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SEE: Most expensive, cheapest and what neighbouring African countries are paying for petrol

2018-10-08 18:00

Khaya Dondolo

Global fuel prices

Image: iStock

South Africans are reeling from record fuel price hikes, we look at the world's most expensive and cheapest fuel prices.

Despite the price of petrol breaching the R17/litre mark, it's important to note that average price of fuel around the world is $1.17 per litre, reports Globalpetrolprice.com

However, there is substantial difference in these prices among countries.

READ: Here's how much South African neighbouring countries are paying for fuel

As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices.

SEE: SA's record fuel hikes hurting your budget? We list the world's most expensive petrol prices

All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of fuel is different.

SEE: They're paying how much petrol?! World's cheapest fuel prices

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