Diesel is any liquid fuel used in diesel engines. The name is derived on the inventor name Rudolf Diesel who invented diesel engine. Diesel fuel is generated from petroleum and by other means. The principal that measures the quality of fuel is called Cetane number.The diesel and fuel prices used in motor vehicles have shown remarkable change in past years. According to the report published in United States, gasoline price almost doubled between 2003 and 2008. Hike in fuel price have now turn into an emotional issue around the world. Puzzled policy makers are looking for any tactics that could bring generous decrease in price. Middle East countries are very rich in petroleum reserves because of which external forces are struggling to capture their land. The best example is the king of petrol Iraq, which is now completely occupied with allied forces. Average rise in cost of fuel for European countries is 1.5 for diesel. United kingdom and Norway pay one of the highest diesel price in the world.
So here are the top 10 lucky countries with cheapest diesel in the world:
10) Sudan:
Officially called as Republic of Sudan and often called as North Sudan is an Arab state situated in North Africa. The high price diesel crisis were released overnight in the virtually independent nation. In early June the price was 2.7 Sudan exchange pound(SDG) which has now exceeded to 5.0 SDG. 1 SDG is equal to 12.3 Indian rupees.
9) Oman:
Oman is an Arab state situated in southwest Asia on the coast of Arabian Peninsula is Officially called as Sultanate of Oman. Last reported in 2010 the price of diesel per litre was 0.38 dollar. 1 Dollar is equal to 53.46 Indian rupees. Oman produces about 600,000 barrels making it possible for the government to offer low price.
8) Egypt:
Officially called as Arab Republic of Egypt is a country in North Africa. Egypt has amongst the most diversified and developed economy. The price of diesel, last reported in Egypt was 0.32 US dollar. 4.39% of monthly income is spent on diesel in Egypt. Due to the recent instability, the price of the diesel is very uncertain in future. The price depends on how the new government deal with it.
7)Ecuador:
Ecuador, a representative democratic in South America officially called as the Republic of Ecuador is bordered by Peru on east and south ,Colombia on north, , and by Pacific Ocean on the west. The price of diesel last reported in Ecuador was 0.28 US dollar per litre. Ecuador economy is subjected by petroleum extraction.
6)Yemen:
Officially called as Republic of Yemen is a country in Western Asia, dwelling in southern and southwestern end of Arabian Peninsula. Bodered by Red sea on the west, Oman to the East and Saudi Arabia to the north. Diesel pump price last reported in 2010 was 0.23 US dollar per litre.
5) Algeria:
Officially called as Democratic Republic of Algeria and formally referred as Democratic and Popular Algerian Republic is situated in Maghreb region in Africa. Algerian economy highly depends on natural gas and petroleum exports. It accounts 30% of the GDP. Pump price of diesel last reported in 2010 was 0.19 US Dollar per litre. Percentage monthly income that is spent on petroleum is 6.53% in Algeria. In Algeria 60% of the income is derived from oil production.
4) Libya:
Libya is situated in Maghreb region in North Africa. It is bordered by Egypt on the east, Sudan on the southeast, Mediterranean Sea on the north and Chad and Niger on the south. Price of diesel fuel last reported was 0.13 US Dollar per Litre in 2010. Libya has one amongst the highest GDP in Africa. Monthly income percentage spent on petrol in Libya is around 3.32 percent. 41 billion barrels of oil per year puts Libya on the 9th place in world league in oil producers.
3)Saudi Arabia:
Officially called as kingdom of Saudi Arabia is the biggest Arab state(by land area) situated in Western Asia, consisting of immense Arabian Peninsula and is the second largest in Arab World. Saudi Arabia has oil based economy. Possesses 20% of the world’s petroleum reserves ensuring it to be one among the cheapest countries in the world in terms of diesel. Pump price of diesel, last reported in 2010 was 0.07 US Dollar per liter. 0.98 % of the monthly income is spent on diesel in Saudi Arabia.
2) Iran:
Officially called as Islamic republic of Iran is situated in Western Asia. It is also often called as Persia however in political context Iran is preferred. Pump price of diesel last reported in 2010 was 0.02 US Dollar per litre. It has the sixteenth largest economy. Iran chief source of overseas trade constitutes 60% of Government revenue. 6.53 percent of monthly income is spent on diesel in Iran.
1)Venezuela:
Officially called as Bolivian Republic of Venezuela is a country situated on the northern coast of South America. Price per litre of petrol in Venezuela is 8p thus making Venezuela the cheapest country in world in terms of petrol. Second time in history, Venezuela rushed the world for being the cheapest. The country is facing the tremendous problem of smuggling of petrol. The reason is that the neighbouring country Colombia is paying the price 40 times greater than Venezuela. Another important thing is that the monthly income of the residents is very less compared to the Middle East countries. 2.73% of monthly income is spent on diesel in Venezuela. Pump price of diesel last reported was 0.01 US Dollar per liter.
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