Highest & Cheapest Gas Prices by Country

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

Photograph by SIME/eStock Photo

Company Symbol % Change
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Saudi Arabia

Price per gallon of premium gasoline: $0.61
Price change since last quarter: 0%
Most-expensive-gas rank: #59
Pain-at-the-pump rank: #58
<p>Saudi Arabia, which holds one-fifth of the world's oil reserves, is pursuing wind, solar and nuclear power to help cut in half the crude and natural gas it burns to generate its electricity. The country wants to generate a third of its electricity from alternate energy sources within two decades, according to government officials.</p><p>Persian Gulf oil producers are seeking new ways to generate power because they prefer selling their expensive crude to gas-hungry countries, rather than burning it. Saudi Arabia is OPEC's biggest producer and heavily subsidizes the price of gasoline.</p><p>The average daily income is $62. One percent of a day's wages will pay for a gallon gas.

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