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Saturday, March 6, 2021

Index: Qatar among world’s cheapest places to fill up gas

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Qatar has the seventh cheapest petrol prices in the world, according to a new report by British car insurance provider Staveley Head.

Venezuela ($.18/gallon) ranked the least costly country for gas. Norway was the most expensive, at $9.88/gallon.

Gas is cheaper than bottled water and soda in four other Gulf countries that also made the top ten list: Saudi Arabia (#2), Bahrain (#5), Kuwait (#6) and Oman (#9).

The UAE was the only GCC country not to make the cut. 

Arabian Business reports:

The news comes as Dubai-owned oil firm Enoc Group has been plagued by fuel shortages this year, with petrol pumps this summer forced to cease or ration resources.

At one point, the Abu Dhabi National Oil Company (Adnoc) was ordered to “help solve” the fuel shortage in Sharjah after the UAE suffered its third shortage in less than a year.

Analysts said the problem lies in government subsidies, which look increasingly unsustainable as soaring oil prices drive up the cost of supplying fuel to customers at a cheaper, fixed price.

For Qatar, which also has the world’s richest residents per capita, it’s not just about oil. The tiny desert country is also the third biggest natural gas producer in the world.

See the full index here.

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