Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

Company Symbol % Change
Hess Corp HES:US 0.43
ConocoPhillips COP:US 0.17
Exxon Mobil Corp XOM:US 0.22
Chevron Corp CVX:US 0.09
BP PLC BP/:LN -0.29
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Italy

Price per gallon of gasoline: $8.87
Rank by most expensive gas: 4
Rank by pain at the pump: 31

Gasoline prices began to jump shortly after Prime Minister Mario Monti came to power in November 2011. Italy raised gas taxes about 25 percent, to the second-highest in Western Europe after the Netherlands, as part of his austerity efforts to rein in the country's budget.

Italians now spend the same amount each week to fill their tanks as they do to feed their families. Topping up a car's 60-liter (16-gallon) tank costs about $142, roughly the same as an average Italian household spends per week on food, according to agricultural trade group Coldiretti.

The average daily income in Italy is $88. The share of a day's wages needed to buy a gallon of gas is 10 percent.

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