We are populating the list of TOP 10 CHEAPEST PETROLEUM COUNTRIES IN THE WORLD 2012.These countries are considered the cheapest petroleum countries in the world.The production rate of petroleum in these countries are so high according to the available resources.
10TH TOP TEN-OMAN
Oman is the 10th cheapest petroleum countries in the world.The Arabic state of Oman in south-west Asia produces 600,000 barrels every day, so the government gives its citizens a break when it comes to petrol prices.
Petroleum Rate- 26.90 Rs/liter(0.12 Rials/L)
9TH TOP TEN- ALGERIA
Algeria is the 9th cheapest petroleum country in the world. It is situated in north African State.The vast north African state gets 60 % of its income from oil production. It is the world’s 13th biggest oil producer and 9th biggest exporter.Despite the cheap petrol prices, with the average price for a litre coming in at 19.75 Rs, Algeria has suffered from shortages in recent months as smugglers have been sending petrol to crisis-torn Libya.
Petroleum Rate- 19.75 Rs/liter( 30DA/L)
8TH TOP TEN-QATAR
Qatar is the 8th cheapest country in the world.It is situated in the middle eastern country.The Middle Eastern country has the world's largest per capita production and proven reserves of both oil and natural gas.The most of the income of this country comes from oil and gas.
Petroleum Rate- 13.53 Rs/liter( QAR 1.00/L)
7TH TOP TEN-BHRINE
Bhrine is the 7th cheapest country in the world.The average price for a litre of petrol in the small island state near the western shores of the Persian Gulf is 13.10 Rs.The country’s recent boom is built on oil, with 60 per cent of its government’s wealth coming from oil production.
Petroleum Rate- 13.10 Rs/liter(BHD 0.100/L)
6TH TOP TEN- KUWAIT
Kuwait is the 6th cheapest country in the world.The country has the world’s fifth largest oil reserves and this means that the average price for a litre of petrol is 10.67 Rs.The government subsidises petrol and public transport.
Petroleum Rate- 10.67 Rs/liter(KWD 0.060/L)
5TH TOP TEN- EGYPT
Egypt is 5th cheapest country in the world.The north African country, which has undergone political and social upheaval in recent months, has an uncertain future.But Cairo comes in as the 5th cheapest city in the world for petrol at 10.61 Rs per litre. For how much longer remains unclear.
Petroleum Rate- 10.61 Rs/liter(LE1.3/L)
4TH TOP TEN-TURKMENISTAN
Turkmenistan is 4th cheapest petroleum countries in the world.UK motorists may want to look away at this fact: car drivers in Turkmenistan are entitled to 120 litres of petrol free per month, so the price is not all that relevant.The average price for a litre in the Central Asian country is 9.29 Rs.
Petroleum Rate- 9.29 Rs/liter(TMM 2700/L)
3RD TOP TEN- LIBYA
Libya is the 3rd cheapest petroleum country in the world.As the battle for democracy rages in Tripoli and across Libya, with Colonel Gaddafi close to being ousted, petrol prices remain the third cheapest place in the world.Libya is the 3rd biggest producer of petrol in the world and the average litre in the North African country is 7.87 Rs.
Petroleum Rate- 7.87 Rs/liter(LD 0.2/L)
2ND TOP TEN-SAUDI ARAB
Saudi Arabia is the 2nd cheapest country in the world.Saudi Arabia is estimated to account for 20-25 per cent of the world’s oil reserves, and ranks as the highest exporter of petrol, so it is no wonder that it is the second cheapest place in the world, with the average litre costing 5.92 Rs.It plays a leading role in Organisation of Petroleum Exporting Countries (Opec) and the petroleum sector is estimated to contribute to roughly 45 per cent of budget revenues, 55 per cent of GDP, and 90 per cent of export earnings.
Petroleum Rate- 5.92 Rs/liter(SAR 0.45/L)
1ST TOP TEN - VENEZUELA
Venezuela is the 1st cheapest country The average price for a litre of petrol in Venezuela is around the 1.04 Rs mark, with President Hugo Chavez controlling prices in the South American country.This is because Venezuelans consider cheap fuel as a sort of birthright – a fact backed up by a previous government's attempt to raise prices in the late 1980s triggering riots that left hundreds dead.
Petroleum Rate- 1.04 Rs/liter(BsF. 0.097/L)