Skip to main content

Where Canada stands among nations paying the highest gas prices

Canadians are spending the highest proportion of their income on gas compared with other G7 nations, according to the global gas price tracking website

Their data shows that Canadians are spending 4.4 per cent of their income on gas, notably higher than second-place Americans who are spending 3 per cent. Other G7 nations such as Japan and U.K. spend half as much. The lowest proportion of income spent on gas is by those living in France (0.7 per cent).


When looking at cost of gas per litre, countries facing high inflation seem to be paying more for gas—U.S. being an exception.

Rising gas prices have been driving up inflation in most countries.

Among G7 countries, the U.K. faces the highest inflation at 9.4 per cent and is paying $2.88 per litre for gas. The country also ranks 10th among all the 168 countries with the most expensive gas. This is much above the global average gas price of $1.8 per litre and ranks at the top, followed by Italy ($2.48) and France ($2.38), among the G7 nations.

While Canada ranks near the bottom of G7 countries,  the U.S. is paying the least, $1.52 for a litre.

Where you'll find the most expensive gas around the world

While richer countries such as the U.K. and Canada are paying higher prices, according to the data, poorer nations, oil producers, and exporters such as Iraq and Saudi Arabia get gas at significantly lower prices.

At $2 per litre, Canada’s gas prices are above average when compared to the rest of the world, where the average price is around $1.8 per litre. ranks global gas prices across 168 countries and Canada ranks 68th on the list.

In June this year, the monthly average retail gasoline prices saw a sharp increase of more than 50 per cent since 2021.

But there are many nations ahead of Canada when it comes to expensive gas.

While the average price of gas on mainland China is $1.76 per litre, in Hong Kong the price of gas soars to $3.83, which is the most expensive in the world.

Iceland has the second most expensive gas, with prices touching $3.18 per litre, and 37 per cent more than what a person in Canada would pay.

With $1.50 per litre, the U.S. ranks 118th on the list, followed by Indonesia and Mexico (both at $1.5 per litre).



OPINION 6 ways to prepare your finances for a potential recession

Despite Canada's economic resilience in the face of rising interest rates, it's still important to be prepared in case a recession hits. In a column for, personal finance contributor Christopher Liew shares some practical tips and actionable advice to better weather any economic storm.


OPINION Financial tips for newcomers to Canada, from an expert

For those who have recently immigrated to Canada, it's important to learn the basics of how the country's financial system works. Personal finance contributor Christopher Liew shares some financial tips around how to open a bank account, build your credit and file your taxes as a newcomer. Top Stories


LIVE UPDATES Polls now closed for Election Day in Manitoba

Polls are closed and results will be coming in shortly in what will be a historic election for the province. The Progressive Conservatives' Heather Stefanson is looking to become the first woman elected premier, while the NDP's Wab Kinew is looking to become the province's first First Nation premier. Follow along for live updates on candidates, voting information and results.

Stay Connected