Hong Kong Has the World's Most Expensive Fuel Prices

Oil-based fuel (BBM) is one of the world's primary necessities. BBM is the raw material that drives transportation, enabling a country's economic activities to function properly.

The price of BBM is determined by several factors, one of which is the global price of oil. A number of countries have very high BBM prices because they do not implement subsidies.

Based on data from Numbeo, here is a list of the 10 countries with the highest BBM prices per liter in the world in 2021:

1. Hong Kong (US$ 2.34/liter or Rp 33,509/liter (exchange rate Rp 14,320/US$))
2. Palestine (US$ 1.94/liter or Rp 27,781/liter)
3. Netherlands (US$ 1.93/liter or Rp 27,638/liter)
4. Israel (US$ 1.91/liter or Rp 27,351/liter)
5. Greece (US$ 1.85/liter or Rp 26,492/liter)
6. Norway (US$ 1.83/liter or Rp 26,206/liter)
7. Finland (US$ 1.81/liter or Rp 25,919/liter)
8. Portugal (US$ 1.79/liter or Rp 25,633/liter)
9. Italy (US$ 1.77/liter or Rp 25,346/liter)
10. Sweden (US$ 1.76/liter or Rp 25,203/liter)

Meanwhile, Indonesia ranked 92nd globally with a BBM price of US$ 0.61/liter or the equivalent of Rp 8,735/liter. The United Arab Emirates is below Indonesia with a gasoline price of US$ 0.6/liter or Rp 8,735/liter.

The cheapest gasoline in the world is found in Libya, at US$ 0.1/liter or Rp 1,432/liter. Libya is known as a country with the largest oil reserves in the world. Libyan oil production reached 1 million barrels in 2020.