Global Petrol Prices Today 2026: Petrol Price by Country, Region & Pakistan
Global petrol prices in 2026 show significant variation between countries. In oil-producing nations, prices can be just a few cents per litre due to subsidies, while high-tax countries may see prices exceed $3 per litre. The guide provides a comparison of petrol prices globally, highlighting the cheapest and most expensive countries, regional prices, and specifics like Pakistan’s petrol rate as of October 22, 2026. It notes that the provided data is a snapshot rather than real-time, influenced by factors such as crude oil prices, exchange rates, and government policies.
Global Petrol Price Comparison: Pakistan vs the World
| Information | Latest Available Data |
| Global average petrol price | About $1.59 per litre |
| Global comparison snapshot | Week of 28 September 2026 |
| Countries covered | 170+ countries |
| Comparison unit | USD per litre |
| Fuel used for comparison | Octane-95 gasoline/petrol or closest equivalent |
| Pakistan petrol price | Rs 379.31 per litre |
| Pakistan diesel price | Rs 390.11 per litre |
| Pakistan price date | 20 October 2026 |
| Typical update frequency | Weekly/monthly depending on country |
| Pakistan pricing | Daily adjustments introduced in 2026 |
The global average is a simple average across reporting countries and is not weighted by population,
Petrol Prices Around the World in 2026
The average global petrol price is $1.59 per litre, with significant variations. It’s very cheap in subsidised countries like Libya and Iran, while it’s higher in Hong Kong, Malawi, and Europe.
Selected Global Petrol Prices
| Country | Petrol Price (USD/Litre) | Region |
| Libya | $0.02 | North Africa |
| Iran | $0.03 | Middle East |
| Venezuela | $0.04 | South America |
| Kuwait | $0.34 | Middle East |
| Algeria | $0.35 | North Africa |
| Egypt | $0.46 | North Africa |
| Saudi Arabia | $0.62 | Middle East |
| Nigeria | $1.00 | Africa |
| Malaysia | $1.12 | Southeast Asia |
| UAE | $1.01 | Middle East |
| United States | $1.27 | North America |
| India | $1.13 | South Asia |
| China | $1.38 | East Asia |
| Australia | $1.57 | Oceania |
| Brazil | $1.26 | South America |
| Canada | $1.47 | North America |
| South Korea | $1.41 | East Asia |
| South Africa | $1.62 | Africa |
| Mexico | $1.57 | North America |
| Spain | $2.19 | Europe |
| United Kingdom | $2.30 | Europe |
| Italy | $2.39 | Europe |
| France | $2.43 | Europe |
| Switzerland | $2.56 | Europe |
| Germany | $2.58 | Europe |
| Netherlands | $2.78 | Europe |
| Denmark | $2.86 | Europe |
| Hong Kong | $4.41 | East Asia |
| Israel | $2.61 | Middle East |
The text states that retail pump prices typically include taxes and duties and are subject to change
Which Country Has the Cheapest Petrol in 2026?
In late September 2026, Libya had the cheapest petrol at about $0.02 per litre. The countries with the lowest petrol prices are mainly oil producers or those with significant government subsidies for domestic fuel.
10 Countries With the Cheapest Petrol
| Country | Petrol Price (USD/Litre) |
| Libya | $0.02 |
| Iran | $0.03 |
| Venezuela | $0.04 |
| Angola | $0.33 |
| Kuwait | $0.34 |
| Algeria | $0.35 |
| Turkmenistan | $0.43 |
| Egypt | $0.46 |
| Qatar | $0.58 |
| Bolivia | $0.58 |
Why Is Petrol So Cheap in These Countries?
The price of petrol at the pump does not always reflect the actual cost of producing fuel. Governments can influence fuel prices through various mechanisms, including:
- Fuel subsidies
- Reduced fuel taxes
- Regulation of retail prices
- Domestic oil production
- Local refining capabilities
- State assistance in fuel distribution
As a result, consumers may often pay significantly less than what the fuel would typically cost in the international market. Notably, the impact of energy subsidies is particularly evident in countries like Libya, Algeria, and Egypt.
