Weekly global fuel price review, May 26, 2020

During the past week, crude oil prices continued climbing back towards their pre-COVID levels and only the OPEC basket price still remains below 30 USD per barrel. The retail fuel markets across the world are adapting to the new conditions of demand recovery. As a result, the world average retail prices of gasoline and diesel increased to levels of 0.87 USD and 0.80 USD per liter respectively.

The European average gasoline price was 1.14 USD per liter marking a 0.9% increase compared with the previous week. Gasoline prices also went up by 0.2% in Asia, by 3.3% in the USA, and by 4.3% in Canada. In South America and Australia, gasoline prices decreased by 0.2% and 1.3% respectively. The regional average gasoline price of Africa remained at its previous week's level.

Looking at individual countries, the gasoline price changes varied from -4.0% (Paraguay) to 11.4% (Panama). There was a decrease in 14 of the 163 reviewed countries, no change in 107 countries, and an increase in 44 countries. The gasoline prices went down by more than 1% in Paraguay, Finland, Tunisia, Australia, and Switzerland. The most significant price increases were observed in Malaysia, Panama, Macedonia, Guatemala, and Montenegro. The largest weekly gasoline price change was observed in Panama where new upward price adjustments by the National Secretariat of Energy came into effect.


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.


Percent change in fuel prices


Countries
Gasoline
one week
Gasoline
three months
Diesel
one week
Diesel
three months
LPG
one week
LPG
three months
Afghanistan 0.0% -23.9% 0.0% -17.4% 0.0% -24.0%
Albania 0.0% -1.7% 0.0% -1.2% 0.0% 22.0%
Algeria 0.0% 7.1% 0.0% 21.7% 0.0% 0.0%
Andorra 0.0% -9.1% 0.0% -12.1%
Angola 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Argentina 0.0% 0.1% 0.0% -0.1%
Aruba 0.0% -28.3% 0.0% -31.0%
Australia -1.3% -26.0% -0.5% -19.9% 0.0% -4.9%
Austria 1.4% -15.9% 0.5% -15.3%
Azerbaijan 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Bahamas 0.0% -26.7% 0.0% -19.6%
Bahrain 0.0% 0.0% 0.0% 0.0%
Bangladesh 0.0% 0.0% 0.0% 0.0%
Barbados 0.0% -13.7% 0.0% -17.6%
Belarus 0.0% -1.7% 0.0% -1.7% 0.0% -1.1%
Belgium 0.0% -12.0% 2.4% -15.5% 13.0% -17.6%
Belize 0.0% -0.6% 0.0% -19.8%
Benin 0.0% -5.6% 0.0% -7.1%
Bhutan 0.0% -20.9% 0.0% -25.9%
Bolivia 0.0% 0.0% 0.0% 0.0%
Bosnia and Herzegovina 0.0% -24.3% 3.2% -29.2% 0.0% -21.8%
Botswana 0.0% -1.4% 0.0% -1.1%
Brazil -0.1% -16.4% -1.6% -19.0%
Bulgaria -0.2% -26.2% -1.2% -27.6% -0.7% -25.8%
