Gasoline, as known in North America, but commonly referred to as petroleum in several other countries of the world is one of the most sought after commodity for running our vehicles. The actual petroleum is the crude oil obtained from underground. Crude oil is obtained from the underground and refined into its various components, one of which is gasoline. For more details on abstraction, refining of petroleum click the link: CRUDE OIL.

The pump price (or retail price to consumers) of gasoline in a country is based on costs of mining, refining, transportation, importation/exportation and government subsidies. Gasoline prices tend to be cheaper in the Organization of Petroleum Producing Countries (OPEC), countries that refines their oil locally and where there are good government and well managed government subsidies for oil production/importation and transportation/distribution.

The costs of petroleum products from various parts of the world as of November 11, 2011 are presented below. These prices will be updated every 6 months.

This table is currently being updated

Related websites:

• Oil-producing countries (Wikipedia)
• OPEC (website)