Top 10 Cheapest Petrol Countries in the World : Many countries in asia and world is precisely in terms of prices of the petrol where some countries in world such as Belgium , Eritrea, Sweden, Denmark and the UK, pay the highest prices for petrol in the world. However, there are many other countries in the world where the price of petrol is cheaper than the price of a bottle of water. So here is the list of Top 10 Cheapest Petrol Countries in the World (prices below are averages and in US Dollar and Indian rupees).
Top 10 Cheapest Petrol Countries in the World
10. ALGERIA — US$ 0.244 PER LITRE
Algeria is one of the biggest oil producers country in africa. Algeria supplies large amounts of natural gas to Europe, and energy exports are the backbone of the economy. Country produce average of 1.2 million barrels oil a day. This flood of oil has pushed down petrol prices significantly in the country to US$ 0.244 (Rs.15.72 per litre). Almost 60% of the country’s income depends on oil production.
9. OMAN — US$ 0.243 PER LITRE
petrol prices in oman is just US$0.243 (Rs 15.68 per litre). Oman’s crude oil production is average 1 million barrels a day meaning the government can offer lower prices to its citizens. Oman stands at 9th in our list of Top 10 Cheapest Petrol Countries in the World.
8. EGYPT — US$ 0.232 PER LITRE
EGYPT is 8th Cheapest Petrol Country in the World with a petrol price of US$ 0.232 per liter. The Suez Canal is important supply line running across the east of the country – carries an estimated one million barrels of oil from the Persian Gulf every day , Approximately 50% of Egypt’s oil production. EGYPT has the sixth largest proved oil reserves in Africa.
7. QATAR — US$ 0.182 PER LITRE
Qatar is world’s 2nd highest per capita income country in the world and has the 7th lowest petrol prices. Petrol prices in qatar is just 0.182 US Dollar (RS 11.70 PER LITRE). Oil industry is the main source of government’s earning. country’s national petroleum supplier accounts for 70% of the government’s revenue. Qatar has proven oil reserves of more than 15 billion barrels.
6. KUWAIT — US$ 0.171 PER LITRE
Kuwait is tenth largest oil producer in the world and has a proven crude oil reserves of 104 billion barrels , approximately 9% of the world’s reserves. But nevertheless, Petrol is subsidized by the government of Kuwait bringing prices down to just $0.171 US per Litre (RS 11.00 PER LITRE)
5. BAHRAIN — US$ 0.158 PER LITRE
Bahrain produce average of about 40,000 barrels (6,400 m³) per day far less than its rich Middle-Eastern neighbours. However The country is at fifth in the list of ‘Top 10 Cheapest Petrol Countries in the World’ with an average petrol price of just US $0.158 per litre(Rs 10.20 per litre). 60% of the country’s economy is depends on petroleum refining.
4. TURKMENISTAN — US$ 0.146 PER LITRE
Many countries in the world taxes petrol to the high-heaven, while in Turkmenistan they give it away. Every driver in the state are entitled to 120 litres free petrol per month, If they exceed this, the pump price is still only $0.146 US Per litre (RS 9.40 PER LITRE), forth cheapest in the world.
3. LIBYA — US$ 0.110 PER LITRE
Libya is the ninth largest oil producer in the world producing 41 billion barrels of oil per year. Almost 80% The Libyan economy depends primarily upon revenues from the oil sector. It is 3th Cheapest Petrol Country in the World with a petrol price of just $0.110 US(Rs 7.05 per litre).
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2. SAUDI ARABIA — US$ 0.096 PER LITRE
Saudi Arabia is the biggest oil-producing Muslim country and largest exporter of petroleum in the world. Saudi Arabia Hold the 20% of the world’s oil reserves ensures that the petrol prices in the country will remain one of the cheapest in the world. Here per liter petrol price is $0.096 US per litre (Rs 6.20 per litre).
1. VENEZUELA — US$0.031 PER LITRE
Petrol prices in the venezuela is most cheapest in the world. you can get one liter petrol in just $0.031 US (RS 2 PER LITRE).Venezuela is the sixth largest member of OPEC by oil production. Country is claimed to have the one of the most proven oil reserves in the world than all other countries around the world. 50% of the country’s economy is depends on petroleum export and roughly 95% of total exports.