Weekly global fuel price review (March 21, 2017)

During the past week, the crude oil prices remained relatively low with a Brent oil price around 52 USD per barrel. However, the fuel price decreases around the world were not enough to push down the world average gasoline price and it remained at 1 USD per liter for an eighth consecutive week. The world average diesel price even marked a slight weekly increase reaching 0.90 USD per liter.

On a regional level, the European average gasoline price for the past week was 1.31 USD per liter, marking a decrease of 1.1%. Gasoline prices also went down by 0.6% in Canada, by 0.4% in Asia and by 0.2% in the USA. In South America and Australia, the gasoline prices increased by 0.1% and 1.5% respectively. The regional average gasoline price for Africa remained unchanged.

Looking at individual countries, the gasoline price changes varied from -3.9% (Croatia and Montenegro) to 6.2% (Jamaica). There was an increase in 10 of the 104 reviewed countries, no change in 43 countries, and a decrease in 51 countries. In Croatia, Montenegro, the Philippines, and Belgium gasoline prices decreased more than 3%. Gasoline became more expensive by more than 1% in Bulgaria, Jamaica, Australia, and Peru. The largest weekly change in the gasoline retail prices was observed in Jamaica. The fuel prices in the island country went up by more than 6% due to an increase in the Special Consumption Tax (SCT) on fuel.

World average gasoline and diesel prices

Weighted average of gasoline and diesel prices in 100 countries that consume over 90 percent of the world oil products. The weights are the countries' share of the global petroleum products consumption.


