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World's cheapest gas: Top 10 countries
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While Americans and Europeans bemoan the cost of gasoline at the pumps, people in some other parts of the world enjoy filling up their tanks cheaply thanks to subsidies provided by wealthy, oil-rich governments. But fuel subsidies tend to benefit the rich (who own motor vehicles) more than the poor. The IMF estimated that 65 percent of the fuel subsidies in Africa benefit the richest 40 percent of households (2010). Only 8 percent of the $410 billion in government fuel subsidies worldwide went to the poorest 20 percent of the population (International Energy Agency - estimates, 2010).
The British insurance firm Staveley Head has released the latest list of the world’s gas pump prices. Here are the 10 cheapest countries on Earth to fill a gas tank.
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While Americans and Europeans bemoan the cost of gasoline at the pumps, people in some other parts of the world enjoy filling up their tanks cheaply thanks to subsidies provided by wealthy, oil-rich governments. Here are the 10 cheapest countries on Earth to fill a gas tank.
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By Michail Vafeiadis , Contributor Girish Gupta , Contributor Leigh Montgomery , Staff
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