Kuwait ranks 6th in the world with cheapest petrol prices

Dubai: Kuwait has been ranked 6th in the world with the cheapest petrol prices, costing $1.57 (Dh5.77) per gallon of petrol, local media reported.

The ten countries with the most affordable petrol prices include five Arab countries – Libya, Iran, and Syria and Algeria and Kuwait.

Venezuela ranked first in the world with the cheapest petrol prices costing $0.11 per gallon, $5.95 cheaper than the global average, followed by Libya, with the cost per gallon being only $0.15. Iran has the third-cheapest fuel price per gallon ($0.23), considerably less than Syria ($1.08-the fourth cheapest) and Algeria fifth cheapest with $1.20.

The top 3 countries with the most expensive gas prices include Hong Kong in the first place, followed by the Netherlands and Norway. The price of a gallon petrol is $13.10 – double the global average and $1.15 more than the second most expensive place.

In the Netherlands petrol costs $11.75 per gallon and Norway $11.36.

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.