Changes in fuel prices, in local currencies

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Countries Gasoline Diesel
Current price
local currency
Change
one week
Change
three months
Current price
local currency
Change
one week
Change
three months
Andorra 1.10 -0.9% 2.8% 0.94 -1.1% 2.4%
Argentina 18.73 0.0% 8.0% 17.10 0.0% 8.0%
Aruba 1.79 0.0% 2.1% 1.48 0.0% 2.4%
Australia 1.31 1.5% 4.2% 1.30 -0.4% 4.9%
Austria 1.18 -1.7% 2.0% 1.12 -1.1% 0.7%
Barbados 2.96 0.0% 1.7% 2.21 0.0% 4.2%
Belarus 1.21 0.8% 1.7% 1.25 0.8% 1.6%
Belgium 1.34 -3.5% 0.3% 1.25 -1.2% 0.6%
Bolivia 3.74 0.0% 0.0% 3.72 0.0% 0.0%
Bosnia and Herzegovina 1.79 -0.1% 1.0% 1.79 -0.2% 2.3%
Brazil 3.68 -1.4% -0.4% 3.05 -1.1% 2.1%
Bulgaria 2.04 1.8% 3.5% 2.02 -0.5% 4.3%
Cambodia 3692.86 0.0% 11.2% 3278.57 0.0% 13.6%
Canada 1.23 -0.6% 5.2% 1.09 -1.4% 2.2%
Cape Verde 116.30 0.0% 7.4% 93.00 0.0% 7.4%
Cayman Islands 1.01 0.0% 2.1% 0.93 0.0% 2.7%
Chile 762.60 0.5% 2.9% 505.80 0.4% 3.8%
China 6.88 -1.0% 6.7% 6.10 -1.1% 7.4%
Colombia 2126.26 0.0% 3.4% 2006.24 0.0% 3.2%
Costa Rica 598.00 0.8% 6.4% 476.00 -1.7% 11.5%
Croatia 9.35 -3.9% -1.2% 8.62 -3.5% -0.1%
Cyprus 1.23 -1.1% 4.9% 1.22 -1.0% 5.3%
Czech Republic 31.02 -0.3% 4.8% 30.39 -0.4% 5.1%
Denmark 11.01 -2.7% 0.0% 9.35 -3.1% -0.9%
Dominican Republic 55.69 -0.9% 3.9% 39.10 -3.3% -0.7%
Egypt 6.25 0.0% 0.0% 2.35 0.0% 0.0%
El Salvador 0.81 0.5% 7.8% 0.67 -0.6% 9.2%
Estonia 1.15 -2.5% 6.5% 1.15 -3.2% 5.3%
Fiji 1.83 0.0% 6.4% 1.47 0.0% 5.0%
Finland 1.45 -1.4% 2.8% 1.32 -1.4% 1.1%
France 1.38 -1.6% 1.5% 1.24 -1.9% 3.1%
Georgia 2.24 0.0% 19.4% 2.10 -0.2% 19.0%
Germany 1.35 -0.9% 1.2% 1.15 -1.5% 1.1%
Ghana 4.20 -0.6% 16.8% 4.17 -0.9% 15.8%
Greece 1.54 -1.0% 5.8% 1.29 -0.8% 12.7%
Guatemala 6.17 -2.0% 0.1% 4.87 -2.0% -1.9%
Honduras 23.05 -0.7% 4.0% 18.75 -1.0% 4.4%
Hong Kong 14.84 -1.0% 0.7% 11.55 -1.3% 1.3%
Hungary 356.30 -2.1% -0.5% 365.80 -2.8% -1.4%
Iceland 197.40 -1.0% 1.6% 189.80 -0.7% 1.4%
India 74.17 0.0% 8.7% 61.92 0.0% 8.8%
Indonesia 8300.00 0.0% 4.8% 9016.67 0.0% 4.2%
Ireland 1.40 0.0% 5.3% 1.27 0.0% 4.1%
Israel 6.29 0.0% 2.3% 5.79 0.0% 2.5%
Italy 1.55 -0.4% 4.7% 1.40 -0.1% 5.2%
Ivory Coast 570.00 0.0% 0.0% 570.00 0.0% 0.0%
Jamaica 128.09 6.2% 2.7% 124.48 7.5% 8.8%
Japan 130.50 0.6% 5.6% 107.80 0.6% 6.3%
Jordan 0.88 0.0% 16.6% 0.48 0.0% 10.3%
