15 countries with the cheapest fuel prices in the world

Petrol, or gasoline, remains a widely used fuel for vehicles globally. Despite the rise of electric vehicles, petrol-powered cars continue to offer several advantages:

1. Wide Availability and Accessibility:

Extensive Infrastructure: Petrol stations are ubiquitous, making it easy to refuel vehicles. This widespread infrastructure ensures convenience for motorists.

Rapid Refueling: Petrol vehicles can be refueled quickly, often within minutes, minimizing downtime. This is particularly beneficial for long-distance travel.

2. Performance and Power:

Responsive Acceleration: Petrol engines are known for their quick response to the accelerator, providing a dynamic driving experience.

Higher RPM Range: Petrol engines can operate at higher RPMs, delivering impressive power and acceleration, especially for performance-oriented vehicles.

3. Lower Initial Cost:

Affordability: Petrol vehicles generally have lower initial purchase costs compared to electric vehicles, making them a more accessible option for many consumers.

4. Lower Maintenance Costs:

Simpler Technology: Petrol engines are relatively simpler in design compared to electric or hybrid vehicles, leading to lower maintenance costs.

Readily Available Parts: Spare parts for petrol vehicles are widely available and often more affordable than those for newer technologies.

5. Environmental Considerations:

Reduced Particulate Matter: Modern petrol engines, equipped with advanced emission control systems, produce significantly lower levels of particulate matter compared to older models.

Flexibility in Fuel Choices: Some petrol vehicles can run on higher ethanol blends, which can reduce carbon emissions.

6. Reliability and Durability:

Proven Technology: Petrol engines have a long history of development and refinement, resulting in reliable and durable powertrains.

Robustness: Petrol engines are generally more resilient to extreme weather conditions and rough road surfaces.

While petrol-powered vehicles have their advantages, it's essential to acknowledge the environmental impact of fossil fuels. As technology continues to evolve, the automotive industry is shifting towards more sustainable options, such as electric and hybrid vehicles. However, petrol will likely remain a significant part of the transportation landscape for the foreseeable future.

15 countries with the cheapest fuel prices in the world

1. Iran: As of November 2024, Iran boasts the world's cheapest fuel, priced at a mere $0.029 per liter. This incredibly low price is a result of government subsidies and the country's vast oil reserves.

2. Libya: Libya follows closely behind Iran, with fuel prices averaging around $0.031 per liter. Like Iran, Libya benefits from substantial oil reserves and government subsidies that keep fuel costs low.

3. Venezuela: Despite economic challenges, Venezuela maintains relatively low fuel prices, averaging around $0.035 per liter. The government heavily subsidizes fuel, making it affordable for its citizens.

4. Angola: Fuel in Angola is priced at approximately $0.329 per liter. While not as cheap as the top three, it's still significantly lower than many other countries.

5. Kuwait: Kuwait, another oil-rich nation, offers fuel at around $0.341 per liter. Government subsidies and abundant oil reserves contribute to these low prices.

6. Egypt: Fuel in Egypt is priced at approximately $0.36 per liter. The government subsidizes fuel, making it affordable for many Egyptians.

7.Algeria: Algeria, a major natural gas producer, offers fuel at around $0.37 per liter. Government subsidies and the country's abundant natural gas reserves contribute to these low prices.

8.Turkmenistan: Turkmenistan, a Central Asian country with significant natural gas reserves, offers fuel at around $0.43 per liter. Government subsidies and the country's abundant natural gas reserves contribute to these low prices.

9.Malaysia: Malaysia, a Southeast Asian country with significant oil and gas reserves, offers fuel at around $0.49 per liter. Government subsidies and the country's abundant natural gas reserves contribute to these low prices.

10. Kazakhstan: Kazakhstan, a Central Asian country with significant oil and gas reserves, offers fuel at around $0.40 per liter. Government subsidies and the country's abundant natural gas reserves contribute to these low prices.

11. Bahrain: Bahrain, a small island nation in the Persian Gulf, offers fuel at around $0.53 per liter. Government subsidies and the country's abundant oil reserves contribute to these low prices.

12.Qatar: Qatar, a small but wealthy nation in the Middle East, offers fuel at around $0.58 per liter. Government subsidies and the country's abundant natural gas reserves contribute to these low prices.

13. Saudi Arabia: Saudi Arabia, a major oil producer, offers fuel at around $0.62 per liter. Government subsidies and the country's abundant oil reserves contribute to these low prices.

14. United Arab Emirates: The United Arab Emirates, a federation of seven emirates, offers fuel at around $0.85 per liter. Government subsidies and the country's abundant oil reserves contribute to these low prices.

15. Oman: Oman, a Middle Eastern country with significant oil and gas reserves, offers fuel at around $0.62 per liter. Government subsidies and the country's abundant oil reserves contribute to these low prices.