Which Country Has The Cheapest Gas? Americans Pay 62 Times More Than Venezuelans For Fuel

Gas prices in the US are close to $5 per gallon as American consumers bear the burden of inflation at the time of the Russia-Ukraine war. But it's not only the American consumers who are paying more for gas than its average price. From Australia to Canada, all countries are witnessing a massive jump in gas prices.

Gas prices in Chile, Fiji, India and Australia are similar to the US but for the people of Hong Kong, it's really expensive.

gas prices in the US
Representative image pixabay

Hong Kong Has The Highest Gas Rates Worldwide

According to globalpetrolprices.com, gas prices in Hong Kong currently stand at $11.35 per gallon, which is the highest and the most expensive in the world.

A number of western sanctions against Russia, which is one of the biggest gas and oil supplies to the world, have skyrocketed the prices in the US, Europe, and other parts of the world.

Gas prices across the world
Gas prices across the world Twitter

Russian gas supplies to other countries are also being monitored by the West as it's regularly advising and barring other countries from purchasing gas from Russia. The West believes that the Russian economy runs on massive income which it gets from selling gas and oil and a proper ban on Russian gas exports could force Moscow to end the Ukraine war as it wouldn't have enough funds for it.

Gas Prices In Saudi Arabia Are Almost Half of The US Gas Prices

Gas prices in Saudi Arabia are almost half of America's. The Middle Eastern country has the cheapest gas which stands at $2.35 per gallon, according to Fortune.

Who Has Cheapest Gas In The World?

Nearly 2,800 miles away from the US, gas prices are the cheapest in South America. Venezuela has the cheapest fuel in the world which currently stands at $0.08 per gallon. It means that Americans are paying nearly 62 times more than Venezuelans for a gallon of gas.

Americans Pay 25 Times More Than Iranians For Gas

Iran and Libya's gas prices are not much different than Venezuela's as both countries charge less than a dollar for a gallon of gas. Gas prices in Libya stand at $0.12 and Iran at $0.20 per gallon. Respectively in Syria, Algeria, and Kuwait, gas prices stand at $1.08, $1.19, and $1.29 per gallon but Europeans are paying nearly 50% more for gas than Americans.

Gas Prices In Europe

In Europe, Norway has the highest gas prices which stand at $10.22 per gallon and it's followed by Denmark, Finland and Greece where gas prices respectively stand at $10.04, $10.08 and $9.49 per gallon.

People in the UK are paying $8.39 for a gallon of gas while prices are slightly cheaper in Spain ($8.35) and France ($8.27).

Currently, Russians are paying $3.409 for a gallon of gas while Chinese are paying $5.14 per gallon despite purchasing oil from Russia amid sanctions.

Interestingly, under the Taliban rule in Afghanistan gas prices are cheaper than in the US as it stands at $3.61 for a gallon of gas.

This article was first published on June 20, 2022