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The world’s highest petrol prices
Britain is the seventh most expensive country in the world to buy petrol – and it may jump into the top five this August when a 3.02p per litre fuel duty rise is added on.
The world ranking of fuel prices has been revealed in analysis by commercial insurance specialists Staveley Head and This Is Money.
They show the most expensive place in the world to buy unleaded is Norway, where petrol costs 164p per litre. It costs so much there because vehicle fuel is actually taxed twice.
However, because workers there earn so much, even this high fuel cost only represents 7.4 per cent of average monthly income after tax, based on driving an average of 12,000 miles a year in a car that does 38mpg. This is the lowest of all the top countries.
In comparison, fuel in Britain costs an average of 142p per litre of unleaded – and this represents 10.3 per cent of disposable income (an average of £1,660 after tax) for drivers covering 12,000 miles a year.
Not that we have any cause for complaint. Turkey is the second most expensive country in the world to buy petrol, with pump prices there costing 162p per litre. What’s more, because average monthly disposable income is £572, instead of Norway’s £2,681, fuel costs take up a massive 34.2 per cent of disposable income.
The worst-off motorists in the world are drivers in Eritrea, the African country bordered by Sudan and Ethiopia. Fuel there costs less thank in the UK – 141p per litre – but because monthly wages are just £278, fuel costs for 12,000 miles represent 61 per cent of overall income.
However, because of the turbulent recent history of the country, it is unlikely residents will be travelling so far in a month.
Fuel prices have also soared in Greece over recent years, the world’s fifth most expensive place to buy fuel. With government cuts and other budget constraints leading to pressure on wages, Greece motorists spend a quarter of their monthly take-home pay on putting petrol in their cars.
Top 10 most expensive countries to buy petrol
1 Norway: 164p
2 Turkey: 162p
3 Netherlands: 148p
4 Italy: 146.5p
5 Greece: 145p
6 Denmark: 143p
7 Britain: 142p
8 Sweden: 141.3p
9 Eritrea: 141p
10 Belgium: 140.8p
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