Finding the world’s cheapest petrol might be challenging because gas prices differ from nation to nation. Government regulations, supply and demand, the price of crude oil, and taxes are only a few of the variables that affect the price of gasoline. Gas is extensively subsidized by the government in some nations while being heavily taxed in others. Nevertheless, a recent analysis by GlobalPetrolPrices.com found that Venezuela had the cheapest gas in the entire world.
Gas prices in Venezuela are extraordinarily cheap because of extensive government subsidies. The nation possesses the greatest oil reserves in the world, and in order to advance social welfare, the government massively subsidizes gas prices. The report estimates that Venezuela has the cheapest gas prices in the world, at only approximately $0.02 per liter.
Chevron is a well-known oil and gas business with a presence all over the world. The business has operations in more than 180 nations and has a sizable number of gas stations. Chevron owns and manages over 8,000 gas stations in the US. The company does, however, also operate franchise gas stations that are run by independent business owners.
Entrepreneurs are able to run independent gas stations under the Chevron name thanks to the company’s franchising scheme. Franchisees receive training, support, and marketing help from the company. Franchisees receive reduced gas from Chevron in exchange for paying a fee to the corporation.
Another significant oil and gas business, BP, runs a franchise scheme as well. Owners of BP franchises often earn between $80,000 and $100,000 annually. Franchisees receive operational support, marketing assistance, and training from the company. To assist franchisees in launching their businesses, BP also provides financial solutions.
Institutional and private stockholders together own BP. The Capital Group Companies, Inc., which holds around 6% of the company’s shares, is the largest stakeholder. BlackRock, Inc., Norges Bank Investment Management, and Vanguard Group, Inc. are a few additional significant owners.
Due to extensive government subsidies, Venezuela has the cheapest gas in the entire globe. Worldwide, Chevron owns a sizable number of gas stations, including roughly 8,000 in the US. Additionally, the corporation offers a franchise scheme that enables independent entrepreneurs to run gas stations with the Chevron name. Franchise owners often earn between $80,000 and $100,000 annually under the BP franchise scheme. A mixture of institutional and private stockholders possess shares in the company.
Esso is a global brand with a presence in several nations, thus franchise locations are conceivable. However, it is impossible to say with certainty whether Esso as a whole is a franchise or not without additional detailed information.