Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

Company Symbol % Change
Chevron Corp CVX:US 0.35
ConocoPhillips COP:US 0.60
BP PLC BP/:LN 0.59
Exxon Mobil Corp XOM:US -0.42
Hess Corp HES:US 0.67
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Brazil

Price per gallon of gasoline: $5.40
Rank by most expensive gas: 39
Rank by pain at the pump: 20

Brazil is one of the Earth's natural-resource superpowers, and oil is no exception, with more than 2.3 million barrels pumped every day. The country is also a world leader in biofuels, boasting the highest rates of ethanol use.

Petroleo Brasileiro SA, Brazil's state-controlled oil company, will raise gasoline prices at refineries by 6.6 percent, according to a Securities and Exchange Commission filing in January. That translates to about a 4.4 percent price bump at the pump and will increase demand for ethanol.

The price of gas in Brazil is just below the global average, but the modest average income makes for noticeable pain at the pump. The average daily income is $35. The share of a day's wages needed to buy a gallon of gas is 16 percent.

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