Burkina Faso 0.0% -9.0% 0.0% -6.9%
Burma (Myanmar) 5.0% -29.0% 3.7% -35.2%
Burundi 0.0% 0.0% 0.0% 0.0%
Cambodia 0.0% -25.3% 0.0% -32.4% 0.0% -26.7%
Cameroon 0.0% 0.0% 0.0% 0.0%
Canada 4.3% -13.3% 1.0% -25.1% -0.1% -0.6%
Cape Verde 0.0% -36.6% 0.0% -38.4%
Cayman Islands 0.0% -12.5% 0.0% -11.4%
Central African Republic 0.0% 0.0% 0.0% 0.0%
Chad 0.0% 0.0% 0.0% 0.0%
Chile -0.6% -6.9% -0.9% -11.9% 0.9% -1.2%
China 0.0% -17.5% 0.0% -18.7%
Colombia 0.0% -14.1% 0.0% -10.0%
Costa Rica 0.0% -10.1% 0.0% -28.7%
Croatia 0.8% -15.6% 1.5% -15.7% -0.3% -18.7%
Cuba 0.0% 0.0% 0.0% 0.0%
Cyprus 0.0% -20.2% 1.8% -20.8%
Czech Republic 0.6% -17.7% 0.4% -17.1% -9.1% -16.8%
Democratic Republic of the Congo 0.0% -10.9% 0.0% -11.0%
Denmark 0.0% -14.3% -0.3% -18.4%
Dominica 0.0% 0.0% 0.0% 0.0%
Dominican Republic 2.9% -18.1% 5.8% -26.7% 4.5% 2.8%
Ecuador 0.0% 0.0% 0.0% 0.0%
Egypt 0.0% -2.9% 0.0% 0.0%
El Salvador 0.0% -32.9% 0.0% -40.9%
Estonia 0.0% -15.7% 0.0% -25.9% 0.0% -15.3%
Ethiopia 0.0% 0.0% 0.0% 0.0%
Fiji 0.0% -17.8% 0.0% -10.7% 0.0% 3.0%
Finland -1.6% -15.2% -2.1% -18.0%
France 2.5% -14.0% 1.7% -15.3% 0.0% -2.2%
Gabon 0.0% -11.7% 0.0% -12.7%
Georgia 0.0% -18.0% 0.0% -23.4% 0.0% -4.1%
Germany 2.0% -12.6% 1.4% -15.7% -0.5% -8.6%
Ghana 0.0% -23.4% 0.0% -24.1%
Greece 1.6% -15.1% 0.8% -17.5% 0.0% -13.8%
Grenada 0.0% -21.9% 0.0% -27.0%
Guatemala 4.6% -18.1% 3.0% -19.9%
Guinea 0.0% -10.0% 0.0% -10.0%
Guyana 0.0% -37.5% 0.0% -27.1%
Haiti 0.0% 0.0% 0.0% 0.0%
Honduras 3.3% -22.9% 1.0% -28.7% 1.9% -6.1%
Hong Kong 0.9% -4.5% 1.1% -6.2%
Hungary 3.5% -13.4% 3.0% -12.4% -0.1% -9.2%
Iceland -1.6% -11.9% -1.4% -10.4%
India 0.0% -0.8% 0.0% 0.6% 0.0% -34.6%
Indonesia 0.0% 0.0% 0.0% -3.7%
Iran 0.0% 0.0% 0.0% 0.0%
Iraq 0.0% 0.0% % %
Ireland -0.4% -15.9% -0.1% -16.1%
Israel 0.0% -19.4% 0.0% -16.7% 0.0% -20.9%
Italy 0.4% -11.7% 0.4% -13.0% 1.2% -8.6%
Ivory Coast 0.0% -9.5% 0.0% -7.3%
Jamaica 0.2% -5.7% 0.2% -14.2%
Japan 1.3% -15.7% 1.1% -18.0%
Jordan 0.0% -23.5% 0.0% -34.7%
Kazakhstan 0.0% -0.4% 0.0% 0.3%
Kenya 0.0% -23.6% 0.0% -23.4%
Kuwait 0.0% 0.0% 0.0% 0.0%
Kyrgyzstan 0.0% -15.2% 0.0% -20.0% 0.0% -25.8%
Laos 0.0% -6.4% 0.0% -9.8%
Latvia 2.5% -17.2% 5.1% -19.8% 9.6% -19.2%
Lebanon 0.0% -2.5% -1.1% -46.3% 0.0% -22.8%
Lesotho 0.0% -34.9% 0.0% -33.8%
Liberia 0.0% 0.0% 0.0% 0.0%
Liechtenstein 0.8% -16.6% -1.2% -16.9%
Lithuania 2.1% -21.3% 2.3% -21.9% 11.4% -17.8%
Luxembourg 3.0% -16.1% 4.2% -19.5% 5.8% -17.2%
Macedonia 5.5% -12.9% 5.3% -14.7% 0.0% -25.0%
Madagascar 0.0% 0.0% 0.0% 0.0%
Malawi 0.0% -25.8% 0.0% -28.1%
Malaysia 5.3% -33.0% 4.1% -29.4%
