Oil prices at a record: Per-litre petrol price in India vs major countries
Global oil prices have been at record high levels, well into the three-digit dollar mark for a single barrel, pushing petrol and diesel prices in most countries to astronomical highs. The Russian invasion of Ukraine has led to a spike in global crude prices with motorists and transporters feeling the brunt in particular.
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Price of petrol and diesel in India have been significantly high than ever before but recent months have not seen a daily revision as was previously expected. Not yet anyway. The fuel rates in the country are subjected to a number of central as well as state taxes and levies which results in the varying per-litre selling price. On an average though, a litre of petrol is currently at around ₹101 ($1.345).
South Asia petrol prices
Among South Asian neighbours, a litre of petrol in Pakistan is at $0.837 (approximately ₹63.43) while in Sri Lanka, it is at $1.111 ( ₹84). In Bangladesh, motorists have to $1.035 ( ₹78.43) for each litre of the fuel while those in Nepal have to pay $1.226 ( ₹93). With a litre of petrol at $1.128 ( ₹85.48), India continues to be the most expensive country in the sub-continent for petrol.
West Asia petrol prices
On expected lines, countries in West Asia are where petrol prices are some of the lowest. A litre of petrol in Saudi Arabia ($ 0.621), United Arab Emirates ($ 0.849), Kuwait ($ 0.345), Iran ($ 0.051), Iraq ($ 0.514), Bahrain ($ 0.531) and even Qatar ($ 0.577) are far more affordable than in most parts of the world.
US, UK and Australia petrol prices
Petrol, also called gasoline in many parts of the world, has seen a surge in its pricing in the western world. In the US, there have been instances of fuel theft from parked vehicles. Here, a litre of the fuel is at $1.239 or ₹93.89. It is costlier still in Australia down in the southern hemisphere where the rates are at $1.421 or ₹107.69. In the UK, prices have climbed to as high as $2.129 or ₹161.
Cheapest and most expensive countries for a litre of petrol
Venezuela remains the country where petrol price is the lower than in any other country. Here, a litre of the fuel is at $0.025 or ₹1.89. It is almost as cheap in Libya where a litre is for $0.032 or ₹2.43.
But head over to Hong Kong and get ready to pay through your nose to travel. Here, a litre of petrol is at $2.879 or ₹218. Monaco, The Netherlands, Finland, Liechtenstein and Germany are some of the other countries where fuel is around the ₹200 per litre mark.
Note: Rates courtesy Globalpetrolprice.com, dated March 14. All conversion to INR are approximate.