Venezuela is cheapest place in the world to buy petrol at 8p a litre – compared to 135p a litre in the UK
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Your support makes all the difference.Venezuela has been named the cheapest place in the world to buy petrol for the second year running.
While, according to the AA, the average UK price of a litre of petrol is 135p, the cost of a litre in the South American country is just 8p.
Although the cost of petrol is Venezuela is the lowest, research by This Is Money.co.uk suggests Middle Eastern nations are the real winners - spending a far lower percentage of their average monthly disposable income on fuel.
High average post tax wages of £3,664.92, combined with an average litre of petrol price of 12p, saw Qatar top the list of average disposable income vs. petrol expenditure.
Qatar residents spend just 0.4 per cent of their disposable income on petrol, followed by Saudi Arabia at 0.98 per cent, Kuwait at 1.2 per cent and Bahrain at 1.81 per cent.
Thanks to a fairly low average monthly post-tax income of £354.48, the average Venezuelan pays 2.73 per cent of their wages on petrol, putting them in fifth place on the list.
THE TOP TEN CHEAPEST PLACES TO BUY PETROL:
1. Venezuela
Price per litre: 8p
Monthly Cost: £9.66
Income after tax: £354.48
Percentage of monthly income spent on petrol: 2.73%
2. Egypt
Price per litre: 9p
Monthly Cost: £10.87
Income after tax: £247.35
Percentage of monthly income spent on petrol: 4.39%
3. Saudi Arabia
Price per litre: 10p
Monthly Cost: £12.08
Income after tax: £1,234.78
Percentage of monthly income spent on petrol: 0.98%
4. Qatar
Price per litre: 12p
Monthly Cost: £14.49
Income after tax: £3,664.92
Percentage of monthly income spent on petrol: 0.40%
5. Bahrain
Price per litre: 15p
Monthly Cost: £18.12
Income after tax: £998.19
Percentage of monthly income spent on petrol: 1.81%
6. Libya
Price per litre: 15p
Monthly Cost: £18.12
Income after tax: £544.94
Percentage of monthly income spent on petrol: 3.32%
7. Turkmenistan
Price per litre: 17p
Monthly Cost: £20.53
Income after tax: £115.42
Percentage of monthly income spent on petrol: 17.79%
8. Kuwait
Price per litre: 17p
Monthly Cost: £20.53
Income after tax: £1,703.98
Percentage of monthly income spent on petrol: 1.2%
9. Algeria
Price per litre: 17p
Monthly Cost: £20.53
Income after tax: £173.26
Percentage of monthly income spent on petrol: 11.85%
10. Iran
Price per litre: 21p
Monthly Cost: £25.36
Income after tax: £388.68
Percentage of monthly income spent on petrol: 6.53%
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