Owning a vehicle often leads to unexpected expenses, with fuel costs being a significant factor to consider. According to a recent analysis conducted by Britain’s Xcite Car Leasing using data from GlobalPetrolPrices.com, drivers in the United States enjoy the lowest fuel costs worldwide compared to other nations.
When comparing the United States to the United Kingdom and the rest of Europe, it becomes evident that the U.S. stands out as a country with relatively affordable fuel prices. In fact, the U.S., along with Turkey and Bulgaria, ranks among the top three countries with the cheapest fuel globally. The analysis examined the prices of gas, diesel, and electricity in May 2023, while also considering the availability of public electric vehicle chargers.
The top ten countries with the most affordable gas prices include the United States, Turkey, Bulgaria, Romania, Hungary, Spain, Sweden, Austria, Portugal, Poland, Czech Republic, Belgium, and Germany. Despite the slight difference in gas prices between the U.S. and Turkey, with the U.S. averaging at 97 cents per liter ($3.67 a gallon), the U.S. still remains ahead.
Looking ahead, diesel prices are expected to rise significantly over the next two decades in countries like Sweden and Turkey, potentially increasing by up to 80 percent. On a different note, Switzerland is anticipated to have the highest gas prices by 2050, while Turkey and the U.S. are expected to maintain their positions at the lower end of the spectrum in terms of gas prices.
By 2030, Americans are projected to pay an average of £0.89/liter ($3.37/gallon) for gas, maintaining their status as the most affordable option. However, drivers in Denmark and Sweden could see gas prices soar to over £2/liter ($9.60/gallon) within the same timeframe. This data from Xcite serves as an important reference point for understanding the trends in fuel prices across different regions and planning for potential cost adjustments in the future.
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