GPP Articles


Retail fuel prices

Understanding the price gap between gasoline and diesel fuel
According to our data set of 161 countries, gasoline is more expensive than diesel fuel in 84% of all countries. On average, diesel is 9,84% cheaper but the difference varies considerably across countries as well as within countries over time. Here we discuss several factors...
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Gasoline affordability around the world
The chart shows the cost of filling a 40-liter tank of gasoline as percent of monthly income. For example, 10 percent in some countries means that it takes 10 percent of the average monthly income per person to fill a tank of gas. The chart uses our latest more information
Historical chart: WTI and U.S. fuel prices over time
The American retail market for gasoline and diesel fuel is liberalized with plenty of different gas station chains and brands. Therefore, in general prices at the pump closely follow the dynamics in the price of crude oil. On the chart below, we show how changes in West Texas...
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Gasoline prices in the Balkan countries
The Balkan Peninsula represents a colorful puzzle of countries with many common historical traits and very different present political and economic conditions. From wealthy Slovenia, a former Yugoslav republic and now an EU, OECD and NATO member, to Turkey with its booming...
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Fuel prices in Europe since the start of the pandemic
The pandemic that started in 2020 brought one of the most volatile periods in energy markets. Economic distress reduced energy demand drastically and lowered gasoline and diesel prices. The post-pandemic rebound had the opposite effect. On the chart are the monthly average...
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Gasoline consumption as percent of income
The chart shows the percent of income spent on gasoline in various countries. In countries with a low percent, we have some combination of limited gasoline consumption, low gasoline price and high income. The chart uses our latest gasoline price more information
World gasoline prices compared to the USA
The chart shows the price of gasoline in countries around the world as percent of the price of gasoline in the United States. A positive percent means that prices in a particular country are higher than in the U.S. and a negative number means that they are lower. The...
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Volatility of gasoline prices over time
The chart shows the coefficient of variation of gasoline prices for each country during the last 52 weeks (roughly one year). The numbers are automatically recalculated each week using the
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Correlation of oil prices and gasoline prices
The chart on this page shows the correlation of retail gasoline prices with world oil prices. The idea is to see to what extent changes to oil prices carry over to changes in gasoline prices in various countries. We use weekly data for 52 weeks ending with the latest data...
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Gasoline and diesel prices in groups of countries
The table shows the average prices for gasoline and diesel fuel by country group. The numbers are automatically recalculated using the latest
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Impact of the recent oil price increase on drivers
by Neven Valev, October 3, 2023 The thirty percent increase in oil prices in the last three months has pushed up the world average gasoline price by 0.07 USD from 1.23 USD per liter to 1.30 USD per liter. The world average diesel price increased by even more - 0.14 USD -...
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Crude oil prices

Crude oil prices and global gasoline prices
The retail gasoline price is formed by four basic elements: the crude oil price, refining costs, distribution costs, and taxes. The share of each element in the retail price varies across countries. The production and distribution costs and, especially, the taxes are...
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How oil prices affects U.S. gasoline prices
To answer that question, we use weekly observations of U.S. retail gasoline prices from the US Energy Information Agency. The retail price data are matched with weekly price data for West Texas Intermediate (WTI) and Brent. We calculated the percent changes in the prices...
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What is a crude oil benchmark?
Petroleum derivatives cover around 34% of the energy consumed in the world, according to
calculations by the US Energy Information Administration. This simple...
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Chart: Historical prices of crude oil (1861 - 2014)
(Published June 22, 2015) In its early days, the oil industry did not have the same economic and political significance as today. In other words, crude oil prices were far less important to the economy. Nevertheless, one of the best ways to trace the history of the oil...
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The pricing of different oil markers
The chart shows the price of Brent, WTI and the OPEC basket. The three series are highly correlated but they are not identical. For example, U.S. crude oil production has expanded rapidly in the last few decades pushing down WTI prices below the international Brent and OPEC...
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Fuel market taxes and regulations

Gasoline price subsidies
(September 13, 2016) The gasoline prices in quite a few countries around the world are substantially below market levels. What are these countries and by how much do they subsidize retail gasoline? To make that calculation, we started by estimating what would gasoline cost...
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Fuel market regulations around the world
The extent of state intervention in the energy markets differs considerably across countries. There are various forms of fuel market organization and methods of fuel pricing. Although each country has specific fuel market characteristics, three main methods for retail fuel...
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Chart: Breakdown of gasoline prices
(published April 6, 2015) Although most countries have access to international crude oil markets (with prices set against recognized benchmarks), what end-consumers pay for petroleum products varies substantially across countries and regions. One factor are the refining...
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Fuel supply and demand

Breakdown of oil consumption by sector
(Published October 7, 2015) It is widely known that crude oil has many applications – in industrial, energy, and chemical products, in agriculture, for shipping and for personal and business travels, to name a few. Some sectors, however, demonstrate unquenchable thirst...
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Regional comparisons

Variation of gasoline prices within countries
Every week we at publish average prices of gasoline, diesel and LPG in over 100 countries. Where governments set uniform retail prices for the entire country, these are the rates paid at the pump and the rates we display. In contrast, where fuel markets...
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Cars & Driving

Oil prices and the fuel efficiency of new cars
(October 11, 2016) In the 1990's, the average fuel consumption of new cars sold in the U.S. stayed stable at about 8–8.5 liters per 100 km. During that period the price of Brent oil was relatively low and stable. Then, around year 2000 it started a long upward trend....
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Fuel price outlook

Oil price forecast and outlook
You need a forecast of crude oil prices. Where do you look? Our suggestion is to start with the U.S. Energy Information Administration forecast numbers, then check if those seem consistent with the NYMEX futures prices, do a media search on forecasts from investment banks and...
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Crude oil market

What is driving crude oil prices
The price of crude oil reflects the delicate equilibrium between supply and demand factors that are at constant interplay on world markets. In classic economic terms, supply side actors (oil-extracting countries and companies) are willing to pump out more petroleum with the...
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How electricity prices vary with consumption
The table shows how the electricity rates per kWh vary with consumption using data from 2019. The index is defined as: Index = Electricity rates at high levels of electricity consumption (two times higher than the average for a typical household) / Electricity rates at low...
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Electricity prices in groups of countries
The table shows the average prices for gasoline and diesel fuel by country group. The numbers are automatically recalculated using the latest electricity prices. The household electricity rates are based on the average annual household electricity consumption in each country....
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Electricity price analytics
Electricity price as percent of the world/continent average price Values greater than 100 mean that the electricity prices in that country are higher than the world/continent average. For example, 127% means that prices are 27 percent higher than the world/continent...
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