As petrol prices continue to surge around the world, we reveal the cheapest and most expensive countries to fill your car with 95RON unleaded.
As the price of petrol continues to surge across Australia – thanks in large part to the ongoing war in Ukraine – it’s worth stopping to take a look at the price of petrol around the world.
Nationally, the average price of 91 octane petrol this week is $2.14 per litre, 95-octane $2.24 per litre, 98-octane $2.34 per litre, and diesel is $2.22 per litre – and while that undoubtedly is hitting the hip pocket of average Aussies everywhere, Australia still ranks amongst the cheaper countries in the world top fill up your tank.
According to weekly data released by respected fuel authority Global Petrol Prices, the price of petrol in Australia has increased by 17.7 per cent since the start of the year, while diesel fared even worse at 23.9 per cent.
Global Petrol Prices has the average price of 95 RON unleaded petrol pegged at $2.125 per litre in Australia as at 21 March, a healthy dose above the global average of $1.80.
Still, on the world stage, Australia stacks up pretty well.
The most expensive country to buy unleaded last week was Hong Kong with a per-litre price of $3.894 (all prices are in Australian dollars) while in the Netherlands, motorists are paying $3.493 per litre.
Those prices are in stark contrast to the cheapest places in the world to buy petrol.
Venezuela leads the charge with a per-litre price for 95RON unleaded of just $0.034. Yes, that’s 3.4 cents per litre, thanks to massive subsidies provided by the government.
And if that seems cheap, spare a thought for those poor Venezuelans who in October of last year were hit with government-mandated 20-fold price hike. Previously, a litre of unleaded cost locals just 1.3c.
In the United States, Americans are slugged an average of $1.656 at the pump while in the UK, motorists fork out an average of $2.966 per litre of 95RON unleaded.
Europeans generally pay more at the pump than Australians. The price in France is an average of $2.891 per litre while Germans hand over $3.109.
Ironically, despite global economic sanctions against it, Russia remains amongst the cheapest nations in the world to buy petrol, one litre of unleaded priced at just $0.654 per litre. That’s almost a third of what embattled Ukrainians are paying currently, a litre of unleaded asking for $1.586.
A combination of a nation’s oil reserves, government subsidies or conversely, fuel taxes, contribute to the wild disparity in prices, with developed nations paying far more at the pump than developing nations.
The 10 cheapest countries to buy petrol this week (all prices in Australian dollars)
| Country | Price for one litre of 95RON unleaded |
| Venezuela | $0.034 |
| Libya | $0.044 |
| Iran | $0.069 |
| Syria | $0.427 |
| Algeria | $0.435 |
| Kuwait | $0.467 |
| Angola | $0.474 |
| Nigeria | $0.541 |
| Kazakhstan | $0.552 |
| Turkmenistan | $0.579 |
| Country | Price for one litre of 95RON unleaded |
| Lichtenstein | $3.081 |
| Germany | $3.109 |
| Italy | $3.124 |
| Finland | $3.146 |
| Denmark | $3.156 |
| Zimbabwe | $3.181 |
| Monaco | $3.371 |
| Norway | $3.376 |
| Netherlands | $3.493 |
| Hong Kong | $3.894 |
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