Here Is A List Of 100 Countries Whose Petrol Prices Will Shock You.. Way Lower Than India!!

Written by Dhiwaharan Published on Oct 28, 2017 | 03:27 AM IST | 127

VENEZUALA 1

Why is the price of petrol high in India?

  • The primary reason is to reduce consumption. India already suffers a lot from environmental problems with its major cities are already among the most polluted in the world.
  • The government also says we are spending this money saved in infrastructure. But, can they tell what extra roads/highways they have constructed using this huge amount of money. A study once done by the European transport federation found that “Every billion of tax revenue shifted from labour onto fuel can be estimated to create some
  • India like many European countries with high fuel taxes has a negative balance of trade, a chunk of which is due to oil imports. Keeping the prices high reduces the consumption and hence lowers impact.
petrol price delhi
Fuel price hike in Delhi

If the petrol Prices drop down…

  • Inflation will fall sharply if the retail fuel prices are lower. This will give room for the RBI to cut benchmark rates and lower the cost of borrowing. This is exactly what the finance ministry and RBI has been at loggerheads for a long while.
  • The disposable income in the hands of the consumers will increase. This will help revive consumer sentiment and increase sales across companies across sectors
  • The government is a very poor allocator of scarce capital due to leakages and corruption. The same money in the hands of actual customers will boost consumption and higher economic growth.
petrol price chennai
Fuel hike in Chennai
Country Name Price (in Indian rupees)
Venezuela 0.58
Saudi Arabia 15.4
Algeria 20.58
Kuwait 22.36
Iran 23.03
Egypt 24.04
Ecuador 25.09
Uzbekistan 26.17
Nigeria 26.38
Bahrain 27.22
Qatar 27.71
Syria 28.04
Kazakhstan 30.07
Oman 32.67
UAE 33.21
Burma 33.39
Malaysia 33.57
Mongolia 39.98
Iraq 40.69
Indonesia 41.08
Afghanistan 41.15
Belarus 41.31
Pakistan 43.54
Russia 44.67
Colombia 49.47
USA 49.54
Lebanon 50.23
Ethiopia 51.37
Namibia 52.69
Vietnam 53.01
Sri Lanka 53.72
Taiwan 53.92
Georgia 54.96
Yemen 55.12
Philippines 57.58
Cambodia 57.68
Ghana 58.91
Sudan 59.28
Fiji 60.62
Ukraine 60.68
Kenya 61.2
Nepal 61.35
Bhutan 62.2
Paraguay 63.45
Mexico 64.11
China 64.42
Australia 64.93
South Africa 65.71
Costa Rica 66.91
Thailand 67.05
Bangladesh 69.46
Morocco 72.14
Canada 72.14
Mauritania 72.32
Bahamas 72.71
Jamaica 73.56
India 73.98
Japan 74.23
Argentina 75.64
Bulgaria 77.09
Chile 77.52
Brazil 78.89
Romania 78.97
Madagascar 80.43
Senegal 80.73
Jordan 81.06
Poland 81.14
Cuba 81.91
South Korea 83.43
Zimbabwe 84.07
Mauritius 86.27
Czech Rep. 87.82
Hungary 88.27
Serbia 91.17
Austria 91.24
Cyprus 92.23
Spain 92.69
Slovakia 96.66
Singapore 96.67
Switzerland 98.31
Turkey 98.58
New Zealand 98.95
Uruguay 101.66
UK 102.57
Ireland 103.68
Germany 103.83
France 105.05
Belgium 105.97
Finland 108.33
Portugal 112.22
Israel 112.6
Sweden 113.58
Italy 115.12
Greece 115.88
Denmark 118.71
Monaco 118.78
Netherlands 119.39
Iceland 120.66
Hong Kong 127.25
Norway 129.87

 

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