As of October 2025, petrol prices have seen significant variations across the globe due to geopolitical tensions, subsidy reforms, supply chain disruptions, and local tax policies.
Libya – ($0.028 / ?40.204)
Libya has the world’s cheapest petrol, thanks to heavy government subsidies and its large oil reserves. Despite ongoing political instability, petrol remains highly affordable domestically.
Iran – ($0.029 / ?41.670)
Iran maintains low petrol prices through state control and subsidies, using its vast crude oil resources. However, sanctions and smuggling issues continue to affect its energy market.
Venezuela – ($0.035 / ?50.986)
Once offering nearly free petrol, Venezuela still keeps prices extremely low through government control. Economic challenges and inflation persist despite the low cost of petrol.
Angola – ($0.327 / ?476.574)
Angola’s petrol prices remain relatively low due to its oil production capacity. However, recent subsidy cuts have slightly increased domestic petrol costs.
Kuwait – ($0.342 / ?498.682)
As a major oil exporter, Kuwait offers some of the cheapest petrol in the Gulf region. Citizens benefit from generous fuel subsidies supported by oil revenues.
Algeria – ($0.354 / ?515.492)
Algeria’s low petrol price is sustained by government intervention and its strong energy sector. The state heavily subsidises petrol to ease living costs.
Turkmenistan – ($0.429 / ?625.462)
Turkmenistan provides low-cost petrol due to state control of its rich natural gas and oil resources, though access can sometimes be limited.
Egypt – ($0.443 / ?645.786)
Egypt’s petrol prices remain low but have been gradually rising as the government scales back subsidies under economic reform programmes.
Kazakhstan – ($0.458 / ?667.883)
Kazakhstan, a major oil producer in Central Asia, keeps petrol prices relatively low. However, protests in 2022 over fuel price increases led to tighter state regulation.
Bahrain – ($0.531 / ?772.798)
Bahrain has one of the lower petrol prices in the Gulf but higher than its neighbours due to fewer oil reserves. The government balances subsidies with economic diversification plans.