Gasoline prices all over the world is soaring. On average, gasoline prices have increased more than 60 percent in the last two years.
However, the price of gas still remains low in some countries like Venezuela, which has the low gas price of 12.4¢.

High gasoline price can be linked to several things: Increased demand, Tensions with Iran , High demand in China and India.

Here is the list of 12 countries around the world which has the least expensive fuel prices.

• Venezuela 12.4¢
• Iran 40.4¢
• Saudi Arabia 45.4¢
• Libya 49.8¢
• Swaziland 53.5¢
• Qatar 72.8¢
• Bahrain 80.5¢
• Egypt 89.3¢
• Kuwait 89.8¢
• Seychelles 97.8¢
• Algeria $1.301
• Moldova $1.385

Fuel Prices : 12 World’s Most Expensive Countries

[ Data Sources: Business Week ]

China has rejected accusations that government-backed hackers broke into U.S. lawmakers’ computers.

Two U.S. Representatives this week revealed sources apparently inside China accessed their computers and copied sensitive information about Chinese dissidents and human rights.

Two U.S. Congressmen accused China of hacking their office computers. Rep. Frank Wolf (R-Va.) has accused China of hacking into computers in his office and elsewhere in Congress, including the House Foreign Affairs Committee.

The world is heading towards a global recession, latest forecasts from the International Monetary Fund (IMF) have predicted.

In it’s latest report International Monetary Fund (IMF) have predicted world growth could slow to 3.7 % in 2008— 0.5 % point lower than what was forecast in the January 2008, citing the unfolding financial market turmoil as the biggest downside risk to the global economy.

There is a 25 percent chance that the global economy will record 3 % or less growth in 2008 and 2009, equivalent to a global economic recession and market recession.

(Image credit: IMF)

Global growth will decelerate in 2008, led by a sharp slowdown in the United States, amid a housing correction and a financial crisis that has quickly spread from the U.S. subprime sector to core parts of the financial system, the IMF says in its latest World Economic Outlook.

China and India–which grew at 11.4 percent and 9.2 percent in 2007, respectively—are projected to grow at 9.3 percent and 7.9 percent, respectively, in 2008.

• World growth will slow to 3.7 percent in 2008, in wake of financial crisis
• United States, other advanced economies lead slowdown
• Emerging economies are likely to weather storm better, but not insulated.

Via - IMF