Special Report

Countries With the Lowest Gas Prices in the World at the Start of 2023

Ulet Ifansasti / Getty Images News via Getty Images

The average price of gasoline around the world is $4.94 a gallon, according to GlobalPetrolPrices.com. However, there is a wide difference in these prices among countries.

To identify the countries with the lowest gas prices at the start of 2023, 24/7 Wall St. reviewed the average price of gasoline in gallons in 168 countries from retail energy price data tracking website GlobalPetrolPrices.com. We considered the 36 countries with the lowest prices as of Jan. 23, 2023, starting with the United States. Population data is for 2021 and came from the World Bank’s World Development Indicators database. 

Gasoline prices are determined by crude oil cost, refining cost, distribution cost (wholesale and retail), and taxes. Because oil is a commodity on worldwide markets, countries generally have access to crude petroleum and refined oil products at similar prices in international markets. The distribution cost is relatively small, according to GlobalPertrolPrices.com, which leaves taxes as the main difference in gas prices across countries.

Once countries produce or import gasoline, they can choose to impose different taxes (excise, value-added, sales) or provide subsidies, which then account for much of the differences in prices across countries. The same holds true for different gas prices in U.S. states. 

In general, richer countries have higher gasoline prices than poorer nations and the countries that produce and export oil. The price of a gallon of gasoline in Hong Kong is $11.16, the most expensive on the planet. Six European nations – Norway, Iceland, Denmark, Monaco, Greece, and Finland – have among the 10 most expensive gasoline prices in the world. The price of gasoline in oil-rich Venezuela is subsidized and is the cheapest in the world at just 6 cents a gallon. (This is the country that has the most oil.)

The U.S. is a notable outlier as an advanced nation with relatively low gasoline prices. Prices in the Western states are about 20% higher than the national average, and in California, they are about 50% higher. The prices in the Midwest and the South are about 5% to 10% lower than the national average. In the Northeast, prices are about 5% higher. (This is the price of gas every year since 1990.)

Click here to see countries with the lowest gas prices in the world at the start of 2023.

Source: Brandon Bell / Getty Images News via Getty Images

36. United States
> Gasoline prices, Jan 23, 2023: $3.74 / gallon
> Population: 331,893,745

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Source: Lukas Bischoff / iStock via Getty Images

35. Uzbekistan
> Gasoline prices, Jan 23, 2023: $3.72 / gallon
> Population: 34,915,100

Source: Ricardo Ceppi / Getty Images News via Getty Images

34. Argentina
> Gasoline prices, Jan 23, 2023: $3.71 / gallon
> Population: 45,808,747

Source: Public Domain / Wikimedia Commons

33. Belarus
> Gasoline prices, Jan 23, 2023: $3.69 / gallon
> Population: 9,340,314

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Source: Linh Pham / Getty Images News via Getty Images

32. Vietnam
> Gasoline prices, Jan 23, 2023: $3.68 / gallon
> Population: 97,468,029

31. Morocco
> Gasoline prices, Jan 23, 2023: $3.67 / gallon
> Population: 37,076,584

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30. Brazil
> Gasoline prices, Jan 23, 2023: $3.62 / gallon
> Population: 214,326,223

29. Pakistan
> Gasoline prices, Jan 23, 2023: $3.53 / gallon
> Population: 231,402,117

Source: Courtesy of Sol- Grand Anse Gas Station via Facebook

28. Grenada
> Gasoline prices, Jan 23, 2023: $3.45 / gallon
> Population: 124,610

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Source: Ulet Ifansasti / Getty Images News via Getty Images

27. Indonesia
> Gasoline prices, Jan 23, 2023: $3.30 / gallon
> Population: 273,753,191

Source: jrothe / iStock via Getty Images

26. Suriname
> Gasoline prices, Jan 23, 2023: $3.28 / gallon
> Population: 612,985

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25. Afghanistan
> Gasoline prices, Jan 23, 2023: $3.19 / gallon
> Population: 40,099,462

