The 2023 Global Gas Prices Report [Countries & U.S. State-by-State Breakdown] (2023)

Every year Zutobi has conducted an extensive study of the trends in global gas prices. As the world economy has become more global in nature, we expanded our efforts to examine fuel prices around the world. Fuel prices fluctuate for a wide variety of reasons including supply and demand, geopolitical conflict, natural disasters, and unexpected events such as the recent global pandemic. It’s our goal to provide the most up-to-date information for those getting behind the wheel for the first time this year as well as for seasoned drivers.

We have examined the gas prices in more than 170 countries worldwide to report where drivers will get the greatest fuel value for their money. In addition, we’ll share fascinating historic information regarding the increase and decrease of petrol prices as well as the rate of those fluctuations.

U.S. Fuel Report

Over the past year, the United States has seen only a small increase in fuel prices on average. Last year, the average fuel price per gallon was $3.36 with this figure increasing to only $3.49 per gallon this year. For drivers, the stabilization of prices is a relief as the previous summer saw a whooping 28% increase.

Although the average increase nationwide was only 3.87% , the fluctuations by state experienced different levels of variation.

The states with the cheapest gas

1 – Texas: $3.13 per gallon

Texas jumped up five places over the last year in our rankings and now sits at the top of the list. Previously ranked sixth, Texas offers fuel at $3.13 per gallon, a nickel cheaper than the next closest state. Despite its top ranking, gas prices still went up by 11 cents over the past year.

2 – Arkansas: $3.18 per gallon

Arkansas has held its spot near the top of the list, creeping up just slightly from tying for third place last year to tying for second place this year. This southern state saw a slight increase from $3.02 to $3.18 over the last year in fuel prices.

3 – Mississippi: $3.18 per gallon

Mississippi made the biggest climb out of our top three contenders, going from ninth place in 2022 to tying for second in this year’s report. With an 18 cent increase in fuel prices over the last year, the Hospitality State welcomes visitors with relative low gas prices.

The states with the most expensive gas

1 – Hawaii: $4.92 per gallon

Hawaii climbs two spots from third place last year to top dog this year with an average fuel price of $4.92 per gallon. The Aloha State has seen a 53 cent increase in fuel prices, which is a boost of 12%.

2 – California: $4.64 per gallon

Sliding down one spot, California loses top billing to Hawaii with an average gas price of $4.54. The state actually saw a dime decrease in petrol prices over the last year when the state was charging $4.64 for fuel.

3 – Washington: $4.12 per gallon

The Evergreen State moved up in the rankings this year by two spots. Previously sitting in fifth place, Washington saw a 17 cent increase in fuel prices this year, boosting its petrol costs to $4.12 per gallon on average.

Gas price changes in America

Just like any other consumer product, fuel has fluctuated in price over the years with a steady overall increase throughout the decades. Major historic events such as The Great Depression, various wars, periodic oil gluts, and, most recently, a global pandemic have significant impact on global gas prices.

This year, it appears that petrol prices have finally stabilized after a significant increase during the COVID crisis with some states even experiencing decreasing gas prices.

Let’s look at the states with the smallest and largest increases since the turn of the century.

States with the biggest decrease in gas prices

1 – Montana

2002 Price: $0.89 per gallon

2022 Price: $3.40 per gallon

2023 Price: $3.24 per gallon

2022/2023 decrease: 4.57%

20-year increase: 264.04%

Montana has seen the biggest decrease in gas costs during the last year. In 2022, the price of gas was $3.40 per gallon. This year the price decreased by 4.57%, dropping to a price of $3.24 per gallon. That said, prices in Montana have still increased by nearly 270% over the last two decades.

2 – Connecticut

2002 Price: $0.82 per gallon

2022 Price: $3.51 per gallon

2023 Price: $3.36 per gallon

2022/2023 decrease: 4.41%

20-year increase: 311.64%

Coming in second place, Connecticut has seen a decrease of 4.41% in fuel prices over the last year. Dropping to an affordable $3.36 per gallon from $3.51 last year, the state has experienced a 311.64% increase over the last 20 years.

