Weekly global fuel price review (May 15, 2018)

During the past week, crude oil prices reached their highest level in three years. As a result, the world average retail prices of gasoline and diesel went up to 1.15 and 1.05 USD per liter, respectively.

The European average gasoline price was 1.51 USD per liter marking a weekly increase of 1.1%. Gasoline prices also went up by 0.4% in Asia, by 1.8% in the USA, and by 0.3% in Africa, Canada, and South America. In Australia, the regional average gasoline price decreased by 0.8%.

Looking at individual countries, the gasoline price changes varied from –0.8% (Australia) to 15.6% (Sri Lanka). There was an increase in 60 of the 108 reviewed countries, no change in 41 countries, and a decrease in only 8 countries: Finland, Jamaica, Mexico, Taiwan, the Dominican Republic, the Philippines, Lithuania, and Australia. Gasoline prices increased by more than 3% in Sri Lanka, Panama, Myanmar, and Aruba. The largest weekly fuel price change was observed in Sri Lanka where the government adjusted prices upwards following the IMF advise for subsidy cuts.


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


Countries Gasoline Diesel
Current price
local currency
Change
one week
Change
three months
Current price
local currency
Change
one week
Change
three months
Algeria 41.97 0.0% 0.0% 23.06 0.0% 0.0%
Andorra 1.18 2.0% 4.3% 1.04 2.7% 5.3%
Argentina 27.96 0.0% 10.7% 23.06 0.0% 2.2%
Aruba 2.03 3.6% 8.4% 1.72 4.5% 6.2%
Australia 1.45 -0.8% 6.2% 1.48 1.2% 6.5%
Austria 1.27 1.4% 4.7% 1.21 1.5% 5.1%
Barbados 3.40 0.0% 3.3% 2.61 0.0% -0.8%
Belarus 1.36 0.7% 7.1% 1.36 0.7% 5.4%
Belgium 1.46 1.0% 3.0% 1.44 2.0% 8.2%
Bolivia 3.74 0.0% 0.0% 3.72 0.0% 0.0%
Brazil 4.26 0.8% 0.9% 3.55 1.6% 4.6%
Bulgaria 2.11 1.3% 2.3% 2.10 1.6% 1.1%
Burma (Myanmar) 875.00 5.4% 2.9% 860.00 4.9% 6.2%
Cambodia 4242.86 0.0% 4.6% 3728.57 0.0% 4.0%
Canada 1.52 0.3% 8.8% 1.31 1.0% 2.8%
Cape Verde 124.50 0.0% 4.1% 101.50 0.0% 4.5%
Cayman Islands 1.06 1.0% 4.6% 0.96 1.5% 3.9%
Chile 809.20 0.7% 0.8% 569.20 0.7% 2.2%
China 7.57 0.0% 2.2% 6.76 0.0% 2.3%
Colombia 2303.85 0.0% -0.1% 2135.04 0.0% -0.2%
Costa Rica 662.00 0.0% 5.8% 540.00 0.0% 0.9%
Croatia 10.37 1.9% 5.6% 9.82 2.8% 6.4%
Cyprus 1.28 0.7% 3.3% 1.32 2.2% 5.0%
Czech Republic 31.81 0.7% 2.7% 30.92 0.7% 2.8%
