Business & Economy
5 Countries With The Lowest Fuel Prices In The World
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Petrol and crude oil in general, is a vital material resource that we cannot survive without, as we all know. Every country in the globe sells gasoline to its population at a different price, based on the effect of demand and supply.
The current petrol price in Nigeria is N166.4. It is not so expensive, but it is not among the cheapest. In this article on EKO HOT BLOG, We’ll looking at the five countries where fuel is sold at list price and how much it costs in Naira.
1. Algeria
Algeria is a North African country that borders the Mediterranean Sea as well as the Sahara Desert. It boasts one of Africa’s largest land areas and population. Petrol is being offered for $O.322, which equates to about N134 per litre.
2. Syria
Syria is an Asian country in the Middle East with a Mediterranean shoreline. Its borders were very near to Turkey and Iran. Citizens of Syria can purchase petrol from the Syrian government for $0.316 (about N132).
3. Iran
Iran is located in the Middle East, and it has borders with Syria. They are a developing Asian country that has made technological progress over time. They offer fuel for $0.051, which is approximately N21 in Nigeria.
4. Libya
Libya is another North African country on this list; it shares borders with Egypt and Algeria and has a Mediterranean Sea coastline. The government of Algeria sells fuel for $0.032, or N13 per litre.
5. Venezuela
Venezuela is a South American country with the world’s lowest fuel prices right now. According to sources, petrol costs only $0.032 per litre, or around N10.
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With a thousand Naira, in Venezuela, would be able to get 100 litres of petrol, while here in Nigeria, at the current price, you would get just 6 litres.
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