Russia in Top Ten for Countries With Cheapest Petrol

PHOTO by erikdegraaf / Depositphotos

Russia ranked tenth overall in the list of countries with the cheapest petrol based on economic results from the fourth quarter of 2016, dropping from their eighth-place finish in the third quarter of 2016. The average price of petrol in Russia in the last quarter of 2016 was $0.62 per litre (38 roubles) compared to $0.59 per litre (37.7 roubles) in the third quarter of 2016, Bloomberg reported.

“Russia’s two-year recession may be coming to an end in 2017, buoyed by rising oil prices and the election of a US president who’s more sympathetic to the Kremlin,” Bloomberg wrote. “Russia is the world’s third-biggest oil producer, and its people enjoy some of the cheapest gasoline prices on the global market.”

Bloomberg’s ranking covered 61 countries. In addition to prices, the countries were also ranked by the affordability of petrol for the population as well as how much of the average annual salary petrol accounts for. Venezuela ranked first in all three categories, with a litre of petrol costing $0.01 there. In Venezuela, “filling up a tank of gas still costs less than a cup of coffee,” according to Bloomberg’s report.