Kenya 103.05 0.8% 6.3% 92.54 1.3% 9.8%
Kuwait 0.11 0.0% 0.0% 0.11 0.0% 15.8%
Kyrgyzstan 41.70 0.0% 3.0% 37.50 0.0% 2.7%
Latvia 1.15 -0.4% 6.0% 1.06 -0.5% 4.5%
Lebanon 1170.00 -1.3% 8.8% 750.00 -0.7% 11.9%
Lithuania 1.15 0.0% 5.4% 1.06 0.0% 4.4%
Luxembourg 1.14 -2.2% -1.3% 0.99 -2.2% -2.2%
Macedonia 65.00 -3.0% 0.8% 52.00 -3.7% 1.0%
Malawi 824.70 0.0% 0.0% 815.80 0.0% 0.0%
Malaysia 2.30 0.0% 21.1% 2.20 0.0% 18.9%
Malta 1.31 0.0% 3.1% 1.18 0.0% 3.5%
Mauritius 42.70 0.0% 9.9% 32.45 0.0% 10.0%
Mayotte 1.49 0.0% 6.4% 1.21 0.0% 7.1%
Mexico 17.62 -1.0% 18.9% 16.89 -0.7% 15.4%
Moldova 17.76 0.0% 9.3% 15.57 0.0% 10.1%
Montenegro 1.24 -3.9% 9.7% 1.12 -3.4% 12.0%
Morocco 10.29 -0.0% 2.8% 8.84 0.0% 4.6%
Nepal 101.50 0.0% 4.6% 77.50 0.0% 6.2%
Netherlands 1.56 -1.0% 1.8% 1.24 -0.6% 1.5%
New Zealand 2.13 -1.4% 2.4% 1.34 -2.2% 3.9%
Nicaragua 28.02 -0.6% 5.1% 23.31 -1.8% 6.2%
Norway 15.62 -1.1% 3.9% 14.55 -1.6% 4.8%
Oman 0.20 0.0% 12.5% 0.21 0.0% 17.5%
Pakistan 73.00 0.0% 10.2% 82.00 0.0% 9.0%
Panama 0.75 0.0% 6.4% 0.62 0.0% 5.4%
Peru 3.27 1.2% 2.1% 2.64 0.0% 4.2%
Philippines 44.94 -3.6% 7.8% 31.58 -2.1% 10.5%
Poland 4.69 -0.8% 0.9% 4.56 -0.7% 0.4%
Portugal 1.46 -1.6% 2.8% 1.25 -1.8% 4.8%
Qatar 1.70 0.0% 13.3% 1.55 0.0% 10.7%
Romania 4.68 -1.8% -8.6% 4.63 -2.5% -8.4%
Russia 38.80 -0.1% 2.4% 37.00 -0.4% 5.1%
Serbia 143.90 0.0% 7.1% 150.90 0.0% 6.3%
Singapore 1.99 -0.9% 1.0% 1.39 -1.1% 13.5%
Slovakia 1.31 -0.9% 5.3% 1.17 -0.3% 6.5%
Slovenia 1.28 -2.1% 2.7% 1.19 -0.9% 3.7%
South Africa 13.30 0.0% 5.5% 13.18 0.0% 4.6%
South Korea 1505.55 -0.4% 4.3% 1295.94 -0.4% 4.6%
Spain 1.21 -1.0% 0.7% 1.10 -1.3% 0.6%
Sri Lanka 128.00 0.0% 0.0% 95.00 0.0% 0.0%
Swaziland 11.80 0.0% 7.3% 11.70 0.0% 7.3%
Sweden 13.85 -0.5% 0.4% 13.70 -1.5% -0.9%
Switzerland 1.44 -0.7% 3.6% 1.49 -0.3% 2.6%
Taiwan 25.99 -1.1% 4.0% 22.04 -1.9% 4.7%
Tanzania 2060.00 0.0% 9.0% 1913.00 0.0% 6.4%
Thailand 33.86 -1.5% -0.4% 25.49 -2.3% 0.2%
Turkey 5.17 -1.5% 1.3% 4.52 -1.7% 1.1%
Uganda 3500.00 0.0% 6.1% 3000.00 0.0% 9.1%
Ukraine 24.55 0.0% 6.1% 22.13 -0.0% 7.2%
United Arab Emirates 1.92 0.0% 13.6% 2.02 0.0% 11.6%
United Kingdom 1.19 -0.8% 3.6% 1.21 -0.8% 3.1%
Uruguay 45.90 0.0% 8.0% 41.80 0.0% 8.0%
USA 0.68 -0.1% 4.1% 0.66 -0.5% 3.4%
Vietnam 19055.00 0.0% 8.6% 14580.00 0.0% 14.0%
Zambia 12.50 0.0% -8.8% 10.72 0.0% -6.0%




