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Drivers in South Africa spend the highest portions of their paychecks on gasoline

A study of where in the world people spend the highest portions of their paychecks on gasoline, reveals some interesting findings.

Even though Norwegians have the highest gas prices in the world at a whopping $9.26 a gallon, they’re well able to afford it due to their high income levels. In fact, filling up only accounts for 0.66 percent of an annual Norwegian income each year, according to data compiled by Bloomberg

South Africans have to endure the most pain at the pumps, spending over 5 percent of their annual income on gasoline, despite it costing $4.65 per gallon. Cyprus and Mexico rank second and third with 3.6 and 3.4 percent respectively.

What about Americans? They  have to part with 2.27 percent of their annual income to cover gas costs, placing them 12th overall.Things are generally getting better for drivers, however. An oil boom in North America is driving down oil prices, with the cost of gas falling 7.2 percent over the past six months.

Check out the chart here.

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December 15th, 2014



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