IRISH PETROL PRICES are amongst the world’s highest, according to a new survey across 60 countries by Bloomberg.
Ireland ranked 18th in the survey, with the average price per gallon of premium petrol priced at $7.34 (€5.87), a 12 per cent drop on the last quarter. However, Ireland ranked as 44th in terms of its “pain at the pump ranking”. This was because the share of a days wages needed to buy a gallon of petrol was 5.9 per cent.
With a daily income of $3.97, India is ranked highest in terms of “pain at the pump”. The average Indian needs to work 1.4 days to afford a gallon of fuel, which is priced at $5.44.
Norwegians pay the most of any nationality for their petrol, with income from the country’s oil industry is used for services such as free university education rather than for subsidising fuel. With high incomes, the share of a day’s wages needed to buy a gallon of petrol is 3.7 per cent.
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