The world will be witnessing about 3x increase in the number of cars on the road within a short span of 40 years between 2010 and 2050. This has been largely due to the easy availability and large scale extraction of fossil fuels. Also, we also face an exhaustion of the fuels in the next 50 years, not to mention the ill-effects of these fuels.
While this is the case, lets us take a look at the current state and price of gasoline, one of the most used petroleum products, across the world. Check out the price list of petrol or Gasoline (Per liters) in the most popular countries.
Check out the petrol prices in These 35 Countries
1. Hong Kong
Fuel price: $1.91
Although Hong Kong is a nation that has very low taxation and virtually free port trading, the existence of international financial centers has been one of the reasons for its fuels to be the costliest in the world.
Fuel price: $1.83
Norway was rated as the bests country to live in. With the lowest rate of crime and very high standard of living, the downside is it's very high fuel prices.
Fuel price: $1.71
Contrary to one's expectation of the fuel prices to be extremely low in a middle-eastern country, at Isreal, on of the most developed countries (18th according to the UN's chart) fuel prices are pretty high.
Fuel price: $1.68
With a high GDP, Netherlands is one of the most developed and one of the richest countries of the world, and the same has to and will be reflected in its fuel prices!
Fuel price: $1.65
Although the economy of Greece has taken a huge hit recently, it is still the 46th richest nation in the world, and the price of the fuel is a good indicator that it is well on it's way to recovery.
Fuel price: $1.58
Next in line is Sweden. A European nation that is mostly dependent on its exports is an expensive state to be in, hence the high fuel price.
Fuel price: $1.51
France was listed as the sixth largest economy in the world by the International Monetary Funds for the year 2017. That alone could be a testimonial for its high fuel price.
Fuel price: $1.51
Tied with France is the United Kingdom. The island conglomerate is the 5th largest economy in the world, just above France in terms of nominal Gross Domestic Product.
Fuel price: $1.47
The fourth largest economy in the world and the biggest national economy in Europe is Germany. With a minimum wage close to 1500 EUR, people won't have any qualms about paying for gas here!
10. New Zealand
Fuel price: $1.45
New Zealand is the 53rd biggest economy in the world, in terms of nominal GDP. It has a combination of both manufacturing-service sectors and an efficient agricultural system bringing in money to the island nation.
Fuel price: $1.44
The most talked-about nation when it comes to business, as it is ranked as the most open in all of the globe, is Singapore. Although it can be the best for business it seems to be a bit pricey when it comes to fuel.
Fuel price: $1.42
Another European nation which is a haven for vacation takers, and businessmen (due to it's confidential and secure monetary policies) falls also appears in the top half of the fuel price charts.
Fuel price: $1.37
Zimbabwe is a country whose economy took a steep dive after the year 2000. The nation has a high unemployment rate of 95% and their participation in Congo's war led to this decline and they even had to suspend their own currency.
Fuel price: $1.19
Mauritius was once regarded as a low-income nation that depended solely on agriculture. But slowly and steadily it has bettered its name with the help of tourism and other lucrative industries.
Fuel price: $1.17
According to the nominal GDP, Japan is the 4th largest economy in the world. As it so happens, the people there get to keep their monies with them due to the relatively low-priced gasoline.
Fuel price: $1.13
One of the fastest growing economies, with a rate of 5% annual increase in gross domestic product, Brazil is the second biggest economy in all of Americas.
Fuel price: $1.11
Right at the center of the list is India. Ranked as the sixth largest economy in the world, India has recently introduced dynamic fuel prices that will change on a daily basis.
Fuel price: $1.03
The economy of Syria has been torn to shreds by the ongoing civil war in the nation. Mass killings, torture, and kidnappings have become common and the one is diverted to maintaining military forces.
19. South Africa
Fuel price: $1.00
South Africa is ranked as one of the upper-middle income level economies out of four nations in Africa by the IMF and the World Bank. The fuel price here is reasonable.
Fuel price: $0.98
The most populous nation in the world, China is also the largest manufacturing economy in the world. It is a vast expanse of land to the north and east of India, that is blessed with grasslands, rivers, mountains, deserts and a long coastline.
Fuel price: $0.97
Agriculture has been the primary bread earner for the Himalayan foothill nation of Nepal. The change in rule from monarchy to communism has taken its toll on the economy.
Fuel price: $0.97
The biggest island nation forms about 1.97% of the world's economy. It takes the 12th spot in terms of nominal GDP in the world.
Fuel price: $0.95
Regarded as one of the least developed nations, a neighbor to Nepal and India, Bhutan mainly relies on agriculture for its economy.
Fuel price: $0.93
The 13th largest economy in the world, Mexico has been in the news a lot for opposing the decision of the US President to build a wall across their borders. Nevertheless, the fuel prices here are very reasonable.
Fuel price: $0.93
The freezing yet wonderful nation Canad is one of the developed nations of the world. It has a steady price for its fossil fuels for some time now.
26. Sri Lanka
Fuel price: $0.84
The island nation to the south of India, Sri Lanka has seen s surge in its economy very recently. The fuel prices here are pretty reasonable.
Fuel price: $0.81
Although a third of the people in this Asian country are deemed to be living in poverty, Vietnam is ranked as the 47th largest economy in the world.
Fuel price: $0.70
It is surprising that the largest economy in the world, USA has such low fuel rates. It represents 22% of the nominal GDP of the world, that is how huge this nation is.
Fuel price: $0.69
Although 42nd in terms of nominal GDP, much of it's economic inflow is undocumented (about 36%) and hence Pakistan is considered to be a developing country.
Fuel price: $0.69
Some experts estimate that the huge expanse of land that is Russia contains about 30% of the world's resources. When such is the case, fuel rates are bound to be low.
Fuel price: $0.50
One of the biggest economies in the Arab world, right below Saudi Arabia is the United Arab Emirates. Petroleum and tourism are the big money makers in these parts of the world.
Fuel price: $0.48
The Southeast Asian nation is a mix of cultural backgrounds from India, China, and Europe. It is known for its rainforests and beaches, and its economy relies mostly on tourism.
Fuel price: $0.34
Known as one of the best-planned economies in the world, under its president Gamal Abdel Nasser, the fuel price here in Egypt can be considered as very low.
34. Saudi Arabia
Fuel price: $0.24
Considered to be the birthplace of Isam and of petroleum, Saudi Arabia has one of the cheapest priced fossil fuel rates in the world. It has the biggest economy in the Arab part of the word.
Fuel price: $0.01
Standing last with the cheapest fuel price in the world is Venezuela. About 50% of its economy is dependent on fuels and 95% of its exports consist of just petrol and its products. No wonder petrol here is dirt-cheap!
That ends our Petrol price list. Let us know your opinions in the comments and reaction sections below!