How does the latest price of petrol in India compare, with the prices prevailing in other countries of the world, would be worth probing, especially ,the prevailing highest and lowest petrol prices.
There is a huge hue and cry at the present prevaing price of Rs72 per litre in India. This is because in the last month itself the price has gone up by nearly Rs 8 per litre when the crude oil prices have remained steady.The accusation is that the high prices are because of creased excise duties to help reduce tewidening deficit in the Union Budget.
While the price inIndia is at relatively levels, it would be interesting to know the petrol prices in various other countries. A search on the internet gives prices in different countries, but there may be some errors due to different qualities being compared or latest prices may not be available. However the prices are prevailing in Mid September 2017, and do indicate a trend which may not be at any significant variance.
Let us see the top ten countries where the petrol prices are the lowest. The petrol in Saudi Arabia is the cheapest and is priced at an unbelievable price of Rs 13 per litre(L) or $0.2, and it also has 20% of the oil resources of the world. The second cheapest petrol price is in Kuwait and Iran at Rs 19 per L.. The next country is Egypt at Rs 20 per L and the fourth is Ecuador at Rs 22 per L. Nigeria, Qatarand Bahrain sell it at around Rs 23. Even strife torn Syria sells it at Rs 24 per L. In Kazakhastan petrol price is around Rs 25 a litre. .
Now let us see the top ten countries where petrol is the costliest in the world. The costliest petrol is available in Norway at Rs 111 per L. In Hong Kong it is priced at Rs 109 and Rs 102 per L in both Iceland and Netherland. In Denmark the price is Rs 101, in Greece Rs 99 and in Italy Rs 98 per L. In Sweden it is priced at Rs 96. Tiny Israel and Portugal sell it at Rs 95 per L. The costliest petrol is in Norway at Rs 111 per litre.
It is worth noting that in Norway on an average a person spends around 7.4% of his monthly income on buying the costliest petrol in the world whereas Turks spend on an average 34 %, Greeks around 25% and Italians around 16% of their monthly income on petrol purchases.So the oil rich countries can afford cheap petrol and affluent European countries can afford to pay high prices for petrol. We Indians are sandwiched in between. Indian price is Rs 72 per liter.. The petrol is Rs 46 per litre in Pakistan, Rs 52 in Nepal, and around Rs 46 in Sri Lanka.