Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

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Price per gallon of premium gasoline: $3.24
Price change since last quarter: +1.3%
Most-expensive-gas rank: #52
Pain-at-the-pump rank: #29

Mexican subsidies and favorable foreign exchange rates may tempt some U.S. drivers across the border to fill up. However, the gap between the two countries continues to shrink.

Mexico sets a fixed price to its gasoline. When global oil prices decline, as they did this quarter, the price of gas in Mexico doesn't always follow. The average daily income is $29. The share of a day's wages needed to buy a gallon of gas is 11 percent.

Mexico is the world's seventh-biggest producer of oil, but the country relies on its northern neighbor to refine it into gasoline.

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