1. Canada $5.56 per gallon
Although Canada is a major source of oil (it’s the U.S.’s primary provider, accounting for nearly a quarter of our crude oil in January), heavy taxes hit Canadian drivers especially hard. Pricing procedures vary geographically among the provinces, with some areas deciding to regulate and others opting out. In February, Ontario motorists were faced with paying close to 40% in taxes at the pump, more than three times the U.S. rate.
2. France $8.29 per gallon
European countries are known for sky-high gas prices, and France is certainly no exception, as they regularly impose taxes of over $4.50 per gallon. One redeeming factor of the area is its ubiquitous and efficient train system, with high-speed trains linking far flung areas of the country, and continent.
3. Turkey $9.96 per gallon
Turkey has the most astronomical price on our list, and has the gall to charge its citizens $10 per gallon. The country’s capital Istanbul consistently tops the rankings as the most expensive city in which to buy gas. No thank you!
4. Saudi Arabia $0.61 per gallon
Saudi Arabia possesses about one-fifth of the world’s oil reserves and is a central supplier to the U.S. In this part of the world, the price of gasoline is arrived upon by the royal family, which sells the black gold at a subsidized rate.
5. Iran $1.44 per gallon
Although Iranian citizens enjoy a gas subsidy much like the Saudi’s, the government recently pulled back in its assistant efforts, and subsequently caused prices to skyrocket. Vehicle owners once accustomed to purchasing a ration of 60 liters (about 16 gallons) of gas at a rate of 10 cents per liter (with larger allowances for taxi drivers) have recently seen the price quadruple for the same fixed amount, and have joined much of the rest of the world in outrage at rising oil prices.
6. India $5.03 per gallon
In June 2010, the government of India decided to do away with its regulation of gasoline prices, and thereby ceased the subsidies that had previously kept prices low at the pump. The price has since crept up by over $1.
7. China $4.54 per gallon
China’s regulatory agencies adhere to a formula which causes them to adjust the price of gasoline based upon the changes in crude oil costs measured over a period of 22 business days. “When oil prices rally, China sometimes keeps oil lower than international rates to keep the economy going, prevent protests and promote social stability,” stated Antoine Halff, a prominent oil market analyst for the U.S. Energy Information Administration.
8. Venezuela $0.08 per gallon
And then there is Venezuela, a country that boasts the lowest cost of gasoline in the world. Citizens pay just pennies per gallon, and enjoy extremely generous subsidies from President Hugo Chavez. Like Iran and Saudi Arabia, the oil rich South American country prides itself on its national product, and has made oil and gas an integral part of their national fabric. “Oil is seen as a national resource, effectively owned by all and to which all are entitled,” states one oil analyst. “The idea of cheap gasoline tends to be firmly entrenched in the political culture of those countries.” For more countries Click Here