Highest & Cheapest Gas Prices by Country

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

Photograph by Irene Becker/Getty Images

Company Symbol % Change
Hess Corp HES:US 0.22
Exxon Mobil Corp XOM:US 0.04
Chevron Corp CVX:US 0.09
ConocoPhillips COP:US -0.46
BP PLC BP/:LN -0.26
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Nigeria

Price per gallon of gasoline: $2.34
Rank by most expensive gas: 54
Rank by pain at the pump: 4

Nigeria has some of the cheapest gas, yet it's out of reach for the nation's poor population.

Nigerians have grown to rely on the cheap oil. The country's spending on subsidies burns through much of the proceeds from the nation's oil bounty, making it difficult to invest in much-needed infrastructure and education.

A year ago, Nigerian President Goodluck Jonathan cut the country's generous gas subsidies, triggering nationwide strikes shutting banks, other businesses and ports. He quickly backtracked, restoring some subsidies.

Nigeria, Africa's top oil producer, relies on imports for about 70 percent of its fuel because it lacks the refining capacity to turn its oil into gasoline. The average daily income is $4.74. The share of a day's wages needed to buy a gallon of gas is 49 percent.

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