Petrol and diesel prices vary enormously around the world, driven by a combination of crude oil costs, refining margins, taxes and government subsidies. In 2026, the global spread between the cheapest and most expensive countries remains vast — from under $0.20 per litre in some heavily subsidised markets to over $2.50 per litre in high-tax European countries.
The Cheapest Countries
The cheapest petrol prices in the world are found in countries with large domestic oil production and heavy government fuel subsidies. Venezuela has historically offered some of the world’s cheapest petrol at near-zero prices, though economic dysfunction has sometimes led to supply shortages. Libya, Iran and Algeria also offer heavily subsidised fuel prices well below global market rates.
Outside the politically complex subsidy markets, countries including Kuwait, Saudi Arabia’s output strategy, Qatar and the UAE offer pump prices in the $0.50–$0.80 per litre range, reflecting low taxation and access to cheap domestic crude.
Mid-Range Markets
The United States falls in a mid-range globally, with national average pump prices fluctuating around $3.20–$3.80 per gallon ($0.85–$1.00 per litre) in 2026 depending on crude prices and seasonal factors. Significant variation exists between states, with California typically among the most expensive at $4.50+ per gallon and Gulf Coast states among the cheapest.
The Most Expensive Countries
European countries top the global price league, with Norway, the Netherlands, Denmark and Switzerland consistently recording the highest pump prices. The Netherlands and Norway regularly see pump prices above €2.00 per litre — predominantly driven by high fuel taxation, which governments defend on both revenue and climate grounds.
