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Global gasoline prices are on the rise – about 1.4 percent, on average, in the last three months. Behind that modest increase is a wide range of price swings felt differently around the world. According to a Bloomberg analysis, which ranked 61 countries by three economic measures to see which has the most affordable gas and who feels the most pain at the pump, Romania is on the 21st depending on the price of one liter of gasoline.
The analysis based on GlobalPetrolPrices.com data reveals that the average price of a gallon of gas is USD 4.20 in Romania.
“Although Romania began the transition from communism in 1989, following the overthrow and execution of the country’s last dictator, Nicolae Ceausescu, its economic gains have only recently begun to form a middle class. Romanian gasoline consumption is just a quarter of the ranking’s average,” the source reads.
In terms of wages, the gasoline costs in Romania approximately as much as in China, Brazil, Croatia, Mexico or Colombia, while fuel consumption in Romania is far behind the developed countries, only 25 percent of the world average respectively.
Venezuela tops the list, where the official cost of fuels is almost zero in the context of the subsidy granted by the communist regime, and closed by Hong Kong, where the average price of gasoline is about USD 2 per liter.
The world’s largest producer and exporter of oil, Saudi Arabia, the leader of OPEC, is the second in the ranking of countries with the cheaper fuels. Here, the gasoline costs 24 cents per liter, significantly subsidized by the authorities.
Iran ranks third, with 33 cents the price for a liter of gasoline.
With USD 1.11 per liter, Romania has the cheapest gasoline in Europe and is followed closely by Bulgaria (USD 1.12 per liter) and Chile (USD 1.14 per liter).
In terms of affordability, Romania ranks 50th with an average daily income of USD 26.26, it takes 16.01 percent of a day’s wages to afford a gallon of gas.
As regards the income spent, Romania is the 18th. The average driver uses 23.36 gallons a year, which eats up 1.02 percent of the typical salary.
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