Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

Company Symbol % Change
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Price per gallon of premium gasoline: $6.41
Price change since last quarter: -5%
Most-expensive-gas rank: #29
Pain-at-the-pump rank: #54
<p>Shoppers in Australia are opening their wallets after the country's most-prolonged consumer slump. The decline in gas prices helps, as does a tax break to offset a new levy on carbon emissions.</p> <p>Household costs will rise an average of A$9.90 ($10.46) a week because of a carbon levy introduced on July 1, according to Australia's Treasurer, Wayne Swan. Offsets through tax cuts and benefits payments will average A$10.10 a week. The plan will increase prices on fossil-fuel-powered electricity, and the country expects to raise A$24.7 billion over four years.</p><p>Australia, the seventh-biggest consumer of gasoline, paid more than $7 billion to subsidize oil in 2010. With an average daily income of $188, the share of a day's wages needed to buy a gallon of gas is 3.4 percent.

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