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Russia ranked 17th in the ranking of European countries in terms of gasoline availability

MOSCOW, January 30 – RIA Novosti. According to the results of an RIA Novosti study, Luxembourg, Ireland and Norway are the leading European countries in terms of gasoline availability, Russia is 17th and Hungary is last.

General dynamics

According to experts, gasoline and diesel prices rose strongly in many European countries in 2022, reaching record levels. Analysts explain that the increase in prices is due to many reasons, including sanctions restrictions on the export of Russian oil products.

Peak indicators were recorded in the middle of the year, after which the tension in the markets began to decrease gradually and prices began to decline. But at the beginning of 2023, fuel prices in many countries were significantly higher than they were a year ago.

Experts emphasize that the availability of gasoline for consumers depends not only on its price, but also on the income of the population.

To assess the availability of fuel in various countries, RIA Novosti experts compiled a rating of the volume of gasoline that European residents can buy with their average monthly wage.

leaders

Luxembourg topped the ranking of affordability of gasoline. Residents of this state can buy more than 2.5 thousand liters with their average salary. Fuel prices in this country are low and salaries are among the highest in Europe.

Ireland took second place, where residents can buy almost 2,000 liters. The top five of the rating also include Norway, England and the Netherlands, whose residents can buy more than 1,800 liters of gasoline.

Russia ranks 17th between Spain and Slovenia. For an average monthly salary, residents of the Russian Federation can buy about 1059 liters of 95th gasoline.

Hungary took the last place. Citizens of this country can buy only 455 liters of fuel, which is five times less than in Luxembourg and two times less than in Russia. Also at the bottom of the ranking are Romania, Latvia, Belarus and Slovakia. Its citizens can purchase a maximum of 600 liters.

price rise

The cheapest gasoline, according to experts, is in Kazakhstan, where the price of a liter of the 95th liter is 31.3 rubles. Russia is in second place (51.3 rubles per liter). According to Rosstat, the price of gasoline in the Russian Federation has not changed much compared to the beginning of last year. In third place in terms of cheapness of gasoline is Belarus, where it costs about 64 Russian rubles per liter.

The most expensive gasoline is in Norway in Russian currency – 145 rubles per liter. This is followed by Denmark, Finland, Greece and France, where a liter of gasoline will cost more than 135 rubles.

Experts emphasize that gasoline prices have increased in almost all countries participating in the rating – in 25 out of 31 countries. The most significant increases in prices were observed in Hungary (+37.8%), Norway (+19.2%) and Belarus (+17.1%). In total, growth was over 10% in nine countries.

Experts say high taxes on fuel are the main reason for the cost, which prevails in most countries where gasoline is expensive.

Price reductions are observed in six countries. The most important are the Netherlands (-8.9%), Ireland (-7.4%) and Croatia (-6.6%).

According to research, the cheapest diesel is sold in Russia (58.7 rubles per liter). Analysts note low prices of diesel fuel in Belarus and Kazakhstan (less than 90 rubles).

The most expensive diesel fuel is in Sweden (155.4 rubles). In Norway and Finland, a liter of diesel fuel costs more than 150 rubles.

The cost of diesel fuel increased in all countries participating in the ranking.

guess

According to analysts, it is difficult to predict the change in gasoline price in 2023 due to many uncertainties. Important factors are the EU embargo on imports of Russian petroleum products as of February 5 and the ceiling price for these products by the G7 countries.

“How ceiling prices will work remains unclear, but this is likely to lead to a temporary shortage of petroleum products in the European market and a new rise in prices,” the study’s explanatory note states.

Experts from RIA Novosti believe that in 2023 the average price of gasoline in Europe will not be lower than in 2022. Experts therefore conclude that its existence will largely be determined by the income dynamics of the population whose growth is not guaranteed due to ongoing macroeconomic problems.

While compiling the rating, we used statistical data on 95 octane gasoline prices from European countries as of the beginning of 2023. For Kazakhstan – end of December 2022, for Norway – end of November 2022. Price changes are calculated over the national currencies of the countries.

Source: Ria

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