingback: List of Countries Energy Use per Capita | Economics Blog

  6. Yesterday, April 30, 2018, a litre of gas in Vancouver Canada was $1.61 (Can $), which would likely move it up several notches in the most-expensive chart. Recent rise is largely caused by a pipeline contretemps between the provinces of British Columbia and Alberta.

    Reply

  7. Monaco: The price of gasoline is 2.01 U.S. Dollar per liter. For comparison, the average price of gasoline in the world for this period is 1.15 U.S. Dollar. The chart below shows the price of gasoline in the country relative to other countries. Sorry I cannot post the 11 countries most expensive fuels in the world because it’s in Jpeg file. This price are as of March 12, 2018.

    Reply

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