In a recent report, the “Funeuse” website unveiled Kuwait’s position as the sixth country worldwide and the third in the Arab world with the most affordable gasoline prices. According to the latest fuel price adjustments made on the 15th of this month, the cost of one liter of gasoline in Kuwait amounts to approximately 0.11 dinars, equivalent to 0.342 dollars, reports Alanba Daily.
The report highlighted the impact of inflation on commodity prices, particularly fuel, which is significantly affected by inflation and its consequences. While the global average for fuel prices stands at $1.3 per liter (equivalent to 1.19 euros per liter), Kuwait stands out for its remarkably low gasoline prices.
The website provided a list of countries with the cheapest gasoline prices, demonstrating the favorable position of Kuwait:
- Venezuela: The first 120 liters are priced at 0.1 Venezuelan bolivars or 0.004 dollars, and thereafter, the price increases to 0.5 dollars per liter.
- Iran: The first 60 liters are priced at 15,000 Iranian tomans or $0.29, and then the price doubles to $0.58.
- Libya: The price of one liter is 0.15 Libyan dinars or 0.031 dollars.
- Angola: The price of one liter is 160 Angolan kwanzas or $0.035.
- Algeria: The price of one liter is 45.97 Algerian dinars or 0.338 dollars.
- Kuwait: The price of one liter is 0.11 dinars or 0.342 dollars.
- Egypt: The price of one liter is 11.30 Egyptian pounds or 0.372 dollars.
- Turkmenistan: The price of one liter is 1.5 new manats or 0.428 dollars.
- Malaysia: The price of one liter is 2.05 Malaysian ringgit or 0.456 dollars.
- Kazakhstan: The price of one liter is 0.480 dollars.
On the other hand, the report highlighted the significant price discrepancies among countries, with Hong Kong ranking as the most expensive country for gasoline sales and Switzerland in the tenth position. Here are the top ten countries with the highest gasoline prices:
- Hong Kong: The price of one liter is $2.961.
- The Principality of Monaco: The price of one liter is $2.284.
- Iceland: The price of one liter is $2.142.
- Central African Republic: The price of one liter is $2,190.
- Finland: The price of one liter is $2.142.
- Barbados: The price of one liter is $2.101.
- Norway: The price of one liter is $2.10.
- Denmark: The price of one liter is $2,093.
- France: The price of one liter is $2,067.
- Switzerland: The price of one liter is $2,029.
It is worth noting that Kuwait’s consistently low gasoline prices provide significant benefits to its residents, fostering a favorable environment for transportation and fuel consumption.
The continuous monitoring of fuel prices and international comparisons remain crucial in understanding market dynamics and ensuring economic stability and competitiveness in the energy sector.
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