Denmark 12.06 1.8% 7.2% 10.53 1.0% 11.4%
Dominican Republic 63.75 -0.4% 3.0% 48.74 0.5% 2.8%
Egypt 6.60 0.0% 0.0% 3.65 0.0% 0.0%
El Salvador 0.99 0.0% 6.7% 0.84 0.0% 3.7%
Estonia 1.34 2.8% 3.7% 1.27 1.3% 0.0%
Fiji 2.06 0.0% 1.5% 1.76 0.0% 2.9%
Finland 1.50 -0.1% 3.4% 1.34 0.1% 0.9%
France 1.54 1.7% 2.2% 1.46 1.5% 5.8%
Georgia 2.28 0.2% -0.5% 2.28 0.3% 0.4%
Germany 1.44 0.6% 4.5% 1.26 0.7% 7.4%
Ghana 4.72 0.0% 4.2% 4.82 0.0% 8.3%
Greece 1.61 1.0% 2.3% 1.38 1.2% 3.2%
Guatemala 7.36 0.0% 5.4% 5.95 -0.2% 2.8%
Honduras 25.98 0.8% 3.5% 21.94 1.3% 3.7%
Hong Kong 16.44 0.0% 2.2% 13.70 1.5% 5.0%
Hungary 382.40 0.8% 3.9% 388.30 0.5% 4.8%
Iceland 219.80 1.4% 4.3% 211.20 1.0% 3.9%
India 78.29 0.4% 2.1% 68.99 0.6% 3.3%
Indonesia 9266.67 0.0% 5.3% 10366.70 0.0% 9.3%
Ireland 1.43 2.1% 2.9% 1.32 1.5% 2.3%
Israel 6.67 0.0% 2.6% 6.17 0.0% 2.8%
Italy 1.59 0.5% 1.3% 1.47 0.5% 1.5%
Ivory Coast 610.00 1.7% 2.5% 610.00 1.7% 2.5%
Jamaica 157.76 -0.1% 2.9% 149.52 -0.1% 0.1%
Japan 143.70 0.6% 1.1% 121.40 0.5% 2.3%
Jordan 1.05 0.0% 5.0% 0.62 0.0% 8.8%
Kenya 109.17 0.3% 0.8% 100.74 0.8% 3.9%
Kuwait 0.11 0.0% 0.0% 0.12 0.0% 0.0%
Kyrgyzstan 45.00 0.7% 2.5% 43.30 0.7% 5.6%
Laos 10310.00 0.0% 3.0% 8300.00 0.0% 5.1%
Latvia 1.24 0.9% 1.1% 1.14 1.8% 0.5%
Lebanon 1375.00 1.5% 5.0% 965.00 1.6% 6.0%
Lithuania 1.09 -0.7% -4.1% 1.04 0.4% -1.4%
Luxembourg 1.26 1.9% 5.1% 1.11 2.7% 6.6%
Macedonia 71.50 2.1% 5.1% 63.00 1.6% 5.9%
Malawi 824.70 0.0% 0.0% 815.80 0.0% 0.0%
Malaysia 2.20 0.0% -4.8% 2.18 0.0% -6.8%
Malta 1.31 0.0% 0.0% 1.18 0.0% 0.0%
Mauritius 47.30 0.0% 0.0% 38.10 0.0% 0.0%
Mayotte 1.51 2.7% 2.7% 1.25 2.5% 1.6%
Mexico 19.94 -0.2% 5.2% 19.03 0.1% 6.0%
Moldova 18.80 0.0% 2.4% 16.74 0.0% 2.0%
Montenegro 1.27 0.0% -2.3% 1.20 0.0% 0.0%
Morocco 11.26 0.0% -5.4% 9.95 0.0% -0.5%
Nepal 108.00 0.0% 3.8% 90.00 0.0% 8.4%
Netherlands 1.64 0.0% 2.3% 1.33 0.2% 2.7%
New Zealand 2.31 2.6% 5.3% 1.52 3.0% 4.5%
Nicaragua 33.95 0.0% 6.4% 28.94 0.0% 4.3%
Norway 16.43 1.3% 3.2% 15.31 1.6% 3.1%
Oman 0.22 0.0% 1.8% 0.25 0.0% 0.4%
Pakistan 87.70 0.0% 3.8% 98.76 0.0% 3.1%
Panama 0.87 3.1% 5.4% 0.76 5.1% 2.4%
Peru 3.58 0.9% 0.7% 3.05 4.2% 3.5%
Philippines 55.37 -0.6% 5.6% 44.35 -0.7% 8.0%
Poland 4.92 0.8% 5.1% 4.85 1.3% 6.1%
Portugal 1.56 1.4% 3.2% 1.35 1.7% 2.8%
Qatar 2.00 0.0% 5.3% 2.00 0.0% 8.1%
