price of petrol India Global crude oil prices are at higher levels for months, despite their decline over time. The country recently got some relief when the central government reduced the price of petrol and diesel in India by Rs 5 and Rs 10 respectively. However, despite this, the price of petrol and diesel in India remained above Rs 100 in many parts. This is because India remains a major country that imports fuel rather than a country that produces fuel. Simple calculations would support that in countries where a product is locally manufactured, its price is lower than in the importing countries. This, along with many other factors, decides the price of the product – in this case the fuel, which varies from country to country.
The recent hike in petrol prices is disappointing for most of the people of the country. The increased fuel rates, which were seen at their highest level till early November, have had major ramifications and came as no relief when the central and various state governments on their part stepped in to reduce taxes.
petrol prices around the world
However, when it comes to the price of petrol in India, it is still not an expensive country. If other factors such as purchasing power are excluded, the actual price to be paid for petrol in other countries is much higher.
People living in Hong Kong pay the highest petrol price in the world. People who use petrol in Hong Kong pay $2.618 or Rs 196.55 (approx) for a liter of petrol. The Netherlands is in second place, with a liter of petrol costing $2.256 or roughly Rs 169.37. Israel has the third most expensive petrol in the world, with a liter costing $2.212, or $166.07. Other countries on this list are Norway, Finland, Central African Republic, Denmark, UK, Greece, Iceland and Sweden.
In contrast, the price of petrol in Venezuela is one of the cheapest in the world. The cost of a liter of petrol in Venezuela is $ 0.025 or Rs 1.88. In second place comes Syria, where a liter of petrol costs $0.060 or Rs 4.50 for a liter. Next comes Angola, which ranks third in terms of the cheapest price of petrol. The cost of a liter of auto fuel in the country is $0.274 or Rs 20.57.
Other places where petrol is cheaper are Angola, Algeria, Kuwait, Nigeria, Turkmenistan, Kazakhstan, Malaysia and Iraq.
what is the status of india
Auto fuel petrol and diesel prices remained stable on Monday, November 29. Petrol price in India remained unchanged for the 26th consecutive day after the central government announced a cut in excise duty at the beginning of the month. Petrol price in the national capital Delhi was cut by Rs 103.97 and remained unchanged on Tuesday. The price of petrol in Mumbai on that day was Rs 109.98 per liter, the highest in the metropolitan city. The price of one liter of petrol in Kolkata on Sunday was Rs 104.67. In Chennai, the price of petrol in a day was Rs 101.40 per liter.
Like other countries of the world, petrol prices in India are subject to various taxes and duties, and are an important source of revenue for the central and state governments. Rupee dollar exchange rate has an effect on prices as well as import cost. Still, petrol price in India is cheaper than countries like UK, Japan, Switzerland, Italy and Germany. However, Indians pay more for a liter of petrol than countries like China, Pakistan, United Arab Emirates, Bangladesh and Bhutan.
Petrol Price Worldwide: Where is Petrol Most Expensive in the World? Where is petrol cheapest? Know where India stands
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