Highest & Cheapest Gas Prices by Country

By Tom Randall - 2013-02-13T13:11:46Z

Photograph by SIME/eStock Photo

Company Symbol % Change
Exxon Mobil Corp XOM:US -0.68
Hess Corp HES:US -3.87
Chevron Corp CVX:US -0.41
ConocoPhillips COP:US -1.77
BP PLC BP/:LN -0.13
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Price per gallon of gasoline: $9.89
Rank by most expensive gas: 1
Rank by pain at the pump: 7

Turkey's $800 billion economy is the biggest in Eastern Europe, but the world's most expensive gas doesn't make driving easy for Turks. The average daily income is $30, and it takes a third of a day's wages to buy a gallon of gas. So Turks don't buy much gas.

The country's long history of poor tax compliance has been an obstacle to its development. About 40 percent of the country's workers are part of an informal economy that pays no taxes, according to the World Bank. Only about 4 percent of the total population pays personal income tax.

In recent years Turkey has increased its revenue base through consumption taxes like a fuel tax, which is relatively easy to enforce. The country has one of the highest gas taxes, which accounts for more than half of the cost to fuel up.

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