3 – Oregon

2002 Price: $0.88 per gallon

2022 Price: $3.93 per gallon

2023 Price: $3.77 per gallon

2022/2023 decrease: 3.87%

20-year increase: 329.24%

Although Oregon has experienced a 329.24% increase in fuel prices over the last two decades, the Beaver State saw a 3.87% decrease over the last year. Fuel prices dropped from $3.93 per gallon last year to only $3.77 per gallon this year.

States with the biggest change in gas prices

1 – Colorado

Colorado

2002 Price: $0.87 per gallon

2022 Price: $3.30 per gallon

2023 Price: $3.83 per gallon

2022/2023 increase: 16.07%

20-year increase: 342.15%

The residents of Colorado faced the biggest increase in gas prices. Just in the past year, fuel prices have risen by a substantial 16.07%. Compared with 2002, gasoline is now almost three dollars per gallon more expensive, representing a remarkable 342% increase.

2 – Hawaii

2002 Price: $1.02 per gallon

2022 Price: $4.39 per gallon

2023 Price: $4.92 per gallon

2022/2023 increase: 12.06%

20-year increase: 384.65%

Just like Colorado, Hawaii also saw gas prices increase by 53 cents per gallon this past year, resulting in an average price of $4.92 per gallon. This 12.06% increase in fuel prices put Hawaii in second place for the largest change in gasoline costs.

3 – Ohio

2002 Price: $0.88 per gallon

2022 Price: $3.13 per gallon

2023 Price: $3.48 per gallon

2022/2023 increase: 11.28%

20-year increase: 297.04%

Our third place ranking puts us in the Midwest with Ohio seeing a 11.28% increase in gasoline prices over the last year. Now at $3.48 per gallon, fuel prices for the Buckeye State have experienced an increase of 297.04% over the past two decades.

How far can you travel for $50 in each state?

When the Ford F150 pickup truck was introduced in 1975, no one could have predicted that it would become the most popular vehicle in U.S. history. About 42 million trucks have been sold, which is 6 million more than the next popular vehicle, making it the best-selling car in the country.

As a result, the F150 was selected to be the benchmark for determining the maximum distance a driver can travel on $50 worth of fuel. Although it’s not known for ultimate fuel efficiency, especially compared with the hybrid models on the road today, the truck averages 25 mpg.

In Texas, which boasts the lowest fuel prices in the country, $50 can buy 15.97 gallons of gasoline, allowing you to travel 399.36 miles on average in an F150. On the other hand, Hawaii, the state with the most expensive gasoline prices, will only get you 10.15 gallons with the same amount of money, limiting the F150’s range to 253.51 miles, which is a difference of almost 150 miles from Tennessee.

Global Gas Prices

The countries with the cheapest gas

1 – Venezuela: $0.07 per gallon of petrol

WIth the largest known reserves of crude oil in the world, Venezuela tops the list of the countries with the cheapest fuel. Drivers in the South American nation pay only $0.07 per gallon. The country has retained its number one spot, being one of three countries in the world where fuel is less than a dollar per gallon.

2 – Libya: $0.15 per gallon of petrol

Although Libya’s fuel prices are more than double the cost of the top-ranking country, this nation also enjoys an extremely low petrol price of $0.15 per gallon. With Africa’s oil production expected to rise to more than 7 million barrels per day in 2023, the country can expect stable fuel prices.

3 – Iran: $0.24 per gallon of petrol

Rounding out the top three countries with the lowest fuel prices is Iran, with prices still well under a dollar a gallon. Centrally located near the Middle East and Asia, the country has an average price per gallon of petrol at $0.24, significantly less than the $1.45 per gallon price of the fourth country, Angola.

The countries with the most expensive gas

1 – Hong Kong: $13.40 per gallon of petrol

Hong Kong ranks again at the top of the list with the highest petrol price on earth; one gallon purchased in the special administrative region costs $13.40. More than double the global average, this price is $2.83 more than the second most expensive country.

2 – Norway: $10.57 per gallon of petrol

Moving up to second place from ranking third last year, Norway actually dropped its price from $11.36 to only $10.57 per gallon this year. This Scandinavian country collects a 78% tax from oil and gas companies, driving up the prices for all drivers.

3 – Iceland: $10.31 per gallon of petrol

A newcomer to not only the top three most expensive countries for fuel but to the top 10 list altogether this year. Iceland’s per gallon price reaches $10.31 on average. Like Norway, fuel tax may be one of the key reasons for the high petrol cost.

