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 -0.49
Hess Corp HES:US 0.16
Chevron Corp CVX:US -0.31
ConocoPhillips COP:US 0.63
BP PLC BP/:LN 0.72
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Venezuela

Price per gallon of gasoline: $0.06
Rank by most expensive gas: 60
Rank by pain at the pump: 60

Dreaming of cheap gas? Fill up in Venezuela, where gas at 6 cents a gallon is the most subsidized and therefore the cheapest in the world. Even with a relatively low daily income of $31, the share of a day's wages needed to buy a gallon of gas is the lowest anywhere, at 0.2 percent.

Venezuela is a poor country that burns through gas like a rich one. President Hugo Chavez has called in the past for the country to reduce consumption, but with fuel this cheap there's little incentive. The last time the country tried to cut subsidies, in 1989, it was torn by riots that killed hundreds of people.

The cost of filling up the 39-gallon tank of a Chevrolet Suburban in Venezuela is $2.34, compared with $128.31 in the U.S. and $385.71 in Turkey.

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