> why would fuel prices be high in a country with large oil and gas reserves? To prevent arbitraging opportunity. If fuel is subsidised for local citizens, the

> why would fuel prices be high in a country with large oil and gas reserves? To prevent arbitraging opportunity. If fuel is subsidised for local citizens, they will start siphoning it out of country to sell overseas and profit off of it. Oil and gas companies would rather do it on their own.