Top 10 Countries Selling the Cheapest Petrol in the World

Fuel affordability is one of the major economic considerations of most countries as oil prices go up and down around the world. The countries have the lowest petrol prices owing to the local oil production, subsidies and government policies that are meant to favor the consumers and industries. On the contrary, other people pay a lot in terms of taxes and the cost of imports. The list of the top 10 countries in which petrol is the cheapest in the world provides information about the dynamics of energy in the region and the benefits of consumers.

Top 10 Cheapest Petrol Markets (per litre, USD)

RankCountryPrice (USD)Key Factor
1Venezuela$0.02Heavy government subsidies
2Libya$0.03State-controlled pricing
3Iran$0.05Oil-rich with subsidies
4Algeria$0.35Domestic production
5Kuwait$0.35Major oil exporter
6Angola$0.37Local refining capacity
7Nigeria$0.41Subsidized fuel system
8Egypt$0.44Partial fuel subsidies
9Malaysia$0.46Controlled retail prices
10Kazakhstan$0.48Government price regulation
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