Last Updated 18 | 08 | 2012 at 13:38


Malta 23rd most expensive place to buy petrol

Article By: news

Malta came in as the 23rd most expensive place to buy petrol out of 63 countries, sandwiched in between Hungary in 22nd place and Slovenia in 24th place. The price per gallon of premium gasoline is about €5.35 ($6.60), which went down by -9.8% in the last quarter.

According to Bloomberg's gas price ranking, average cost to fill up a tank fell almost 8% worldwide in the last three months.  The ranking sorts 60 countries by average price at the pump and by "pain at the pump," which is measured by the percentage of average daily income needed to buy a gallon of fuel.

Malta also ranked at 27 on Bloomberg's Pain-at-the-pump stakes; since the average daily income is around €45.40 ($56), the share of a day's wages needed to buy a gallon of gas is 12%.

Norway came top of the stakes for most expensive gas, while oil-rich Venezuela had the cheapest. To illustrate the point, filling up a  39-gallon tank in Venezuela costs a mere $3.51 while in Norway it costs an astounding $394.68.

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