Gasoline prices in the US have broken a historical record, but in other countries, fuel is much more expensive: where refueling a car hits the wallet the most

The cost of a gallon of gasoline in the United States has skyrocketed, but Americans are not the only ones experiencing fuel problems due to the Russian invasion of Ukraine, reports As.

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The Russian invasion has upended commodity prices, especially for those countries that have imposed sanctions. On June 10, the Labor Department released its latest inflation data for May, with the Consumer Price Index (CPI) up a full percentage point in one month.

Can there really be any doubt about what is driving inflation here in the US and around the world right now?

It's Putin. There is no question about this. He's fighting like hell to keep prices high to cause global pain as leverage/blackmail to get more favorable terms. pic.twitter.com/AVQ4kK4VfN

— Simon Rosenberg (@SimonWDC) June 10, 2022

At the forefront of this inflation are energy prices, which have risen nearly 35 percent since May 2021.

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Inflationary pressures and supply chain problems have pushed the cost of many staples up significantly over the past six months, but the recent ban on Russian oil and gas has pushed gasoline prices even higher.

Which countries have the most expensive gasoline?

While people living in the US may think they are bad, and in relative terms they are, countries that have to almost exclusively import their fuel have a much bleaker future. The price of a gallon of fuel in Europe has gone crazy, forcing many countries to adopt drastic policies to keep prices down.

Using Data globalpetrolprices.com, these are the ten countries with the most expensive gallon of fuel as of June 6, 2022:

• Hong Kong $11
• Norway $10,820
• Denmark $10,321
• Finland $10,125
• Iceland $9,548
• Greece $9,538
• Sweden $9,331
• Central African Republic $9,285
• Monaco $9,162
• Netherlands $9,109

Using these data criteria, the US ranks 97th in the world.

Because none of you here seem to get it, no president can control the price of gasoline. We aren't even in the top half of prices worldwide.

This is a global problem. Not a US-specific problem. pic.twitter.com/v5x9HsIjcd

— Bradley P. Moss (@BradMossEsq) June 7, 2022

Europe has been particularly hard hit by rising prices as the continent, with the exception of a few countries, has imposed sanctions on Russia, its main energy partner. For example, the EU imports 40% of its natural gas from Russia. Along with this, 13 of the 27 EU countries import at least 20 percent of their oil from Russia. Cutting yourself off from this market is a major driver of rising energy prices.

Which countries have the cheapest gasoline?

Using the same website, here are the top ten countries with the cheapest gasoline. Data as of June 6, 2022:

• Venezuela $0,084
• Libya $0,119
• Iran $0,202
• Syria $1.082
• Algiers $1,193
• Kuwait $1,297
• Angola $1,416
• Nigeria $1,574
• Turkmenistan $1.621
• Malaysia $1,767

Why is fuel so cheap in these countries? First, they all have huge oil reserves. Along with this, Venezuela, Libya and Iran are experiencing difficulties in exporting their products, either because of the war or because of sanctions imposed by the United States. This means that more fuel is available for public consumption and not exported.

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The crisis in Ukraine also gives oil exporters more opportunities to export their fuel at a higher price abroad while keeping costs low at home.

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