REVEALED: World's cheapest gasoline prices

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Venezuela is home to the world's cheapest diesel fuel prices, with an average of just $0.016 per litre, according to the findings of new research.

Residents of the South American state, who benefit from hugely subsidised petrol from the government, on average pay just $1.52 per month to fill up the pumps, or approximately 0.3 percent of their total income.

REVEALED: World's cheapest gasoline prices

The study, by Looking4Parking.com, also discovered that nine of the ten most expensive markets for diesel are located in Europe, while all ten of the cheapest countries are major oil exporters, such as Saudi Arabia and Iran.

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