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World's cheapest gas: Top 10 countries

While Americans and Europeans  bemoan the cost of gasoline at the pumps, people in some other parts of the world enjoy filling up their tanks cheaply thanks to subsidies provided by wealthy, oil-rich governments.  Here are the 10 cheapest countries on Earth to fill a gas tank.

10. Algeria- $1.20 per gallon ($0.32 per liter)

  • By Michail Vafeiadis Contributor
  • Girish Gupta Contributor
  • Leigh Montgomery Staff

Algeria, an OPEC member, has the third-largest proven oil reserves in Africa behind Libya and Nigeria.  It was the continent’s fourth largest producer in 2010 following Nigeria, Angola and Libya. The European Union relies on the North African country to meet its environmental restrictions because of the Algerian oil has a low sulfur content.  Its industries are mostly nationalized and the government restricts imports, privatization, and other foreign involvement.  A majority (60 percent) of Algeria’s income comes from oil production.  

In order to combat high youth unemployment, the government proclaimed in 2010 that it would invest revenues from oil and gas exports in building new museums, theaters, and libraries.

 Unlike Saudi Arabia, Algeria will not increase its crude oil exports because of the escalating tensions (and oil prices) over Iran's nuclear ambitions.  "We have a program in place that will be maintained," said Youcef Yousfi, the Algerian Minister of Energy and Mining, the China's state-run Xinhuanet reports.

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Mark Sappenfield
Editor

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