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Tue 30 Jun 2015 01:48 PM

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Saudi petrol prices ranked cheapest in the GCC

New study shows that the GCC still offers among the lowest in the world in Q2

Saudi petrol prices ranked cheapest in the GCC
(Getty Images)

While it’s one of the cheapest places in the world for petrol, the UAE is among the most expensive in the GCC, according to a new survey.

Online car marketplace Carmundi, in a study of petrol prices in the 19 countries it operates in, has found that the cheapest country to buy a litre of petrol in the GCC region was Saudi Arabia, where it costs $0.15 per litre, while in Qatar is costs $0.26 per litre. The cost of a litre in the UAE was $0.47, according to the survey based on Q2 2015 prices.

The cost of filling a vehicle at the petrol pumps in the GCC remains exceptionally low.

The Carmundi survey found that the percentage of income needed to buy a single litre of petrol in Qatar was 0.07 percent. Saudi Arabia 0.10 percent and UAE 0.28 percent, which compares with 21.35 percent in Pakistan, 43.84 percent in Sri Lanka ($0.96 a litre) and 112.69 percent in the Democratic Republic of Congo ($1.51 a litre).