Iraq Slips Two Ranks in Global Fuel Price Index, Now at 13th Position

Iraq has descended two positions in the global ranking of countries with the lowest fuel prices, now standing at 13th place, data by the Global Petrol Prices website demonstrated on Wednesday.

The website’s table for May 2023 reveals that Iraq’s position has deteriorated from its previous 11th rank among the 170 countries listed, after local gasoline prices rose to 573 cents per liter this month.

The table showed Venezuela maintaining its position as the country with the lowest fuel prices globally, with local gasoline costing only 4 cents per liter.

Iran ranks second, followed by Libya, Angola, Algeria, Kuwait, Egypt, Turkmenistan, Malaysia, Kazakhstan, Bahrain, and Bolivia. Hong Kong occupies the last position on the list, with gasoline prices at $2.961 per liter, preceded by Monaco at $2.284 per liter.

Iraq had previously advanced one position in the global fuel price index during March, as Nigeria increased its domestic gasoline prices to 558 cents per liter, consequently dropping to the 14th position in the ranking.

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