Changes in fuel prices, in local currencies

Countries Gasoline
Current price
local currency
Change
one week
Change
three months
Andorra 1.10 -0.9% 2.8%
Argentina 18.73 0.0% 8.0%
Aruba 1.79 0.0% 2.1%
Australia 1.31 1.5% 4.2%
Austria 1.18 -1.7% 2.0%
Barbados 2.96 0.0% 1.7%
Belarus 1.21 0.8% 1.7%
Belgium 1.34 -3.5% 0.3%
Bolivia 3.74 0.0% 0.0%
Bosnia and Herzegovina 1.79 -0.1% 1.0%
Brazil 3.68 -1.4% -0.4%
Bulgaria 2.04 1.8% 3.5%
Cambodia 3692.86 0.0% 11.2%
Canada 1.23 -0.6% 5.2%
Cape Verde 116.30 0.0% 7.4%
Cayman Islands 1.01 0.0% 2.1%
Chile 762.60 0.5% 2.9%
China 6.88 -1.0% 6.7%
Colombia 2126.26 0.0% 3.4%
Costa Rica 598.00 0.8% 6.4%
Croatia 9.35 -3.9% -1.2%
Cyprus 1.23 -1.1% 4.9%
Czech Republic 31.02 -0.3% 4.8%
Denmark 11.01 -2.7% 0.0%
Dominican Republic 55.69 -0.9% 3.9%
Egypt 6.25 0.0% 0.0%
El Salvador 0.81 0.5% 7.8%
Estonia 1.15 -2.5% 6.5%
Fiji 1.83 0.0% 6.4%
Finland 1.45 -1.4% 2.8%
France 1.38 -1.6% 1.5%
Georgia 2.24 0.0% 19.4%
Germany 1.35 -0.9% 1.2%
Ghana 4.20 -0.6% 16.8%
Greece 1.54 -1.0% 5.8%
Guatemala 6.17 -2.0% 0.1%
Honduras 23.05 -0.7% 4.0%
Hong Kong 14.84 -1.0% 0.7%
Hungary 356.30 -2.1% -0.5%
Iceland 197.40 -1.0% 1.6%
India 74.17 0.0% 8.7%
Indonesia 8300.00 0.0% 4.8%
Ireland 1.40 0.0% 5.3%
Israel 6.29 0.0% 2.3%
Italy 1.55 -0.4% 4.7%
Ivory Coast 570.00 0.0% 0.0%
Jamaica 128.09 6.2% 2.7%
Japan 130.50 0.6% 5.6%
Jordan 0.88 0.0% 16.6%
Kenya 103.05 0.8% 6.3%
Kuwait 0.11 0.0% 0.0%
Kyrgyzstan 41.70 0.0% 3.0%
Latvia 1.15 -0.4% 6.0%
Lebanon 1170.00 -1.3% 8.8%
Lithuania 1.15 0.0% 5.4%
Luxembourg 1.14 -2.2% -1.3%
Macedonia 65.00 -3.0% 0.8%
Malawi 824.70 0.0% 0.0%
Malaysia 2.30 0.0% 21.1%
Malta 1.31 0.0% 3.1%
Mauritius 42.70 0.0% 9.9%
Mayotte 1.49 0.0% 6.4%
Mexico 17.62 -1.0% 18.9%
Moldova 17.76 0.0% 9.3%
Montenegro 1.24 -3.9% 9.7%
Morocco 10.29 -0.0% 2.8%
Nepal 101.50 0.0% 4.6%
Netherlands 1.56 -1.0% 1.8%
New Zealand 2.13 -1.4% 2.4%
Nicaragua 28.02 -0.6% 5.1%
Norway 15.62 -1.1% 3.9%
Oman 0.20 0.0% 12.5%
Pakistan 73.00 0.0% 10.2%
Panama 0.75 0.0% 6.4%
Peru 3.27 1.2% 2.1%
Philippines 44.94 -3.6% 7.8%
Poland 4.69 -0.8% 0.9%
Portugal 1.46 -1.6% 2.8%
Qatar 1.70 0.0% 13.3%
Romania 4.68 -1.8% -8.6%
Russia 38.80 -0.1% 2.4%
Serbia 143.90 0.0% 7.1%
Singapore 1.99 -0.9% 1.0%
Slovakia 1.31 -0.9% 5.3%
Slovenia 1.28 -2.1% 2.7%
South Africa 13.30 0.0% 5.5%
South Korea 1505.55 -0.4% 4.3%
Spain 1.21 -1.0% 0.7%
Sri Lanka 128.00 0.0% 0.0%
Swaziland 11.80 0.0% 7.3%
Sweden 13.85 -0.5% 0.4%
Switzerland 1.44 -0.7% 3.6%
Taiwan 25.99 -1.1% 4.0%
Tanzania 2060.00 0.0% 9.0%
Thailand 33.86 -1.5% -0.4%
Turkey 5.17 -1.5% 1.3%
Uganda 3500.00 0.0% 6.1%
Ukraine 24.55 0.0% 6.1%
United Arab Emirates 1.92 0.0% 13.6%
United Kingdom 1.19 -0.8% 3.6%
Uruguay 45.90 0.0% 8.0%
USA 0.68 -0.1% 4.1%
Vietnam 19055.00 0.0% 8.6%
Zambia 12.50 0.0% -8.8%