Gas price changes across the globe

Countries with the biggest decrease in gas price

1 – Iran

2017 Price: $1.68 per gallon of petrol

2023 Price: $0.24 per gallon of petrol

6-year price decrease: 85.68%

Drivers in Iran have experienced a huge drop in fuel prices over the past several years. In 2017, it cost $1.68 per gallon of gas, dropping to less than a quarter a gallon this year.

2 – Angola

2017 Price: $4.32 per gallon of petrol

2023 Price: $1.45 per gallon of petrol

6-year price decrease: 66.53%

Although not as drastic as Iran, Angola has also experienced a whooping decrease in fuel costs in the last six years. With a drop of more than 60%, the country’s price went from $4.32 per gallon in 2017 to only $1.45 per gallon at present.

3 –Turkey

2017 Price: $6.59 per gallon of petrol

2023 Price: $4.93 per gallon of petrol

6-year price decrease: 25.17%

Turkey found its per gallon fuel costs tumbling to $4.93 this year from $6.59 per gallon just six years ago, representing a more than 20% drop.

Countries with the biggest increase in gas price

1 –Saudi Arabia

2017 Price: $1.09 per gallon of petrol

2023 Price: $2.82 per gallon of petrol

6-year price increase: 158.75%

Saudi Arabiafaced the highest gas price increase over the last six years with fuel prices nearly doubling to $2.82 per gallon. Despite the fact that Saudi Arabia is in the top 20 countries with the lowest gas prices, over the past 6 years the increase has been more than 150%.

2 – Mongolia

2017 Price: $2.91 per gallon of petrol

2023 Price: $6.76 per gallon of petrol

6-year price increase: 132.19%

With the Russia-Ukraine conflict coming on the heels of the global pandemic, Mongolia has experienced a nearly 130% increase in fuel prices over the last six years. Today, one gallon of petrol costs $6.76 per gallon, up from only $2.91 per gallon in 2017.

3– Trinidad & Tobago

2017 Price: $2.41 per gallon of petrol

2023 Price: $5.19 per gallon of petrol

6-year price increase: 115.28%

Trinidad & Tobagoexactly doubled its fuel prices in the last six years, going from $2.36 per gallon to $4.72 per gallon. Fuel subsidies may account for a significant part of the nearly 115% increase.

How far can you travel for $50 in every country?

As the best-selling car on the planet, the Toyota Corolla was used as a benchmark to determine how far a driver can travel on $50 in fuel throughout various countries in the world. This vehicle averages 44.8 miles per gallon.

Obviously, the countries with the lowest fuel prices will experience the greatest distance. Drivers in Venezuela can travel 30,795 miles–or theoretically more than once around the entire world–on a mere $50. For drivers in Hong Kong, the country with the most expensive gas, $50 will only get you 167 miles. Considering the global average of petrol prices, a driver can travel 757 miles on $50 worth of fuel in a Toyota Corolla.

Methodology

United States

• Regular unleaded gasoline, which is most popular in the United States, was used in this study.
• Current fuel prices came fromhttps://gasprices.aaa.comand are accurate as of January 1, 2023.
• Historic gas prices for each state were sourced fromhttps://www.eia.gov/petroleum/gasdiesel/.
• The Ford F150 MPG was taken fromhttps://www.fueleconomy.gov/feg/PowerSearch.do?action=noform&path=1&year1=2021&year2=2021&make=Ford&baseModel=F150&srchtyp=ymm
• To calculate the distance drivers can travel on $50, the number of gallons available for $50 was multiplied by the average miles per gallon of the vehicle.

Global

• Again, regular unleaded petrol was chosen as the type of fuel to study as it is the most common.
• All current fuel costs were sourced from global petrol prices, and are accurate as of January 1, 2023.https://www.globalpetrolprices.com/gasoline_prices/
• The same website was used for historic petrol prices. We used thewayback machineto see thearchived petrol pricesfrom February 27, 2017.
• The miles per gallon of the Toyota Corolla was found fromParkers.
• To calculate the distance drivers can travel on $50, the number of gallons available for $50 was multiplied by the average miles per gallon of the vehicle.

Previous Reports

2022 Gas Prices Report

2021 US Gas Prices Report