The International Monetary Fund calculated that fossil fuel subsidies reached $1.5 trillion under a narrow definition and $7 trillion when including negative externalities like air pollution and climate change.
Total global subsidies equaled 6.8% of global GDP in 2020, which experts project will rise to 7.4% by 2025 if current trends continue.
China spent $2,203 billion on total fossil fuel subsidies in 2020, followed by the United States with $662 billion and Russia with $522 billion.
Wealthy people receive most absolute benefits from fossil fuel subsidies because poorer citizens do not usually own cars so they miss out on direct savings.
Iran became the world's largest subsidizer of energy prices under President Rouhani with over 15 percent of its GDP going to subsidies in 2019.