UK ranked seventh most expensive place to buy fuel

Norway is the most expensive place in the world to buy petrol, while the UK is ranked seventh, according to new analysis from Santander.

Petrol prices in Norway currently average 152 pence per litre (ppl), 26% higher than the UK where the price per litre is 121 pence. Turkey (139ppl) and Hong Kong (134ppl) complete the top three.

Although prices are highest in Norway, relative incomes are also higher which means fuel spend accounts for 8% of Norwegians’ average disposable monthly wage, but motorists in Turkey spend nearly two-fifths (39%) of their monthly wage on fuel.

Portugal comes in second place with 25% of monthly wage spent on fuel, followed by Greece in third place at 24%.  By comparison, the Swiss spend just 4% of their disposable income on petrol.

Matt Hall, director of banking at Santander, said: “Although petrol in the UK isn't cheap there are clever ways of helping bring the cost down, such as using the petrol discount vouchers you get when you do a big shop at the major supermarkets, downloading the various apps available to help you find the lowest petrol price nearby, and our 1|2|3 Credit Card gives you 3% cashback up to a monthly spend of £300. That’s as much as £9 a month, which could buy you about seven litres of petrol.”

Pump it up – the pricey petrol league table