10 Countries with Cheapest Petrol Prices

By siliconindia | Thursday, 05 September 2013, 13:05 Hrs

2. Egypt

Price per litre: 7.30 ($0.14)

The Egyptian government is planning to cut down the fuel subsidies as a measure to control its budget deficit. The size of fuel subsidies is expected to reach 120 billion Egyptian dollars in the current fiscal. The subsidies have hit the economy hard and lead to blackouts and fuel shortages in Cairo. The next few months are expected to witness reforms like fuel-rationing card in an attempt to curb smuggling of fuel.

Monthly income expenditure on petrol: 4.39 percent

3. Saudi Arabia

Price per litre: 8.12 ($0.15)

Saudi Arabia holds one-fifth of world’s total oil reserves and the crude from this country still influences fuel prices across the global. It is the second home to cheapest petrol in the Middle East after Egypt. The country, however, is working on methods to use wind, solar and nuclear power to produce energy and bring down the use of crude and natural gas to generate electricity.

Monthly income expenditure on petrol: 0.98 percent