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Highest & Cheapest Gas Prices by Country

By Tom Randall - 2012-08-13T22:00:03Z

Photograph by SIME/eStock Photo

Company Symbol % Change
22 of 63

Brazil

Price per gallon of premium gasoline: $6.92
Price change since last quarter: +8%
Most-expensive-gas rank: #21
Pain-at-the-pump rank: #13
<p>Brazil is one of the earth's natural resource superpowers. Oil is no exception to the country's riches, with more than 2.3 million barrels pumped there every day. Brazil is also a world leader in biofuels, boasting the highest rates of ethanol use.</p><p>Gas prices in Brazil rose considerably in the last quarter, in contrast to declines across the globe. Petrobras, Brazil's state-owned oil company, was allowed to increase wholesale prices. At the same time, the price of ethanol soared as the worst U.S. drought in decades drove up the price of corn.</p><p>A gallon of gas in Brazil now costs more than the global average, and a modest average income means the price weighs heavily on Brazilians. The average daily income is $34. The share of a day's wages needed to buy a gallon of gas is 20 percent.

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