Where can you buy diesel for just 1p a litre?

Updated: 
How does 1p per litre of diesel sound? For Venezuelan motorists it's no fantasy. New research from Looking4Parking.com examined the top ten cheapest countries to fill up, with Venezuela topping the list.

Britain is nowhere near, rising to fourth most pricey (UK derv is currently an average £1.43). For petrolheads, is it time to move to Caracas?

Take a road trip

The average Venezuelan take-home pay is £320 per month, so probably not. Maybe a long road trip instead. But watch your speed. A 2011 survey from the Venezuelan Engineers' Association described 90% of the country's roads as "terrible".

Craters, landslides, super-aggressive drivers. In 2011 a Venezuelan bus driver was suspended for a year for driving passengers at high speed, with a rear wheel missing. Even if the fuel's virtually free, would you want to drive there?

£133 a month

Well, it could be a lot of fun. But last time the Venezuelan Government threatened to push up its heavily subsidised prices, there were national riots. Many died. However the point of this latest cheap fuel survey is to compare the price of fuel against disposable income.

Average UK disposable income after tax is around £1,700 and average monthly diesel UK spend is around £133, or 8%. In contrast, the average Venezuelan motorist spends just 0.3% of their income on fuel - 95p!

As to UK prices, cut out tax and duties and diesel would cost you 60p a litre. The price for unleaded would fall to around 53p. If you own a diesel car averaging 45 miles per gallon overall and you do 10,000 miles a year, that's around £1,444 a year spent on fuel.

Government grab

UK Duty will take £585 of that £1,444 amount, VAT will take around £240; stripped of tax, the actual price of fuel would be around £618 for the year.

Meanwhile earlier this year the Office of Fair Trading decided against pursuing an inquiry into concerns about whether fuel prices in the UK were being manipulated; the OFT went so far as to describe the UK petrol market as "working well".

Top ten countries for cheapest diesel

1. VENEZUELA
Price of diesel per litre: 1p
Average monthly disposable income after tax: £320.01
Average monthly diesel expenditure: £0.95
Percentage of monthly income spent on diesel: 0.3%

2. IRAN
Price of diesel per litre: 2p
Average monthly disposable income after tax: £320.01
Average monthly diesel expenditure: £1.89
Percentage of monthly income spent on diesel: 0.6%

3. SAUDI ARABIA
Price of diesel per litre: 5p
Average monthly disposable income after tax: £1194.88
Average monthly diesel expenditure: £4.74
Percentage of monthly income spent on diesel: 0.4%

4. LIBYA
Price of diesel per litre: 10p
Average monthly disposable income after tax: £380.74
Average monthly diesel expenditure: £9.47
Percentage of monthly income spent on diesel: 2.5%

5. BAHRAIN
Price of diesel per litre: 10p
Average monthly disposable income after tax: £723.65
Average monthly diesel expenditure: £9.47
Percentage of monthly income spent on diesel: 1.3%

6. TURKMENISTAN
Price of diesel per litre: 13p
Average monthly disposable income after tax: £160.05
Average monthly diesel expenditure: £12.31
Percentage of monthly income spent on diesel: 7.7%

7. QATAR
Price of diesel per litre: 15p
Average monthly disposable income after tax: £2601.84
Average monthly diesel expenditure: £14.21
Percentage of monthly income spent on diesel: 0.6%

8. KUWAIT
Price of diesel per litre: 17p
Average monthly disposable income after tax: £1556.15
Average monthly diesel expenditure: £16.10
Percentage of monthly income spent on diesel: 1%

9. YEMEN
Price of diesel per litre: 19p
Average monthly disposable income after tax: £128.04
Average monthly diesel expenditure: £17.99
Percentage of monthly income spent on diesel: 14.1%

10. BRUNEI
Price of diesel per litre: 20p
Average monthly disposable income after tax: £1512.28
Average monthly diesel expenditure: £18.94
Percentage of monthly income spent on diesel: 1.3%