Gasoline prices:

Gasoline prices, liter

Gasoline prices, 23-May-2016: The average price of gasoline around the world is 0.99 U.S. Dollar per liter. However, there is substantial difference in these prices among countries. As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. One notable exception is the U.S. which is an economically advanced country but has low gas prices. The differences in prices across countries are due to the various taxes and subsidies for gasoline.

All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of gasoline is different. In some cases, like Venezuela, the government even subsidizes gasoline and therefore people there pay close to nothing to drive their cars.

On the chart we indicate with a * the countries for which we have official and up-to-date information about gasoline prices. For the remaining countries, we use older price series as a benchmark and we update using current exchange rates and the change in global petrol prices.