Hanover Advisors Inc.
02/14/2025 | News release | Distributed by Public on 02/14/2025 18:45
Visualized: Global Gas Prices in 2025
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Visualized: Global Gas Prices in 2025
February 14, 2025
Gas prices are a major factor in the global economy, impacting everything from consumer demand to industrial output. Gas prices can vary widely from country to country, however.
Suppliers and producers, like the U.S., Russia, and several Middle Eastern countries, tend to enjoy prices that are lower. Even in that context, gas prices in Iran are astonishingly low, with Iranians paying just 11 cents per gallon.
A country's tax policies and subsidies can also impact gas prices, such as in Norway. Despite being country being the largest producer in Europe, Norwegians pay some of the highest prices in all of Europe due to the country's tax policies and green energy initiatives.
Transportation and distribution can also play a part, and likely factor into Hong Kong's gas prices being the highest in the world, where consumers pay roughly $13 per gallon.
For more information on how gas prices can vary from country to country, our friends at Visual Capitalists have compiled the following infographic.