Venezuela, Bolivia, Colombia, and Ecuador are among the 20 countries with the cheapest gasoline

The vast majority of Latin American countries have, to a lesser extent, some fuel subsidies, but some stand out above the rest by having gasoline among the cheapest in the world.

That is why Latin American states are in the twenty countries with the cheapest gasoline in the world, according to data from the GlobalPetrolPrices website.

This site updates, week by week, the retail price of fuel in each country, taking a national average.

VENEZUELA, THE COUNTRY WITH THE CHEAPEST GASOLINE IN THE WORLD

Venezuela is currently the country with the cheapest gasoline in the world, according to prices published by GlobalPetrolPrices.

In the territory governed by Nicolás Maduro, a liter costs around US$0.016 per liter, according to this information source.

It is paradoxical that a country with such a deep crisis, as Venezuela has been suffering for years, has such an accessible price.

However, the website from which the data is taken clarifies: “As a general rule, richer countries have higher prices, while poorer countries and those that produce and export oil have significantly lower prices”.

It should be noted that Venezuela is a country with significant oil production.

Behind Venezuela, the other countries with the cheapest gasoline are Libya, Iran, Angola, Algeria, Kuwait, Egypt, Turkmenistan, Nigeria, Kazakhstan, Malaysia, Iraq, and Bahrain.

Only after that comes the next Latin American.

BOLIVIA, IN SECOND PLACE IN LATAM

Bolivia is the second country with the cheapest gasoline in Latin America, ranked 14th globally.

A liter of gasoline in Bolivia costs US$0.54. Bolivia has had the price of this fuel frozen at Bs.3.74 for more than fifteen years.

Bolivia is a gas producer but not an oil producer. Therefore, it must import diesel and gasoline inputs and additives.

COLOMBIA AND ECUADOR

Qatar ranks 15th globally, followed by a Latin American nation with oil production: Colombia, which appears in 16th place, with gasoline costing US$0.584 at the pump.

The 17th place goes to Azerbaijan; 18th to Saudi Arabia; 19th to Oman; and number 20 is in the hands of another Latin American oil producer: Ecuador.

There, a liter of gasoline is sold at service stations for about US$0.634.

Brazil and Suriname are among the thirty cheapest countries in the world

The 26th country in terms of cheap gasoline is Suriname, while the main regional economic power, Brazil, comes in 29th place, with gasoline costing US$0.956.

This fuel is slightly more expensive in Argentina, where it is sold at US$0.980.

Argentina is in 33rd place, just two steps above the United States (US$0.988).

At the opposite end of the scale is Uruguay, ranked 24th, but in reverse: among those with the most expensive gasoline in the world. In the American continent, it is only surpassed by Barbados.

In Uruguay, a liter of gasoline costs US$1.835.

WHAT HAPPENS WITH DIESEL

Regarding diesel, Venezuela has the second lowest price in the world (behind Iran); Ecuador is the tenth most accessible; Colombia appears in 15th place, and Bolivia in 16th place.

With information from Bloomberg