Countries Have Gasoline Prices Higher Than Daily Wages

In some countries, residents need more than 112% of their daily income to buy one liter of gasoline.

According to Carmundi car platform that conducts research online, many people in the UAE earn more than in other markets in the region at approximately $170 per day. Considering that with the low price of oil, it only represents 0.28% of their average daily earnings in order to purchase a liter of gas.

In Qatar, it is similar. A liter of gas costs an estimated 0.7% of the average daily income, while in Saudi Arabia the world’s largest producer of oil, most residents only spend 0.10% of their daily earnings for a liter of gasoline.

The online research site said that fuel prices across the oil-wealthy countries in the Middle East are exceedingly low and that added to relatively high average income per day makes it the best place to have a gas-guzzler for a vehicle to drive.

Consumers in other countries where the income is low and there does not exist oil in such abundant quantities, residents are not so lucky.

Residents in the country of Congo, where the price of gas at the pump tops out at $1.51 per liter, much spend more than their average per day income, and likely borrow more, so they can buy a single liter of gasoline.

According to the analysis done by Carmundi, just over 112% of the average income earned daily in Congo is required to by a liter of gas, with the average person earning just over $1.34 daily.

In Sri Lanka, close to half of the average daily earnings by consumers are needed to buy one liter of gas, which costs 96 cents, the ninth most expensive worldwide.

Although Indonesia gas is the fifth cheapest worldwide, the situation is almost as bad due to low incomes for households. Consumers must spend over 30% of their average daily earnings to buy a liter of gas.

The findings for this came from oil prices during the second quarter of last year along with the income data.

A senior economist said that while prices of gas in places such as the UAE are very low compared to other nations, it is actually the highest in the GCC or Gulf Cooperation Council.

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