Petrol is the lifeblood of the world. It is the grease that drives virtually every industry, if not directly, then indirectly to some extent. So when the petrol price increases, all other prices are sure to follow, given that there is no escaping the overarching costs of goods and personal transportation. Either way, you certainly know about when the price goes up, and your wallet feels the pinch.
But it also happens that the price of petrol can vary drastically, based simply on where you happen to live in the world. This can be influenced by everything from your physical distance to an oil source, to the exchange rate between your country and the country you are buying oil from. So, if you happen to live in one of the 5 following countries, we feel for you, as petrol is akin to liquid gold!
These are the top 5 countries with the highest petrol prices in the world.
It is no secret that in Iceland, the electric vehicle adoption rate is through the roof. Why? Because Iceland is the most expensive place in the world to buy petrol. At a cost of $2.10 per litre, filling up your tank is nothing short of a painful experience. The main reason for the staggering price is the remoteness of the location, meaning that a great distance has to be covered in order for deliveries to be made, which naturally kicks the price up. So no wonder most prefer electric cars, resulting in a fortune being saved at the pumps and leaving drivers with a little bit more money for fun things, like playing online casino games!
Next we have Hong Kong, which is only slightly cheaper than Iceland at $2.09 per litre. Why the grasp for your wallet in Hong Kong? Very simply that due to the massive congestion on the roads, and the government is taxing petrol in order to encourage the use of public transport. There is a reason that bicycles are so popular in the country, after all.
Next up is Norway, where the price is a great deal cheaper than the above two countries at $2.02 per litre. Though this is still a fiercely high price, especially when you consider the price in other nearby European countries.
When it comes to Monaco, just about everything is expensive. The residents probably don’t mind, though, as Monaco is famously wealthy. If you haven’t seen the images of ultra-luxury sports cars lined up outside the equally ultra-luxury casinos, see them now, and feel less bad for them about the $1.94 per litre petrol price.
The last of the top 5 is the Netherlands, who pays a still exceptionally high $1.93 per litre. They’re probably happy they’re not Iceland, but likewise feel the pinch when pulling up to a petrol pump. Sadly, as with the rest of the world, the price is only going to be increasing in coming months.
Cheapest Petrol In the World
So now you know where the most is forked over for petrol, you’re probably wondering where the cheapest is. It just so happens that is Venezuela. There is an economic crisis in the country right now, but the petrol price is strictly regulated by the government, due in part to massive protests when the price inches up even a few cents. The current petrol price is $0.01 per litre. Though, it should be noted that petrol isn’t even always available, even if it is cheap!
For comparison, the next cheapest in the world is Iran at $0.30 per litre, which just about tells you everything you need to know.