New Study Rated Nigeria As 8th Country With Cheapest Petrol Globally, Costing $1.82 Per Gallon
LAGOS MAY 12TH (NEWSRANGERS)-A new study has rated Nigeria as the 8th country with the most affordable petrol price in the world, costing $1.82 per gallon of petrol.
Recent findings released by Digiloft, a United Kingdom based organization signed by its Digital PR Executive, Elisabetta Minin made available to NewsRangers disclosed that gas prices have fluctuated significantly all around the world, adding that drivers will be paying very different prices for gas this year which is why the team at Zutobi have carried out research to reveal the most expensive (& cheapest) countries around the world for fuel prices.
BELOW IS THE RESEARCH
The 10 countries with the most affordable gas prices:
| Rank | Country | Price of a litre of Petrol ($) | Price of a gallon of Petrol ($) |
| 1 | Venezuela | $0.03 | $0.11 |
| 2 | Libya | $0.03 | $0.15 |
| 3 | Iran | $0.05 | $0.23 |
| 4 | Syria | $0.32 | $1.44 |
| 5 | Algeria | $0.32 | $1.46 |
| 6 | Kuwait | $0.35 | $1.57 |
| 7 | Angola | $0.35 | $1.60 |
| 8 | Nigeria | $0.40 | $1.82 |
| 9 | Kazakhstan | $0.41 | $1.86 |
| 10 | Turkmenistan | $0.43 | $1.95 |
Venezuela ranked first as it costs $0.11 per gallon which is $5.95 cheaper than the global average.
Libya comes in as the second cheapest, with the cost per gallon being only $0.15.
Iran has the third-cheapest fuel price per gallon ($0.23) which is considerably less than Syria (the fourth-cheapest).
The 5 countries with the most expensive gas prices:
| Rank | Country | Price of a litre of Petrol ($) | Price of a gallon of Petrol ($) |
| 1 | Hong Kong | $2.88 | $13.10 |
| 2 | Netherlands | $2.58 | $11.75 |
| 3 | Norway | $2.50 | $11.36 |
| 4 | Monaco | $2.49 | $11.34 |
| 5 | Zimbabwe | $2.35 | $10.70 |
The study also looked at where in the world you can find the best value for gas: Hong Kong has the highest price of petrol anywhere in the world. The price of a gallon is $13.10 – double the global average and $1.15 more than the second most expensive place!
FURTHER FINDINGS:
- The cost per gallon of fuel is less than a dollar in only three countries:Venezuela, Libya and Iran.
- Only four countries have prices of over $11 per gallon of gas: Hong Kong, the Netherlands, Norway, and Monaco.
- Iran has seen the biggest decrease in gas prices anywhere in the world over the past half-decade. Prices have been slashed by almost 3,000%.
- The price of petrol in Saudi Arabia has risen by almost 300% in the last 5 years, making it the country that has seen the biggest increase in fuel prices in the world.
The full findings can be viewed here: https://zutobi.com/us/driver-guides/the-zutobi-global-gas-index
Short URL: https://newsrangers.com/?p=87626
Posted by News Rangers
on May 12 2022. Filed under Business, National.
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