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Kuwait in the top ten list of countries with the cheapest oil prices
February 4, 2015, 1:22 pm
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Drivers around the world often complain about the cost of fuel being a major part of household spending. In the UAE, residents spend on average US$0.47 per litre, believed to be cheaper than many other countries in the world. However, that’s more than what motorists pay in places like Syria, Algeria, Oman, or even Venezuela.

According to a list compiled by GlobalPetrolPrices.com, as of February 2, residents in Venezuela pay the cheapest amount on gasoline, at US$0.02 per liter. Within the Gulf Cooperation Council (GCC) countries, the price of petrol is the most expensive in the UAE. Saudi Arabia offers the cheapest price in the region at US$0.15 per liter. Kuwait has the second-cheapest fuel price at US$ 0.22 per liter, followed by Bahrain (0.25), Qatar (0.25) and Oman (0.29).

“The price of gas [per liter] at the pump in UAE is around US$0.47. In comparison to the rest of the world, it is quite low. In GCC, it is the highest,” said Alp Eke, senior economist at National Bank of Abu Dhabi.

Some motorists interviewed by Gulf News say the spend an average of Dh100 per week on gasoline. Add to that the cost of Salik, parking and car maintenance fees, and the transportation cost can become a burden to anyone making a meagre salary per month.

“I make four trips a day in Dubai or a total of 25 kilometres. The gasoline expense normally cost me around Dh100 a week or Dh400 a month. Those who have to travel from Sharjah to Dubai definitely spend more,” says one Dubai-based driver.


Gasoline prices as of February 2 (liter, US dollar)

  1. Venezuela- 0.02
  2. Syria- 0.05
  3. Libya- 0.11
  4. Saudi Arabia- 0.15
  5. Turkmenistan- 0.20
  6. Kuwait*- 0.22
  7. Algeria- 0.24
  8. Iran- 0.24
  9. Bahrain – 0.25
  10. Qatar- 0.25
  11. Oman- 0.29
  12. Sudan- 0.32
  13. Brunei- 0.37
  14. Trinidad and Tobago* - 0.43
  15. Malaysia*- 0.47
  16. UAE- 0.47
  17. Nigeria- 0.48
  18. Bolivia*- 0.49
  19. Russia* 0.50
  20. Angola- 0.53
  21. Ecuador-0.58
  22. USA*- 0.59
  23. Indonesia*- 0.64
  24. Yemen*-0.65
  25. Tunisia- 0.68
  26. Botswana- 0.69
  27. Guatemala*- 0.70
  28. Pakistan*- 0.70
  29. Lesotho- 0.71
  30. Namibia- 0.71
  31. Kyrgyzstan*- 0.71
  32. Panama*- 0.72
  33. Taiwan*- 0.74
  34. Belarus*- 0.75
  35. Chad- 0.77
  36. Vietnam*- 0.78
  37. Jamaica*-0.79
  38. Ethiopia- 0.80
  39. Kazakhstan*- 0.80
  40. Egypt*- 0.81
  41. Nicaragua*- 0.84
  42. Gabon- 0.84
  43. Australia*-0.85
  44. Philippines*-0.85
  45. Liberia- 0.85
  46. Iraq- 0.85
  47. Canada*-0.86
  48. South Africa*- 0.87
  49. Cameroon- 0.89
  50. Niger- 0.89
  51. Costa Rica*- 0.89
  52. Bhutan- 0.90
  53. Georgia*- 0.92
  54. Ghana*- 0.92
  55. Togo- 0.92
  56. Uzbekistan- 0.92
  57. R. of Congo- 0.93
  58. Mongolia- 0.93
  59. Azerbaijan*- 0.94
  60. Belize*- 0.94
  61. Afghanistan- 0.95
  62. Kenya*- 0.95
  63. Guyana- 0.95
  64. Swaziland*- 0.96
  65. Mexico- 0.96
  66. Maldives- 0.96
  67. Honduras*- 0.96
  68. Sri Lanka*- 0.97
  69. Colombia- 0.97
  70. China*- 0.98
  71. Moldova*- 0.98
  72. Peru*- 0.99
  73. Ukraine*- 0.99


Check the rest of the prices in GlobalPrices.com
*Prices are up-to-date

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