Share
0
Facebook
0
LinkedIn
0
Twitter
0
GooglePlus
0
Reddit
0
StumbleUpon
Loading, please wait

Which Countries have the Lowest Gas Prices

By James Burgess
Posted on Wed, 20 February 2013 22:40 | 2

Everyone complains about the cost of gasoline, yet we all pay different prices. In the US the cost of gasoline is far lower than those in Europe, and in the Middle East the prices are lower still.

ArabianBusiness.com has compiled a rather interesting list detailing the world’s ten cheapest countries for gasoline prices.

American’s constantly complain about the price of gasoline, and have even gone to war several times to prevent prices rising too much. They currently stand at number ten on the list, paying an average of $3.29 a gallon.

Mexico closely follows the US in ninth place with an average price of $3.22 a gallon, although they probably hope that this will drop with the new plans to develop the country’s oil industry, laid out by President Enrique Pena Nieto.

Related article: Americans Paying European Prices for Oil?

In third place you will find Malaysia, paying a price of $2.62 a gallon for its gasoline.

Despite the corruption and crime that riddles the Nigerian oil industry, generous subsidies from the government ensure that its gasoline remains cheap at just $2.34 a gallon.

Iranians pay $2.15 a gallon; the UAE pays just $1.77; in fourth place on the list is Egypt at $1.14 a gallon; prices of gasoline in Kuwait are an incredibly low $0.81 a gallon; in Saudi Arabia a gallon of gasoline costs just $0.45; and the lowest price in the world (according to ArabianBusiness.com) can be found in Venezuela at a staggeringly miniscule price of $0.06 a gallon.

There are countries such as Qatar, Oman, and Bahrain which for some unknown reason have been left off this list by ArabianBusiness.com, yet each has far lower gasoline prices than the US or Mexico.

By. James Burgess of Oilprice.com


Join the discussion

Special Reports

8 Mega Trends

8 Mega Trends

By Oil & Energy Insider Analysts

8 OIL & GAS INDUSTRY MEGA-TRENDS AND HOW TO PROFIT FROM THEM
Here's what our 400 global energy assets are telling us to be prepared for right now...

LNG Technology

LNG Technology

By Oil & Energy Insider Analysts

THE "FLOATING REFINERY" STOCK THAT COULD FUND YOUR RETIREMENT
This company's incredible tanker technology could eliminate many of the world's offshore pipelines...

Subsea Production

Subsea Production

By Oil & Energy Insider Analysts

THE END OF OFFSHORE DRILLING?
This disruptive market will grow 84% to 270% over the next five years: Discover the 6 equipment suppliers set to profit.

Leave a comment

  • Rick Nelson on February 21 2013 said:
    Costa Rica has the worst roads in the region and the highest taxes on oil products which are supposed to be used to fix the infrastructure. The current price is $5.42 per gallon, and the quality is among the worst - provoking damage to modern engines. It is the price of choosing radical "conservation" and anti-development.
  • Rey Waters on February 21 2013 said:
    I was recently in Ecuador and their price per gallon was $1.47 , which moves them into fourth place ahead of UAE