As of March 2025, petrol in Hong Kong costs $3.42 per litre, making it the most expensive globally. High taxes, limited land for petrol stations, and a lack of local refining facilities contribute to this steep pricing.
Singapore and Iceland Follow Closely
In September 2025, Singapore recorded petrol prices at $2.84 per litre, while Iceland’s petrol stood at $2.52. Both countries rely heavily on imports due to limited domestic oil production. Iceland’s isolated geography further increases transportation costs.
European Nations with High Fuel Costs
Netherlands ($2.44), Monaco ($2.39), and Denmark ($2.23) reflect Europe’s high taxation on fuel, often aimed at promoting sustainable transportation. Switzerland ($2.15), Liechtenstein ($2.06), and Ireland ($1.96) similarly face elevated costs due to import dependency and heavy fuel taxes.
Middle East Perspective
Israel’s petrol price stands at $2.17 per litre. Domestic unrest, high taxation, and investment in public services and defence contribute to elevated prices, making fuel affordability a challenge despite being an oil-producing region.
Petrol price trends are influenced by multiple factors including currency exchange rates, government policies, and market competition. Countries with limited local oil production and high import dependency typically experience higher fuel costs. For official data on global fuel prices, visit International Energy Agency or OPEC.