Which Country Has the Most Expensive Petrol in 2026?
In late September 2026, Hong Kong had the highest petrol price in the international comparison, at approximately $4.41 per litre.
10 Countries With the Most Expensive Petrol
| Country | Petrol Price (USD/Litre) |
| Hong Kong | $4.41 |
| Malawi | $3.24 |
| Norway | $3.12 |
| Denmark | $2.86 |
| Netherlands | $2.78 |
| Finland | $2.64 |
| Israel | $2.61 |
| Liechtenstein | $2.60 |
| Germany | $2.58 |
| Switzerland | $2.56 |
High petrol prices are linked to fuel taxes, VAT, environmental levies, import costs, and distribution expenses. Being an oil producer doesn’t ensure cheap petrol because governments control the extent to which international fuel costs are passed to consumers through subsidies or taxation policies.
What Is the Average Petrol Price in the World in 2026?
The global average petrol price was approximately $1.59 per litre in the week of 28 September 2026. However, this average is a simple country average and does not account for population consumption, meaning it may not represent the actual cost for an average driver worldwide. It serves as a benchmark for country-level comparisons rather than actual prices paid by consumers.
Petrol Prices by Region
Asia
Asia has one of the widest ranges of petrol prices.
The late-September 2026 comparison places:
- Saudi Arabia around $0.62/L
- Malaysia around $1.12/L
- UAE around $1.01/L
- Japan around $1.08/L
- India around $1.13/L
- China around $1.38/L
Pakistan’s petrol price should be viewed separately because its 2026 pricing and October price are more recent. As of October 2026, the price is approximately $1.42 per litre.
Europe
Europe generally has some of the world’s highest petrol prices.
| Country | Petrol Price |
| Spain | $2.19/L |
| UK | $2.30/L |
| Italy | $2.39/L |
| France | $2.43/L |
| Switzerland | $2.56/L |
| Germany | $2.58/L |
| Netherlands | $2.78/L |
| Denmark | $2.86/L |
One of the key drivers behind those rising pump prices is fuel taxation, which plays a significant role in the cost we see at the gas station.
Africa
African petrol prices show significant variation. Nigeria has a price of about $1.00/L despite being a major oil producer, while Egypt and Algeria offer lower prices. In contrast, South Africa and Kenya experience higher costs due to their fuel markets being more exposed to international prices and import costs.
North America
In late September, petrol prices were approximately $1.27/L in the United States, $1.47/L in Canada, and $1.57/L in Mexico. The lower US price compared to many European countries is partly due to lower fuel tax levels.
South America
South America displays a significant price range for fuel. Venezuela has the lowest price at about $0.04/L, while Brazil is around $1.26/L and Colombia around $1.25/L. Argentina follows at approximately $1.42/L, and Chile’s price is about $1.46/L.
Middle East
The Middle East contains both some of the cheapest and most expensive petrol markets.
| Country | Petrol Price |
| Kuwait | $0.34/L |
| Qatar | $0.58/L |
| Saudi Arabia | $0.62/L |
| Oman | $0.62/L |
| UAE | $1.01/L |
| Israel | $2.61/L |
This illustrates an important point: regional oil production does not automatically determine retail petrol prices.
Oceania
In Australia, the price of fuel was quite reasonable at about $1.57 per liter. Meanwhile, just across the Tasman Sea in New Zealand, motorists faced a steeper price tag of around $1.87 per liter. It’s interesting to see how these two neighboring countries differ when it comes to fuel costs!
Pakistan Petrol Price in 2026
Pakistan’s petrol pricing system underwent significant changes in 2026, warranting separate attention.
- Petrol: Rs 381.14Â per litre
High-Speed Diesel: Rs 390.11 per litre
- Effective rates were cited starting from 22 October 2026.
- Pakistan implemented daily petroleum price adjustments in July 2026, allowing domestic prices to react more quickly to international market changes.
- Using an exchange rate of about Rs277–278 per US dollar, the October petrol price is approximately $1.42 per litre.
