Global Gasoline Prices: How Canada Stands

Canadians spend the largest proportion of their income on gasoline compared to other G7 countries, according to global gasoline price tracking website GlobalPetrolPrices.com.

Their data shows that Canadians spend 4.4% of their income on gasoline, which is significantly higher than second-tier Americans who spend 3%. Other G7 countries like Japan and the UK spend half as much. The lowest proportion of income spent on gas is that of people living in France (0.7%).

When it comes to the cost of gasoline per liter, countries facing high inflation seem to pay more for gasoline, with the United States being an exception.

Rising gasoline prices have pushed up inflation in most countries.

Among the G7 countries, the UK faces the highest inflation at 9.4% and pays $2.88 a liter of petrol. The country also ranks 10th among the 168 countries where gas is the most expensive. This is well above the global average gasoline price of $1.8 per liter and ranks first, followed by Italy ($2.48) and France ($2.38), among the G7 countries.

While Canada ranks among the last of the G7 countries, the United States pays the least, $1.52 per litre.

Where you will find the most expensive gas in the world

While richer countries like the UK and Canada pay higher prices, the data shows poorer countries, oil producers and exporters like Iraq and Saudi Arabia getting gas at significantly lower prices.

At $2 per litre, gasoline prices in Canada are above average compared to the rest of the world, where the average price is around $1.8 per litre.

GlobalPetrolPrices.com ranks global gasoline prices in 168 countries and Canada ranks 68th on the list.

In June this year, monthly average retail gasoline prices saw a sharp increase of more than 50% since 2021.

But there are many countries ahead of Canada when it comes to expensive gasoline.

While the average gas price in mainland China is $1.76 per litre, in Hong Kong the gas price climbs to $3.83, which is the most expensive in the world.

Iceland has the second most expensive gas, with prices reaching $3.18 per litre, and 37% more than someone in Canada would pay.

At $1.50 per litre, the United States ranks 118th on the list, followed by Indonesia and Mexico (both at $1.5 per litre).

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