From Bloomberg:
http://www.bloomberg.com/slidesh ... ces-by-country.html
Hong Kong
Price per gallon of premium gasoline: $8.61
Price change since last quarter: -3.1
Most-expensive-gas rank: #4
Pain-at-the-pump rank: #35
Hong Kong is a part of China but has its own constitution, its own political structure and its own price of gas. Hong Kong residents pay 76 percent more for a gallon of gas than their neighbors in China, where the government caps the price at the pump.
vs Singapore:
Price per gallon of premium gasoline: $6.08
Price change since last quarter: -9.3%
Most-expensive-gas rank: #35
Pain-at-the-pump rank: #50
The densely urban archipelago of Singapore, made up of 63 separate islands, has one of the smallest networks of roads, spanning just 2,085 miles. Still, Singapore consumes more than the average share of gasoline and is among the world's 10 biggest oil importers.
The people of Singapore experience relatively little pain at the pump. The average daily income is one of the world's highest, at $138. The share of a day's wages needed to buy a gallon of gas is 4.4 percent.
vs China
China
Price per gallon of premium gasoline: $4.89
Price change since last quarter: -7.9%
Most-expensive-gas rank: #45
Pain-at-the-pump rank: #8
China is the world's second-biggest oil consumer, after the U.S. With its burgeoning middle class, China's consumption is only expected to increase. The number of vehicles in the country may rise to 260 million by 2020, matching current U.S. levels, from 80 million last year, according to the State Information Center.
China regulates the prices of retail gasoline and diesel fuel as a tool to curb inflation. On August 10, the country said it will increase gas prices about 4.3 percent, the first hike since March, to keep up with the rising cost of imported crude.
China ranks in the top 10 for pain at the pump, despite a gas price that beats the global average by more than 20 percent. With an average daily income of $16, the share of a day's wages needed to buy a gallon of gas in China is 30 percent.
vs.....
Venezuela
Price per gallon of premium gasoline: $0.09
Price change since last quarter: 0%
Most-expensive-gas rank: #60
Pain-at-the-pump rank: #60
Dreaming of cheaper gas? Fill up in Venezuela, where gas at 9 cents a gallon is the cheapest and most subsidized in the world. Even with a relatively low daily income of $30, the share of a day's wages needed to buy a gallon of gas is the lowest anywhere, at 0.3 percent.
President Hugo Chavez has called in the past for the country to reduce its rising gas consumption, but with fuel this cheap there's little incentive to do so. Decades of inexpensive gas have persuaded many Venezuelans to consider it part of the social contract. 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 $3.51, compared with $146.25 in the U.S and $394.68 in Norway. |
