5 Countries with the Cheapest Fuel Prices in the World, Only 64 Rupiah!

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Erome - Those of you who use Pertalite fuel, get ready that soon you will no longer be able to enjoy gasoline at the cheapest  price .

PT Pertamina will phase out Pertalite starting next year.

Pertalite will be replaced by Pertamax Green 92 which is considered more environmentally friendly. Pertamax Green 92 is a mixture of Pertalite and 7 percent ethanol .

Pertamina itself has not released the official price for Pertamax Green 92. However, the new fuel product from Pertamina, namely Pertamax Green 95, is already displayed at Pertamina gas stations, one of which is on Jalan MT Haryono, Jakarta.

The price of Pertamax Green 95 is IDR 13,500 per liter. The price of Pertamax Green 92 is said to be below its sibling Pertamax Green 95.

Meanwhile, the price of Pertalite has currently been sold at IDR 10,000 per liter. So if Pertamina sells the price of Pertamax Green 92 above the price of Pertalite, it is certain that it will have a wide impact. Such as increases in public transportation costs and prices of goods.

The high price of fuel in Indonesia cannot be separated from world oil prices because most of Indonesia's oil comes from imports. 

The government must subsidize two types of fuel, Pertalite and Diesel so as not to burden the community.

Member of the Indonesian House of Representatives, Fadli Zon, once quipped about the high price of fuel in the country and compared it with the price of gasoline in Algeria, which is only IDR 3,000 per liter.

List of Countries with the Cheapest Fuel Prices in the World

Algeria sells very cheap petrol prices. But actually Algeria's fuel is not the lowest.

The following are the countries with the cheapest fuel prices as of August 28 2023, quoted from GlobalPetrolPrices.com:

1. Venezuela - Rp. 63.34

The world's lowest fuel is sold in Venezuela. This Latin American country is indeed the owner of the largest oil reserves in the world. Its oil reserves are 303.81 billion barrels.

However, Venezuela's oil production level in 2021 will only reach 654 thousand bpd, below Indonesia's production level of 692 thousand bpd.

The economic crisis, corruption and sanctions from the United States prevent the Venezuelan government from optimizing its enormous oil wealth.

As of August 28 2023, the price of gasoline with an octane rating of 95 (RON 95) is sold for only IDR 63.34 per liter, aka less than IDR 100. Amazingly cheap huh!

This price has fallen very much compared to January 2023. At that time, 95 octane fuel was sold for IDR 238.15 per liter.

2. Iran - IDR 434.84 per lite

Iran is the country that sells the second cheapest gasoline in the world. 

This 'hot' Middle Eastern country does have quite abundant oil resources.

Iran holds crude oil reserves of 157.8 billion barrels and produced 3.62 million bpd in 2021, the 8th largest in the world.

Even though its oil reserves are abundant, Iran is consistently one of the countries that offers the cheapest fuel prices in the world.

As of August 28, 2023, the price of 95 RON petrol in Iran is selling for IDR 434.84 per liter. This price has fallen by almost half compared to January 2023 at IDR 802.69/liter.

This decrease in gasoline prices caused Iran to rank second in the country with the cheapest fuel prices in the world. 

Previously, Iran was in third place behind Libya.

3. Libya - IDR 471.82 per liter

Libya is the third country with the cheapest oil prices in the world. 

This is not surprising because Libya is an oil-rich country in Africa.

The abundance of these commodities has even triggered armed conflicts for years.

As of 28 August 2023, the price of RON 95 petrol in Libya is only IDR 471.82 per liter. 

The current price is down slightly compared to January 2023, namely IDR 434.84 per liter.

4. Algeria - IDR 5,109 per liter

This country in North Africa is in fourth place as the country with the lowest petrol prices in the world.

Algeria is one of the oil-rich countries in Africa.

 Algeria's crude oil production will be 955,000 barrels per day in July 2023. 

This record is an increase compared to the previous month, namely 954,000 barrels per day.

As of August 28 2023, Algeria sells fuel for IDR 5,109 per liter. 

This price has increased slightly compared to January 2023, namely IDR 5,090 per liter.

5. Kuwait - IDR 8,758 per liter

The fifth ranked country that sells the cheapest fuel prices in the world is Kuwait.

Kuwait does have around 101.5 billion barrels of proven oil reserves.

This small country located on the coast of the Persian Gulf, Middle East, produced 2.74 million bpd of oil in 2021 and exported around 1.7 million bpd.

Through the state company Kuwait Petroleum Corporation, Kuwait plans to increase oil production capacity by 4 million barrels per day by 2030.

Meanwhile, the price of petrol as of August 28 2023 is IDR 8,758 per liter.

Meanwhile, Indonesia is in 27th place in the country, while Malaysia is in ninth place with a petrol price of IDR 6,707 per liter.



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