24. Tunisia
> Gasoline prices, Jan 23, 2023: $3.09 / gallon
> Population: 12,262,946

Source: Public Domain / Wikimedia Commons

23. Kyrgyz Republic
> Gasoline prices, Jan 23, 2023: $2.88 / gallon
> Population: 6,691,800

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22. Russian Federation
> Gasoline prices, Jan 23, 2023: $2.83 / gallon
> Population: 143,449,286

Source: Tom Dulat / Getty Images News via Getty Images

21. United Arab Emirates
> Gasoline prices, Jan 23, 2023: $2.75 / gallon
> Population: 9,365,145

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20. Ecuador
> Gasoline prices, Jan 23, 2023: $2.40 / gallon
> Population: 17,797,737

Source: Courtesy of Oman Oil Marketing Company via Facebook

19. Oman
> Gasoline prices, Jan 23, 2023: $2.35 / gallon
> Population: 4,520,471

Source: Mohammed Hamoud / Getty Images News via Getty Images

18. Saudi Arabia
> Gasoline prices, Jan 23, 2023: $2.35 / gallon
> Population: 35,950,396

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17. Azerbaijan
> Gasoline prices, Jan 23, 2023: $2.23 / gallon
> Population: 10,137,750

Source: Gabriel Aponte / Getty Images News via Getty Images

16. Colombia
> Gasoline prices, Jan 23, 2023: $2.21 / gallon
> Population: 51,516,562

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15. Qatar
> Gasoline prices, Jan 23, 2023: $2.18 / gallon
> Population: 2,688,235

Source: Public Domain / Wikimedia Commons

14. Bolivia
> Gasoline prices, Jan 23, 2023: $2.05 / gallon
> Population: 12,079,472

Source: Leonid Andronov / iStock via Getty Images

13. Bahrain
> Gasoline prices, Jan 23, 2023: $2.01 / gallon
> Population: 1,463,265

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Source: Oleg Nikishin / Getty Images News via Getty Images

12. Iraq
> Gasoline prices, Jan 23, 2023: $1.95 / gallon
> Population: 43,533,592

11. Malaysia
> Gasoline prices, Jan 23, 2023: $1.81 / gallon
> Population: 33,573,874

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10. Kazakhstan
> Gasoline prices, Jan 23, 2023: $1.73 / gallon
> Population: 19,000,988

9. Nigeria
> Gasoline prices, Jan 23, 2023: $1.68 / gallon
> Population: 213,401,323

Source: mtcurado / iStock via Getty Images

8. Turkmenistan
> Gasoline prices, Jan 23, 2023: $1.62 / gallon
> Population: 6,341,855

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Source: Nirian / iStock via Getty Images

7. Egypt, Arab Rep.
> Gasoline prices, Jan 23, 2023: $1.36 / gallon
> Population: 109,262,178

Source: Francis Dean / Corbis News via Getty Images

6. Kuwait
> Gasoline prices, Jan 23, 2023: $1.30 / gallon
> Population: 4,250,114

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5. Algeria
> Gasoline prices, Jan 23, 2023: $1.28 / gallon
> Population: 44,177,969

Source: Eric Lafforgue/Art in All of Us / Corbis News via Getty Images

4. Angola
> Gasoline prices, Jan 23, 2023: $1.20 / gallon
> Population: 34,503,774

Source: John Moore / Getty Images News via Getty Images

3. Iran, Islamic Rep.
> Gasoline prices, Jan 23, 2023: $0.20 / gallon
> Population: 87,923,432

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2. Libya
> Gasoline prices, Jan 23, 2023: $0.12 / gallon
> Population: 6,735,277

Source: Susana Gonzalez / Getty Images News via Getty Images

1. Venezuela, RB
> Gasoline prices, Jan 23, 2023: $0.06 / gallon
> Population: 28,199,867

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