10 Countries with Cheapest Petrol Prices

By siliconindia | Thursday, 05 September 2013, 13:06 Hrs

4. Qatar

Price per litre: 9.74 ($0.18)

Prior to discovery of oil, the economy of Qatar ran on fishing and pearl hunting. In 1940, after the discovery of oil reserves, the economy of the country improved significantly. Because of the absence of income tax, Qatar is rated as one of the countries with lowest tax rates in the world. The economy is highly dependent on petroleum and natural gas and as of 2012, it has the highest GDP per capita in the world.

Monthly income expenditure on petrol: 0.40 percent

5. Bahrain

Price per litre: 12.50 ($0.23)

Bahrain is situated near the western shores of the Persian Gulf. The country has been recognized as the fastest growing economy in the Arab world and is highly dependent on demand for oil. 60 percent of the country’s export, comes from petroleum production and processing. It also accounts for 70 percent of government revenues and 11 percent of its GDP.

Monthly income expenditure on petrol: 1.81 percent.