Countries Diesel
Current price
local currency
Change
one week
Change
three months
Andorra 0.94 -1.1% 2.4%
Argentina 17.10 0.0% 8.0%
Aruba 1.48 0.0% 2.4%
Australia 1.30 -0.4% 4.9%
Austria 1.12 -1.1% 0.7%
Barbados 2.21 0.0% 4.2%
Belarus 1.25 0.8% 1.6%
Belgium 1.25 -1.2% 0.6%
Bolivia 3.72 0.0% 0.0%
Bosnia and Herzegovina 1.79 -0.2% 2.3%
Brazil 3.05 -1.1% 2.1%
Bulgaria 2.02 -0.5% 4.3%
Cambodia 3278.57 0.0% 13.6%
Canada 1.09 -1.4% 2.2%
Cape Verde 93.00 0.0% 7.4%
Cayman Islands 0.93 0.0% 2.7%
Chile 505.80 0.4% 3.8%
China 6.10 -1.1% 7.4%
Colombia 2006.24 0.0% 3.2%
Costa Rica 476.00 -1.7% 11.5%
Croatia 8.62 -3.5% -0.1%
Cyprus 1.22 -1.0% 5.3%
Czech Republic 30.39 -0.4% 5.1%
Denmark 9.35 -3.1% -0.9%
Dominican Republic 39.10 -3.3% -0.7%
Egypt 2.35 0.0% 0.0%
El Salvador 0.67 -0.6% 9.2%
Estonia 1.15 -3.2% 5.3%
Fiji 1.47 0.0% 5.0%
Finland 1.32 -1.4% 1.1%
France 1.24 -1.9% 3.1%
Georgia 2.10 -0.2% 19.0%
Germany 1.15 -1.5% 1.1%
Ghana 4.17 -0.9% 15.8%
Greece 1.29 -0.8% 12.7%
Guatemala 4.87 -2.0% -1.9%
Honduras 18.75 -1.0% 4.4%
Hong Kong 11.55 -1.3% 1.3%
Hungary 365.80 -2.8% -1.4%
Iceland 189.80 -0.7% 1.4%
India 61.92 0.0% 8.8%
Indonesia 9016.67 0.0% 4.2%
Ireland 1.27 0.0% 4.1%
Israel 5.79 0.0% 2.5%
Italy 1.40 -0.1% 5.2%
Ivory Coast 570.00 0.0% 0.0%
Jamaica 124.48 7.5% 8.8%
Japan 107.80 0.6% 6.3%
Jordan 0.48 0.0% 10.3%
Kenya 92.54 1.3% 9.8%
Kuwait 0.11 0.0% 15.8%
Kyrgyzstan 37.50 0.0% 2.7%
Latvia 1.06 -0.5% 4.5%
Lebanon 750.00 -0.7% 11.9%
Lithuania 1.06 0.0% 4.4%
Luxembourg 0.99 -2.2% -2.2%
Macedonia 52.00 -3.7% 1.0%
Malawi 815.80 0.0% 0.0%
Malaysia 2.20 0.0% 18.9%
Malta 1.18 0.0% 3.5%
Mauritius 32.45 0.0% 10.0%
Mayotte 1.21 0.0% 7.1%
Mexico 16.89 -0.7% 15.4%
Moldova 15.57 0.0% 10.1%
Montenegro 1.12 -3.4% 12.0%
Morocco 8.84 0.0% 4.6%
Nepal 77.50 0.0% 6.2%
Netherlands 1.24 -0.6% 1.5%
New Zealand 1.34 -2.2% 3.9%
Nicaragua 23.31 -1.8% 6.2%
Norway 14.55 -1.6% 4.8%
Oman 0.21 0.0% 17.5%
Pakistan 82.00 0.0% 9.0%
Panama 0.62 0.0% 5.4%
Peru 2.64 0.0% 4.2%
Philippines 31.58 -2.1% 10.5%
Poland 4.56 -0.7% 0.4%
Portugal 1.25 -1.8% 4.8%
Qatar 1.55 0.0% 10.7%
Romania 4.63 -2.5% -8.4%
Russia 37.00 -0.4% 5.1%
Serbia 150.90 0.0% 6.3%
Singapore 1.39 -1.1% 13.5%
Slovakia 1.17 -0.3% 6.5%
Slovenia 1.19 -0.9% 3.7%
South Africa 13.18 0.0% 4.6%
South Korea 1295.94 -0.4% 4.6%
Spain 1.10 -1.3% 0.6%
Sri Lanka 95.00 0.0% 0.0%
Swaziland 11.70 0.0% 7.3%
Sweden 13.70 -1.5% -0.9%
Switzerland 1.49 -0.3% 2.6%
Taiwan 22.04 -1.9% 4.7%
Tanzania 1913.00 0.0% 6.4%
Thailand 25.49 -2.3% 0.2%
Turkey 4.52 -1.7% 1.1%
Uganda 3000.00 0.0% 9.1%
Ukraine 22.13 -0.0% 7.2%
United Arab Emirates 2.02 0.0% 11.6%
United Kingdom 1.21 -0.8% 3.1%
Uruguay 41.80 0.0% 8.0%
USA 0.66 -0.5% 3.4%
Vietnam 14580.00 0.0% 14.0%
Zambia 10.72 0.0% -6.0%




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