Does America have the cheapest gas in the world?



  1. 0 Votes

    Not even close.  While there are many countries that have much higher gas prices than the US, Venezula has some of the lowest gas prices.  I could not find current data on the gas price in Venezuela, but in 2008 consumers were paying about 12 cents a gallon. 

    I also found a table of gas prices from 2005 the most expensive at that time was the Netherlands at $6.48 a gallon, and Saudi Arabia, Kuwait, Egypt, Nigeria and Venezuela all came in under $1 a gallon.

  2. 0 Votes

    The price of gasoline is related directly to the price of oil, and oil’s global pricing means that the price of oil is similar everywhere. So why are there such huge variations in the price of gasoline? It is mostly because of two things. The nations where gasoline costs a lot more than in the US (Europe, especially) have really large national taxes on gasoline. Conversely, in the nations where gasoline costs much less than in the US, typically the government there subsidizes the cost, making it low for the consumer while the nation itself (or its oil companies) takes financial losses on the oil they buy at market prices.

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