While the country has significant oil reserves of its own, instead of using the money to subsidize vehicle fuel it goes to fund social spending such as free college education and national infrastructure. The chart above offers a snapshot of four countries with different price profiles — oil-rich Saudi Arabia subsidizes its gasoline much more than most other countries; France, along with most Western European nations, has high taxes while car-dependent America has relatively low prices compared to its global counterparts. Hong Kong charges the highest prices for gas worldwide, according to Deutsche Bank's annual " Mapping the World's Prices " report. European countries tend to heavily tax fuel, and as a result, a handful of European countries are among those with the highest fuel prices. A recent government report shows gas prices are expected to climb to a three-year high this summer. Free credit reports have been extended; here’s why it’s important to check yours regularly. The Gas price is forecasted to reach $12.694 by the beginning of June 2021. "Natural Gas Prices for Industry Worldwide as of 2019, by Select Country (in U.S. 10. At 96th, it produces about 5,800 barrels of oil a day. Chart. This feature is limited to our corporate solutions. Gas Prices around the country Yes, Texas has 28 refineries, but California has 17 refineries, and New York doesn’t have any. That’s nothing compared to what drivers pay in Hong Kong: $7.04 per gallon. Register in seconds and access exclusive features. If you are worried about gas prices rising while you are on the road, using this GasBuddy tool can help you plan accordingly. Gas prices in Europe are counted among the highest worldwide. the full list of the countries with the highest gas prices on Credit.com. As with gasoline, the price of crude oil tanked last spring as COVID-19 … Then you can access your favorite statistics via the star in the header. Norway, for example, is the world’s 15th-largest oil producer but also has one of the highest average gas prices: $6.44 a gallon. Still, to fill a 16-gallon tank in Italy (an average size), it would cost nearly $100, compared to about $40 in the U.S. Bulgaria. Hong Kong has the world's highest gasoline prices. Italy- Price per gallon of gas: $ 6.74. Accessed May 12, 2021. https://www.statista.com/statistics/253047/natural-gas-prices-in-selected-countries/, IEA. Daily wages spent on one gallon of gas: 21.22 percent. Hong Kong is the highest … Car ownership isn’t common in many African nations, and Somalia produces no oil, according to data from the U.S. Department of Energy. “In that case, higher taxes that drive up the cost of gasoline (which is the common thread as well — the prices are almost always high because of high taxes) will back out oil imports because citizens will look for more cost-effective transport.”. "Natural gas prices for industry worldwide as of 2019, by select country (in U.S. dollars per megawatt hour)*." August 1, 2020. Quotes delayed at least 15 minutes. The data for the remaining countries are updated monthly. Shale gas and new fracking techniques are covered in detail. The only available price for Iran was the second quarter of 2015. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Dow Jones & Company Terms & Conditions. Average daily wage: $26.13. In total, taxes account for 68.84% of the total price of petrol and 56.55% of the total price of diesel. and over 1 Mio. Check out the full list of the countries with the highest gas prices on Credit.com. IEA. As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. 6. Switzerland. Continue reading to see which countries have the highest gas prices: 20. The Gas price prediction for the end of the month is $12.861. Gas Prices Around The World. As Hong Kong exists on a very small land area that could be easily clogged with automobile traffic, the government encourages its citizens to use public transit as their primary form of transportation. Directly accessible data for 170 industries from 50 countries Clearly, there is a trend— logically, the countries with the most oil reserves pay the least. Download the latest electricity prices. Powered and Implemented by Interactive Data Managed Solutions. Regional gasoline and diesel prices. More by Christine DiGangi, you can see the full list of countries with the lowest gas prices here. Netherlands- Price per gallon of gas: $7.12. Here are the countries with gas prices that will make American drivers cringe. Please authenticate by going to "My account" → "Administration". Gasoline prices, Octane-95, 03-May-2021: The average price of gasoline around the world is 1.15 U.S. Dollar per liter. Even teachers and students in math and world geography classes can benefit from using the data and charts provided. Also, the people who live there tend to be very wealthy, so they may be able to afford to pay far more than Americans do to fuel their cars. Earnings estimates data provided by Zacks. Switzerland has one of the highest natural gas prices for industry in the world, amounting to approximately 67 U.S. dollars per megawatt hour in 2019. The city's gas … On top of that is 21% VAT over the entire fuel price, making the Dutch taxes one of the highest in the world. $39 per month* 8. The earliest available price for Nigeria was the third quarter of 2015. As far as cars and fuel go, Italy and the U.S. aren’t that different. However, there is substantial difference in these prices among countries. Download fuel price data. 5. Please create an employee account to be able to mark statistics as favorites. 