The globe has evolved, and gas prices in the United States, Nigeria, and the rest of the world have fluctuated. As a result, people learning to drive and getting on the road this year, as well as seasoned drivers, will pay vastly different gas (Fuel as called in other countries) rates.

This report takes into account the rest of the world. As a result, gas prices in over 150 nations and territories have been examined in order to determine where in the world the best value for money can be found.

Furthermore, we looked at historical gas prices in a lot of countries to figure out which countries saw the biggest and smallest increases in gas prices over time.

A Report on Global Gas

The cheapest gas-producing countries

1 – A gallon of gasoline costs $0.11 in Venezuela.

Venezuela has the world’s largest known deposits of crude oil, so it’s no surprise that gasoline is so inexpensive in the South American country. It is $5.95 cheaper per gallon than the global average and one of only three countries where the price is less than a dollar.

Libyan petrol costs $0.15 per gallon.

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Another oil-rich country ranks second, with oil accounting for 97% of total exports. Because there is so much oil, gasoline is cheap, costing only $0.15 per gallon.

Iran: $0.23 per gallon of gasoline

Iran has the third-lowest per-gallon fuel price in the world, at $0.23 per gallon, significantly cheaper than Syria (the fourth-cheapest). Despite international sanctions, the country still makes a lot of oil, which keeps prices low.

In this category, according to the report by Zutobi Nigeria the giant of Africa stands at number eight with the cheapest fuel pricing at $1.82 per gallon.

The countries with the highest gas prices

1 – A gallon of gasoline costs $13.10 in Hong Kong.

The price of gasoline in Hong Kong is the highest in the world; a gallon costs $13.10 in the special administrative area. This is $1.15 more than the second most costly place, and more than double the global average.

2—Fuel costs $11.75 per gallon in the Netherlands.

The Netherlands is the second most expensive country in the world for gas, with a current price of $11.75 a gallon, making it the most costly country in the Western world. In the Netherlands, the price is $5.69 higher than the global average.

Norway is number three, with a gasoline price of $11.36 per gallon.

Norway is just the third most costly country in terms of gasoline prices, at $0.39 less than the Netherlands. Norwegians spend an average of $11.36 a gallon, making them one of just four countries with prices above $11.

Changes in gas prices around the world

Countries where gas prices have dropped the most

Iran is the undisputed leader.

Price: $1.68 per gallon of gasoline in 2017; $0.23 per gallon of gasoline in 2022; a price decrease of 2843.53 percent in 5 years.

Iranians have benefited from the largest drop in gas (fuel) prices anywhere in the globe during the last half-decade. Prices have been reduced by approximately 3,000%, which is nearly three times the next largest decrease.

Syria (no. 2)

Over a five-year period, the price has decreased by 1027.19%. Gasoline cost $4.68 per gallon in 2017. 2022 price: $1.44 per gallon of gasoline.

Syria is another country where the price of gasoline has dropped by a four-digit percentage. Even though there is still a civil war going on, the average price of a gallon of gas has dropped a lot since 2017.

Angola is ranked third.

Gasoline cost $4.32 per gallon in 2017. The price of gasoline in 2022 will be $4.32 per gallon. Petrol costs $1.60 per gallon, representing a 775.81 percent decrease in five years.

Angola is still a long way behind Syria and Iran in terms of gasoline prices, but it has decreased far more than Russia, which is in the fourth position. The average cost of a gallon of gasoline in the West African country was $4.32 in 2017, but it is currently only $1.60.

Countries with the highest gas price increases:

Saudi Arabia is the undisputed leader.

Price in 2017: $1.09; Price in 2022: $2.82; Price increase in 5 years: 278.91%

Despite having one of the world’s greatest crude oil reserves, Saudi Arabians are now paying far more for a gallon of gasoline than five years ago. The price of gasoline has increased by roughly 300 percent.

2. Venezuela

In 2017, the price was $0.05.

In 2022, the price was $0.11. Prices have risen by 272.77 percent in the last five years.

Despite having the world’s lowest gasoline prices, prices in Venezuela have climbed by almost 272.77 percent in the last five years. However, because it costs about $1.32 to fill up an average-sized car’s tank, I think that drivers will be able to get around this.

3. Myanmar

In 2017, the price was $2.68; in 2022, the price was $5.76.

The price has increased by 242.91 percent in the last five years.

The Republic of Myanmar has had the third-highest increase in the average price of gasoline in the world, rising from $2.68 per gallon to $5.76 per gallon over the last five years.

In each country, how far can you travel for $50?

The Toyota Corolla is the best-selling car in the world, so it was used to assess how far you can travel in each country on $50 worth of gas. The MPG of a gasoline-powered Corolla is up to 44.8, so the number of gallons available for $50 was multiplied by this figure to determine how far you could travel.

Naturally, the cheapest countries in terms of fuel are those in which you can travel the greatest distance for $50. In Venezuela, this money would buy 439.94 gallons of gasoline, allowing you to travel 19,709 miles. On the other hand, drivers in Hong Kong may only travel 171 miles for the same amount of money, as $50 only buys 3.82 gallons of gasoline. In the meantime, you could go 706 miles on average for $50.

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