Price of gasoline rises in Russia to surpass the U.S.

Russians are spending a bigger share of their income on fuel than Americans. Photo: Traffic congestion on Kremlyovskaya Embankment in Moscow.

Russians are spending a bigger share of their income on fuel than Americans. Photo: Traffic congestion on Kremlyovskaya Embankment in Moscow.

Evgeny Biyatov/RIA Novosti
Despite tiny difference, oil eats bigger share of income in Russia.

The average price of a gallon of fuel in the U.S. is lower than in Russia, reports Bloomberg. The gap, amounting only to $0.01, places Russia just behind America in the global price rankings.

Bloomberg says the U.S. is 10th, with Russia offering the 11th cheapest gas prices. The cost of gas in the U.S. and Russia, 2.57 and 2.58 per gallon respectively, fall behind the world-average of $4.59 per gallon.

The gap between the two counties is so negligible, however, that the difference disappears if the price is measured per liter. Nevertheless, Russians are spending a bigger share of their income on fuel than Americans. While an average person spends 1.82 percent of his yearly income on filling up his car, an average Russian forks out 2.07 percent.

All numbers are representative of the first quarter of 2017.

Read more: Russia’s largest oil company to sell 1/3 of gas stations in country>>>

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