Subsidy Removal: Comparison of Gasoline Pump Price

Subsidy removal is the latest front burner of public discourse in Nigeria today and there is no shortage of facts to back either argument. Too bad many of these arguments ain’t backed by reality.

I have mashed data from World Bank and CIA Fact book about the average price of a liter of gasoline across different countries which you can download here. The exchange rate used at the time of computation at the World Bank was N147 to a Dollar.

The table below shows the prices at the 18 cheapest locations too bad I can’t just drive there for a fill up:

Country Name $ 2010 NGN 2010 Output bbl/day 
Venezuela 0.02 3.40 2,375,000
Iran 0.10 14.33 4,252,000
Saudi Arabia 0.16 23.64 10,520,000
Libya 0.17 25.11 1,789,000
Qatar 0.19 28.07 1,437,000
Bahrain 0.21 31.02 46,430
Turkmenistan 0.22 32.50 202,400
Kuwait 0.23 33.98 2,450,000
Oman 0.31 45.80 867,900
Algeria 0.32 47.27 2,078,000
Yemen 0.35 51.70 258,800
Brunei 0.39 57.61 159,400
Nigeria 0.44 65.00 2,458,000
United Arab Emirates 0.47 69.43 2,813,000
Egypt 0.48 70.91 662,600
Ecuador 0.53 78.30 485,600
Malaysia 0.59 87.16 664,800
Sudan 0.62 91.59 514,300

Comments 3

  1. TD wrote:

    Note: This was an old post but seems pretty relevant today.

    Posted 10 Jan 2012 at 6:03 am
  2. speathzespits wrote:

    Hello! Just want to say thank you for this interesting article! =) Peace, Joy.

    Posted 28 Jan 2012 at 1:26 am
  3. Vieseeseirl wrote:

    I respect your piece of work, thanks for all the informative blog posts.

    Posted 01 Feb 2012 at 1:42 am

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