Globally, the average price of 95-octane gasoline (known as premium) was $1.3 per liter in January 2024. However, prices varied by region and country at the start of the new year, according to data from the specialized platform Global Petrol Prices.
In general, richer countries have higher prices, while poorer countries and countries that produce and export oil have much lower fuel prices, with some minor exceptions.
Looking at the global ranking of countries by gasoline prices, we find that Hong Kong is still the most expensive country for a liter of 95-octane gasoline at $3.101, followed by Monaco in second place at $2.353 per liter. Iceland came in third at $2.325, Denmark in fourth at $2.114, and the Netherlands in fifth, with the price of a liter of 95-octane gasoline there reaching $2.085 per liter at the beginning of the new year.
As for the cheapest price in the world, Iran came in first place overall with a price of 95-octane gasoline at $0.029 per liter, followed by Libya, where the price of the substance reached $0.031 per liter in second place, and Venezuela in third place at $0.035 per liter.
In the United Arab Emirates, the Fuel Price Monitoring Committee approved a decrease in fuel prices for the current month of January. A liter of 95-octane gasoline fell to $0.738 (2.71 dirhams) from $0.795 (2.92 dirhams) in December 2023.
In the Arab world, the price of a liter of 95-octane gasoline in Jordan was $1.592 in January 2024, making the Kingdom the most expensive country for the substance in the Arab world. Morocco came in second place at a price of $1.563 per liter, while Syria came in third at a price of $0.876 per liter, and Lebanon came in fourth at $0.76 per liter.
The average price of 95-octane gasoline was $1.3 per liter in January 2024. Hong Kong was the most expensive country, followed by Monaco and Iceland. Iran was the cheapest country, followed by Libya and Venezuela. In the Arab world, Jordan was the most expensive country, followed by Morocco and Syria.
