Gasoline prices in the United Arab Emirates are the sixth cheapest in the world. This was revealed by new data collected by Bloomberg. According to it, petrol in the UAE is five times cheaper compared to petrol in Norway, where prices are the highest in the world.
Bloomberg has estimated that the price of a gallon of gasoline in the United Arab Emirates is offered for $1.77 on the average. The research pays a lot of attention on the country’s attempts to diversity its economy over the last few years. In addition, it mentions that the UAE has managed to cut down its oil and gas dependence by 25%.
Despite that, the United Arab Emirates continues to maintain its reputation of a leading oil producer. According to Bloomberg, a gallon of gas in the country costs only 1.5% of the average daily wage.
However, the most affordable petrol in the world can be found in Venezuela. There a gallon of gas will cost you just $0.04 or barely 0.13 of the average day’s wage. Gas prices in Saudi Arabia and Kuwait are also in the top three. A gallon of petrol in Saudi Arabia costs around $0.45, where as in Kuwait it is offered for $0.81.
The majority of the countries where gas comes at a low price are located in the MENA. The only exceptions are Venezuela (1), Malaysia (8), Russia (9) and Mexico (10).
In contrast, European countries dominate Bloomberg’s list with the world’s most expensive petrol. Norway’s gas is the priciest in the world – $9.79. That is why electric vehicles enjoy a huge popularity in the country. Still, Norwegians have the second highest income on the globe and a gallon of gas is only 3.6% of their daily wage.
Second on this ranking is the Netherlands, where a gallon of petrol costs $9.46. Similar to people in Norway, the Dutch have found their own transportation alternative – bicycles. The Netherlands
Is followed by Italy. There, gas prices reach an average of $9.34 per gallon after it jumped by 8.5% in the last few months.
Denmark’s Copenhagen is known as the world’s most bike-friendly city. Given the petrol prices of $9.14, it is no wonder.
Gas is also quite expensive in Greece. However, unlike the previous countries, Greeks need to sacrifice 14% of their day’s wage to fill up their gas tanks. But Indian drivers are even more financially challenged since they have to work more than one day if they want to get a gallon of gas.
