- The Kuwaiti model is characterized by systematic stability in fuel pricing policy

- Libya is at the forefront of the cheapest countries globally and Hong Kong is the most expensive. Yahoo Finance stated that Kuwait maintains its position among the countries with the lowest gasoline prices globally, thanks to a government policy based on stabilizing fuel prices and not leaving them to market fluctuations.

The website added that converting these prices to dollars shows that the price of a liter of premium gasoline in Kuwait is about a quarter of a dollar, a figure confirmed by data from global tracking platforms that place Kuwait near the bottom of the international fuel price list.

The website explained that the Kuwaiti model is characterized by systematic stability in its fuel pricing policy, as gasoline prices have remained stable for years, with a historical average hovering around $0.26 per liter. The lowest recorded price was in 1998, when it reached $0.17 per liter.

It noted that the Kuwaiti government maintains fuel availability at low and stable prices, primarily funding this policy from the country's oil export revenues.

Yahoo Finance reviewed eight countries where drivers pay minimal amounts at gas stations, compared to five countries where filling a full tank is expensive. The

website

highlighted that Libya tops the list of countries with the cheapest gasoline prices globally. However, the factors determining fuel prices vary from country to country, as price differences are not necessarily related to the cost of extracting crude oil, but rather are influenced by government decisions and policies after the oil reaches local markets.

Yahoo Finance explained that Venezuela has one of the world's most extreme fuel price drops, primarily due to its vast oil reserves.

It added that Venezuela, which possesses the world's largest proven crude oil reserves, ranks among the three cheapest countries for fuel, with drivers paying around $0.16 per gallon.