Top 10 countries with the cheapest gasoline in the world

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 evidenced 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.

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 processing of oil and gas, which played a certain role in setting fuel prices.

9. Russia | The price of 1 liter is $0,72

Russia, as statistics show, sells not the most expensive gasoline in the world. The cost per liter of AI 95 is on average $0,72. In Russia, unlike most European countries, the dynamics of gasoline prices traditionally runs counter to the dynamics of oil prices. During 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 results of the rating, as of the beginning of 2019, along with other states of the Customs Union, fuel in Russia remains the cheapest in the European part of the world. But, given the income of the population, gasoline in Russia is the least affordable in Europe. In terms of fuel availability, Russia ranks 33rd. 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 gasoline per year, which is one of the highest rates in the world.

8. Pakistan | The price of 1 liter is $0,71

Pakistan is one of the cheapest countries with low gasoline 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. The economy of Pakistan rests on the export of oil and gas, which explains the relatively low cost of fuel.

7. UAE | The price of 1 liter is $0,59

В United Arab Emirates very cheap gasoline is sold with a price per liter of $ 0,59. Judging by the general information, the cost of oil production is about 2-5 dollars per barrel. And at the same time, it should be noted that this is a good “dark” oil of the Brand brand, and not a “light or light” oil of the WTI brand. Given such a cost and quality of the extracted “black gold”, it goes without saying that it can be sold at low prices and processed into gasoline profitably. In addition, the state ranks 7th in terms of oil reserves in the world. The UAE ranks 17th in the world in terms of natural gas reserves.

Thanks to the economic policy of the Government of the United Arab Emirates, the country has very low gasoline prices.

6. Saudi Arabia | The price of 1 liter is $0,56

Saudi Arabia has the cheapest gasoline, both among 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. Saudi Arabia’s budget is 70 percent of oil revenues. Thanks to this, government authorities can not impose heavy taxes on producers of gasoline and diesel fuel.

In the context of constantly rising prices in the market King of Saudi Arabia regularly reduces the cost of gasoline domesticallyhelping residents save a lot.

5. Malaysia | Price 1 liter $0,50

Malaysia is one of the ten countries with the lowest fuel prices. The cost of a liter of gasoline does not exceed $0,50 per liter. Small fuel prices are explained by their own rather large oil reserves.

4. Nigeria | Price 1 liter $0,40

Nigeria has the cheapest gasoline in the world. For a liter of fuel, a local resident spends about 0,40 US dollars. This is because 75% of Nigeria’s government revenue comes from oil and is 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. Kuwait is considered one of the richest small countries in the world with huge oil reserves. It ranks 5th in terms of oil reserves on a global scale. 95 percent of all Kuwait’s income comes from the sale of oil. The Arab state ranks 11th in the world as the richest country.

2. Iran | Price 1 liter $0,29

В Iran sells one of the cheapest gasolines in the world. As you know, there is a lot of oil in Iran, therefore, already at the age of eight, people here get on scooters, and they go to the store only by car. In a word, an extremely motorized country. For diesel fuel, locals have to pay a meager amount of 0,29 dollars per liter. Gas stations are rare here, and diesel fuel can be found far from every gas station, columns with it are taken out of the territory. “Heavy fuel” refuel only trucks and buses, passenger cars run exclusively on gasoline.

1. Venezuela | The price of 1 liter is $0,01

Venezuela supplies the market with the cheapest gasoline in the world with an average price of $0,01 per litre. For 17 years, gasoline prices in the country have not risen, while in many countries they have increased 4-5 times. The government of this country artificially maintains such a low cost of gasoline. Even in some conflict situations, everything is decided in favor of citizens who believe that if the country produces large quantities of oil, then the price of gasoline should be cheap. At the gas station, drivers sometimes tip more than they pay for a full tank. Every resident in Venezuela has his own car and drives it every day.

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 buy it on the market. The price of gasoline is also affected by financial crises, tax increases, as well as the presence or absence of own enterprises for the processing of petroleum products.

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 at a low price inside the country and took it abroad to sell it at a higher price.

Much also depends on the internal 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 for citizens.