Named European countries with the most affordable gasoline

Luxembourg topped the ranking of European countries on the availability of gas for the population, Russia has one of the lowest fuel prices — on the 20th position in last place — Ukraine, according to a study by RIA Novosti.

The rankings used data from the statistics of European countries on the price of gasoline 95 octane as of the beginning of July 2020 (for Ukraine and Norway — by the end of may 2020). The price changes calculated in local currency countries. To evaluate the accessibility of motor fuel in various countries, experts, based on official statistics, to calculate the amount of gasoline that can be purchased on their monthly salary from the countries of Europe.

According to the researchers, Russia ranked 20 th place, between the Czech Republic and Greece. People in our country can get on their monthly salaries of about 924 liters of 95-octane gasoline. Russia is ahead of the availability of gasoline, the number of countries in Eastern Europe, neighboring Ukraine and Belarus.

The last place on the availability of gas for the population is Ukraine. The citizens of this country have the opportunity to purchase only 395 litres of fuel, which is eight times less than the leading Luxembourg and 2.3 times less than in Russia. Petrol in Ukraine is one of the cheapest in Europe, however, the low level of salaries does not allow it to be accessible to the public.

Besides Ukraine, the outsiders of the rating are Belarus, Hungary, Latvia, Romania and Bulgaria. The inhabitants of these countries can afford to purchase more than 700 litres of petrol a month.

In absolute price, without reference to the salary of the lowest gasoline prices of all countries participating in the rankings, marked in Kazakhstan. In terms of rubles, the price of a liter of 95-octane gasoline in the country is 29.6 rubles. On the second place on cheapness of fuel is a price to 46.4 rubles per liter. According to Rosstat, in comparison with the beginning of the year (from mid-January to the beginning of 2020 July 2020) the price of 95-th gasoline in the country rose by 1.3%, while diesel fuel decreased by 0.2%.

Third place in the cost of gasoline among European countries is Belarus, where a liter of gasoline costs about 52 Russian rubles. Fourth place for the low price of gasoline is Ukraine. In terms of rubles a liter of 95-octane gasoline to motorists in this country will cost 57.6 ruble. Next in the ranking are mostly Eastern European countries that have relatively low fuel prices.

The most expensive gasoline from Europe in terms of the Russian currency is sold in the Netherlands is 125.8 rubles per liter. This is followed by Denmark, Greece, Italy and Portugal. In these countries, a liter of gasoline will cost 111 rubles per liter.

In most countries, with expensive petrol, the main reason for this cost are high, fuel taxes.

The cheapest diesel fuel is also sold in Kazakhstan of 31.8 rubles per liter. As the price of gasoline, Russia is in second place on the cheap diesel fuel price 47,9 rubles per liter. The most expensive diesel fuel sold in Sweden is 112 rubles per liter. More than 100 rubles per liter of diesel fuel costs in Italy, UK, Belgium and Norway.

In almost all countries participating in the rating, gasoline prices dropped. Most significantly, the cost of gasoline has decreased in Slovenia (-23,1%), Bulgaria (-22,1%) and Ukraine (-22,1%). The growth of prices was noted only in three countries: in Russia ( 1,3%), Belarus ( 1.1%) and in Kazakhstan ( 1,0%).

The situation with the change in the price of diesel fuel was similar to the dynamics of gasoline prices. The price of diesel fuel has decreased everywhere except in Belarus.

Experts expect that the average price of oil in 2020 will be about $ 45 per barrel, that is approximately 30% lower than in 2019. Accordingly, in Europe the price of motor fuel will also be significantly lower than last year. However, in Russia, where the pricing mechanism is largely associated with the dynamics of the exchange rate and administrative controls, to expect lower prices is unlikely. The increase in gasoline prices can be for the year of about 4-5%. Given the comparable wage growth, we can assume that the availability of gasoline in our country is almost unchanged.

As explained by the drafters of the rating in the first half of 2020 there has been a sharp decline in oil prices. Although the situation on the market stabilized in the second quarter, however, compared with the beginning of the year the price drop was 30%. Due to the fact that the cost of raw materials for the six months decreased, the retail price of motor fuel in Europe has also declined. It is obvious that the availability of gasoline for consumers depends not only on prices but also on incomes.