- The October price conversion should not be confused with the September global ranking, as they are based on different dates.
Petrol Price in Pakistan vs Other Countries
| Country | Approx. Petrol Price |
| Libya | $0.02/L |
| Iran | $0.03/L |
| Saudi Arabia | $0.62/L |
| UAE | $1.01/L |
| United States | $1.27/L |
| India | $1.13/L |
| China | $1.38/L |
| Australia | $1.57/L |
| Canada | $1.47/L |
| Pakistan | ~$1.42/L |
| South Korea | $1.41/L |
| UK | $2.30/L |
| Germany | $2.58/L |
| Israel | $2.61/L |
When we look at the energy landscape, Pakistan finds itself in an interesting position. It stands significantly higher than the heavily subsidized oil-producing nations, yet it still trails behind many of the Western European markets in this comparison.
Why Are Petrol Prices Different in Different Countries?
The cost of petrol varies between countries due to several key factors:
- Crude Oil Prices: Fluctuations in international crude oil prices directly impact production and import costs.
- Fuel Taxes: High fuel duties and VAT can lead to expensive petrol, even with similar crude oil prices.
- Government Subsidies: Subsidies can lower consumer prices, making petrol cheaper in some oil-producing countries.
- Refining Costs: Petrol prices can be affected by refinery capacity, maintenance, and product demand, independent of crude oil prices.
- Transportation and Distribution: Costs associated with transporting and distributing fuel contribute to the final price.
- Currency Exchange Rates: A weakening local currency against the US dollar can make imported fuel more expensive.
Does Producing Oil Mean Cheaper Petrol?
- Oil-producing countries may have cheaper domestic crude and the option to subsidize fuel.
- Governments can impose high taxes or align domestic fuel prices with international market prices.
- Norway exemplifies this, as despite being a major oil producer, its petrol prices are high due to taxation and pricing policies.
- Oil production does not automatically lead to cheap petrol; retail prices depend on government policies.
Petrol vs Diesel Prices in 2026
Petrol and diesel are both refined from crude oil, but their prices can differ significantly.
| Country | Petrol | Dieel |
| Pakistan | Rs 379.31/L | Rs 390.11/L |
| United States | ~$4.79/gal | ~$6.52/gal |
| United Kingdom | 174p/L | 198p/L |
Diesel prices are impacted by taxes, demand, freight, refinery yields, and supply constraints. In 2026, US diesel hit a record high of $6.505 per gallon on September 20.
Is Cheap Petrol Actually More Affordable?
Petrol price alone doesn’t determine affordability; income levels matter too. A lower price can strain households if incomes are low. To assess affordability, calculate the cost of a full tank as a percentage of income.
This is why international fuel comparisons should distinguish between:
- Petrol price
- Petrol affordability
- Average income
- Fuel consumption
- Cost of living
The source material specifically notes that fuel affordability can be assessed by measuring the cost of a 40-litre tank against income.
Global Petrol Prices in USD, EUR, GBP and PKR
International petrol prices are commonly expressed in USD per litre due to its use in global oil markets, but consumers typically consider prices in their local currencies. Key currencies for comparison include:
- USD: For international comparisons.
- EUR: For euro-area countries like Germany, France, Italy, and Spain.
- GBP: For the UK, where prices are displayed in pence per litre.
- PKR: In Pakistan, petrol prices are quoted in Pakistani rupees.
As of October 14, 2026, the petrol price in Pakistan is Rs 392.66/L, which is approximately $1.42/L, although the conversion rate varies with USD/PKR fluctuations.
Why Global Petrol Price Rankings Change
International petrol rankings are subject to change due to various factors, including:
- International crude oil prices
- Exchange-rate movements
- Fuel tax changes
- Government subsidies
- Domestic fuel pricing adjustments
- Refinery disruptions
- Shipping costs
- Supply shortages
- Geopolitical events
This volatility is particularly relevant in 2026, with significant oil-market fluctuations anticipated due to Middle East supply and shipping issues. A country that seems relatively inexpensive now could rise in rankings if subsidies are cut or its currency weakens.
