Nigeria is Number 8
Which country has highest petrol price in world?
The most expensive petrol in the world is currently in Hong Kong, with prices costing on average £2.449p per lite. Here is the top 10 most expensive petrol prices in the world per litre: Hong Kong – £2.44
Petrol Prices
In the UK, petrol prices never seem to go down, do they? It’s therefore commonplace that we have become accustomed to paying a considerable amount for our petrol. But have you ever wondered how much you would pay for petrol in other countries around the world?
Using data from globalpetrolprices.com we’ve compared just how much it would cost to fill your car from empty in another country. These include ‘The Top 10 Cheapest Petrol Countries’, along with some select countries for comparison, along with ‘European Petrol Prices’ too. Some results are properly surprising, so let’s take a look at the findings…
Top 10 Cheapest Petrol Countries
10 Cheapest Petrol Countries
Here we see the Top 10 countries that pay the least amount of money for their petrol. Venezuela is the world’s cheapest country to buy petrol, where amazingly it costs just 2 pence (GBP) a litre.
This is because it’s home to some of the biggest oil reserves in the world. But it’s also a country where income is very low too. You will also notice that oil-rich middle Eastern countries are amongst the cheapest places in the world to buy petrol.
The 10 Countries with the Cheapest Gas Prices
Economically and politically, from the local to international level, gas prices play a big role in everyday life. That role is especially significant for the transportation industry. Have you ever wondered what are the cheapest gas prices by country?
The average truck in a fleet can drive up to 120,000 miles every year. Naturally, a machine that travels that far requires a lot of fuel. In 2016 alone, the trucking industry burned through 54.9 billion gallons of diesel fuel and standard gasoline—it goes without saying, then, that the price per gallon of gas has a gigantic sway on the success of the transportation industry.
Cheapest Gas Price by Country in 2022
With the price of diesel and standard gasoline steadily rising every week, everybody in the American transportation industry is feeling it. But, just how cheap is our gas, compared to other countries? It might surprise you to see just how expensive it is for some countries to drive, and how cheap it is for others.
Here are the top ten countries with the cheapest gas prices, according to Global Petrol Prices :
1. Venezuela
Venezuela, while overall a rather impoverished nation, is rich in oil reserves and fossil fuels, and uses that particular wealth to provide their people with virtually free gasoline. Yeah, it is strange to think about, isn’t it? But it is true. Technically, the price per gallon at the Venezuelan pumps is $ 0.06 —meaning that it would cost pennies to fill up a rig. Sounds like a fleet owner’s dream.
2. Libya
The oil-rich North African country of Libya comes in at #2 when it comes to cheap gas. Currently, a gallon of fuel will set you back just $0.11.
3. Iran
Another oil-rich country- clearly, there is a trend. Logically, the countries with the most oil reserves pay the least. The Iranians, with huge oil reserves of their own, charge $0.20 per gallon.
4. Algeria
Algeria ranks #4 for cheap gas, even though its residents pay more than ten times as much as its neighbor to the west, Libya. A gallon of gas in Algeria comes in at $1.24.
5. Kuwait
An oil-rich country whose GDP is bolstered by their fuel exports. The Kuwaitis pay $1.28 per gallon.
6. Angola
Another African nation comes in at #6, with a gallon of fuel costing $1.39.
7. Turkmenistan
Turkmenistan makes it to the list with gasoline priced at $1.62 per gallon.
8. Nigeria
At Nigerian pumps, you pay $1.65 per gallon. Still, despite the low price, with the low average income in Nigeria Less Than a Dollar a Day For Over 80percent of The Population, it is considered quite expensive to fill up.
9. Malaysia
Malaysia is in at number 9 with a price of $1.67 per gallon.
10. Kazakhstan
Kazakhstan comes in with fuel costing $1.69 per gallon. Very Nice!
The United States… #47
The U.S. average gas price is $3.99 per gallon. And, while Americans are 47th on the list of sheer prices, when you factor in our country’s high-income levels and wealth relative to this price, the United States hast he fourth-highest gasoline affordability rating on the globe (that is, one gallon of gas costs only a tiny fraction of our average daily income).
And just in case you were wondering, the countries with the most expensive gas prices are generally in Europe, with Denmark and Norway all charging over $7.50 per gallon. Hong Kong tops the list, though, at a whopping $11.13 per gallon!
The rising prices of fuel can be a challenge for fleet owners. So why not find more ways to be as economical as possible?
Consider Did you know that factoring companies offer fuel cards for trucking companies in addition to funding? Consider trucking invoice factoring. Learn how you can save more on your fuel costs by partnering with a factoring company
European Petrol Prices
As a bonus, we have created an extra infographic using the data from globalpetrolprices.com to show the 42 European countries, and where they rank for the price of their petrol (per litre).
Despite our thoughts that we pay a lot for our petrol in the UK, we are not the most expensive. We actually sit in 31st position, meaning 11 other countries pay more than us for their petrol. These include countries such as Germany, Portugal, Finland, Denmark and the Netherlands.
The real question everyone wants to know is how much would it cost to fill up some of the UK’s most popular or sought-after cars in some of the world’s cheapest countries for petrol? We have also included a few of the most expensive countries to buy petrol in, as a comparison. Let’s begin with the UK’s best-selling car…
Toyota Camry World
The Toyota Camry is the Nigeria’s best-selling car, after stealing the crown from Mercedes. In Nigeria, from empty it would cost approximately 8 To Ten Thousand Naira ( about Ten Dollars ) to fill a Toyota Camry 2009 xle V6 . Meanwhile, in Venezuela it would only cost just 3 – Five Thousand Naira , and no, unbelievably that’s not a typo.
Even if you went to somewhere like Argentina it would only cost £31.20 to fill up.
TOP Highest Prices From Last up
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However, if you filled your Fiesta up in Hong Kong, the most expensive country for petrol, it would cost you a staggering £88.
Range Rover
What about the iconic Range Rover? As these legendary off-road kings aren’t exactly cheap to fill in the first place. In the UK to fill the 104-litre tank would cost just over of £171. Whereas in Venezuela you’d still be able to fill one up for just £2.10.
Or how about filling the Range Rover in the USA – where they love their trucks and SUVs. Not that long ago you could fill one for about £50, today its just shy of £100. If you had a Range Rover in Hong Kong however, it would cost a wallet-emptying £231 to fill.
Range Rover Europe
In some European countries, a Range Rover is like filling up a small supermini, with Russia seeing change out of £50, whilst those in the Netherlands will pay over three times as much.
Porsche 911
Finally, how about some exotic stuff? Such as the most iconic sports car of all time, in the form of the Porsche 911. Fill one up using regular unleaded (although a performance fuel would probably be best if we’re honest) in the UK and it would cost £104.32 to fill its 64 litre tank.
Own a 911 in Venezuela and unbelievably it would only cost you less than £1.28 to fill up.
Porsche 911 Europe
Take these cars elsewhere and you could be paying way less or way more depending on location. How about Turkey? Fill the Porsche and it’s going to cost you £65.92 which isn’t bad for a sports car icon, and even in the UK we’d be paying just under £105, which isn’t bad considering the performance you get, but you’d be back at the petrol station in no time with such a special, yet thirsty car like this.
Inspired?
Find this article interesting? Perhaps you’d like to trim your fuel costs after reading this article? Why not click the article below regarding our pick of the ‘Best Used Electric Cars’ in Nigeria to start your electric car journey. Or if you’d prefer to search all of our used cars, or new cars, there is a link for those too.
Or perhaps you fancy a new or used Corsa, or how about a used Lexus ? Discover your next new or used car with our partners on www.cardeals.com.ng
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