Oil is set to close…
As earnings season is nearing,…
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
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…