Canadians spend the highest share of their income on gas compared to other G7 countries, according to global gas price tracking website GlobalPetrolPrices.com.
Their data shows that Canadians spend 4.4 percent of their income on gas, significantly more than Americans in second place, who spend 3 percent. Other G7 countries such as Japan and the UK spend half as much. Those living in France have the lowest share of income spent on gas (0.7 percent).
When looking at the price of gas per liter, countries facing high inflation seem to pay more for gas – the US is an exception.
Rising gas prices are fueling inflation in most countries.
Among the G7 countries, the United Kingdom faces the highest inflation at 9.4 percent and pays $2.88 per liter for gas. The country is also in 10th place among all 168 countries with the most expensive gas. This is well above the global average gas price of $1.8 a liter and ranks top, followed by Italy ($2.48) and France ($2.38) among the G7 countries.
While Canada ranks near the bottom of the G7 countries, the US pays the least, at $1.52 a litre.
Where you will find the most expensive gas in the world
While wealthier countries such as the UK and Canada pay higher prices, the data show that poorer nations, oil producers and exporters such as Iraq and Saudi Arabia, receive gas at significantly lower prices.
At $2 a liter, gas prices in Canada are above average compared to the rest of the world, where the average price is around $1.8 a litre.
GlobalPetrolPrices.com ranks global gas prices in 168 countries, with Canada ranked 68th on the list.
In June of this year, average monthly retail gasoline prices saw a sharp increase of more than 50 percent from 2021.
But there are many nations ahead of Canada when it comes to expensive gas.
While the average price of gas in mainland China is $1.76 per liter, in Hong Kong the price of gas jumps to $3.83, the most expensive in the world.
Iceland has the second most expensive gas, with prices reaching $3.18 per liter and 37% more than what a person would pay in Canada.
At $1.50 a liter, the US ranks 118th on the list, followed by Indonesia and Mexico (both at $1.50 a litre).
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