Mali 0.0% 0.0% 0.0% 0.0%
Malta 0.0% 0.0% 0.0% 0.0%
Mauritius 0.0% 0.0% 0.0% 0.0%
Mayotte 0.0% -19.1% 0.0% -20.3%
Mexico 2.2% -13.9% 1.0% -9.9%
Moldova 0.0% -16.2% -1.1% -20.1% 0.0% -14.7%
Monaco 0.0% -21.0% 0.0% -22.9%
Montenegro 6.1% -18.0% 5.6% -19.0%
Morocco 0.0% -20.3% 0.0% -23.7%
Mozambique 0.0% 5.1% 0.0% 6.6%
Namibia 0.0% -20.7% 0.0% -18.3%
Nepal 0.0% -11.1% 0.0% -12.4%
Netherlands 0.7% -10.8% -1.3% -12.1% 0.6% -21.3%
New Zealand 1.4% -10.1% -0.4% -18.0%
Nicaragua 4.6% -18.2% 3.0% -26.5%
Nigeria 0.0% -15.1% -0.9% -0.9%
Norway 1.3% -9.1% 0.5% -11.4%
Oman 0.0% -10.7% 0.0% -7.7%
Pakistan 0.0% -30.0% 0.0% -37.1%
Panama 11.4% -24.5% 6.6% -31.8%
Paraguay -4.0% -9.7% -5.2% -12.5% 0.0% -13.2%
Peru -0.4% -3.9% -1.7% -8.2% -1.4% -2.0%
Philippines 0.3% -16.2% -0.2% -24.3%
Poland 3.4% -18.8% 0.8% -22.1% 1.2% -26.2%
Portugal 2.7% -11.9% 2.1% -15.1% 0.0% -7.3%
Puerto Rico 0.0% -26.9% 1.1% -30.0%
Qatar 0.0% -43.2% 0.0% -44.7%
Romania 0.4% -17.3% 0.4% -15.1% 0.0% -3.9%
Russia 0.0% -0.1% 0.0% 0.0% -2.4% -13.2%
Rwanda 0.0% -11.5% 0.0% -14.7%
Saint Lucia 0.0% -14.5% 0.0% -10.9%
San Marino -0.3% -11.9% 3.3% -15.7% -6.2% -15.9%
Saudi Arabia 0.0% -61.1% 0.0% 0.0% 0.0% 0.0%
Senegal 0.0% 0.0% 0.0% 0.0%
Serbia 0.0% -16.8% 0.0% -17.5% 0.8% -19.3%
Sierra Leone 0.0% -22.2% 0.0% -22.2%
Singapore 1.5% -11.8% 2.4% -11.6%
Slovakia 1.9% -15.3% 0.0% -14.9% -1.5% -15.0%
Slovenia 0.0% -20.3% 0.0% -16.2% 0.0% -7.4%
South Africa 0.0% -24.4% 0.0% -21.4%
South Korea -0.0% -19.6% -0.0% -23.1% -0.2% -17.5%
Spain 1.0% -15.5% 1.2% -16.2% 0.1% -8.3%
Sri Lanka 0.0% 0.0% 0.0% 0.0%
Sudan 0.0% 0.0% 0.0% 0.0%
Suriname 1.1% 0.8% -0.2% -0.4%
Swaziland 0.0% 0.0% 0.0% 0.0%
Sweden -0.1% -12.3% -0.1% -12.9% 0.0% -7.2%
Switzerland -1.4% -13.2% -0.4% -14.7% 3.5% -4.3%
Taiwan 2.4% -20.1% 4.9% -24.3% 0.0% -21.1%
Tanzania 0.0% -16.1% 0.0% -15.9%
Thailand 1.8% -16.7% 5.7% -20.6%
Togo 0.0% -9.9% 0.0% -5.3%
Trinidad and Tobago 0.0% 0.0% 0.0% 0.0%
Tunisia -1.5% -2.9% -1.4% -2.7%
Turkey 3.5% -12.4% 2.3% -13.2% 0.0% -14.7%
Turkmenistan 0.0% 0.0% 0.0% 0.0%
Uganda 0.0% 1.4% 0.0% 2.1%
Ukraine 0.1% -17.6% 0.1% -18.0% 9.7% -14.8%
United Arab Emirates 0.0% -15.1% 0.0% -14.2%
United Kingdom -0.0% -13.8% -0.1% -12.7% 0.0% 0.3%
Uruguay 0.0% 0.0% 0.0% 0.0%
USA 3.3% -16.9% 0.0% -16.2%
Uzbekistan 0.0% 0.0% 0.0% 0.0%
Venezuela 0.0% 0.0% 0.0% 0.0%
Vietnam 0.0% -36.8% 0.0% -35.1%
Wallis and Futuna Islands 0.0% 0.7% 0.0% 0.9%
Yemen 0.0% -19.2% 0.0% -19.8%
Zambia 0.0% 0.0% 0.0% 0.0%
Zimbabwe 0.0% 14.9% 0.0% 6.6%




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