How Often Do Petrol Prices Change?
There is no universal global schedule for pricing.
- In deregulated markets, prices can change weekly or even more frequently based on market conditions.
- In regulated markets, governments may set and review prices monthly or follow a predetermined cycle.
- Pakistan is a specific example where, starting in July 2026, the country shifted to daily petroleum price adjustments.
- It’s important to check the date of petrol-price figures before making comparisons between countries.
How Global Petrol Prices Changed During 2026
In 2026, the global average petrol price was approximately $1.30/L in February. Spring saw increased pressure in crude oil markets due to Middle East supply concerns. By July, the international petrol average rose to about $1.47/L. In mid-September, Brent crude traded around $104–105 per barrel, reflecting further pressure in the crude market, which also impacted countries like Pakistan that frequently adjust domestic prices.
What Determines the Petrol Price at a Petrol Station?
The petrol price consumers pay at the pump is influenced by several factors, including:
- Crude oil cost
- Refining cost
- Transportation
- Storage and distribution
- Oil marketing/retail margins
- Government taxes, minus any subsidies or support
Different countries can have varying petrol prices even with the same global crude price due to differences in these factors.
Global Petrol Prices: Data and Methodology
This article compares international petrol prices using data from GlobalPetrolPrices.com for over 170 countries. Prices are converted to US dollars based on current exchange rates, with Pakistan figures from OGRA and UK/US figures from their respective sources.Â
Readers should note several limitations:
- Update dates for global datasets may vary.
- Regulated markets may not update frequently.
- Currency conversion rates fluctuate daily.
- Subsidised prices may not reflect true fuel costs.
- Crisis economies can have differing official and informal exchange rates.
- Rankings can change quickly due to tax or policy shifts.
Thus, the table should be viewed as a dated comparison rather than a real-time petrol-price tracker.
Conclusion
Global petrol prices vary significantly across countries, influenced by factors like taxes, subsidies, crude oil prices, refining costs, transportation expenses, and exchange rates. As of October 2026, petrol prices in Pakistan are Rs 379.31 per litre, approximately $1.42 per litre. It’s crucial to consider the date of petrol price comparisons, as figures from July cannot be applied to September during periods of oil-market volatility. For current prices, readers should refer to their national regulator or official announcements before making financial or travel decisions.
Frequently Asked Questions
What is the global petrol price in 2026?
The latest broad international snapshot used in this article puts the average petrol price at approximately $1.59 per litre for the week of 28 September 2026.
Which country has the cheapest petrol in 2026?
According to the September 2026 dataset used here, Libya had the lowest listed petrol price at approximately $0.02 per litre.
Which country has the most expensive petrol?
Hong Kong had the highest listed price in the September 2026 comparison at approximately $4.41 per litre.
What is the petrol price in Pakistan?
The source material lists Pakistan’s petrol price at Rs 379.31 per litre as of 22 October 2026.
Why is petrol cheaper in oil-producing countries?
Many oil-producing countries use domestic production, subsidies, low fuel taxes, or government-controlled pricing to keep retail petrol prices low.
However, oil production alone does not guarantee cheap petrol.
Why is petrol expensive in Europe?
European petrol prices are generally higher because of fuel duties, VAT, environmental taxes and, in many cases, fuel-import and distribution costs.
Is petrol the same as gasoline?
Yes. Petrol and gasoline refer to the same basic fuel. “Petrol” is commonly used in Pakistan, the UK, and many Commonwealth countries, while “gasoline” is commonly used in the United States.
Sources & References
- GlobalPetrolPrices provides international gasoline and diesel price data.
- Mappr offers a gasoline price comparison for 2026 based on GlobalPetrolPrices data.
- OGRA in Pakistan issues petroleum price notifications.
- The UK Department for Energy Security and Net Zero (DESNZ) is a relevant source for energy data.
- AAA provides US national fuel-price information.
- Other sources include various market and exchange-rate references.
- Prices mentioned are snapshots from specific dates and may change thereafter.