UK is the world’s third most expensive place to buy petrol

On top of rising car tax and insurance prices, new research has found that British motorists are also amongst the hardest hit consumers at the petrol pumps.

A study has compared fuel prices across the world and has discovered that high levels of taxation and fuel duty make Britain the third most expensive place on the planet to buy a litre of petrol.

UK the third most expensive place to buy petrol

The research by car insurance firm Staveley Head and This Is Money investigated the costs of petrol across the world and made some startling findings.  World petrol prices range from just 2-3 pence per litre to £1.64 per litre petrol with the UK coming in third place.

The study found that the average cost of a litre of petrol in the UK was £1.35.  This was partly due to the high levels of taxation on petrol in the UK, with fuel duty accounting for £0.59 per litre and VAT being charged at 20 per cent.

The most expensive place in the world to buy petrol is in Oslo, Norway where a litre costs £1.64.

Oil producing countries charge a fraction of UK petrol price

The research also discovered the top ten places in the world to buy fuel.  Leading the way is the Venezuelan city of Caracas where petrol is just 2-3p per litre and the cost is controlled by the president, Hugo Chavez.

The main oil producing nations also boast cheap fuel with the price of a litre of petrol in Saudi Arabia, Qatar and Bahrain costing 15p or less.  Kuwait subsidises petrol and public transport in order to keep the cost of a litre to just 14p whilst the government of Turkmenistan provides 120 litres of free petrol to every car driver in the country every month.

So, it seems that British drivers’ complaints about the price of petrol appear to be justified.  Saving money on fuel is therefore vital to keep the costs down, and our previous article 3 Ways To Cut Your Petrol or Diesel Bills can help.

Do you have any tips to reducing the cost of fuel or that save you money on your motoring?