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 -0.68
Hess Corp HES:US -3.87
Chevron Corp CVX:US -0.41
ConocoPhillips COP:US -1.77
BP PLC BP/:LN -1.07
57 of 63

United Arab Emirates

Price per gallon of gasoline: $1.77
Rank by most expensive gas: 56
Rank by pain at the pump: 57

Since the discovery of oil in the United Arab Emirates in the 1960s, the U.A.E. has evolved from a poor region of principalities to a wealthy modern state with a high standard of living, especially in Dubai and Abu Dhabi.

Economic diversification efforts in recent years have reduced the proportion of the economy dependent on oil and gas to 25 percent. The U.A.E. is the eighth-biggest oil producer in the world, drawing about 2.81 million barrels of oil a day.

The average daily income is $180. The country subsidized about 68 percent of the cost of gasoline as of 2010. The share of a day's wages needed to buy a gallon of gas is just 1 percent, and the country has the seventh-highest consumption rate.

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