[size=45]Iraq ranks 12th among the world's cheapest countries in fuel pricestwo hours ago
Iraq ranked 12th among the world's cheapest countries in fuel prices, according to the global petrol prices website.
Iraq ranked among the 170 countries listed in the table, where the price of gasoline was 514 cents per liter, while it ranked fifth in the Arab world after Libya, Syria, Algeria and Kuwait.
The report indicated that "Venezuela ranked first in the world with the cheapest country in the world for gasoline, at a price of 22 cents per liter, followed by Libya at 31 cents, and then Iran came third at 53 cents."
And he indicated that "the most expensive countries in the world for gasoline prices were Hong Kong, at a price of 2.962 dollars per liter, preceded by Norway at 2.858 dollars, and Denmark at 2.726 dollars."
The report stated that "the global average price of gasoline for the month of August amounted to 1.43 dollars per liter," noting that "gasoline prices in rich countries are high compared to poor countries, while oil-producing and exporting countries are much lower than them."
The report pointed out that “the difference in gasoline prices in different countries is due to government subsidies for gasoline and the volume of taxes. All countries in the world buy oil at the same prices, but later impose different taxes, which leads to different retail prices for gasoline.”