Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.
Statement of the factions: Emphasis on the unity of the Palestinian political system and the independent national decision.
Statement: Approval to establish an international committee to oversee the financing and implementation of the reconstruction of the Gaza Strip.
Statement: The committee is responsible for managing life and services in cooperation with Arab brothers and international institutions, based on transparency and accountability.
Resistance factions' statement: Agreement to hand over the administration of the Gaza Strip to a temporary Palestinian committee of independent technocrats.
Al Mayadeen's correspondent: Two people martyred in the Israeli airstrike that targeted a vehicle in Toul.

The world's highest gas prices by country, Hong Kong tops list

  • By Al Mayadeen English
  • Source: Agencies
  • 4 Dec 2022 14:01
3 Min Read

Iceland, Norway, and Denmark are struggling with the highest cost in Europe, which has seen inflation hit 10% back in September. 

  • x
  • Energy protests in the UK (UK News)
    Energy protests in the UK (UK News)

Data from GlobalPetrolPrices.com show the different oil prices around the world, in various countries. 

Hong Kong pays the highest in the world - $11.10 per gallon - with both high gas taxes and land costs representing the main factors behind the increase in prices. It is then followed by the Central African Republic at $8.60 per gallon, as a net importer of gasoline. 

Iceland, Norway, and Denmark struggle with the highest cost in Europe, which has seen inflation hit 10% back in September. 

On Friday, the G7 nations and Australia issued a statement saying that had come to an agreement on the maximum price cap of Russian crude oil: $60 per barrel, a decision which will come into effect on December 5 according to the joint statement. A price cap developed by the US-led international coalition will be implemented on February 5, 2023. 

Gas is not the only matter skyrocketing in pricing: household electricity prices show as being the highest in Europe, where Denmark, Germany, and Belgium are double that of France and Greece, while other EU countries are more than twice or three times the global average of $0.14 per kilowatt-hour.

Related News

US to lift trade restrictions on China following new bilateral deal

World Bank: Global growth to slow sharply, worst since 2008

Electricity prices in the EU jumped 32% when compared to prices of last year. As for the US, it was a recorded jump of 16% as opposed to September last year - the highest in over 40 years.

Ironically, as a result of global warming, natural gas demand dropped in the EU by 22% in October compared to last year. When it comes to natural gas, Brazil has the fourth highest prices, despite the fact that it generates half of the supply domestically. 

Read more: Russian official: Price cap on Russian oil will explode global prices

As for the region of Asia, Singapore has the highest natural gas prices with the majority of the share imported via tankers or pipelines. The EIA shows that European natural gas storage could plunge to 20% by February if demand rises and Russia shuts off supply completely. 

This comes after it was announced that by December, all seaborne crude oil from Russia to Europe will shut down. With no sure alternative, in that case, higher demand would drive an increase in the global competition for fuel.

However, the World Bank projects energy prices will decline 11% in 2023 after the world witnessed a 60% rise this year.

Read next: EC to propose automatic mechanism to regulate gas price hikes

  • Global economy
  • Hong Kong
  • Russia
  • energy
  • Oil
  • Gas prices
  • Ukraine

Most Read

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Flags of Iran, Russia, and China (IRNA)
Politics

Russia, China, Iran send joint letter to IAEA on Resolution 2231 end

Rubio says UNRWA to play no role in Gaza aid deliveries
Politics

Rubio says UNRWA to play no role in Gaza aid deliveries

Tents are seen at UN school used as a shelter for displaced Palestinians in Khan Younis, Tuesday, September 30, 2025. (AP Photo/Jehad Alshrafi)
Politics

UN warns of 'lost generation' amid Gaza education crisis

x
Politics

White House pushes to repeal US sanctions on Syria: Report

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS