The 10 countries with the lowest petrol prices
Despite the significant rise in the cost of fuel in Spain, the price of petrol and diesel have not exceeded the European average, namely €1.606 for Euro95 petrol and €1.500 for diesel. Europe is precisely the continent where some countries, such as Norway and the UK, pay the highest prices for gasoline in the world, as seen in the graphics above, prepared by Staveley Head. However, there are other countries where the price of gasoline is cheaper than the price of a bottle of water. The countries with the cheapest gas in the world are (prices below are averages):
- Caracas, Venezuela: 2p per litre
- Riyadh, Saudi Arabia: 8p per litre – Holding 20% of the world’s oil reserves ensures that the country will remain one of the cheapest in the world.
- Tripoli, Libya: 9p per litre – 41 billion barrels of oil/year place Libya on the 9th place in the world league of oil producers. Recent events in the country have most certainly resulted in a significant increase in cost.
- Ashgabat, Turkmenistan: 12p per litre -Ccar drivers are entitled to 120 litres free per month.
- Manama, Bahrain: 13p per litre – 60% of the government’s revenue comes from oil production.
- Kuwait City, Kuwait: 14p per litre – Petrol is subsidized by the government.
- Doha, Qatar: 15p per litre – Citizens have the world’s 2nd highest income and the 7th lowest petrol price.
- Cairo, Egypt: 19p per litre – The future of the price per litre is uncertain due to recent instability in the country. It remains to be seen how the new government deals with the situation.
- Muscat, Oman: 20 pence per litre – Daily production of 600,000 barrels, meaning the government can offer lower prices to its citizens.
- Algiers, Algeria: 20 pence per litre – 60% of the country’s income derives from its oil production.