Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

Company Symbol % Change
Exxon Mobil Corp XOM:US -0.11
Hess Corp HES:US 0.91
Chevron Corp CVX:US 0.54
ConocoPhillips COP:US 0.69
BP PLC BP/:LN -0.15
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India

Price per gallon of gasoline: $5
Rank by most expensive gas: 42
Rank by pain at the pump: 2

India feels the second-highest pain at the pump, after Pakistan. Low average wages result in widespread energy poverty, where quality of life is hampered by limited access to electricity and clean fuels.

Energy subsidies account for about 10 percent of India's annual budget, according to government estimates. Consumption subsidies aren't an efficient way to alleviate energy poverty; they place a burden on the government and taxpayers and primarily benefit wealthier households, according to the OECD.

The average daily income in India is $4.68. The average Indian needs to work 1.1 days to afford a gallon of gasoline. Due to the extreme cost, this country of 1.2 billion people has the lowest per capita gas consumption.

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