The cheapest gasoline in the world is sold in Venezuela, where the cost of a liter of fuel is much cheaper than bottled water. This is indicated by a study of experts who covered more than 60 countries, showing the average price per liter of 95th gasoline in 2019.
The ranking includes the top 10 countries with the cheapest gasoline in the world. The cost of the oil product is indicated in US dollars.
List
- 10. Indonesia | Price 1 liter 0.73 $
- 9. Russia | Price 1 liter 0.72 $
- 8. Pakistan | Price 1 liter 0.71 $
- 7. UAE | Price 1 liter $ 0.59
- 6. Saudi Arabia | Price 1 liter $ 0.56
- 5. Malaysia | Price 1 liter 0.50 $
- 4. Nigeria | Price 1 liter $ 0.40
- 3. Kuwait | Price 1 liter $ 0.35
- 2. Iran | Price 1 liter 0.29 $
- 1. Venezuela | Price 1 liter $ 0.01
- What affects the cost of fuel?
10. Indonesia | Price 1 liter 0.73 $
Indonesia opens the top ten countries with the cheapest gasoline in the world. The cost of a liter of fuel in the state is 0.73 dollars. The basis of the Indonesian economy is the extraction and refining of oil and gas, which played a role in setting fuel prices.
9. Russia | Price 1 liter 0.72 $
RussiaAs statistics show, it’s not the most expensive gasoline in the world. The cost per liter of AI 95th is an average of 0.72 dollars. In Russia, unlike most European countries, the dynamics of gasoline prices traditionally runs counter to the dynamics of oil prices. Over the year, the cost of fuel increased by almost 5%, which, however, did not prevent the state from taking second place among European countries in terms of gasoline prices.
As follows from the rating results, as of the beginning of 2019, together with other countries of the Customs Union, fuel in Russia remains the cheapest in the European part of the world. But, given the incomes of the population, gasoline in Russia is the least available in Europe. Russia ranks 33rd in terms of fuel availability. A liter of fuel costs 2.35% of the average income per day, which, according to the agency, is 1386 rubles. On average, a Russian spends 2.41% of his salary on gas, which is one of the highest rates in the world.
8. Pakistan | Price 1 liter 0.71 $
Pakistan - One of the cheapest countries with low gas prices. The price per liter of fuel in the country is $ 0.71. Pakistan is considered one of the poorest countries in the world in 2018-2019. Pakistan's economy relies on oil and gas exports, which explains the relatively low cost of fuel.
7. UAE | Price 1 liter $ 0.59
IN UAE selling very cheap gasoline with a cost per liter of $ 0.59. Judging by general information, the cost of oil production is about $ 2-5 per barrel. And at the same time it should be noted that this is a good "dark" brand oil, and not "light or light" WTI brand oil. Given such a prime cost and the quality of the extracted “black gold”, you can naturally sell it at low prices and process it into gasoline profitably. In addition, the state ranks 7th in terms of oil reserves in the world. The 17th place in the UAE world is occupied by natural gas reserves.
Thanks to the economic policies of the Government of the United Arab Emirates, the country has very low gas prices.
6. Saudi Arabia | Price 1 liter $ 0.56
Saudi Arabia It has the cheapest gasoline, both among the Arab countries and in the world. The average price per liter of fuel here is 0.56 US dollars. This state is the largest oil exporter in the world. The budget of Saudi Arabia is 70 percent of oil revenues. Thanks to this, state authorities may not have to tax large producers of gasoline and diesel fuel.
In the conditions of a constant increase in market prices King of Saudi Arabia regularly reduces the price of gasoline domesticallyhelping residents save a lot.
5. Malaysia | Price 1 liter 0.50 $
Malaysia one of the ten countries with the lowest fuel prices. The cost of a liter of gasoline does not exceed $ 0.50 per liter. Low fuel prices due to its own rather large oil reserves.
4. Nigeria | Price 1 liter $ 0.40
Nigeria has the cheapest gasoline in the world. A local resident spends about 0.40 US dollars per liter of fuel. This is due to the fact that 75% of Nigeria's state revenue is provided by oil and used to subsidize extremely cheap gasoline.
3. Kuwait | Price 1 liter $ 0.35
Kuwait - A country where one of the cheapest gasolines in the world is sold. The cost of a liter of fuel here is an average of 0.35 dollars. Kuwait is considered one of the richest small states in the world with huge oil reserves. It occupies the 5th place in terms of oil reserves globally. 95 percent of Kuwait’s revenue is oil sales. The Arab state ranks 11th in the world as the richest country.
2. Iran | Price 1 liter 0.29 $
IN Iran one of the cheapest gasolines in the world is on sale. As you know, there is a lot of oil in Iran, because at the age of eight they get on scooters here, and they go to the store only by car. In a word, a highly motorized country. For diesel, local people have to pay miserable amounts of 0.29 dollars per liter. Refueling here is not common, and diesel fuel can be found far from every gas station, columns with it are taken out of the territory. “Heavy fuel” is refueled only by trucks and buses; cars operate exclusively on gasoline.
1. Venezuela | Price 1 liter $ 0.01
Venezuela supplies the market with the cheapest gasoline in the world with an average cost of $ 0.01 per liter. For 17 years, gas prices in the country did not rise, while in many countries they rose 4-5 times. The government of this country artificially maintains such a low cost of gasoline. Even in certain conflict situations, everything is decided in favor of citizens who believe that if a large amount of oil is produced in the country, then gas prices should be cheap. At the gas station, drivers sometimes give more tips than they pay for a full tank. Every resident in Venezuela has his own car and drives it daily.
What affects the cost of fuel?
The cost of fuel depends on a number of factors. Many countries do not have their own oil fields and must purchase it on the market. The price of gasoline is also affected by financial crises, tax increases, as well as the presence or absence of its own oil refineries.
In some countries, low fuel prices have developed historically, and if they rise, mass protests among the population are inevitable. In Iran, for example, they even imposed restrictions on the sale of fuel due to the fact that people bought gasoline domestically at a cheap price and took it abroad to sell it more expensive.
Much also depends on the domestic policy of the state. For example, Norway is also an exporter of oil and oil products, but domestic gasoline prices are the highest in Europe - $ 2.60 per liter. The high cost of fuel in this state is associated with a high standard of living of citizens.