[INFOGRAPHIC] The Highest & Lowest Cost Fuel Prices In The World

Diesel and petrol prices vary a great deal around the world and the price in each territory is largely dictated by the following factors; the price of crude oil, processing costs, distribution costs, local demand, local currency fluctuations, local taxation, fuel subsidies and the availability of local sources of oil.

Taxation and fuel subsidies are by far the two biggest influencing factors over the difference in price between countries and crude oil pricing is the biggest determining overall cause of the change in fuel prices in most countries across the world.

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Below is an infographic which shows the pricing of petrol and diesel in the cheapest and most expensive countries in the world, as well as all the major economies and major oil producers of the world. In total we have listed the average price of diesel and petrol in 2015 across 25 countries.

Originallly posted at Track Compare

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Sumit Dutta heads up Marketing at Oil & Gas IQ. Contact him at Twitter or Google Plus