Romania 5.61 1.5% 3.9% 5.68 1.5% 4.6%
Russia 43.15 1.8% 4.5% 41.92 2.0% 6.4%
Rwanda 1065.00 0.0% 2.2% 1048.00 0.0% 4.3%
Saint Lucia 3.01 2.4% 7.5% 3.00 3.1% 7.1%
Serbia 148.50 0.7% 3.9% 157.50 0.7% 4.0%
Sierra Leone 6000.00 0.0% 0.0% 6000.00 0.0% 0.0%
Singapore 2.17 2.2% 1.3% 1.64 3.0% 3.4%
Slovakia 1.37 1.0% 2.9% 1.24 1.1% 3.6%
Slovenia 1.35 1.8% 2.7% 1.30 2.0% 3.1%
South Africa 14.68 0.0% 5.8% 14.97 0.0% 5.1%
South Korea 1574.91 0.8% 0.7% 1374.85 1.0% 1.2%
Spain 1.31 1.7% 4.4% 1.21 1.9% 4.8%
Sri Lanka 148.00 15.6% 15.6% 109.00 14.7% 14.7%
Suriname 6.68 0.6% 2.8% 6.23 0.6% 1.1%
Sweden 15.82 0.9% 7.7% 15.74 0.7% 8.7%
Switzerland 1.60 0.4% 3.5% 1.69 0.4% 4.4%
Taiwan 29.49 -0.3% 3.2% 25.96 0.0% 4.0%
Tanzania 2227.00 0.0% 2.8% 2145.00 0.0% 6.3%
Thailand 36.42 1.7% 2.2% 28.89 2.1% 4.7%
Turkey 6.27 2.7% 8.0% 5.71 1.5% 10.5%
Uganda 3950.00 0.0% 8.2% 3450.00 0.0% 13.1%
Ukraine 29.12 0.1% -4.2% 26.91 0.1% -4.6%
United Arab Emirates 2.37 0.0% 5.3% 2.56 0.0% 2.8%
United Kingdom 1.25 0.8% 2.5% 1.28 0.9% 2.6%
Uruguay 50.40 0.0% 0.0% 40.40 0.0% 0.0%
USA 0.83 1.8% 9.2% 0.83 1.7% 4.4%
Vietnam 21217.50 2.0% 2.6% 17270.00 2.2% 7.2%
Zambia 13.75 0.0% 6.0% 12.01 0.0% 8.3%




Changes in fuel prices, in local currencies

Countries Gasoline
Current price
local currency
Change
one week
Change
three months
Algeria 41.97 0.0% 0.0%
Andorra 1.18 2.0% 4.3%
Argentina 27.96 0.0% 10.7%
Aruba 2.03 3.6% 8.4%
Australia 1.45 -0.8% 6.2%
Austria 1.27 1.4% 4.7%
Barbados 3.40 0.0% 3.3%
Belarus 1.36 0.7% 7.1%
Belgium 1.46 1.0% 3.0%
Bolivia 3.74 0.0% 0.0%
Brazil 4.26 0.8% 0.9%
Bulgaria 2.11 1.3% 2.3%
Burma (Myanmar) 875.00 5.4% 2.9%
Cambodia 4242.86 0.0% 4.6%
Canada 1.52 0.3% 8.8%
Cape Verde 124.50 0.0% 4.1%
Cayman Islands 1.06 1.0% 4.6%
Chile 809.20 0.7% 0.8%
China 7.57 0.0% 2.2%
Colombia 2303.85 0.0% -0.1%
Costa Rica 662.00 0.0% 5.8%
Croatia 10.37 1.9% 5.6%
Cyprus 1.28 0.7% 3.3%
Czech Republic 31.81 0.7% 2.7%
Denmark 12.06 1.8% 7.2%
Dominican Republic 63.75 -0.4% 3.0%
Egypt 6.60 0.0% 0.0%
El Salvador 0.99 0.0% 6.7%
Estonia 1.34 2.8% 3.7%
Fiji 2.06 0.0% 1.5%
Finland 1.50 -0.1% 3.4%
France 1.54 1.7% 2.2%
Georgia 2.28 0.2% -0.5%
Germany 1.44 0.6% 4.5%
Ghana 4.72 0.0% 4.2%
Greece 1.61 1.0% 2.3%
Guatemala 7.36 0.0% 5.4%
Honduras 25.98 0.8% 3.5%
Hong Kong 16.44 0.0% 2.2%
