Bloomberg recently published a study that compared petrol prices between sixty-one countries throughout the world. Here's how Australia measured up.
Bloomberg utilised GlobalPetrolPrices.com to compare 95-octane petrol prices between the countries.
Three metrics were measured in the study: the price per liter (or gallons in some countries), the price compared to a day's wage in each country and how much people from each country spend on petrol annually as a percentage of their total income.
The study allows users to change the country and currency, as well as individual quarters back to 2014. You can also compare by liter or gallon.
This is what the report had to say about Australia:
"Australia was one of the first nations to institute a wide-ranging tax on carbon dioxide pollution. It then became the first to revoke one. The country is a gluttonous consumer of fossil fuels and has some of the highest per capita greenhouse-gas emissions among industrial nations. [Petrol] is cheap, and people drive a lot."
But how did we do overall?
When we looked at the first quarter of 2018, Australia had some interesting results:
We currently have the 16th least expensive petrol, with the average price per liter sitting at $1.41. When it comes to affordability, we come in 6th. With an average daily income of $206.50, it takes 0.68% of a day’s wages for one liter of petrol.
Finally, for income spent, Australia is 36th. The study found that the average Australian driver uses 750.64 liters a year, which is 1.41% of the typical salary.
So it turns out we're doing pretty well, comparatively.
The country with the cheapest petrol is Venezuela, with $0.01 per liter. The most expensive is Hong Kong at $2.67 per liter.
You can check out the graphics yourself over at the Bloomberg website.