Change of gasoline price in selected countries 2019-2020

This statistic shows the change in the price of gasoline per liter in selected countries for the period between May 2019 and May 2020. The price changes concern unleaded premium (95 RON) for France, Germany, Italy, Spain, and the United Kingdom, and regular unleaded for Canada, Japan, and the United States (AKI 87). RON stands for Research Octane Number, while AKI means Anti-Knock Index. Both represent the most common octane rating in the countries shown. In May 2020, the gasoline price per liter in the U.S. was 35 percent lower than it was in May 2019.

Influences on gasoline prices

The price of gasoline is a frequently discussed issue, and is a part of almost everybody’s life in developed countries. Gasoline prices worldwide are dependent of a number of factors: crude oil prices, costs for processing and distribution, demand, strength of currencies, taxation, and availability. The most influential factor is the crude oil price. This price includes the costs for exploration, extraction, and transport.

What the consumer pays in the end is also an issue of national oil pricing policy. Typical regions with high taxes on gasoline are European countries and Japan. Other countries keep consumer prices low by subsidizing the costs for gasoline. Among latter countries are the United States, Saudi Arabia, Iran, Venezuela, Egypt, Malaysia, Bolivia, and others.

There are many other factors, however, which directly influence the price of gasoline. Wars, crises, and natural disasters in oil producing regions, for example, can obstruct the production and transportation, and thus cause higher crude oil prices. Last but not least, the end-consumer defines the price through his or her demand. A higher number of people driving cars means higher prices for gasoline, which is often the case in the summer months or holiday seasons.

Change in the price of gasoline per liter in selected countries from May 2019 to May 2020

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Source

Release date

June 2020

Region

Worldwide

Survey time period

May 2019 to May 2020

Supplementary notes

Average end-use total prices in national currencies. Unleaded premium (95 RON) for France, Germany, Italy, Spain, and the United Kingdom. Regular unleaded for Canada, Japan, and the United States.

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