Highest & Cheapest Gas Prices by Country

Pain at the Pump

The next time you complain about the price of gas, remember: It’s all relative. Filling up the same 39-gallon tank of a Chevrolet Suburban in Venezuela costs $3.51. In Norway it’s $394.68.

The average cost to fill up fell almost 8 percent worldwide in the last three months. Relief at the pump was not shared equally. A sharp price drop in the U.S. silenced squabbles in the presidential election, while a hike in Brazil meant people had to work 15 percent longer for the same amount of gas.

The Bloomberg Gas Price Ranking sorts 60 countries by average price at the pump and by “pain at the pump,” which is measured by the percentage of average daily income needed to buy a gallon of fuel. See where your country stacks up.

Sources: Created by Bloomberg Rankings using data compiled by Bloomberg, Associates for International Research Inc. (AIRINC), Europe’s Energy Portal and the IMF. Country descriptions draw on World Bank data for fuel consumption and OECD data about subsidies. Gas prices are from July 9-23. Data weren’t available for all countries, and the list excludes countries with per capita daily income less than $3.

Malaysia #53 in term of ranking of the HIGHEST oil price in the world.

 

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Malaysia

Price per gallon of premium gasoline: $3.23
Price change since last quarter: -7.4%
Most-expensive-gas rank: #53
Pain-at-the-pump rank: #28

The average daily income is $29. The share of a day’s wages needed to buy a gallon of gas is 11 percent.

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