Tuesday, May 15, 2012

Highest & Cheapest Gas Prices by Country

Information as on 15th May, 2012. Directly taking this from The Big Picture blog.


(Click to expand picture)




Most expensive gas ranking:Price per gallon of premium gasoline: 
Norway$9.69
Denmark$9.37
Italy$9.35
Netherland$9.35
Greece$9.23
Sweden$8.97
Hong Kong$8.89
Portugal$8.85
United Kingdom$8.84
Belgium$8.82
France$8.72
Finland$8.59
Germany$8.56
Ireland$8.34
Switzerland$7.95
Slovakia$7.93
Hungary$7.69
Czech Republic$7.59
Japan$7.58
South Korea$7.57
Spain$7.55
Slovenia$7.54
Austria$7.45
Malta$7.32
Latvia$7.26
Luxembourg$7.24
Lithuania$7.24
Estonia$7.05
Poland$7.01
Cyprus$7.00
Bulgaria$6.94
Australia$6.75
Singapore$6.70
Romania$6.59
Chile$6.54
Brazil$6.41
India$6.06
Canada$5.75
South Africa$5.72
Seychelles$5.53
Argentina$5.44
China$5.31
Thailand$4.96
United States$4.19
Indonesia$4.11
Russia$3.71
Malaysia$3.30
Mexico$3.20
Iran$2.78
Nigeria$2.33
United Arab Emirates$1.89
Egypt$1.73
Kuwait$0.88
Saudi Arabia$0.61
Venezuela$0.09


So India lies at the 19th position out of 56 countries (from lowest to highest), so we're pretty well placed. Few assumptions I made: Gasoline in the US is Petrol in India, so $6.06/gallon works out to roughly Rs. 80 per litre (assuming USD-INR conversion of Rs. 50). That still seems to be a little on the higher side, considering price on the street is around Rs. 71 now. Converting that to dollars we get, $5.37/gallon, which takes us to 15th place. That's not half-bad is it? Are we ready for some more pain in case prices are hiked?

(Note to self: See how every dollar/rupee increase in price cuts down our fiscal deficit)

Here's the 57(!!!) page slide-show by Bloomberg on the same.