Global Gas Prices: Where Do We Fit?

by Matt Posky

Published: May 4th, 2018

You’ve no doubt noticed that gas prices have been creeping up while 2018 progresses. But North America still has it pretty good, especially the United States. Despite fuel prices creeping up to almost $3.00 per gallon, the U.S. still enjoys cheaper gasoline than most of the Western world. Even Canada, which is currently coasting around $4.45 per gallon, manages to undercut the nightmare that is Europe by a wide margin.

North America as a whole spends more on gas per person then practically everywhere else on the globe, though. An affinity for larger vehicles, combined with more time spent behind the wheel, translates into burning more fuel overall. I suppose one could make the argument that we need cheaper petroleum since we use so much of it — just be ready to have someone call you selfish.

For example, the United Kingdom has prices set around $6.59 for a gallon of that good stuff but the average citizen only uses 69.67 gallons a year. However, the average American turns 429 gallons of gasoline into forward motion.

Bloomberg recently ran a study in which it compared average fuel prices between 61 countries, looking specifically at the per-gallon prices, how that price compares to wages in each country, and how much of it each citizen is burning in a standard year.

The results are fascinating, at least until you start looking at Iran and realize the country sells fuel for less than a dollar per gallon. Then you’re forced to take a momentary break to come to grips with your anger.

Gas prices were sourced by GlobalPetrolPrices.com to determine fuel pricing, which is useful but imperfect since gas isn’t the same around the world. The outlet also said it used U.N. data for motor gasoline by road in 2015 to determine average fuel consumption per annum. Again, imperfect for a 2018 analysis, but it’s probably still the most comprehensive collection of prices and what they mean in a broader context that we’ve come across. Check it out for yourself if you want to see where individual nations stack up.

#Analysis #FuelPrices #GasPrices #Gasoline #Oil #Reports #Statistics #Studies

Matt Posky

A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.

More by Matt Posky

Comments

Join the conversation

2 of 57 comments

Trail Rated on May 09, 2018

A One Dollar per Gallon Federal Deficit Tax will not cover half of the interest due on 20 Trillion.

Like Reply
WildcatMatt on May 23, 2018

"The results are fascinating, at least until you start looking at Iran and realize the country sells fuel for less than a dollar per gallon. Then you’re forced to take a momentary break to come to grips with your anger." What, exactly, am I supposed to be angry about? That an oil-rich country is able to provide low-cost gas to its domestic market? Sure, some of that is political but some of it is also lower overhead since it's not being shipped thousands of miles before being refined and then hundreds of miles before being sold to the customer. When I lived in upstate NY farm country, things like milk, butter, and eggs were cheaper for the same reasons.

Like Reply

Recent Comments

Jkross22 Their bet to just buy an existing platform from GM rather than build it from the ground up seems like a smart move. Building an infrastructure for EVs at this point doesn't seem like a wise choice. Perhaps they'll slow walk the development hoping that the tides change over the next 5 years. They'll probably need a longer time horizon than that.
Lou_BC Hard pass
TheEndlessEnigma These cars were bought and hooned. This is a bomb waiting to go off in an owner's driveway.
Kwik_Shift_Pro4X Thankfully I don't have to deal with GDI issues in my Frontier. These cleaners should do well for me if I win.
Theflyersfan Serious answer time...Honda used to stand for excellence in auto engineering. Their first main claim to fame was the CVCC (we don't need a catalytic converter!) engine and it sent from there. Their suspensions, their VTEC engines, slick manual transmissions, even a stowing minivan seat, all theirs. But I think they've been coasting a bit lately. Yes, the Civic Type-R has a powerful small engine, but the Honda of old would have found a way to get more revs out of it and make it feel like an i-VTEC engine of old instead of any old turbo engine that can be found in a multitude of performance small cars. Their 1.5L turbo-4...well...have they ever figured out the oil dilution problems? Very un-Honda-like. Paint issues that still linger. Cheaper feeling interior trim. All things that fly in the face of what Honda once was. The only thing that they seem to have kept have been the sales staff that treat you with utter contempt for daring to walk into their inner sanctum and wanting a deal on something that isn't a bare-bones CR-V. So Honda, beat the rest of your Japanese and Korean rivals, and plug-in hybridize everything. If you want a relatively (in an engineering way) easy way to get ahead of the curve, raise the CAFE score, and have a major point to advertise, and be able to sell to those who can't plug in easily, sell them on something that will get, for example, 35% better mileage, plug in when you get a chance, and drives like a Honda. Bring back some of the engineering skills that Honda once stood for. And then start introducing a portfolio of EVs once people are more comfortable with the idea of plugging in. People seeing that they can easily use an EV for their daily errands with the gas engine never starting will eventually sell them on a future EV because that range anxiety will be lessened. The all EV leap is still a bridge too far, especially as recent sales numbers have shown. Baby steps. That's how you win people over.