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 ]

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 countires around the world which has the most expensive fuel prices.

1. Eritrea $9.579
2. Norway $8.732
3. Britain $8.379
4. The Netherlands $8.368
5. Monaco $8.313
6. Iceland $8.277
7. Belgium $8.224
8. France $8.036
9. Germany $7.864
10. Portugal $7.836
11. Italy $7.731
12. Denmark $7.719
13. U.S. $3.45

Data Sources: Business Week

Indian Billionaire Vijay Mallya’s Kingfisher Airlines is re-evaluating whether it should launch the international operatios or defer it for a few months.

Due to sharp rise in aviation turbine fuel prices, the slowdown in international travel and the uncertainty in the aviation market (many US carriers have gone bankrupt) Kingfisher Airlines has decided to rethink its whole strategy of flying abroad.

Kingfisher Airlines was scheduled to launch its international operations with a Bangalore-San Francisco service on August 27. The inaugural flight to San Francisco was to be followed with flights to other destinations like New York, London and cities in South-East Asia.

[ Source : Business Standard ]

India’s inflation rate accelerated to a 13-year high on a recent hike in retail fuel prices and because of an increase in non-food items.

India’s wholesale prices jumped 11.05 percent in the week to June 7, the highest since February 1995. The inflation rate was 8.75% in the previous week. India doesn’t calculate wholesale price inflation on a monthly basis.