Surprise International Report: Egypt among the cheapest countries in the price of gasoline

Despite constant complaints from Egyptian citizens to fuel prices, but recently published "Global Oil Prices", it has been found that Egypt is among the cheapest countries in the sale of fuel.

According to the latest Global Petroleum PricevaterhouseCoopers, the average price of gasoline reached $ 1.15 on November 12th.

The report shows that prices in rich countries are high in comparison with poor countries, while oil producers and exporters, where prices are much lower.

The report states that price differences in different countries are due to government support and the size of taxes, as all countries buy fuel at the same price, and then vary prices between countries after tax.

Arab countries

In Saudi Arabia, gasoline prices in Sudan are the smallest and the second in the world, the price per liter is $ 0.13.

Kuwait is the second-largest country in the world with a price of 0.34 d / d, followed by Algeria (fifth in the world) to 0.35 d / L).

The highest price is Yemen (1.58 L), Jordan (1.49 L), Morocco (1.20 L), followed by Lebanon (0.90 L / L).

Ranking countries globally at the price of gasoline

On a global scale, ranking in the top 10 countries is the following (starting with the least):

Venezuela

Sudan

Iran

Kuwait

Algeria

Ecuador

Nigeria

Turkmenistan

Egypt

Azerbaijan

The countries with the highest price in petrol prices are the following (starting with the most expensive):

Hong Kong

Barbados

Norway

And the Sovereign

Italy

Monaco

Iceland

Greece

Netherlands

Israeli entity

State of the oil

For a country exporting oil, such as Saudi Arabia, the price of fuel is low, at a price of $ 0.54 / d. At the beginning of this year, Riyadh announced a significant increase in gasoline prices.

In the United Arab Emirates, gasoline was sold at 0.67 d / d. UAE, the second-largest Arab economy, has preceded all Arab countries in releasing fuel prices in August 2015.

The success of UAE's experience has encouraged other Arab countries to take similar steps.

Governments such as Jordan, Tunisia and Iraq say they want to reduce fuel subsidies in order to cope with high deficits in their budgets, while actually selling them more than world prices.

It is noteworthy that some Arab countries change prices on a monthly basis, such as UAE, Bahrain, Oman, Jordan and Qatar (Lebanon sets prices per week).

On the other hand, Egypt, Saudi Arabia, Kuwait, Syria, Yemen, Libya, Iraq and Algeria make decisions whenever necessary.