The 9% weekly decline in crude oil prices was not felt on the retail fuel markets around the world. During the last week, the world average gasoline and diesel prices both increased reaching 0.98 and 0.87 USD per liter respectively.
On a regional level, the European average gasoline price decreased slightly by 0.4% and it is currently at a level of 1.33 USD per liter. Retail gasoline prices also went down slightly by 0.3% in Canada and by 0.1% in Asia. However, there were many regions around the world where retail gasoline prices increased last week such as South America, the USA, Australia, and Africa.
Looking at individual countries, the gasoline price changes varied from -2% (Sweden) to 4.6% (Malawi). There was an increase in 26 of the 103 reviewed countries, no change in 49 countries, and a decrease in 28 countries.
Retail gasoline prices decreased by more than 1.5% in Sweden, Jamaica, Turkey, and Spain. On the other extreme, gasoline became more expensive by more than 3% in Moldova and Malawi.
In Malawi, the Energy Regulatory Authority (MERA) adjusted upwards the retail fuel prices of gasoline and diesel in the first days of November. The adjustment was caused by an increase in petroleum products import costs and the depreciation of the local currency against the US dollar.
In Tunisia, where consumption is estimated at 86,000 barrels of oil per day (80th in the world according to the specialized website Globalpetrolprices), the country is in the 37th place in terms of price with $ 0.72 for a global average price of 1 USD, according to the same source, as in Morocco, where it is $ 1.02, against $ 0.29 in Algeria, largest oil producer and the fourth lowest price globally.