How Much Is Gasoline In Italy?

octane-95 gasoline prices per litre: Prices for Rome are shown from 14-Feb-2022 to 23-May-2022. During that time, the average value for Rome was 1.83 Euro, with a low of 1.72 Euro on 18-Apr-2022 and a high of 2.14 Euro on 14-Mar-2022.

Which country has the most affordable gasoline?

While Americans and Europeans complain about the high cost of gasoline at the pump, individuals in other parts of the world benefit from government subsidies offered by affluent, oil-rich countries. However, gasoline subsidies disproportionately favour the wealthy (who possess automobiles) over the poor. According to the IMF, 65 percent of Africa’s fuel subsidies go to the wealthiest 40% of households (2010). Only 8% of the $410 billion in government fuel subsidies went to the poorest 20% of the people over the world.

The latest list of global gas pump prices was provided by the British insurance firm Staveley Head. The ten cheapest countries on the planet to fill a gas tank are shown below.

What is the reason for the high cost of gasoline in Italy?

The 22 percent VAT rate, as well as excise duty, determine the price you’ll pay at the pump in Italy (a tax on the production and consumption of goods). According to Codacons, the tax rate on a litre of gasoline is now 55.3 percent, and on a litre of diesel, it is 51.8 percent.

Is gasoline inexpensive in Italy?

According to Italian consumer watchdog Codacons, the average price at the pump in Italy is now 2.3 per litre for self-service petrol/gasoline and 2 for diesel.

Which country’s gas is the most expensive?

Hong Kong residents pay the highest worldwide gas costs, with a gallon costing $10.97. The second-highest petrol prices are in Norway, at $9.64 per gallon, followed by Denmark, where gas costs $9.32 per gallon on average.

Is gasoline available for free in Iraq?

According to Hamed Younis, deputy oil minister, the ministry is currently looking at initiatives to generate 1.2 billion standard cubic feet of associated gas per day out of 2.7 billion scf/d currently produced.

“By the end of these projects, we’ll have generated all of the gas related with oil extraction,” Younis explained.

He stated that the 1.2 billion scf/d projects include 200 million scf/d from Nasiriyah, 300 million scf/d from Halfaya, 400 million scf/d from Ratawi, and 300 million scf/d from additional fields.

According to Younis, associated gas accounts for 70% of overall gas reserves in the country, with the rest being free gas.

US waivers

Iraq relies on Iranian gas and power to help bridge the gap between its gas and electricity shortages. In the face of US sanctions on Iran’s energy industry, the government has been granted interim waivers to continue imports.

Iraq extended an agreement to buy Iranian power for 2020 and 2021 in the week ending June 6.

The US extended Iraq’s sanctions waiver to import Iranian power for another 120 days on May 7, as part of President Donald Trump’s efforts to back Iraq’s new prime minister, who was selected that month, and offer some stability to the country’s politically torn nation.

In 2018, the US attempted to squeeze Iran by putting sanctions on its oil exports. The waivers for Iraq have been shortened as a result of US pressure on Iraq to reduce its reliance on Iranian energy supply.

Akkas field

“Investment in both fields was delayed because to the security situation where they are located,” Younis explained, “but the ministry now has plans to develop both of them.”

Mansouriya can produce 300 million scf/d, while Akkas can produce 400 million.

Korea Gas Corp., or Kogas, a state-owned company in South Korea, struck a deal in 2011 to develop Akkas, Iraq’s largest non-associated gas field. During the 2014-2017 war, the Islamic State seized the field during their occupancy of large swaths of Iraq, but Iraqi forces reclaimed it in 2017.

“We’re in talks with the corporation to get the field developed,” Younis added. “They may continue to grow the field or bring in new partners. We want to see the field develop more quickly.”

What is the source of Europe’s high gas prices?

In the EU, taxes account for more than half of the fuel price, which varies widely from nation to country. Excise taxes on gasoline are often higher than on diesel, which has a direct impact on the diesel/gasoline imbalance.

Is diesel cheaper in Italy than gasoline?

To top it off, diesel fuel in Italy and many other European countries is actually less expensive than gasoline. So don’t panic if gas costs $8 a gallon; diesel is less expensive, and you can simply rent a diesel car (if one isn’t provided by default, request one) that will get you significantly more miles per gallon.