Thursday, March 1, 2012

While in many parts of the world such as USA, European countries are not "struggling" with fuel price escalation, then in some other countries, people comfortable with using the more favorable price.

Below is a list of 10 countries with the cheapest gas prices in the world:
10. Algeria
Price: $ 1.20 / gallon ($ 0.32 / liter)
Algeria is one of 12 members of OPEC, the oil reserves in Africa 3rd largest after Libya and Nigeria. At the same time, Algeria was the fourth largest oil exporter in the world in 2010. However, Algeria's oil with low sulfur content of customers from the European Union, the EU is not popular. Unlike Saudi Arabia, Algeria refused to increase production of crude oil exports, because of the escalation of oil prices in the nuclear ambitions of Iran. Algeria's main income comes from oil production (60%). The industry was nationalized.The government restricted the development of private economy, foreign participation.
9. Oman
Price: $ 1.20 / gallon ($ 0.32 / liter)
Oman oil price sold to the people of Algeria in the sale price, about $ 1.2 / gallon ($ 0.32 / liter). Oman to sell gas cheaply to people is because this country has oil reserves and large oil production. Oman's oil reserves, the Middle East's largest, estimated at 5.5 billion barrels. Oil operations increased 20% since 2007, reaching approximately 860 thousand barrels / day. In 2010, profits from oil and gas exports accounted for 47% of GDP of Oman. Middle Eastern country is trying to diversity the economy. The number one priority for education, besides, Oman to invest in sectors such as health services or agriculture.
8. Egypt
Price: $ 1.14 / gallon (0.30 USD / liter)
Egypt oil producers and Africa's biggest oil refinery, holding important positions in OPEC, with output of about 736 thousand barrels / day. Natural gas is expected to become major sources of revenue due to increased mining output. Because of these reasons that the Egyptian state subsidies for fuel prices much.People "pyramid" just to buy for $ 1.14 USD / gallon ($ 0.30 / liter).
7. Qatar
Price: $ 0.90 / gallon (0.24 / liter)
Qatar is the world leader in liquid natural gas exports, ranked 16th on the export of crude oil, with oil reserves of up to 25.4 billion barrels, revenue from fuel exports accounted for 50% of GDP. Fuel subsidy is one of the Quatar Government measures that apply to promote the economy of their growing. That makes the oil consumption of the country's 3-fold increase since 2000. These efforts help Qatar to become one of the Gulf countries have the world's highest GDP, approximately $ 102,700 / person (2011).
6. Kuwait
Price: $ 0.84 / gallon ($ 0.22 / liter)
Kuwait has the 6th largest oil reserves world and is one of the national production of oil extraction and export large leading OPEC. Revenue from fuel exports accounted for 50% of GDP and 95% of the income of the state of Kuwait. According to the Global Policy Institute, 2011, Kuwait carried out subsidies for fossil fuel prices the world's tallest people, up to $ 2,800 / person. Meanwhile, the UAE and Qatar subsidy $ 2,500 / person.
Five. Bahrain
Price: $ 0.78 / gallon ($ 0.21 / liter)
Bahrain is a country with relatively little oil compared to other neighboring countries. This Persian Gulf island nation is emerging as a hub for trade and tourism in the Gulf. To promote further economic development, Bahrain has adopted measures to fuel price subsidies to farmers. However, the unrest of the population, and demand political reform can make the island ending subsidized gas prices at any time.
4. Turkmenistan
Price: $ 0.72 / gallon ($ 0.19 / liter)
The new President Gurbanguly Berdymukhammedov was elected has changed many national development plans in the Central Asian dictator. The owner of a car in Turkmenistan continue to be subsidized 120 liters (34 gallons) of free gas / month. Central Asian government promises fuel price subsidies for people by 2030.However, Turkmenistan's gas reserves estimated thickness is relatively low, so the promise also to consider that are not implemented.
3. Libya
Price: $ 0.54 / gallon ($ 0.14 / liter)
The rebellion against Gaddafi regime last year that oil infrastructure severely damaged Libya. Many oil fields, multiple output ports become the battleground of fierce fighting between opposition forces Gaddafi. Ras Lanuf oil refinery is the largest country to close. Current transitional government is gradually restoring production and export of oil, its gas. Expected output of Libya's oil exploitation will increase from 1.265 million barrels / day up the 1.6 million b / d in summer 2012.
Two. Saudi Arab
Price: $ 0.48 / gallon ($ 0.13 / liter)
OPEC recently announced, Saudi Arab, which has oil reserves of the world's 2nd largest after Venezuela.However, the South American country, Venezuela is less attractive for oil investors. They focus on investment in Saudi Arabia, that Saudi Arab countries with coal ash exports the world's largest fuel.
Each year, Saudi Arab spend about $ 13.3 billion price of gasoline and diesel subsidies.
A. Venezuela
Price: $ 0.18 / gallon ($ 0.05 / liter)
This South American country's largest oil reserves in the world. Venezuela is one of the national urbanization rate highest in Latin America, many residential areas of poverty. Therefore, the country government "Miss" has subsidized fuel for nhuoi many people, for $ 0.18 USD / gallon ($ 0.05 / liter). This subsidy is the world's leading fuel.


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