What are gas prices around the world?
DETROIT (FOX 2) - While gas prices are high in the United States, they are also high around the world.
According to Global Petrol Prices, while all countries have access to the same gas prices in the international market, taxes and subsidies vary by nation, leading to pricing differences.
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Typically, richer countries have higher prices while poorer countries and countries that export oil tend to have lower prices.
Like the U.S., other countries have seen a recent spike in gas prices.
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As of March 14, Global Petrol Prices reports that the average price of gas around the world is $5.01 U.S. per gallon. The U.S. is on par with the average, with only one state, California, having gas prices higher than $5 per gallon.
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However, while the worldwide average is just under $5, some drivers are paying upwards of almost $11 per gallon.
Top 10 most expensive countries to buy gas as of March 14 (prices are updated weekly unless noted):
- Hong Kong – $10.898
- Monaco – $9.375 (updated monthly)
- Netherlands – $9.205
- Finland – $9.201
- Liechtenstein – $9.171 (updated monthly)
- Germany – $9.122
- Italy – $9.084
- Norway – $8.834
- Greece – $8.741
- Denmark – $8.500
Top 10 least expensive countries to buy gas as of March 14 (prices are updated weekly unless noted):
- Venezuela – $0.095 (updated monthly)
- Libya – $0.122 (updated monthly)
- Iran – $0.194 (updated monthly)
- Syria – $1.195 (updated monthly)
- Algeria – $1.218
- Angola – $1.289 (updated monthly)
- Kuwait – $1.306
- Kazakhstan – $1.489 (updated monthly)
- Nigeria – $$1.515 (updated monthly)
- Turkmenistan – $1.621 (updated monthly)