December 2, 2022

The countries with the most expensive and cheapest gasoline in Latin America

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(CNN Spanish) — The average price of gasoline worldwide is US$1.34 per liter, according to the site Global Petrol Prices. The situation in most Latin American countries, however, is far from average: in Venezuela, the country with the cheapest gasoline, a liter amounts to US$0.022. At the other extreme is Uruguay with a liter at almost US$2.

The discussion about the price of gasoline gained strength in Colombia as a result of the proposal by the government of President Gustavo Petro to dismantle the fuel subsidy, which would increase its price.

As a general rule, explains the specialized site, the richest countries have higher prices while the poorest and those that produce oil have significantly cheaper prices. In the international market, all countries have access to the same prices, but in the local market the differences are notorious and can be explained, for example, by factors such as subsidies and/or taxes that each country decides to impose on gasoline.

Here, a review of prices in Latin America:

the extremes

With a liter at almost US$2, Uruguay heads the list of countries in the region with the most expensive gasoline. It is followed by Belize (US$1.77) and Chile (US$1,562).

At the other end of the list are Venezuela, with a liter at US$0.022, Bolivia (0.542) and Haiti (US$0.564).

Colombia, with a liter at US$0.057, is in fourth place among the cheapest. Argentina is also among those with more affordable prices, while Mexico is in the middle of the table, in 11th place out of 21.

Nicaragua, with a liter at US$1,361, is the country in Latin America with a price closest to the world average.

Publisher’s note: This article was originally published in September 2021 and updated in September 2022.



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