Gasoline price per liter in selected countries - June 2020

In June 2020, the gasoline price per liter in the United States stood at 0.55 U.S. dollars, the cheapest among the selected eight countries. However, this is a considerable price change compared to June 2019, when figures were 23.4 percent higher. Italy recorded the highest fuel price of all countries listed here, at 1.56 U.S. dollars per liter. The prices concern unleaded premium (95 RON) for France, Germany, Italy, Spain, and the United Kingdom and regular unleaded for Canada, Japan, and the United States (AKI 87).

Liquid fuels demand decline following coronavirus

Final gasoline prices result from crude oil charges, processing and distribution costs, and taxes and underly supply and demand. The ongoing coronavirus pandemic (COVID-19) has reduced the demand for fuel and in turn impacted petroleum prices worldwide. The U.S. liquid fuels demand in the road sector is expected to have decreased to 8.7 million barrels per day in the second quarter of 2020. As a result, U.S. monthly crude oil production dropped across all regions between March and August 2020.

Diesel prices worldwide

Italy also has the greatest tag on diesel prices among the above listed countries. As of that same month, the price for automotive diesel stood at 1.43 U.S. dollars per liter in the Southern European country. Diesel prices tend to be lower than gasoline prices, with the United Kingdom and the U.S. proving to be the exception.