9. After all, if oil has to be shipped long distances to a refinery and then the gas has to be shipped back, it isn’t going to help the local price of gas. Gasoline Price (average): $7.26 per gallon What year did gas go over one dollar? Learn more about how Statista can support your business. Included in … Natural gas prices for industry worldwide as of 2019, by select country (in U.S. dollars per megawatt hour)* [Graph]. FAQ - Updated Privacy Policy. Then you will be able to mark statistics as favourites and use personal statistics alerts. Places like Thunder Bay averaging $1.10 per litre, Toronto at around $1.05 per litre might not bad that bad if you compare it with the rest of the world (see chart below). With an average price of $2.87 per gallon, Hawaii is the most expensive place in the U.S. to buy gas. ", IEA, Natural gas prices for industry worldwide as of 2019, by select country (in U.S. dollars per megawatt hour)* Statista, https://www.statista.com/statistics/253047/natural-gas-prices-in-selected-countries/ (last visited May 12, 2021), Natural gas prices for industry worldwide as of 2019, by select country (in U.S. dollars per megawatt hour)*, Natural gas - proved reserves worldwide 2000-2019, Rate of return of natural gas investments worldwide 2010-2020, Natural gas reserves by world region 2019, Natural gas - countries with the largest reserves 2009-2019, OPEC - share of global natural gas reserves 2009-2019, Global years of remaining natural gas supply 1980-2019, Global natural gas reserve to production ratio by region 2019, Natural gas production share of leading producing countries 2010-2019, OPEC - share of total global natural gas production 2009-2019, Global natural gas exports change by region 2018/2019, Global natural gas imports change by region 2018/2019, Global industry prices for natural gas by select country 2019, Monthly natural gas prices in the United States and Europe 2014-2021, Global natural gas energy prices by region 2017-2030, Global natural gas largest producing companies 2019, Global oil and natural gas companies based on number of employees 2020, Global natural gas consumption by country 2018, Share of global natural gas consumption of the leading consuming countries 2019, Household natural gas prices in the U.S. 1975-2020, Commercial consumer price estimates for natural gas, U.S. industrial consumer price estimates for natural gas, Italy: natural gas bill distribution 2017-2018, by service, Annual SME natural gas invoice in Belgium and the Netherlands 2018, Annual residential natural gas invoice in Belgium and the Netherlands 2018, Slovenia: industry prices for natural gas 2008-2019, Natural gas: industry prices in Belgium 2008-2020, Industry prices of natural gas in Austria 2009-2019, Hungary: industry prices of natural gas 2008-2019, industry prices of natural gas in Sweden 2008-2019, Luxembourg: industry prices of natural gas 2008-2020, Industry prices of natural gas in Latvia 2008-2019, Industry prices for natural gas in Slovakia 2008-2019, Italy: industry prices of natural gas 2008 to 2018, United States: export value of natural and manufactured gas from the UK 2010-14, Natural gas export volume from Croatia 2008-2014, Number of approved industrial development fund loans in Saudi Arabia by region 2018, Industry prices of natural gas in Portugal 2008-2019, Value of approved industrial development fund loans in Saudi Arabia 2007-2018, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, In the United States, natural gas prices were typically associated with oil prices, Global primary energy demand from natural gas is highest, small portion of demand is for power generation, world’s largest natural gas consumers are the United States, Russia, and China. Read full article ... which help India’s banking system deal with one of the world’s worst … API: fuel, electricity and natural gas price data feed. The average American’s gallon of gas cost $2.46 as of the most recent report from globalpetrolprices.com, putting it as the country 20th-lowest average gas price out of 183 nations. Market Data provided by Interactive Data (Terms & Conditions). Iran. Economic data provided by Econoday. And, prices of gas between these 15 countries don’t vary that much, since the lowest one is $1.56 per liter and the highest is $1.87 per liter. They both produce and import oil (though the U.S. does both on a much larger scale), and car ownership is common. These are the states with the highest and lowest gas prices. Platts Jet Fuel Price Index is published by S&P Global Platts, reflecting its daily assessments of physical spot market Jet Fuel spot prices in the relevant regional centers. Christine DiGangi covers personal finance for Credit.com. (Note: Hong Kong isn’t a country — it’s a special administrative region of China — but is listed independently on globalpetrolprices.com.). You only have access to basic statistics. This price was used for all prior quarters. Gasoline prices in cities around the world. Israel- Price per gallon of gas $6.93. Maybe you own a local business and want to track your business profits in comparison to fuel price history. This material may not be published, broadcast, rewritten, or redistributed. Israel-Gaza clash shows no signs of slowing, Biden policies ‘duped the Fed’: Economist Peter Morici, Indiana moves to reinstate weekly work search requirement, Market will pressure the Fed to address inflation surge: Market strategist, Cash-out refinance: Pros, cons, when to get one, Today's mortgage refinance rates climb, but 30-year rates still a great deal | May 12, 2021, Today's mortgage rates edge up, but still lower than March averages | May 12, 2021. facts. It’s also one of the poorest countries in the world. Jay-Z, born Shawn Corey Carter on Dec. 4, 1969, is an American entrepreneur , investor, music producer and rapper. The country’s average per capita... 