9. Saudi Arabia- $0.48 per gallon ($0.13 per liter)
OPEC recently announced that Saudi Arabiaâ€™s proven oil reserves were surpassed only by Venezuela. However, the Latin American nation is much less attractive to major oil investors, leaving Saudi Arabia as the worldâ€™s largest exporter of oil â€“ now, and for years to come. There may be problems, however. A cable released by Wikileaks from Riyadh, written in 2008, revealed that senior Saudi officials expressed worry that the countryâ€™s reserves may have been massively overstated â€“ by 40 percent. As tensions rise over Iranâ€™s nuclear program, Saudi Arabia will have to address an additional challenge as well: How long is the country willing to export 9 million barrels of oil per day, up from Januaryâ€™s 7.5 million, to keep global oil prices from rising even higher?
Saudi Arabia spends about $13.3 billion a year to subsidize gasoline and diesel prices, Abdullah Al Shehri, governor of the Electricity and Cogeneration Regulatory Authority, told the Gulf News.