Drivers in some countries pay 80 times more for gasoline than drivers in others. Government policy more than market forces explains the gap.
How to Play: Guess if the country on the right has HIGHER or LOWER gasoline prices than the one on the left.
Name A
Name B
Top 10 Most Expensive Gasoline Countries
Gas prices reflect taxes more than production cost. Oil-producing countries with subsidies (Venezuela, Iran, Saudi) have the cheapest. Heavy-tax countries (Hong Kong, Northern Europe) the most expensive.
| # | Name | Gas Price (USD/liter) | Unit |
|---|---|---|---|
| 1 | Hong Kong | 3.30 | USD/L |
| 2 | Iceland | 2.30 | USD/L |
| 3 | Norway | 2.10 | USD/L |
| 4 | Denmark | 2 | USD/L |
| 5 | Netherlands | 2 | USD/L |
| 6 | Israel | 2 | USD/L |
| 7 | Greece | 1.95 | USD/L |
| 8 | Switzerland | 1.95 | USD/L |
| 9 | Italy | 1.93 | USD/L |
| 10 | Finland | 1.90 | USD/L |
Why Prices Vary
Hong Kong’s $3.30 is mostly tax — government policy to discourage driving in a dense city. Combined fuel duty and registration fees can exceed $5/L.
Venezuela at 4 cents/L (and Iran at 5 cents/L) reflect huge state subsidies. Locals pay almost nothing; the difference is funded by oil revenues.
US prices ($0.95/L = ~$3.60/gallon) are lower than Europe due to lower fuel taxes (~$0.18/L vs $1+/L in EU).
Frequently Asked Questions
Most expensive gas?
Hong Kong at $3.30/liter — driven by city-government policy to reduce car ownership.
Cheapest gas?
Venezuela at $0.04/liter — heavy state subsidies despite economic crisis.
Why is US gas cheaper than Europe?
Lower taxes. Crude oil cost is similar globally; tax policy creates the price gap.
How fast can prices change?
Daily for crude oil; weekly to monthly for retail. Major events (war, OPEC actions) can shift prices 30%+ in weeks.
Note: Gas prices in USD per liter as of late 2024 per GlobalPetrolPrices.
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