Ghana’s ranking on the list of cheapest countries to buy petrol will interest you

pulse-ghana admin

January 11, 2018 5:42 PM

Average retail price for gasoline was $ 0.93 (4.25 GHC) per liter

The average price of petrol around the world is $1.12 per liter according to the report which tracks retail fuel prices around the world of over 150 countries on a weekly basis.

The average value for Ghana during that period was 0.93 U.S. Dollar with a minimum of 0.89 U.S. Dollar on 02-Oct-2017 and a maximum of 0.95 U.S. Dollar on 30-Oct-2017.

For comparison, the average price of gasoline in the world for this period is 1.47 U.S. Dollar.

Other countries among the cheapest places to buy petrol are Venezuela, $0.01; Turkmenistan, $0.29; Kuwait, $0.35; Iran, $0.36; Egypt, $0.37; Algeria, $0.37; Ecuador, $0.39; Bahrain, $0.42; and Syria, $0.44.The report said, "As a general rule, richer countries have higher prices, while poorer countries and the countries that produce and export oil have significantly lower prices. The differences in prices across countries are due to the various taxes and subsidies for gasoline (petrol). All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, theretailprice of gasolineis different."In the Global Petrol Prices latest weekly global fuel price review on January 2, 2018, it noted that the international oil benchmark, Brent crude, reached $66.9 per barrel during the past week.It stated that "The crude oil price increase pushed up the retail fuel prices around the world and the world average gasoline (petrol) price increased to a level of $1.09 per liter. The world average diesel price also wentupby a cent."

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