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Thursday, December 29, 2011

The World's Cheapest Petrol

By Damon Mansell


If you live in the UK, you don't need us to point out that petrol is extremely expensive. Although not the priciest place to buy petrol - that accolade goes to Belgium and Norway - the UK is in the top 10 for countries with the highest priced gas.

So where do we need to live to get the cheapest deal on petrol for your car? Well your first guess is probably Saudi Arabia where the around 20% of the world's oil is produced.

The petrol in Saudi Arabia is incredibly cheap, especially when compared to what we Brits pay, but it isn't the cheapest. Rolling in to the number one spot is Caracas, the capital of Venezuela where petrol costs just 0.02 a litre.

Saudi Arabia is not far behind Caracas the capital of Venezuela, petrol prices in Riyadh, the capital of Saudi Arabia, are around 0.08 a litre. As long as they continue to produce oil they are likely to be able to sustain this price.

In third spot for countries with the cheap petrol prices is Tripoli, Libya. Tripoli, the largest city in Libya, is home to the majority of the country's population. If you are driving in Tripoli, expect to pay around 0.09 a litre although the recent war means that sometimes you will pay far more than that. Libya produces a lot of the globe's oil, in peace time, about 41 billion barrels per year. Other countries in the top 10 for dirt cheap petrol are; Egypt, Bahrain, Kuwait and Oman, but unrest in some of these countries has led to petrol prices fluctuating wildly.

Norway is an expensive place to drive a car. Petrol is expensive on a per litre basis at around 1.64. Plus the additional carbon tax of 0.10 a litre makes driving an expensive pastime in Norway. That said, the people of Norway love their cars, so simply pay up. Even gas guzzling 4 x 4s are popular there because of the climate.




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