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Petrol Price in World: Petrol in India is cheaper than 50 countries of the world, but the prices of Pakistan, Sri Lanka and China will blow the senses

Petrol Price in World

Highlights

  • Prices in India are lower than Hong Kong, Finland, Germany, Italy, Netherlands, Greece, France, Portugal and Norway
  • Petrol price in India higher than Vietnam, Kenya, Ukraine, Bangladesh, Nepal, Pakistan, Sri Lanka and Venezuela
  • Petrol price in India is $1.35 per liter and it ranks 42nd in this list

Petrol diesel prices are skyrocketing in India. But do you know what are the petrol prices in the neighboring countries of India. A research report by Bank of Baroda (BOB) has revealed that petrol prices in India are much lower than countries like Hong Kong, Germany and Britain, but the disturbing thing is that China, Brazil, Japan, America, Oil in our country is very expensive in countries like Russia, Pakistan and Sri Lanka.

In the Economic Research Report of BOB, a comparative study of petrol prices in different countries has been done on May 9. For this, petrol prices were based on the per capita income of that country.

Prices higher than us in 50 countries of the world

A study of data from 106 countries of the world shows that the price of petrol in India is $1.35 per liter and it is ranked 42nd in this list. In this way, the prices of petrol in more than 50 countries are higher than in India. The report says, “It gives us some relief to see this figure that petrol is not so expensive in India alone. The average price of petrol in these countries is $1.22 per liter.

Petrol Price in World

Image Source : INDIATV

Petrol Price in World

Our petrol is cheaper than these countries

According to the report, fuel prices in India are at par with Australia, Turkey and South Korea. The price is lower than Hong Kong, Finland, Germany, Italy, Netherlands, Greece, France, Portugal and Norway where it is above $2 per litre.

Our petrol is the most expensive among poor countries

In per capita terms, the price of petrol in India is higher than that of Vietnam, Kenya, Ukraine, Bangladesh, Nepal, Pakistan, Sri Lanka and Venezuela. Petrol prices are comparatively very low in major oil producing countries.

The worst hit of oil on the poor

According to the report, “Petrol price in India does not seem to be too high now. However, when combined with per capita income, it is seen that per capita income in most of the high cost countries is much higher than in India. The economic hardship of growing up is too much. This is because its direct and indirect impact on inflation is much greater, with the lower-income groups being hit the hardest.

Petrol Diesel Price

Image Source : FILE

Petrol Diesel Price

Relief available in low income countries

Citing the example of the Philippines, the report said that the price of petrol there is almost the same as in India, but its per capita income is 50 percent higher than that of India. On the other hand, low per capita income countries like Kenya, Bangladesh, Nepal, Pakistan and Venezuela have very low petrol prices. The research report of BoB says that in such a situation, to protect the interests of the people, the government must think of cutting taxes on fuel.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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