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
- Eritrea $3.33
- Norway $2.27
- 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
- Venezuela – $0.02
- Saudi Arabia – 0.16
- 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
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
I think you mean $$ per litre not per gallon.
Thanks Ed!
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)
These are from 2010 (latest I could fine). Prices have been converted from the local currency to U.S. dollars. But, yes, prices have increased a lot in recent years.
Hi, in case you are interested, we collect and publish updated petrol prices on a monthly basis. We try to get both unleaded gas and diesel prices for as many countries as we can (not an easy task). One can convert to various currencies and measurement units:
http://www.mytravelcost.com/petrol-prices/
are sure/how far true is it that fuel in Venezuela,RB,is as cheap as $0.02
Yes, though by 2012 it has increased a little. it is still cheapest in world. http://www.ft.com/cms/s/0/48c41bde-d59a-11e1-b306-00144feabdc0.html#axzz296wQP1fa
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.
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.
Why the price of petrol is so cheap in Venezuela even though they are having a financial crisis.
It is one thing Venezuela produces domestically, so costs of production are low.