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By ONE Liners Agency
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By ONE Liners Agency
July 01, 2012
Below are the top 10 countries in the world where high gas
prices are the norm. The data has been revealed by British insurance firm
Staveley Head. The government there anticipates an eventual decline in oil and
gas production, and saves state petroleum revenues in the world’s second
largest sovereign wealth fund, which was valued at over $500 billion in 2011.
Norway - $10.12 per gallon
Norway is world's 7th largest oil exporter and enjoy strong
economy. About 20 percent of the country's revenue comes from petroleum sector.
Turkey - $9.99 per gallon
Economy of Turkey mostly enjoys free market and privatizing
industry is getting a push. The country is highly dependent on oil and gas imports
for 97 percent of its energy.
Netherlands - $9.13 per gallon
Being fifth largest economy in the eurozone, Netherlands
economy grew rapidly until 2008 global financial crisis. Petroleum refining is
a key part of the nations' industrial sector.
Italy - $9.01 per gallon
The country is eurozone's third largest economy with highest
public perceptions of corruption in the region. It's underground economy make
about 17 percent of the GDP. Tax evasion is also a widespread issue. Last year
the government passed several packages to balance budget and the gas taxes was
increased 24 percent.
Greece - $8.95 per gallon
Claimed being lagging in payment, the Iranian government
stopped exporting crude oil to refiners in Greece in February 2012.
Denmark - $8.82 per gallon
The country levies high taxes on automobiles as well as on
gasoline. A sales tax of 100 percent is levied on cars and 50 percent taxes on
gasoline price. Though Denmark got more oil in the energy mix than US coming
from North sea oil patch and not for Middle East, yet people mostly commute by
walking, bicycle or public transport.
United Kingdom - $8.76 per gallon
Since March 2010 the prices of fuel have jumped 20 percent.
Sweden - $8.70 per gallon
The country has levied energy taxes and carbon taxes on fuel
since 1991 imposed on households and giving concessions for industry. In 2006
it rose oil prices to become first oil free country in the world by 2020.
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Eritrea - $8.70 per gallon
Attained independence in 1991, Eritrea is one of the poorest
countries in the world with one of the most repressive governments in the
world. The country got low per capita petroleum consumption and ranks 168th in
the world among 215 countries.
Belgium - $8.64 per gallon
In 2011 the motor fuel prices in the country rose by 16
percent compared to 12 percent in the neighboring countries. It is heavily
industrialized country with high consumption of petroleum.
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