Israel ranks eleventh in the Bloomberg Gas Price Ranking, with fuel in the country costing $8.28 per gallon (3.9 liters). Israel is just below Turkey and Finland in the ranking, and above Hong Kong and Britain. Norway tops the rankings, with fuel in the country costing $9.79 per gallon. The US is in 51st place, with fuel there costing an average of $3.69 per gallon in the various states. With fuel costing just $0.04 per gallon, Venezuela is very much the cheapest among the 63 countries surveyed.

In addition, Bloomberg ranks countries according to "pain at the pump", that is, the percentage of average daily income required to buy a gallon of fuel. On this ranking, Israel is 35th. Bloomberg calculates average daily income in the country at $104, of which 8% is required to buy one gallon of fuel.

The Bloomberg survey covers the period March 31-April 29.

Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2014

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