Hungary 382.40 0.8% 3.9%
Iceland 219.80 1.4% 4.3%
India 78.29 0.4% 2.1%
Indonesia 9266.67 0.0% 5.3%
Ireland 1.43 2.1% 2.9%
Israel 6.67 0.0% 2.6%
Italy 1.59 0.5% 1.3%
Ivory Coast 610.00 1.7% 2.5%
Jamaica 157.76 -0.1% 2.9%
Japan 143.70 0.6% 1.1%
Jordan 1.05 0.0% 5.0%
Kenya 109.17 0.3% 0.8%
Kuwait 0.11 0.0% 0.0%
Kyrgyzstan 45.00 0.7% 2.5%
Laos 10310.00 0.0% 3.0%
Latvia 1.24 0.9% 1.1%
Lebanon 1375.00 1.5% 5.0%
Lithuania 1.09 -0.7% -4.1%
Luxembourg 1.26 1.9% 5.1%
Macedonia 71.50 2.1% 5.1%
Malawi 824.70 0.0% 0.0%
Malaysia 2.20 0.0% -4.8%
Malta 1.31 0.0% 0.0%
Mauritius 47.30 0.0% 0.0%
Mayotte 1.51 2.7% 2.7%
Mexico 19.94 -0.2% 5.2%
Moldova 18.80 0.0% 2.4%
Montenegro 1.27 0.0% -2.3%
Morocco 11.26 0.0% -5.4%
Nepal 108.00 0.0% 3.8%
Netherlands 1.64 0.0% 2.3%
New Zealand 2.31 2.6% 5.3%
Nicaragua 33.95 0.0% 6.4%
Norway 16.43 1.3% 3.2%
Oman 0.22 0.0% 1.8%
Pakistan 87.70 0.0% 3.8%
Panama 0.87 3.1% 5.4%
Peru 3.58 0.9% 0.7%
Philippines 55.37 -0.6% 5.6%
Poland 4.92 0.8% 5.1%
Portugal 1.56 1.4% 3.2%
Qatar 2.00 0.0% 5.3%
Romania 5.61 1.5% 3.9%
Russia 43.15 1.8% 4.5%
Rwanda 1065.00 0.0% 2.2%
Saint Lucia 3.01 2.4% 7.5%
Serbia 148.50 0.7% 3.9%
Sierra Leone 6000.00 0.0% 0.0%
Singapore 2.17 2.2% 1.3%
Slovakia 1.37 1.0% 2.9%
Slovenia 1.35 1.8% 2.7%
South Africa 14.68 0.0% 5.8%
South Korea 1574.91 0.8% 0.7%
Spain 1.31 1.7% 4.4%
Sri Lanka 148.00 15.6% 15.6%
Suriname 6.68 0.6% 2.8%
Sweden 15.82 0.9% 7.7%
Switzerland 1.60 0.4% 3.5%
Taiwan 29.49 -0.3% 3.2%
Tanzania 2227.00 0.0% 2.8%
Thailand 36.42 1.7% 2.2%
Turkey 6.27 2.7% 8.0%
Uganda 3950.00 0.0% 8.2%
Ukraine 29.12 0.1% -4.2%
United Arab Emirates 2.37 0.0% 5.3%
United Kingdom 1.25 0.8% 2.5%
Uruguay 50.40 0.0% 0.0%
USA 0.83 1.8% 9.2%
Vietnam 21217.50 2.0% 2.6%
Zambia 13.75 0.0% 6.0%




Countries Diesel
Current price
local currency
Change
one week
Change
three months
Algeria 23.06 0.0% 0.0%
Andorra 1.04 2.7% 5.3%
Argentina 23.06 0.0% 2.2%
Aruba 1.72 4.5% 6.2%
Australia 1.48 1.2% 6.5%
Austria 1.21 1.5% 5.1%
Barbados 2.61 0.0% -0.8%
Belarus 1.36 0.7% 5.4%
Belgium 1.44 2.0% 8.2%
Bolivia 3.72 0.0% 0.0%
Brazil 3.55 1.6% 4.6%
Bulgaria 2.10 1.6% 1.1%
Burma (Myanmar) 860.00 4.9% 6.2%
Cambodia 3728.57 0.0% 4.0%
Canada 1.31 1.0% 2.8%
Cape Verde 101.50 0.0% 4.5%
Cayman Islands 0.96 1.5% 3.9%
Chile 569.20 0.7% 2.2%
China 6.76 0.0% 2.3%
Colombia 2135.04 0.0% -0.2%
Costa Rica 540.00 0.0% 0.9%
Croatia 9.82 2.8% 6.4%
Cyprus 1.32 2.2% 5.0%
Czech Republic 30.92 0.7% 2.8%
Denmark 10.53 1.0% 11.4%
Dominican Republic 48.74 0.5% 2.8%
Egypt 3.65 0.0% 0.0%
El Salvador 0.84 0.0% 3.7%
Estonia 1.27 1.3% 0.0%
Fiji 1.76 0.0% 2.9%
Finland 1.34 0.1% 0.9%
France 1.46 1.5% 5.8%
Georgia 2.28 0.3% 0.4%
Germany 1.26 0.7% 7.4%
Ghana 4.82 0.0% 8.3%
Greece 1.38 1.2% 3.2%
Guatemala 5.95 -0.2% 2.8%
Honduras 21.94 1.3% 3.7%
Hong Kong 13.70 1.5% 5.0%
Hungary 388.30 0.5% 4.8%
Iceland 211.20 1.0% 3.9%
India 68.99 0.6% 3.3%
Indonesia 10366.70 0.0% 9.3%
Ireland 1.32 1.5% 2.3%
Israel 6.17 0.0% 2.8%
Italy 1.47 0.5% 1.5%
Ivory Coast 610.00 1.7% 2.5%
Jamaica 149.52 -0.1% 0.1%
Japan 121.40 0.5% 2.3%
Jordan 0.62 0.0% 8.8%
Kenya 100.74 0.8% 3.9%
Kuwait 0.12 0.0% 0.0%
Kyrgyzstan 43.30 0.7% 5.6%
Laos 8300.00 0.0% 5.1%
Latvia 1.14 1.8% 0.5%
Lebanon 965.00 1.6% 6.0%
Lithuania 1.04 0.4% -1.4%
Luxembourg 1.11 2.7% 6.6%
Macedonia 63.00 1.6% 5.9%
Malawi 815.80 0.0% 0.0%
Malaysia 2.18 0.0% -6.8%
Malta 1.18 0.0% 0.0%
Mauritius 38.10 0.0% 0.0%
Mayotte 1.25 2.5% 1.6%
Mexico 19.03 0.1% 6.0%
Moldova 16.74 0.0% 2.0%
Montenegro 1.20 0.0% 0.0%
Morocco 9.95 0.0% -0.5%
Nepal 90.00 0.0% 8.4%
Netherlands 1.33 0.2% 2.7%
New Zealand 1.52 3.0% 4.5%
Nicaragua 28.94 0.0% 4.3%
Norway 15.31 1.6% 3.1%
Oman 0.25 0.0% 0.4%
Pakistan 98.76 0.0% 3.1%
Panama 0.76 5.1% 2.4%
Peru 3.05 4.2% 3.5%
Philippines 44.35 -0.7% 8.0%
Poland 4.85 1.3% 6.1%
Portugal 1.35 1.7% 2.8%
Qatar 2.00 0.0% 8.1%
Romania 5.68 1.5% 4.6%
Russia 41.92 2.0% 6.4%
Rwanda 1048.00 0.0% 4.3%
Saint Lucia 3.00 3.1% 7.1%
Serbia 157.50 0.7% 4.0%
Sierra Leone 6000.00 0.0% 0.0%
Singapore 1.64 3.0% 3.4%
Slovakia 1.24 1.1% 3.6%
Slovenia 1.30 2.0% 3.1%
South Africa 14.97 0.0% 5.1%
South Korea 1374.85 1.0% 1.2%
Spain 1.21 1.9% 4.8%
Sri Lanka 109.00 14.7% 14.7%
Suriname 6.23 0.6% 1.1%
Sweden 15.74 0.7% 8.7%
Switzerland 1.69 0.4% 4.4%
Taiwan 25.96 0.0% 4.0%
Tanzania 2145.00 0.0% 6.3%
Thailand 28.89 2.1% 4.7%
Turkey 5.71 1.5% 10.5%
Uganda 3450.00 0.0% 13.1%
Ukraine 26.91 0.1% -4.6%
United Arab Emirates 2.56 0.0% 2.8%
United Kingdom 1.28 0.9% 2.6%
Uruguay 40.40 0.0% 0.0%
USA 0.83 1.7% 4.4%
Vietnam 17270.00 2.2% 7.2%
Zambia 12.01 0.0% 8.3%
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