Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

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Price per gallon of premium gasoline: $6.47
Price change since last quarter: -14%
Most-expensive-gas rank: #27
Pain-at-the-pump rank: #36
<p>Spain had the fifth-biggest price drop in the Bloomberg Gas Price Ranking as the country's recession worsened.</p><p>The toughest budget cuts since Spain transitioned to democracy in the 1970s pushed the economy into a third consecutive quarter of contraction, according to the Bank of Spain. Wages declined, and gas consumption fell 2.9 percent in June from a year earlier, according to Corporacion de Reservas Estrategicas de Productos Petroliferos, or Cores.</p><p>The average daily income is $82. The share of a day's wages needed to buy a gallon of gas is 7.9 percent.

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