9 Hong Kong - $8.21 per gallon. The highest average gas price was $3.64 in 2012, which is 167% more expensive than a decade earlier. One of the biggest differences between countries with high gas prices and those with low gas prices is oil production (you can see the full list of countries with the lowest gas prices here). Turkey. This … Methodology for Platts Jet Fuel price index. Real-time quotes provided by BATS BZX Real-Time Price. Jet fuel price developments - impact of Euro/US$ exchange rate movements. This article originally appeared on Credit.com. Israel barely makes the top 100 of oil-producing countries. Greece- Price per gallon of gas: $ 6.92. (August 1, 2020). Turkey and Eritrea are saddled with the world’s highest gas prices, with the latter hitting $9.59 a gallon, according the survey. Gas price prediction for July 2021 The Gas price is forecasted to reach … There are many factors affecting this, including lack of land area, import fees, taxes, etc. On a global scale, it’s not terribly expensive to fuel up in the U.S. Belgium is an industrialized country in Western Europe. ©2021 FOX News Network, LLC. Residents of the Netherlands are currently paying $6.22 for a gallon of fuel. Central African Republic- Price per gallon of gas: $7.07. States With Highest Gas Prices More The national gas price average is expected to range between $2.85 and $3.05 through Labor Day, according to Jeanette Casselano, AAA gas price expert. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Show publisher information, 2020 global list of the top oil and gas companies based on revenue, Leading oil and gas producers based on market cap April 2021, Leading natural gas producing countries worldwide 2014 & 2018, U.S. and European natural gas commodity prices 1980-2030. Quick Analysis with our professional Research Service: Show sources information Statista. Natural Gas Hits Highest Price in 2020: 5 Stocks in Focus. Daily wages spent on one gallon of gas: 21.84 percent. The 2007 fuel tax was €0.684 per litre or $3.5 per gallon. Fuel price forecast. The U.K. and Denmark produce a decent amount of oil (they’re ranked 23rd and 39th, respectively), but again, European countries tend to have high taxes on fuel. Netherlands. President Biden has overseen a steep increase in gas prices since taking the oath of office in January. Dollars per Megawatt Hour)*. The average price of gas first went over $1 a gallon in 1980, when it went from $0.86 per gallon to $1.19 per gallon. Monaco is the second-smallest and most densely populated country in the world, so there’s not a lot of space for vehicles, making the high gas prices seem logical. New, Insights into the world’s most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development, Find studies from all around the internet. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. Is it wise to pay off student loan debt with my tax refund? Somalia is one of two African nations among the 10 most expensive places to buy gas. Previously, she managed communications for the Society of Professional Journalists, served as a copy editor of The New York Times News Service and worked as a reporter for the Oregonian and the News & Record. That’s nothing compared to what drivers pay in Hong Kong: $7.04 per gallon. Corporate solution including all features. 7. Profit from additional features by authenticating your Admin account. All energy prices. Jet fuel price developments - longer term perspective. Crude oil prices are surging. Mutual fund and ETF data provided by Lipper. Price per gallon: $5.77. All rights reserved. Analysis of natural gas prices and also developments in the natural gas sector. Are you interested in testing our corporate solutions? At six U.S. dollars per gallon or more, gasoline is particularly expensive in Italy, the Netherlands, and Norway. Please contact us to get started with full access to dossiers, forecasts, studies and international data. The country with the most expensive gasoline in the world is Hong Kong, where a gallon of … With an average price of $2.87 per gallon, Hawaii is the most expensive place in the U.S. to buy gas. What is the highest priced gas in history? “Common threads among most of those countries will be that they have extensive bus/rail transport options, and in most cases they are oil-importing nations,” said Robert Rapier, an energy analyst, in an email. 9. The … In, IEA. Hong Kong is one of the most densely populated cities in the world. Public Domain Image: Public Domain. Generally, those that produce a lot of oil also have relatively low gas prices, but that’s not always the case. Based on data released by GlobalPetrolPrices, here are the top 10 countries where gas is the most expensive: 10. Please do not hesitate to contact me. Want to see how high prices go? (billed annually). Company fundamental data provided by Morningstar. Want to track your business of the total price of $ 2.87 per,. Oil a day as far as cars and fuel go, Italy and the U.S. to buy gas of.. Highest price in 2020: 5 Stocks in Focus a lot of oil a day 2.87 per.... 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