10 Countries With Lowest Fuel Price That Will Surprise You

We live in a world where without fuel living would be one of the biggest hassle. For all the right reasons? Indeed for all the right reasons. Fuels are the lifeline of all kinds of transportation modes. Everyone prefers to go via vehicle to even the closest of places and seldom anyone wants to walk. Therefore it goes without saying the prices of fuels are sure to be raging.

Here in India, petrol prices never seem to go down, do they? Furthermore, it would not be wrong to say that the hardest-hit commodity of inflation is fuel. No wonder we have become accustomed to spending huge amounts of money on fuel. It is saddening but it is a necessity. But have you ever wondered about countries with the lowest fuel prices?

Here is a curated list of the ten countries with the lowest fuel prices. Have a look. 

1. Venezuela

While overall a rather impoverished nation, Venezuela is one of those countries that are rich in their fuel reserves. This makes it the cheapest country from where one can buy fuel. In Venezuela, gasoline costs just about 0.1 VEF meaning Venezuelan Bolivar which is 0.004 USD meaning US Dollars for the first 120 liters. Interestingly, after this, the fuel costs $0.50 per liter.

2. Iran

Iran is another oil-rich country on the list of plenty. If we talk about the price of the first 50 liters of fuel in Iran it is about 15000 IRR meaning Iranian Rial which is 0.029 USD meaning US Dollars. Interestingly, after this, the fuel costs $0.58 per liter.

3. Libya

Bordered by the Mediterranean Sea to the north, Egypt to the east, Chad to the south, and Algeria to the west Libya is a North African country. Here gasoline will cost you about 0.15 LYD meaning Libyan Dinar which is 0.031 USD per liter.

4. Angola

Angola is an African nation that secures the fourth spot when it comes to countries with the lowest fuel prices. The price of 1 liter of gasoline in Angola is about 160 AOA meaning Angolan Kwanza which is 0.305 US Dollars per liter.

5. Algeria

The Middle East is the hub of fuel and fossil reserves thus it goes without saying that the majority of its countries will feature on this list. Algeria is another Middle Eastern nation that has huge oil reserves. The price per liter of gasoline in Algeria is 45.97 DZD meaning Algerian Dinar which is 0.338 USD per liter.

6.  Kuwait

Kuwait’s GDP entirely relies on its fuel exports. The price of gasoline in Kuwait is 0.11 KWD meaning Kuwaiti Dinar which is 0.342 USD per liter. This tally is as of May 15th, 2023.

7. Egypt

As per Worldometer, Egypt has proven reserves equivalent to 13.7 times its annual consumption. The rate of gasoline in Egypt is 11.30 EGP meaning Egyptian Pounds. This makes for about 0.372 USD per liter.

8. Turkmenistan

Turkmenistan is another country that makes it to the list of countries with the lowest fuel prices. In Turkmenistan, the price of gasoline per liter is 1.5 New Manat meaning 0.428 USD per liter.

9. Malaysia

Malaysian pumps also offer fuels at very negligible prices. There for about 1 liter of fuel, you are supposed to pay 2.05 MYR meaning Malaysian Ringgit. This is equivalent to 0.456 USD per liter.

10. Kazakhstan

Kazakhstan is at number 10 when it comes to countries with the lowest fuel prices. Per liter fuel cost there is 215.9 KZT meaning Kazakhstan Tenge. This is equivalent to 0.428 USD per liter.

So these were the top 10 countries that we came up with. What are your thoughts on it? Do share them via the comments below.