How Affordable is Gas in Latin America?
As gas prices have risen around the world, not each region and country is impacted equally.
Globally, the average price for a liter of gas was $1.44 USD on June 13, 2022.
But the actual price at the pump, and how affordable that price is for residents, varies greatly from country to country. This is especially true in Latin America, a region widely regarded as one of the world’s most unequal regions in terms of its income and resource distribution.
Using monthly data from GlobalPetrolPrices.com as of May 2022, this graphic by Latinometrics compares gas affordability in different countries across Latin America.
Gas Affordability in 19 Different Latin American Countries
To measure gas affordability, Latinometrics took the price of a liter of gas in 19 different Latin American countries and territories, and divided those figures by each country’s average daily income, using salary data from Statista.
Out of the 19 regions included in the dataset, Venezuela has the most affordable gas on the list. In Venezuela, a liter of gas is equivalent to roughly 1.3% of the country’s average daily income.
| Country | Gas price as of May 2022 (USD) | % of average daily income |
|---|---|---|
 Nicaragua | $1.37 | 14.0% |
 Dominican Republic | $1.41 | 12.6% |
 Brazil | $1.43 | 12.5% |
 Paraguay | $1.39 | 12.2% |
 Peru | $1.53 | 10.2% |
 Uruguay | $1.92 | 9.8% |
 El Salvador | $1.14 | 9.2% |
 Honduras | $1.33 | 8.6% |
 Mexico | $1.17 | 7.8% |
 Guatemala | $1.44 | 7.7% |
 Argentina | $1.06 | 6.7% |
 Chile | $1.37 | 6.6% |
 (Read more...) |