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 -1.80
BP PLC BP/:LN -2.67
Exxon Mobil Corp XOM:US -0.32
Chevron Corp CVX:US -0.90
ConocoPhillips COP:US -1.25
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Portugal

Price per gallon of gasoline: $8.82
Rank by most expensive gas: 5
Rank by pain at the pump: 17

Taxes account for 64 percent of the price of gas in Portugal. That's higher than in neighboring Spain, leading many drivers to cross the border in search of a cheap fill.

The gas tax is one of several levies expanded in Portugal since 2001 aiming to protect the environment. Taxes on vehicles take into account carbon dioxide emissions and cylinder capacity, which have led to a more efficient fleet on the road.

The average daily income in Portugal is $53. The share of a day's wages needed to buy a gallon of gas is 17 percent.

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