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Bloomberg: Israel ranked fifth most expensive country for gasoline prices

In addition, the country's average daily income and the percentage of daily income needed to purchase one gallon of premium petrol
14.06.15 / 10:24
Bloomberg: Israel ranked fifth most expensive country for gasoline prices
14.06.15
Bloomberg: Israel ranked fifth most expensive country for gasoline prices

Bloomberg recently published its Gas Price Ranking. Over 60 countries were surveyed, not only on the price for a gallon (3.78-litres) of premium petrol, but also the country's average daily income and the percentage of daily income needed to purchase one gallon of premium petrol.

 

Israel has the fifth highest price in the world for gasoline and the situation is unlikely to improve in the near future, according to a new Bloomberg survey.

 

Israelis are paying out heavy sums at the pump US$1.53 per liter (US$5.79 per gallon) despite the fact that world oil prices have dropped to US$66 per barrel since April 2012. According to the study, Norway tops the "Bloomberg Ranking", followed by Turkey, Hong Kong, and the Netherlands. Italy is tied with Israel for fifth place, and Denmark, Britain, Portugal, Belgium, Finland, and Greece round out the top 10 nations with the most expensive gasoline.

 

The study also showed that Israel is ranked fourth internationally in terms of how much of consumers' monthly salary is funneled into paying for gasoline: An Israeli car owner spends an average of 900 shekels (US$233) a month at the gas pump, an amount equal to 11% of the average monthly salary. Turks spend the largest part of their earnings on gasoline, with an average of 39% of their monthly salaries going into their cars' gas tanks. In both Greece and Portugal, drivers spend 25% of their salaries on gasoline, followed by Italy (15%).

 

Italian drivers, like Israelis, spend 11% of their salaries on buying gas, and the Dutch fork over 10% to keep their cars moving. According to the study, the gasoline tax in Israel, 60% of the pump price, is within the accepted range for Europe.

 

In Turkey, tax on gasoline comprises 64.5% of the final price at the pump, while in Britain taxes are higher -- 65.7% of the final gasoline price. In both Israel and Europe, drivers pay a gasoline tax that is three to four times as high as what Americans pay.

 

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