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Gas prices around the world Q4 2019

At 5.85 U.S. dollars per gallon, gas prices in Germany were lower than in Norway but considerably higher than in the United States. Norway's high gasoline prices might be one of the reasons why the country is racing ahead in terms of electric mobility.

Gas prices in selected countries worldwide

Fuel prices in different countries range from a few cents to over seven U.S. dollars per gallon. Gasoline is often regarded as a key driver of a country’s economy, as it is the main fuel used in passenger vehicles and the automotive fleets of small and large businesses. The United States is one of the biggest consumers of gasoline on a per capita basis, with approximately 1.22 gallons of gas per person daily.

Fuel prices respond to crude oil price changes

One of the liquid’s main ingredients is crude oil. The spot prices of publicly traded crudes, such as U.S.-sourced WTI (West Texas Intermediate), UK Brent, and the OPEC basket grades, are highly volatile and have proven prone to rallies as of late, most recently due to the novel coronavirus outbreak in China and tanker attacks in the Strait of Hormuz. Where access to oil is limited, this volatility is often causing a shift towards alternative propulsion systems and fuels among a growing number of vehicle drivers.

Affordability of fuel

Gas prices in Europe are counted among the highest worldwide. At 7.32 U.S. dollars per gallon, gasoline is particularly expensive in Norway, although the country is located in a region where oil is abundant. While a surge in fuel prices has sparked protests among parts of the French population, car drivers in India and Pakistan feel the most pain at the pump. According to data published by Bloomberg, some 84 percent of a day’s wages is needed to buy a gallon of gas in Pakistan. The low affordability of fuel is due to weak currencies, limited wage growth, and a level of prosperity that is yet to meet other markets' standards. The high price in countries such as the Netherlands and France is largely attributable to taxes. Other factors driving gas prices include local demand, processing and distribution costs and the aforementioned level of crude oil prices.

Gasoline prices in selected countries worldwide in 4th quarter of 2019

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Release date

January 2020



Survey time period

as of Q4 2019

Supplementary notes

Local gas prices were converted into listed currencies using end-of-day exchange rates on the same day; gas prices are provided by and are for 95-octane from the final week in each quarter listed, according to the source.

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Statistics on "Oil and gasoline prices"

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