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Iraq has slipped one spot to the 14th position in the ranking of countries with the lowest petrol prices, the latest data from Global Petrol Prices, a prominent international resource tracking fuel costs, showed this weekend.
The website’s May 2023 report revealed that Iraq’s descent was prompted by a slight increase in local fuel prices to 573 cents per liter during May. This adjustment came after Nigeria reduced its domestic petrol price to 551 cents per liter, pushing it ahead of Iraq and into the 13th position.
Iraq’s slip in ranking comes on the heels of its advancement just a month earlier, in March, when it had scaled up after Nigeria had its domestic petrol prices increased.
According to the same report, Venezuela retained its position at the top of the list, boasting the lowest petrol prices globally at 4 cents per liter. Iran, Libya, Angola, Algeria, Kuwait, Egypt, Turkmenistan, Malaysia, and Kazakhstan also fared better than Iraq, occupying the spots from the 2nd to the 10th respectively. Bahrain, Bolivia, and Nigeria filled out the 11th through 13th ranks.
On the opposite end of the spectrum, Hong Kong and Monaco found themselves at the bottom of the list with petrol prices as high as $3.885 and $2.929 per liter, respectively.
