Israel ranks eleventh in a Gas Price Ranking by Bloomberg with an average price of $8.28 a gallon.
Israel is just less than Finland and Turkey in that ranking, but above both Britain and Hong Kong. Norway is at the top of the ranking with fuel in the Nordic nation costing nearly $9.79 a gallon.
The United States holds the 51st place in the listing, with fuel costing $3.69 a gallon on average in different states that were surveyed. Gas in Venezuela is just over $0.04 a gallon and is the cheapest among 63 countries that were surveyed.
The listing also ranks each country by how much pain is experienced at the pump, meaning what percentage of the average daily income per individual is needed to purchase a gallon of gas.
For this ranking, Israel was in 35th place. The average daily income for Israel was listed at $104. This means 8% of that amount is required to purchase a gallon of gas.
Many countries in Europe such as the Netherlands, Belgium and Denmark maintain taxes that are very high and no or very low subsidies on consumption of gas, which results in some of the world’s highest fuel prices.
The price for one gallon of gas has not raised many concerns as the incomes remains high and there are alternative transportation forms like public transportation and bicycling that are supported and readily available.
For example, Norway has the world’s largest share of cars that are electric despite its domestic natural gas production. The Nordic nation instead uses gas export profits to fund public benefits that include free university education.
However, nations with high unemployment and low wages like Italy and Greece have felt a big impact when heading to the pumps to fill up.
In Israel, cites the report, gas prices are a central complaint in the cost of living over recent years. Benjamin Netanyahu the Prime Minister of Israel has responded by putting policies that cap the prices of octane gas.