Cost of Fuel Purchases for Individuals from Russia, Norway, and America Based on Their Personal Incomes
Checkin' Out That Gas: A Factory Worker's Mileage in Gas Across Russia, Norway, and the USA
When it comes to oil-rich nations, the cost of gas can range from practically free to a luxury. Let's compare the affordability of gasoline for the average factory worker in Russia, Norway, and the United States.
Gather 'Round for Some Russian Nuggets
In November 2024, a typical factory worker in Russia takes home around 88,163 rubles. While this is a substantial increase from 44,000 rubles in 2019, the wage hike is a response to a smaller workforce. Unlike the abundance of petroleum in the country, young workers aren't flocking to the assembly lines. With higher wages, the hope is to lure more workers and boost other industries. Gas costs 60.45 rubles per liter, making it less pricey than in Europe but not as cheap as in countries like Turkmenistan or Algeria. So, with an average wage, a Russian worker can gas up their ride and cruise around for 1,459 liters.
Now, Let's Take a Scandinavian Spin
Norway's economic landscape is quite different, prioritizing the welfare of the people. In the final quarter of 2024, workers in the manufacturing industry raked in 58,510 kroner, or about 479,798 rubles. Gas, however, is a bit on the pricey side—21.11 kroner per liter (173.11 rubles). The high wage and fairly priced food are a boon for their purchasing power, but that doesn't help much when it comes to gassing up. With that salary, a Norwegian can buy 2,772 liters of gasoline—a nice, long drive.
Alright, Yanks, It's Your Turn
America's gas prices fluctuate more than Ross and Rachel's "Can we be friends?" situations. In December 2024, a factory worker made $28.33 per hour, earning about 408,000 rubles a month. With that salary, a worker can buy 5,037 liters of gas—a pretty decent road trip! Despite the price volatility, gas consumption is relatively affordable for American workers compared to their income.
Spinning the Spin
To sum it up, our wages are on the rise, but that doesn't mean we're stocking up on endless Litres of gas. The goal should be to close the gap with the purchasing power of Norwegians and Americans.
Enriching Your Knowledge (for those who enjoy some extra details)- In Moscow, the national minimum wage as of January 2025 was RUB 32,916 per month.- Norway's average salary was approximately €5,027 a month (around NOK 52,000).- Gas prices in the United States varied by state but were typically around $3.50 to $4.50 per gallon (about $1.15 to $1.50 per liter).- When taking into account gas prices and salaries, Norwegian workers faced about a 21.6% monthly expense for 500 liters of gas, while American workers faced a more manageable 12.5% and Russian workers faced considerable challenges, with 100% of the monthly wage needed to buy 500 liters of gas.
- Despite generally higher wages, Norwegian workers have a more challenging time affording gas compared to American workers, due to gas prices being slightly higher in Norway.
- Energy-rich Russia offers relatively cheaper gas prices for the average factory worker, but the high cost of living may offset this advantage when compared to the purchasing power of Norwegian and American workers.
- In the oil-and-gas industry, wealth-management strategies for personal-finance are crucial in countries like the United States, where gas prices fluctuate significantly.
- The business landscape, including the finance industry, must consider the affordability of essential commodities like gas when designing policies that aim to attract and retain workers in industries across the globe.
